Atkore International Correlations

ATKR Stock

USD 94.61 4.92 5.49%

The current 90-days correlation between Atkore International and Hubbell is 0.66 (i.e., Poor diversification). The correlation of Atkore International 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Atkore International Correlation With Market

Poor diversification

The correlation between Atkore International Group and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atkore International Group 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 Atkore International Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving against Atkore Stock

0.39

LSCG

Lighting Science

Pair Corr

Related Correlations Analysis

	HUBB	ENS	AEIS	NVT	KE	HOLI	VRT	ENR	AYI
HUBB		0.27	0.72	0.94	0.49	-0.04	0.91	0.54	0.91	HUBB
ENS	0.27		0.04	0.16	-0.16	-0.65	-0.07	-0.33	0.02	ENS
AEIS	0.72	0.04		0.83	0.72	0.37	0.76	0.71	0.77	AEIS
NVT	0.94	0.16	0.83		0.59	0.13	0.92	0.65	0.88	NVT
KE	0.49	-0.16	0.72	0.59		0.59	0.58	0.58	0.56	KE
HOLI	-0.04	-0.65	0.37	0.13	0.59		0.27	0.49	0.2	HOLI
VRT	0.91	-0.07	0.76	0.92	0.58	0.27		0.78	0.94	VRT
ENR	0.54	-0.33	0.71	0.65	0.58	0.49	0.78		0.67	ENR
AYI	0.91	0.02	0.77	0.88	0.56	0.2	0.94	0.67		AYI
	HUBB	ENS	AEIS	NVT	KE	HOLI	VRT	ENR	AYI

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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

NVT	+ 0.94	HUBB
AYI	+ 0.94	VRT
VRT	+ 0.92	NVT
VRT	+ 0.91	HUBB
AYI	+ 0.91	HUBB
AYI	+ 0.88	NVT

High negative correlations

HOLI	- 0.65	ENS
ENR	- 0.33	ENS
KE	- 0.16	ENS
VRT	- 0.07	ENS
HOLI	- 0.04	HUBB

Risk-Adjusted Indicators

There is a big difference between Atkore Stock performing well and Atkore International 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 Atkore International's 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
HUBB	1.28	0.10	0.12	0.18	1.35	(1.43)	3.09	(2.12)	10.41
ENS	1.18	(0.14)	(0.06)	0.02	1.68	(1.21)	2.21	(2.35)	8.90
AEIS	1.50	(0.11)	0.00	0.06	1.89	(1.57)	3.85	(2.92)	9.74
NVT	1.69	0.06	0.07	0.15	2.15	(1.89)	3.19	(2.34)	13.93
KE	1.63	(0.05)	0.02	0.09	1.71	(1.91)	3.85	(3.18)	11.84
HOLI	1.21	0.18	0.01	(0.36)	1.72	(1.24)	2.60	(3.35)	19.49
VRT	2.32	0.70	0.29	0.45	2.16	(2.64)	5.87	(3.65)	16.98
ENR	1.07	0.34	0.17	1.60	1.06	(1.28)	2.67	(1.29)	12.72
AYI	1.24	0.33	0.24	0.46	0.91	(1.43)	2.82	(2.02)	11.12

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