ATS Correlations

ATS Stock

29.25 0.43 1.45%

The current 90-days correlation between ATS Corporation and Xometry is -0.05 (i.e., Good diversification). The correlation of ATS 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.

ATS Correlation With Market

Poor diversification

The correlation between ATS Corp. and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATS Corp. and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ATS Stock

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

Moving together with ATS Stock

0.78	600765	AVIC Heavy Machinery	Pair Corr
0.8	CR	Crane Company Earnings Call This Week	Pair Corr
0.7	IR	Ingersoll Rand	Pair Corr
0.61	301053	Yoantion Industrial	Pair Corr
0.73	FELE	Franklin Electric	Pair Corr
0.66	AIN	Albany International	Pair Corr
0.62	DCI	Donaldson	Pair Corr
0.7	GGG	Graco Inc	Pair Corr
0.72	GRC	Gorman Rupp Earnings Call This Week	Pair Corr
0.82	002534	Xizi Clean Energy	Pair Corr
0.7	IEX	IDEX Earnings Call This Week	Pair Corr
0.65	ITW	Illinois Tool Works Earnings Call This Week	Pair Corr
0.76	SNA	Snap On	Pair Corr
0.7	WTS	Watts Water Technologies	Pair Corr
0.63	WWD	Woodward Earnings Call This Week	Pair Corr
0.65	688700	Kunshan Dongwei Tech	Pair Corr
0.69	PRV	Porvair plc	Pair Corr

Moving against ATS Stock

0.38	WATR	Current Water Techno	Pair Corr
0.47	ILAG	Intelligent Living	Pair Corr

Related Correlations Analysis

	XMTR	NNE	SXI	HI	TIC	EPAC	PSIX	AMSC	TRTN-PC	PCT
XMTR		-0.52	-0.07	0.66	-0.25	-0.11	-0.23	-0.65	0.52	-0.33	XMTR
NNE	-0.52		0.28	-0.58	0.73	0.56	0.72	0.84	-0.57	0.62	NNE
SXI	-0.07	0.28		0.12	0.25	0.37	0.33	0.14	-0.1	0.56	SXI
HI	0.66	-0.58	0.12		-0.23	-0.06	-0.11	-0.68	0.82	-0.17	HI
TIC	-0.25	0.73	0.25	-0.23		0.86	0.89	0.73	-0.1	0.79	TIC
EPAC	-0.11	0.56	0.37	-0.06	0.86		0.81	0.58	0.08	0.78	EPAC
PSIX	-0.23	0.72	0.33	-0.11	0.89	0.81		0.74	-0.02	0.81	PSIX
AMSC	-0.65	0.84	0.14	-0.68	0.73	0.58	0.74		-0.54	0.67	AMSC
TRTN-PC	0.52	-0.57	-0.1	0.82	-0.1	0.08	-0.02	-0.54		-0.09	TRTN-PC
PCT	-0.33	0.62	0.56	-0.17	0.79	0.78	0.81	0.67	-0.09		PCT
	XMTR	NNE	SXI	HI	TIC	EPAC	PSIX	AMSC	TRTN-PC	PCT

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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

PSIX	+ 0.89	TIC
EPAC	+ 0.86	TIC
AMSC	+ 0.84	NNE
TRTN-PC	+ 0.82	HI
PSIX	+ 0.81	EPAC
PCT	+ 0.81	PSIX

High negative correlations

AMSC	- 0.68	HI
AMSC	- 0.65	XMTR
HI	- 0.58	NNE
TRTN-PC	- 0.57	NNE
TRTN-PC	- 0.54	AMSC
NNE	- 0.52	XMTR

Risk-Adjusted Indicators

There is a big difference between ATS Stock performing well and ATS 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 ATS'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
XMTR	3.03	0.45	0.11	0.41	3.41	(3.03)	5.19	(7.00)	38.74
NNE	4.62	(0.28)	0.00	(0.32)	0.00	0.00	9.26	(8.88)	20.96
SXI	1.60	(0.03)	0.01	0.05	2.05	(1.52)	3.49	(2.82)	12.69
HI	0.11	0.02	(0.28)	0.56	0.00	(0.13)	0.25	(0.22)	0.89
TIC	2.20	(0.21)	0.00	(0.20)	0.00	0.00	5.24	(4.86)	13.24
EPAC	1.40	(0.16)	0.00	(0.04)	0.00	0.00	3.65	(2.83)	12.80
PSIX	3.84	(0.14)	0.00	0.02	4.85	(4.42)	7.68	(6.33)	27.55
AMSC	3.49	(0.75)	0.00	(0.26)	0.00	0.00	5.56	(6.95)	47.39
TRTN-PC	0.34	0.02	(0.08)	0.52	0.44	(0.34)	0.68	(0.64)	2.46
PCT	3.82	(0.26)	0.00	(0.03)	0.00	0.00	9.68	(7.32)	24.11

ATS Corporate Management

Stewart McCuaig	General VP	Profile
Giuseppe Tassone	Vice Acquisitions	Profile
David CFA	Head Relations	Profile
Arjun CFA	Investor Associate	Profile
Steve Emery	Vice Procurement	Profile

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