American Axle Correlations

AXLDelisted Stock

USD 9.00 0.61 7.27%

The current 90-days correlation between American Axle Manufa and Standard Motor Products is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Axle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Axle Manufacturing moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Axle Correlation With Market

Very weak diversification

The correlation between American Axle Manufacturing and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Axle Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with American Stock

0.82	60V	KYB PORATION	Pair Corr
0.76	C31	Cooper Standard Holdings	Pair Corr
0.74	XDH	Xingda International	Pair Corr
0.68	P4N	Polytec Holding AG	Pair Corr
0.78	VSA2	Valeo SA	Pair Corr
0.88	SRU	Standard Motor Products	Pair Corr
0.64	7FZ	INTER CARS SA Earnings Call This Week	Pair Corr
0.84	KBX	Knorr Bremse AG	Pair Corr
0.76	7GA	Gestamp Automoción	Pair Corr
0.92	ML	Compagnie Generale des	Pair Corr
0.73	SSA	Spectra	Pair Corr
0.79	FR	Valeo SA	Pair Corr
0.75	TYT	Toyota Motor Corp	Pair Corr
0.8	1A7	Allison Transmission	Pair Corr
0.93	TY7	Toyota Boshoku	Pair Corr
0.88	BWA	BorgWarner	Pair Corr
0.76	CPS	Cooper Stnd	Pair Corr
0.85	DAN	Dana Inc	Pair Corr

Moving against American Stock

0.91	QS	QuantumScape Class	Pair Corr
0.75	PWO	Progress Werk Oberkirch	Pair Corr
0.58	KC7	AMA Group Limited	Pair Corr
0.86	WKSP	Worksport	Pair Corr
0.68	GEF	SOGEFI	Pair Corr
0.67	HGEA	hGears AG	Pair Corr
0.66	MW4	Akwel SA	Pair Corr
0.64	JOHB	Johnson Electric Holdings	Pair Corr
0.59	WKHS	Workhorse Group	Pair Corr
0.74	FRSX	Foresight Autonomous	Pair Corr
0.58	GGR	Gogoro Inc	Pair Corr
0.31	ECX	ECARX Holdings Class	Pair Corr

Related Correlations Analysis

	SMP	PLOW	SES	ECX	BJRI	CARS	AEVA	CPS	XPEL	CBRL
SMP		0.85	-0.45	-0.25	0.42	-0.57	-0.18	0.7	0.28	0.72	SMP
PLOW	0.85		-0.4	-0.22	0.42	-0.75	-0.02	0.77	0.15	0.73	PLOW
SES	-0.45	-0.4		0.72	0.32	0.46	0.66	-0.62	0.44	-0.04	SES
ECX	-0.25	-0.22	0.72		0.17	0.11	0.42	-0.54	0.28	0.15	ECX
BJRI	0.42	0.42	0.32	0.17		0.02	0.57	0.21	0.79	0.62	BJRI
CARS	-0.57	-0.75	0.46	0.11	0.02		0.31	-0.46	0.3	-0.58	CARS
AEVA	-0.18	-0.02	0.66	0.42	0.57	0.31		-0.13	0.54	0.28	AEVA
CPS	0.7	0.77	-0.62	-0.54	0.21	-0.46	-0.13		0.04	0.39	CPS
XPEL	0.28	0.15	0.44	0.28	0.79	0.3	0.54	0.04		0.31	XPEL
CBRL	0.72	0.73	-0.04	0.15	0.62	-0.58	0.28	0.39	0.31		CBRL
	SMP	PLOW	SES	ECX	BJRI	CARS	AEVA	CPS	XPEL	CBRL

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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

PLOW	+ 0.85	SMP
XPEL	+ 0.79	BJRI
CPS	+ 0.77	PLOW
CBRL	+ 0.73	PLOW
CBRL	+ 0.72	SMP
ECX	+ 0.72	SES

High negative correlations

CARS	- 0.75	PLOW
CPS	- 0.62	SES
CBRL	- 0.58	CARS
CARS	- 0.57	SMP
CPS	- 0.54	ECX
CPS	- 0.46	CARS

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Axle 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 American Axle'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
SMP	1.35	0.02	0.01	0.10	1.95	(1.42)	3.06	(2.19)	14.42
PLOW	1.21	0.51	0.56	0.52	0.22	(1.61)	3.90	(1.33)	7.23
SES	4.67	(0.26)	(0.01)	0.01	5.85	(4.85)	8.90	(10.57)	27.52
ECX	3.94	0.02	0.01	0.10	4.49	(4.60)	8.42	(7.77)	19.00
BJRI	1.57	(0.01)	0.01	0.07	2.01	(1.58)	4.02	(2.95)	13.27
CARS	1.91	(0.54)	0.00	(0.26)	0.00	0.00	2.97	(4.44)	20.18
AEVA	5.45	0.47	0.11	0.22	5.11	(6.31)	16.00	(9.18)	48.05
CPS	2.36	0.36	0.12	0.51	2.62	(2.69)	5.06	(4.19)	43.06
XPEL	1.74	(0.15)	0.00	(0.03)	0.00	0.00	3.96	(4.24)	14.06
CBRL	2.90	0.20	0.09	0.19	2.88	(3.35)	7.62	(5.07)	13.74

Delisting Warning - AXL

American Axle Manufa was delisted

The entity American Axle Manufacturing with a symbol AXL was delisted from New York Stock Exchange. Please try Dch Technology with a symbol DCH from now on. Check all delisted instruments accross multiple markets.

Still Interested in American Axle Manufacturing?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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