Alamo Correlations

ALG Stock

USD 188.10 0.53 0.28%

The current 90-days correlation between Alamo Group and Power Solutions International, is 0.28 (i.e., Modest diversification). The correlation of Alamo 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.

Alamo Correlation With Market

Very weak diversification

The correlation between Alamo Group and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alamo Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alamo Stock

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

Moving together with Alamo Stock

0.62	GP	GreenPower Motor	Pair Corr
0.8	ALSN	Allison Transmission	Pair Corr
0.8	300210	Anshan Senyuan Road	Pair Corr
0.64	CVGI	Commercial Vehicle Earnings Call This Week	Pair Corr
0.81	300099	Uroica Mining Safety	Pair Corr
0.7	MGMA	Metro Global Media	Pair Corr
0.67	DOCKF	Beyond Medical Techn	Pair Corr

Moving against Alamo Stock

0.93	601717	Zhengzhou Coal Mining	Pair Corr
0.89	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.85	000920	Vontron Technology	Pair Corr
0.78	301039	CIMC Vehicles	Pair Corr
0.75	300818	Jiangxi Naipu Mining	Pair Corr
0.74	CMI	Cummins	Pair Corr
0.68	600984	Shaanxi Construction	Pair Corr
0.53	REVG	Rev Group	Pair Corr
0.48	WAB	Westinghouse Air Brake	Pair Corr
0.45	000680	Shantui Construction	Pair Corr
0.37	ACE	Action Construction	Pair Corr
0.83	ITNF	Internet Infinity	Pair Corr
0.8	TKOLF	TKOLF	Pair Corr
0.64	NRWRF	NewRiver REIT plc	Pair Corr
0.6	ASTE	Astec Industries Earnings Call This Week	Pair Corr
0.51	CTDD	Qwest Corp 6	Pair Corr
0.47	CWQXY	Castellum AB ADR	Pair Corr
0.4	GPMTF	GPM Metals Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PSIX	EPAC	ATKR	TRN	REVG	UPWK	HUBG	LNN	AMRC	NNE
PSIX		-0.18	-0.1	0.0	0.22	0.54	-0.2	0.34	0.1	0.23	PSIX
EPAC	-0.18		-0.6	0.8	0.53	0.26	0.63	0.09	0.15	-0.35	EPAC
ATKR	-0.1	-0.6		-0.65	-0.27	-0.25	-0.15	-0.32	-0.04	0.25	ATKR
TRN	0.0	0.8	-0.65		0.61	0.57	0.45	0.08	0.48	0.06	TRN
REVG	0.22	0.53	-0.27	0.61		0.71	0.39	-0.11	0.56	0.13	REVG
UPWK	0.54	0.26	-0.25	0.57	0.71		0.04	0.11	0.73	0.44	UPWK
HUBG	-0.2	0.63	-0.15	0.45	0.39	0.04		0.11	-0.13	-0.38	HUBG
LNN	0.34	0.09	-0.32	0.08	-0.11	0.11	0.11		-0.37	-0.3	LNN
AMRC	0.1	0.15	-0.04	0.48	0.56	0.73	-0.13	-0.37		0.74	AMRC
NNE	0.23	-0.35	0.25	0.06	0.13	0.44	-0.38	-0.3	0.74		NNE
	PSIX	EPAC	ATKR	TRN	REVG	UPWK	HUBG	LNN	AMRC	NNE

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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

TRN	+ 0.8	EPAC
NNE	+ 0.74	AMRC
AMRC	+ 0.73	UPWK
UPWK	+ 0.71	REVG
HUBG	+ 0.63	EPAC
REVG	+ 0.61	TRN

High negative correlations

TRN	- 0.65	ATKR
ATKR	- 0.6	EPAC
NNE	- 0.38	HUBG
AMRC	- 0.37	LNN
NNE	- 0.35	EPAC
LNN	- 0.32	ATKR

Risk-Adjusted Indicators

There is a big difference between Alamo Stock performing well and Alamo 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 Alamo'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
PSIX	3.89	(0.20)	(0.02)	0.00	4.29	(4.44)	9.98	(7.21)	23.80
EPAC	1.28	0.11	0.08	0.18	1.29	(1.56)	3.09	(2.60)	8.39
ATKR	1.94	(0.28)	0.00	(0.06)	0.00	0.00	3.94	(2.85)	27.70
TRN	1.43	0.05	0.04	0.12	1.68	(1.68)	3.69	(2.36)	9.99
REVG	1.72	0.28	0.18	0.27	1.42	(2.04)	3.84	(2.63)	16.25
UPWK	2.34	0.26	0.10	0.39	2.32	(2.74)	4.51	(3.90)	18.54
HUBG	1.81	(0.17)	0.00	(0.01)	0.00	0.00	4.15	(3.77)	12.05
LNN	1.07	(0.34)	0.00	(0.20)	0.00	0.00	2.09	(2.56)	8.31
AMRC	4.14	1.39	0.29	1.30	3.71	(4.80)	10.22	(6.29)	67.11
NNE	4.89	0.13	0.06	0.11	5.34	(5.61)	12.98	(8.64)	38.13

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