Alaska Air Correlations
| ALK Stock | USD 40.27 0.74 1.87% |
The current 90-days correlation between Alaska Air Group and Merit Medical Systems is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alaska Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alaska Air Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Alaska Air Correlation With Market
Very weak diversification
The correlation between Alaska Air Group and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alaska Air Group and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Alaska Stock
| 0.67 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.79 | VZ | Verizon Communications | PairCorr |
| 0.74 | BA | Boeing | PairCorr |
| 0.85 | T | ATT Inc | PairCorr |
| 0.86 | HD | Home Depot | PairCorr |
Moving against Alaska Stock
| 0.93 | IBM | International Business | PairCorr |
| 0.88 | INTC | Intel Aggressive Push | PairCorr |
| 0.86 | PTAIY | Astra International Tbk | PairCorr |
| 0.79 | GE | GE Aerospace | PairCorr |
| 0.77 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.76 | JNJ | Johnson Johnson | PairCorr |
| 0.73 | AA | Alcoa Corp | PairCorr |
| 0.71 | AXP | American Express | PairCorr |
| 0.62 | MMM | 3M Company | PairCorr |
| 0.61 | MRK | Merck Company Aggressive Push | PairCorr |
| 0.59 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.51 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.51 | BAC | Bank of America | PairCorr |
| 0.47 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.47 | EC | Ecopetrol SA ADR | PairCorr |
| 0.41 | WMT | Walmart | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Alaska Stock performing well and Alaska Air 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 Alaska Air'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TMUSI | 0.77 | 0.00 | (0.02) | 0.00 | 0.93 | 1.85 | 6.29 | |||
| TLIS | 1.45 | 0.18 | 0.00 | 2.64 | 0.00 | 0.00 | 34.08 | |||
| ONCI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MMSI | 1.30 | (0.05) | 0.00 | (0.03) | 0.00 | 2.29 | 8.06 | |||
| CRRVF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WIRX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KVMD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AXRX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |