American Superconductor Correlations

Stocks . USA . 
Stock . American Superconductor
AMSC Stock  USD 42.72  1.34  3.24%   
The current 90-days correlation between American Superconductor and Broadwind Energy is 0.03 (i.e., Significant diversification). The correlation of American Superconductor 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.

American Superconductor Correlation With Market

Weak diversification

The correlation between American Superconductor and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Superconductor and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Superconductor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.
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Moving against American Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Superconductor 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 Superconductor'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.

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