Austal Correlations

AUTLF Stock

USD 2.00 0.17 7.83%

The correlation of Austal 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.

Austal Correlation With Market

Significant diversification

The correlation between Austal Limited and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Austal Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Austal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Austal 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 Austal - 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 Austal Limited to buy it.

Moving together with Austal Pink Sheet

0.81	SAFRY	Safran SA	Pair Corr
0.71	SSNLF	Samsung Electronics	Pair Corr
0.72	ITRI	Itron Inc	Pair Corr
0.75	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.73	NVDA	NVIDIA	Pair Corr
0.65	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	GVA	Granite Construction	Pair Corr
0.62	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.79	BWXT	BWX Technologies Sell-off Trend	Pair Corr
0.79	ADSK	Autodesk	Pair Corr
0.71	APLD	Applied Blockchain Trending	Pair Corr
0.81	LLYVK	Liberty Media	Pair Corr

Moving against Austal Pink Sheet

0.79	EC	Ecopetrol SA ADR	Pair Corr
0.69	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.63	BKRKF	PT Bank Rakyat	Pair Corr
0.61	PPERF	Bank Mandiri Persero	Pair Corr
0.54	BKRKY	Bank Rakyat	Pair Corr
0.51	TLK	Telkom Indonesia Tbk	Pair Corr
0.45	PPERY	Bank Mandiri Persero	Pair Corr
0.42	RLLCF	Rolls Royce Holdings	Pair Corr
0.63	AMIX	Autonomix Medical, Common	Pair Corr
0.52	EATBF	Eat Beyond Global	Pair Corr
0.46	PHIL	PHI Group	Pair Corr

Related Correlations Analysis

	TIKK	RNWR	SKYH	VTSI	FTGFF	CVU	AAIIQ	ATRO	VSEC	PKE
TIKK		0.0	-0.36	0.37	0.64	0.07	-0.51	-0.5	0.64	0.68	TIKK
RNWR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	RNWR
SKYH	-0.36	0.0		-0.03	-0.31	-0.31	0.7	0.16	-0.26	-0.23	SKYH
VTSI	0.37	0.0	-0.03		0.55	0.12	-0.36	-0.47	0.71	0.69	VTSI
FTGFF	0.64	0.0	-0.31	0.55		0.24	-0.61	-0.69	0.89	0.85	FTGFF
CVU	0.07	0.0	-0.31	0.12	0.24		-0.29	-0.31	0.32	0.25	CVU
AAIIQ	-0.51	0.0	0.7	-0.36	-0.61	-0.29		0.39	-0.63	-0.6	AAIIQ
ATRO	-0.5	0.0	0.16	-0.47	-0.69	-0.31	0.39		-0.69	-0.61	ATRO
VSEC	0.64	0.0	-0.26	0.71	0.89	0.32	-0.63	-0.69		0.93	VSEC
PKE	0.68	0.0	-0.23	0.69	0.85	0.25	-0.6	-0.61	0.93		PKE
	TIKK	RNWR	SKYH	VTSI	FTGFF	CVU	AAIIQ	ATRO	VSEC	PKE

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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

PKE	+ 0.93	VSEC
VSEC	+ 0.89	FTGFF
PKE	+ 0.85	FTGFF
VSEC	+ 0.71	VTSI
AAIIQ	+ 0.7	SKYH
PKE	+ 0.69	VTSI

High negative correlations

VSEC	- 0.69	ATRO
ATRO	- 0.69	FTGFF
VSEC	- 0.63	AAIIQ
PKE	- 0.61	ATRO
AAIIQ	- 0.61	FTGFF
PKE	- 0.6	AAIIQ

Risk-Adjusted Indicators

There is a big difference between Austal Pink Sheet performing well and Austal 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 Austal'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
TIKK	1.03	(0.08)	(0.01)	0.05	1.88	(3.86)	3.56	(2.27)	17.84
RNWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SKYH	2.57	(0.03)	(0.01)	0.09	3.29	(2.69)	5.16	(5.30)	16.18
VTSI	2.68	(0.01)	0.03	0.12	3.79	(2.78)	5.02	(8.02)	32.77
FTGFF	1.03	0.36	0.06	(3.23)	1.04	(3.43)	3.82	(0.58)	14.62
CVU	2.30	0.44	0.13	0.86	2.72	(2.69)	5.54	(3.51)	17.36
AAIIQ	3.21	(1.57)	0.00	2.60	0.00	0.00	0.00	0.00	99.50
ATRO	2.17	(0.46)	0.00	(0.07)	0.00	0.00	4.07	(6.69)	22.57
VSEC	1.85	0.16	0.13	0.19	2.10	(2.03)	2.95	(3.45)	21.00
PKE	1.31	0.01	0.09	0.13	0.95	(1.76)	3.51	(1.98)	12.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Austal 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.

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