Astronics Correlations

ATRO Stock

USD 76.58 3.18 4.33%

The current 90-days correlation between Astronics and Cadre Holdings is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Astronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Astronics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Astronics Correlation With Market

Poor diversification

The correlation between Astronics and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Astronics Stock

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

To learn how to invest in Astronics Stock, please use our How to Invest in Astronics guide.

Moving together with Astronics Stock

0.9	BA	Boeing	Pair Corr
0.81	GD	General Dynamics	Pair Corr
0.79	VOYG	Voyager Technologies	Pair Corr
0.97	AIR	AAR Corp	Pair Corr
0.74	FLY	Firefly Aerospace Common	Pair Corr
0.95	LHX	L3Harris Technologies	Pair Corr
0.96	LMT	Lockheed Martin	Pair Corr
0.96	NOC	Northrop Grumman	Pair Corr
0.93	RTX	Raytheon Technologies	Pair Corr
0.97	FTG	Firan Technology	Pair Corr
0.86	OBYCF	Obayashi Earnings Call Tomorrow	Pair Corr
0.92	RILYL	B Riley Financial	Pair Corr
0.9	SECVY	Seche Environnement	Pair Corr
0.74	BNKHF	BOC Hong Kong	Pair Corr

Moving against Astronics Stock

0.88	PBCRY	Bank Central Asia	Pair Corr
0.47	PBCRF	PT Bank Central	Pair Corr
0.39	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	CDRE	VOYG	VVX	DCO	AMPX	KMT	PBI	MVST	EVEX	NSP
CDRE		0.2	0.07	-0.01	0.21	-0.1	-0.16	0.42	0.48	0.1	CDRE
VOYG	0.2		0.84	0.78	0.01	0.64	0.63	-0.34	0.23	0.9	VOYG
VVX	0.07	0.84		0.94	0.29	0.84	0.47	-0.39	-0.08	0.82	VVX
DCO	-0.01	0.78	0.94		0.19	0.92	0.6	-0.52	-0.18	0.79	DCO
AMPX	0.21	0.01	0.29	0.19		0.12	-0.44	0.39	-0.16	-0.13	AMPX
KMT	-0.1	0.64	0.84	0.92	0.12		0.64	-0.71	-0.17	0.66	KMT
PBI	-0.16	0.63	0.47	0.6	-0.44	0.64		-0.72	0.12	0.71	PBI
MVST	0.42	-0.34	-0.39	-0.52	0.39	-0.71	-0.72		0.05	-0.45	MVST
EVEX	0.48	0.23	-0.08	-0.18	-0.16	-0.17	0.12	0.05		0.18	EVEX
NSP	0.1	0.9	0.82	0.79	-0.13	0.66	0.71	-0.45	0.18		NSP
	CDRE	VOYG	VVX	DCO	AMPX	KMT	PBI	MVST	EVEX	NSP

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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

DCO	+ 0.94	VVX
KMT	+ 0.92	DCO
NSP	+ 0.9	VOYG
VVX	+ 0.84	VOYG
KMT	+ 0.84	VVX
NSP	+ 0.82	VVX

High negative correlations

MVST	- 0.72	PBI
MVST	- 0.71	KMT
MVST	- 0.52	DCO
NSP	- 0.45	MVST
PBI	- 0.44	AMPX
MVST	- 0.39	VVX

Risk-Adjusted Indicators

There is a big difference between Astronics Stock performing well and Astronics 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 Astronics' 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
CDRE	1.62	(0.12)	0.00	(0.01)	0.00	0.00	4.07	(3.69)	10.56
VOYG	4.55	(0.19)	(0.01)	0.02	5.62	(4.47)	9.43	(8.91)	25.09
VVX	1.54	0.14	0.08	0.20	1.62	(1.65)	3.90	(2.27)	11.60
DCO	1.52	0.30	0.18	0.30	1.48	(1.75)	4.61	(2.29)	12.32
AMPX	5.36	(0.20)	0.00	0.02	6.75	(5.60)	11.63	(13.65)	28.89
KMT	1.84	0.83	0.72	0.62	0.20	(2.45)	5.33	(1.56)	17.95
PBI	1.29	0.09	0.05	0.19	1.41	(1.49)	2.65	(2.42)	9.16
MVST	3.38	(1.21)	0.00	(0.54)	0.00	0.00	6.02	(8.87)	18.37
EVEX	2.97	(0.44)	0.00	(0.12)	0.00	0.00	5.46	(6.70)	25.14
NSP	2.42	(0.27)	0.00	(0.08)	0.00	0.00	4.91	(5.53)	17.89

Astronics Corporate Executives

Elected by the shareholders, the Astronics' board of directors comprises two types of representatives: Astronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Astronics. The board's role is to monitor Astronics' management team and ensure that shareholders' interests are well served. Astronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Astronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

David Burney

CFO, Executive VP and Secretary

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