AZZ Incorporated Correlations

AZZ Stock

USD 87.71 1.56 1.81%

The current 90-days correlation between AZZ Incorporated and Maximus is -0.01 (i.e., Good diversification). The correlation of AZZ Incorporated 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.

AZZ Incorporated Correlation With Market

Modest diversification

The correlation between AZZ Incorporated and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AZZ Incorporated and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy AZZ Stock please use our How to Invest in AZZ Incorporated guide.

Moving together with AZZ Stock

0.77	GPN	Global Payments	Pair Corr
0.64	PRSU	Pursuit Attractions and Symbol Change	Pair Corr
0.78	ARMK	Aramark Holdings	Pair Corr
0.75	G	Genpact Limited Earnings Call This Week	Pair Corr
0.84	R	Ryder System	Pair Corr
0.8	AL	Air Lease	Pair Corr
0.71	BE	Bloom Energy Corp	Pair Corr
0.78	BR	Broadridge Financial	Pair Corr
0.64	CR	Crane Company	Pair Corr
0.61	DE	Deere Company	Pair Corr
0.73	FA	First Advantage Corp	Pair Corr
0.78	HI	Hillenbrand Earnings Call This Week	Pair Corr

Moving against AZZ Stock

0.74	WHLM	Wilhelmina	Pair Corr
0.58	QBCRF	Quebecor	Pair Corr
0.53	EH	Ehang Holdings	Pair Corr
0.35	PHLT	Performant Healthcare, Symbol Change	Pair Corr
0.32	NISN	Nisun International	Pair Corr
0.47	CODI-PB	Compass Diversified	Pair Corr
0.43	CODI-PC	Compass Diversified	Pair Corr
0.41	CODI-PA	Compass Diversified	Pair Corr
0.33	GD	General Dynamics	Pair Corr
0.33	VCIG	VCI Global Limited Buyout Trend	Pair Corr
0.32	GP	GreenPower Motor	Pair Corr

Related Correlations Analysis

	MMS	ABM	CBZ	CASS	FA	NTIP	ARMK	MMTRS	CTGL	BWVI
MMS		0.13	-0.65	0.08	-0.56	-0.29	-0.31	-0.15	0.07	0.0	MMS
ABM	0.13		-0.08	0.84	0.46	-0.28	0.76	0.7	0.14	0.0	ABM
CBZ	-0.65	-0.08		-0.2	0.37	0.48	0.2	-0.19	-0.32	0.0	CBZ
CASS	0.08	0.84	-0.2		0.44	-0.49	0.57	0.69	0.18	0.0	CASS
FA	-0.56	0.46	0.37	0.44		-0.14	0.74	0.53	-0.03	0.0	FA
NTIP	-0.29	-0.28	0.48	-0.49	-0.14		-0.09	-0.37	-0.2	0.0	NTIP
ARMK	-0.31	0.76	0.2	0.57	0.74	-0.09		0.58	-0.07	0.0	ARMK
MMTRS	-0.15	0.7	-0.19	0.69	0.53	-0.37	0.58		0.54	0.0	MMTRS
CTGL	0.07	0.14	-0.32	0.18	-0.03	-0.2	-0.07	0.54		0.0	CTGL
BWVI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BWVI
	MMS	ABM	CBZ	CASS	FA	NTIP	ARMK	MMTRS	CTGL	BWVI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CASS	+ 0.84	ABM
ARMK	+ 0.76	ABM
ARMK	+ 0.74	FA
MMTRS	+ 0.7	ABM
MMTRS	+ 0.69	CASS
MMTRS	+ 0.58	ARMK

High negative correlations

CBZ	- 0.65	MMS
FA	- 0.56	MMS
NTIP	- 0.49	CASS
MMTRS	- 0.37	NTIP
CTGL	- 0.32	CBZ
ARMK	- 0.31	MMS

Risk-Adjusted Indicators

There is a big difference between AZZ Stock performing well and AZZ Incorporated 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 AZZ Incorporated'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
MMS	1.26	(0.23)	0.00	(0.58)	0.00	0.00	2.23	(2.50)	9.73
ABM	1.17	(0.03)	(0.04)	0.01	1.96	(1.15)	2.04	(2.42)	13.29
CBZ	1.24	0.40	0.23	7.65	1.05	(1.45)	2.49	(1.79)	11.45
CASS	1.21	(0.01)	(0.03)	0.04	1.73	(1.32)	2.67	(2.71)	13.07
FA	1.53	0.01	(0.03)	0.12	1.66	(1.78)	4.14	(3.01)	10.13
NTIP	1.57	0.12	0.01	(0.36)	1.94	(1.84)	3.13	(2.94)	10.30
ARMK	1.16	0.02	(0.02)	0.11	1.50	(1.22)	2.75	(3.42)	7.75
MMTRS	0.67	(0.19)	0.00	(0.33)	0.00	0.00	2.16	(2.70)	10.17
CTGL	1.99	(0.93)	0.00	0.83	0.00	0.00	0.00	0.00	66.67
BWVI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC