AptarGroup Correlations

ATR Stock

USD 122.54 0.58 0.48%

The current 90-days correlation between AptarGroup and Masimo is 0.13 (i.e., Average diversification). The correlation of AptarGroup 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.

AptarGroup Correlation With Market

Average diversification

The correlation between AptarGroup 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 AptarGroup and DJI in the same portfolio, assuming nothing else is changed.

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

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Moving together with AptarGroup Stock

0.86	SLGN	Silgan Holdings	Pair Corr
0.61	PCTTW	PureCycle Technologies	Pair Corr
0.65	ESALF	Eisai	Pair Corr
0.66	DSKYF	Daiichi Sankyo	Pair Corr
0.83	ARE	Alexandria Real Estate	Pair Corr
0.65	OCEA	Ocean Biomedical	Pair Corr

Moving against AptarGroup Stock

0.8	SNPHF	Santen Pharmaceutical	Pair Corr
0.64	ATCOL	Atlas Corp	Pair Corr
0.49	MYE	Myers Industries	Pair Corr
0.36	SGIOF	Shionogi	Pair Corr
0.31	AMCR	Amcor PLC Aggressive Push	Pair Corr
0.31	OPHLF	Ono Pharmaceutical	Pair Corr
0.83	CICOY	COSCO SHIPPING Holdings	Pair Corr
0.73	LCDX	Caliber Imaging Diag	Pair Corr
0.63	FLIDY	FLSmidth Co AS	Pair Corr
0.61	PTAIY	Astra International Tbk	Pair Corr
0.61	FSRL	First Reliance Bancshares Normal Trading	Pair Corr
0.5	BKKPF	Bangkok Bank Public	Pair Corr
0.46	NMRD	Nemaura Medical	Pair Corr
0.42	ALB	Albemarle Corp	Pair Corr
0.41	TZPC	ThermaFreeze Products	Pair Corr
0.38	SYF	Synchrony Financial	Pair Corr
0.36	NEXA	Nexa Resources SA	Pair Corr
0.78	BYSD	Bayside Corp	Pair Corr
0.69	LUMN	Lumen Technologies	Pair Corr

Related Correlations Analysis

	MASI	STVN	HSIC	AVTR	HALO	GRFS	MOH	TFX	GMED	RGEN
MASI		0.68	-0.65	0.54	0.14	0.2	0.15	-0.09	-0.55	-0.45	MASI
STVN	0.68		-0.81	0.73	0.11	0.54	0.35	0.32	-0.8	-0.5	STVN
HSIC	-0.65	-0.81		-0.77	0.1	-0.64	-0.51	-0.32	0.91	0.54	HSIC
AVTR	0.54	0.73	-0.77		-0.03	0.7	0.69	0.54	-0.74	-0.24	AVTR
HALO	0.14	0.11	0.1	-0.03		-0.13	-0.17	-0.51	0.06	-0.21	HALO
GRFS	0.2	0.54	-0.64	0.7	-0.13		0.84	0.73	-0.78	-0.39	GRFS
MOH	0.15	0.35	-0.51	0.69	-0.17	0.84		0.64	-0.63	-0.33	MOH
TFX	-0.09	0.32	-0.32	0.54	-0.51	0.73	0.64		-0.43	0.07	TFX
GMED	-0.55	-0.8	0.91	-0.74	0.06	-0.78	-0.63	-0.43		0.66	GMED
RGEN	-0.45	-0.5	0.54	-0.24	-0.21	-0.39	-0.33	0.07	0.66		RGEN
	MASI	STVN	HSIC	AVTR	HALO	GRFS	MOH	TFX	GMED	RGEN

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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

GMED	+ 0.91	HSIC
MOH	+ 0.84	GRFS
AVTR	+ 0.73	STVN
TFX	+ 0.73	GRFS
GRFS	+ 0.7	AVTR
MOH	+ 0.69	AVTR

High negative correlations

HSIC	- 0.81	STVN
GMED	- 0.8	STVN
GMED	- 0.78	GRFS
AVTR	- 0.77	HSIC
GMED	- 0.74	AVTR
HSIC	- 0.65	MASI

Risk-Adjusted Indicators

There is a big difference between AptarGroup Stock performing well and AptarGroup 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 AptarGroup'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
MASI	1.48	(0.24)	0.00	(0.43)	0.00	0.00	2.79	(2.88)	7.67
STVN	2.05	(0.41)	0.00	(0.19)	0.00	0.00	5.70	(4.31)	12.08
HSIC	1.15	0.20	0.13	0.40	1.12	(1.35)	2.28	(1.97)	13.49
AVTR	2.12	(0.13)	0.00	(0.04)	0.00	0.00	5.05	(4.39)	32.74
HALO	1.45	(0.08)	0.00	(0.14)	0.00	0.00	3.12	(2.91)	9.83
GRFS	1.25	(0.11)	0.00	(0.25)	0.00	0.00	2.29	(3.13)	8.69
MOH	1.96	(0.12)	0.00	(0.07)	0.00	0.00	3.36	(3.94)	21.47
TFX	1.72	(0.04)	(0.01)	0.02	2.66	(1.94)	3.98	(2.91)	17.32
GMED	1.98	0.65	0.49	0.53	0.89	(3.00)	3.67	(2.02)	38.40
RGEN	1.99	0.42	0.19	1.01	1.89	(2.44)	5.28	(2.78)	15.00

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