Alpha Pro Correlations

APT Stock

USD 4.66 0.05 1.08%

The current 90-days correlation between Alpha Pro Tech and Caesarstone is 0.08 (i.e., Significant diversification). The correlation of Alpha Pro 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.

Alpha Pro Correlation With Market

Very weak diversification

The correlation between Alpha Pro Tech 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 Alpha Pro Tech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alpha Stock

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

Moving together with Alpha Stock

0.65	IIIN	Insteel Industries	Pair Corr
0.75	BIGBLOC	Bigbloc Construction	Pair Corr

Moving against Alpha Stock

0.54	002631	Der International Home	Pair Corr
0.46	002084	Guangzhou Seagull Kitchen	Pair Corr
0.55	TTTNF	Titan Minerals	Pair Corr
0.41	NVDA	NVIDIA Aggressive Push	Pair Corr
0.32	FVN	Future Vision II	Pair Corr
0.31	PLUG	Plug Power	Pair Corr
0.31	TORO	Toro	Pair Corr

Related Correlations Analysis

	CSTE	BRIA	HTLM	RECT	SKYH	TPCS	YGMZ	SPCB	YSXT	CLIR
CSTE		0.1	0.41	0.66	-0.09	0.22	0.57	-0.13	0.32	-0.37	CSTE
BRIA	0.1		0.62	0.53	0.19	0.34	0.45	-0.41	-0.09	-0.54	BRIA
HTLM	0.41	0.62		0.82	0.29	0.4	0.56	-0.64	-0.1	-0.82	HTLM
RECT	0.66	0.53	0.82		0.3	0.43	0.63	-0.57	-0.06	-0.72	RECT
SKYH	-0.09	0.19	0.29	0.3		0.29	0.02	-0.17	-0.53	-0.15	SKYH
TPCS	0.22	0.34	0.4	0.43	0.29		0.5	0.01	-0.15	-0.34	TPCS
YGMZ	0.57	0.45	0.56	0.63	0.02	0.5		-0.27	0.02	-0.47	YGMZ
SPCB	-0.13	-0.41	-0.64	-0.57	-0.17	0.01	-0.27		0.14	0.46	SPCB
YSXT	0.32	-0.09	-0.1	-0.06	-0.53	-0.15	0.02	0.14		-0.14	YSXT
CLIR	-0.37	-0.54	-0.82	-0.72	-0.15	-0.34	-0.47	0.46	-0.14		CLIR
	CSTE	BRIA	HTLM	RECT	SKYH	TPCS	YGMZ	SPCB	YSXT	CLIR

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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

RECT	+ 0.82	HTLM
RECT	+ 0.66	CSTE
YGMZ	+ 0.63	RECT
HTLM	+ 0.62	BRIA
YGMZ	+ 0.57	CSTE
YGMZ	+ 0.56	HTLM

High negative correlations

CLIR	- 0.82	HTLM
CLIR	- 0.72	RECT
SPCB	- 0.64	HTLM
SPCB	- 0.57	RECT
CLIR	- 0.54	BRIA
YSXT	- 0.53	SKYH

Risk-Adjusted Indicators

There is a big difference between Alpha Stock performing well and Alpha Pro 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 Alpha Pro'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
CSTE	2.34	(0.80)	0.00	(0.79)	0.00	0.00	4.96	(5.76)	15.49
BRIA	3.74	(0.15)	0.01	0.04	5.42	(6.01)	7.01	(5.37)	90.99
HTLM	2.34	(0.17)	0.00	0.41	0.00	0.00	5.14	(5.92)	13.22
RECT	3.12	(0.87)	0.00	1.29	0.00	0.00	5.01	(7.53)	35.24
SKYH	1.68	(0.13)	0.00	(0.02)	0.00	0.00	4.46	(3.38)	10.89
TPCS	2.97	0.05	0.00	0.17	3.18	(3.49)	7.61	(5.45)	23.61
YGMZ	7.63	(0.99)	0.00	0.21	0.00	0.00	19.05	(13.21)	101.88
SPCB	3.75	0.28	0.08	0.32	3.55	(4.82)	8.78	(6.75)	26.53
YSXT	4.88	0.29	0.03	(0.89)	5.29	(5.64)	8.68	(9.54)	48.98
CLIR	5.45	0.66	0.16	0.32	4.61	(8.45)	14.46	(9.43)	50.29

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