Astec Industries Correlations

ASTE Stock

USD 35.57 0.62 1.77%

The correlation of Astec Industries is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Astec Industries Correlation With Market

Average diversification

The correlation between Astec Industries and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astec Industries and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Astec Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For information on how to trade Astec Stock refer to our How to Trade Astec Stock guide.

Moving together with Astec Stock

0.87	ALG	Alamo Group	Pair Corr
0.68	MTW	Manitowoc	Pair Corr
0.69	WNC	Wabash National	Pair Corr
0.8	PCAR	PACCAR Inc	Pair Corr
0.63	SHYF	Shyft Group	Pair Corr
0.82	CMCO	Columbus McKinnon	Pair Corr
0.79	R	Ryder System	Pair Corr
0.79	AL	Air Lease	Pair Corr
0.81	CR	Crane Company	Pair Corr

Moving against Astec Stock

0.39	RR	Richtech Robotics Class	Pair Corr
0.32	MG	Mistras Group	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	HY	MNTX	SHYF	REVG	LNN	CMCO	AGCO	TEX	OSK	GENC
HY		-0.69	0.3	-0.65	-0.12	-0.48	0.49	0.63	0.49	0.4	HY
MNTX	-0.69		-0.53	0.79	0.36	0.34	0.11	-0.72	-0.69	-0.69	MNTX
SHYF	0.3	-0.53		-0.29	0.27	0.26	0.03	0.83	0.88	0.81	SHYF
REVG	-0.65	0.79	-0.29		0.54	0.56	0.16	-0.51	-0.49	-0.5	REVG
LNN	-0.12	0.36	0.27	0.54		0.55	0.61	0.22	0.17	0.03	LNN
CMCO	-0.48	0.34	0.26	0.56	0.55		0.04	0.07	0.18	0.29	CMCO
AGCO	0.49	0.11	0.03	0.16	0.61	0.04		0.21	0.08	-0.11	AGCO
TEX	0.63	-0.72	0.83	-0.51	0.22	0.07	0.21		0.96	0.81	TEX
OSK	0.49	-0.69	0.88	-0.49	0.17	0.18	0.08	0.96		0.87	OSK
GENC	0.4	-0.69	0.81	-0.5	0.03	0.29	-0.11	0.81	0.87		GENC
	HY	MNTX	SHYF	REVG	LNN	CMCO	AGCO	TEX	OSK	GENC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OSK	+ 0.96	TEX
OSK	+ 0.88	SHYF
GENC	+ 0.87	OSK
TEX	+ 0.83	SHYF
GENC	+ 0.81	SHYF
GENC	+ 0.81	TEX

High negative correlations

TEX	- 0.72	MNTX
GENC	- 0.69	MNTX
OSK	- 0.69	MNTX
MNTX	- 0.69	HY
REVG	- 0.65	HY
SHYF	- 0.53	MNTX

Risk-Adjusted Indicators

There is a big difference between Astec Stock performing well and Astec Industries Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Astec Industries' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HY	1.68	(0.22)	0.00	0.35	0.00	0.00	3.18	(3.69)	17.87
MNTX	0.22	0.04	(0.10)	(2.05)	0.08	(0.32)	0.71	(0.35)	1.74
SHYF	2.52	(0.04)	0.01	0.05	3.20	(2.78)	5.85	(5.28)	20.78
REVG	2.08	0.30	0.15	0.39	1.80	(2.82)	6.07	(3.09)	18.42
LNN	1.40	0.24	0.13	0.67	1.25	(1.71)	3.16	(2.42)	13.76
CMCO	1.40	0.12	0.07	0.20	1.41	(1.68)	3.74	(2.80)	12.30
AGCO	1.52	0.11	0.00	(0.19)	2.01	(1.61)	3.33	(2.75)	9.75
TEX	1.75	(0.20)	0.00	(0.16)	0.00	0.00	3.13	(3.87)	16.47
OSK	1.42	(0.15)	0.00	(0.18)	0.00	0.00	2.27	(2.75)	14.57
GENC	2.03	(0.31)	0.00	(1.27)	0.00	0.00	2.81	(4.44)	16.53

Astec Industries Corporate Management

Barend Snyman	Group Infrastructure	Profile
Gregory Oswald	VP Excellence	Profile
Mark Roth	Sr Strategy	Profile
Timothy Averkamp	Group Group	Profile
Michael Norris	Group Sales	Profile

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