Atlas Copco Correlations
| ATLKY Stock | USD 15.74 0.11 0.70% |
The current 90-days correlation between Atlas Copco AB and Parker Hannifin is 0.22 (i.e., Modest diversification). The correlation of Atlas Copco 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.
Atlas Copco Correlation With Market
Very weak diversification
The correlation between Atlas Copco AB and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Copco AB and DJI in the same portfolio, assuming nothing else is changed.
Atlas |
The ability to find closely correlated positions to Atlas Copco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Atlas Copco when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Atlas Copco - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Atlas Copco AB to buy it.
Moving together with Atlas Pink Sheet
| 0.7 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.69 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against Atlas Pink Sheet
| 0.56 | EMR | Emerson Electric | PairCorr |
| 0.51 | PH | Parker Hannifin | PairCorr |
| 0.49 | SIEGY | Siemens AG ADR | PairCorr |
| 0.49 | VRT | Vertiv Holdings | PairCorr |
| 0.43 | ETN | Eaton PLC | PairCorr |
| 0.41 | ITW | Illinois Tool Works | PairCorr |
| 0.31 | PDYN | Palladyne AI Corp Symbol Change | PairCorr |
| 0.76 | IONQ | IONQ Inc | PairCorr |
| 0.75 | NDAQ | Nasdaq Inc | PairCorr |
| 0.75 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.65 | WMT | Walmart Aggressive Push | PairCorr |
| 0.64 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.54 | T | ATT Inc Aggressive Push | PairCorr |
| 0.54 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.48 | NVDA | NVIDIA | PairCorr |
| 0.46 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.4 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.39 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Atlas Pink Sheet performing well and Atlas Copco 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 Atlas Copco'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PH | 0.91 | 0.10 | 0.14 | 0.19 | 0.82 | 2.18 | 11.35 | |||
| ETN | 1.19 | 0.17 | 0.16 | 0.22 | 1.16 | 2.91 | 8.54 | |||
| DOV | 1.08 | 0.02 | 0.05 | 0.14 | 1.01 | 2.20 | 6.51 | |||
| ITW | 0.79 | 0.06 | 0.06 | 0.18 | 0.62 | 1.53 | 4.73 | |||
| EMR | 1.15 | 0.17 | 0.19 | 0.23 | 0.84 | 2.15 | 9.12 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Atlas Copco without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Atlas Copco Corporate Management
| Mats Hgberg | Chief VP | Profile | |
| Peter Kinnart | VP CFO | Profile | |
| Sara Liljedal | VP Officer | Profile | |
| Lars Eklof | Pres Systems | Profile | |
| Eva Klasen | VP Officer | Profile |