Astronics Correlations

ATRO Stock

USD 76.30 1.95 2.49%

The current 90-days correlation between Astronics and Cadre Holdings is 0.35 (i.e., Weak 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

Very poor diversification

The correlation between Astronics and DJI is 0.81 (i.e., Very 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 real.

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

Moving together with Astronics Stock

0.88	BA	Boeing	Pair Corr
0.97	CW	Curtiss Wright	Pair Corr
0.78	GD	General Dynamics	Pair Corr
0.92	MO7R	MOOG INC CL	Pair Corr
0.7	O1U1	PENGUIN INTL LTD	Pair Corr
0.88	HXL	Hexcel	Pair Corr
0.69	VOYG	Voyager Technologies	Pair Corr
0.65	SEJ1	Safran SA	Pair Corr
0.73	CE9	CAE Inc	Pair Corr
0.96	SNR	Senior PLC Earnings Call This Week	Pair Corr
0.93	EMBJ	Embraer SA Symbol Change	Pair Corr
0.92	ST2	Sturm Ruger Earnings Call This Week	Pair Corr
0.94	HI4	Huntington Ingalls	Pair Corr
0.82	BSP	BAE Systems plc	Pair Corr
0.93	ESLT	Elbit Systems	Pair Corr
0.87	EMY	Embraer SA	Pair Corr
0.66	CAE	CAE Inc	Pair Corr
0.84	RRU1	ROLLS ROYCE HADR Earnings Call This Week	Pair Corr
0.93	MO7A	Moog Inc	Pair Corr
0.95	CWT	Curtiss Wright	Pair Corr
0.76	TXT	Textron	Pair Corr
0.98	AIR	AAR Corp	Pair Corr
0.83	BSP	BAE Systems plc	Pair Corr
0.71	CAE	CAE Inc	Pair Corr
0.84	2VZ	LEONARDO DRS INC Earnings Call Today	Pair Corr
0.75	CVU	CPI Aerostructures	Pair Corr
0.97	DCO	Ducommun Incorporated	Pair Corr
0.92	DRS	Leonardo DRS Common	Pair Corr
0.65	HEI	Heico Earnings Call This Week	Pair Corr
0.81	BBD	BOMBARDIER INC CL	Pair Corr

Moving against Astronics Stock

0.57	EH	Ehang Holdings	Pair Corr
0.47	HCL	Highcom Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CDRE	VOYG	VVX	DCO	AMPX	KMT	PBI	MVST	EVEX	NSP
CDRE		0.33	0.24	0.18	0.02	0.14	0.15	0.07	0.26	0.07	CDRE
VOYG	0.33		0.74	0.6	0.12	0.48	0.59	-0.34	0.17	0.62	VOYG
VVX	0.24	0.74		0.93	0.38	0.88	0.49	-0.64	-0.39	0.17	VVX
DCO	0.18	0.6	0.93		0.25	0.96	0.58	-0.8	-0.59	-0.04	DCO
AMPX	0.02	0.12	0.38	0.25		0.3	-0.23	0.0	-0.08	0.07	AMPX
KMT	0.14	0.48	0.88	0.96	0.3		0.55	-0.83	-0.65	-0.15	KMT
PBI	0.15	0.59	0.49	0.58	-0.23	0.55		-0.63	-0.14	0.24	PBI
MVST	0.07	-0.34	-0.64	-0.8	0.0	-0.83	-0.63		0.64	0.22	MVST
EVEX	0.26	0.17	-0.39	-0.59	-0.08	-0.65	-0.14	0.64		0.6	EVEX
NSP	0.07	0.62	0.17	-0.04	0.07	-0.15	0.24	0.22	0.6		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

KMT	+ 0.96	DCO
DCO	+ 0.93	VVX
KMT	+ 0.88	VVX
VVX	+ 0.74	VOYG
EVEX	+ 0.64	MVST
NSP	+ 0.62	VOYG

High negative correlations

MVST	- 0.83	KMT
MVST	- 0.8	DCO
EVEX	- 0.65	KMT
MVST	- 0.64	VVX
MVST	- 0.63	PBI
EVEX	- 0.59	DCO

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	1.63	(0.07)	(0.02)	0.01	1.97	(1.82)	3.15	(3.69)	9.13
VOYG	4.33	0.58	0.12	0.31	4.82	(4.45)	9.43	(7.46)	25.09
VVX	1.73	0.31	0.16	0.32	1.71	(1.87)	3.90	(3.22)	12.04
DCO	1.33	0.46	0.36	0.55	0.86	(1.64)	3.51	(1.94)	7.80
AMPX	4.89	0.00	0.01	0.06	6.30	(5.05)	10.77	(8.39)	28.89
KMT	1.52	0.55	0.51	0.45	0.50	(1.93)	5.00	(1.57)	10.73
PBI	1.47	0.16	0.09	0.24	1.65	(1.69)	3.12	(2.96)	13.00
MVST	2.94	(0.87)	0.00	(0.36)	0.00	0.00	5.86	(5.49)	18.37
EVEX	2.67	(0.48)	0.00	(0.22)	0.00	0.00	5.46	(5.65)	25.14
NSP	2.83	(0.67)	0.00	(0.25)	0.00	0.00	4.91	(8.28)	23.28

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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