Astronics Correlations

ATRO Stock

USD 55.41 0.14 0.25%

The current 90-days correlation between Astronics and Cadre Holdings is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Astronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Astronics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Astronics Correlation With Market

Weak diversification

The correlation between Astronics and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astronics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Astronics Stock

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

To learn how to invest in Astronics Stock, please use our How to Invest in Astronics guide.

Moving together with Astronics Stock

0.75	688239	Guizhou Aviation Tec	Pair Corr
0.79	688586	Hefei Jianghang Aircraft	Pair Corr
0.81	HII	Huntington Ingalls	Pair Corr
0.61	HXL	Hexcel	Pair Corr

Moving against Astronics Stock

0.71	688685	Jiangsu Maixinlin	Pair Corr
0.61	EH	Ehang Holdings	Pair Corr
0.54	HCL	Highcom	Pair Corr
0.53	688297	AVIC UAS	Pair Corr
0.48	600038	Avicopter PLC	Pair Corr
0.41	VTSI	VirTra Inc	Pair Corr
0.6	SPR	Spirit Aerosystems	Pair Corr
0.51	DRS	Leonardo DRS, Common	Pair Corr
0.51	FLY	Firefly Aerospace Common	Pair Corr
0.47	NOC	Northrop Grumman	Pair Corr
0.43	PSN	Parsons Corp	Pair Corr
0.41	NPK	National Presto Indu	Pair Corr
0.4	MDA	MDA	Pair Corr
0.37	LMT	Lockheed Martin	Pair Corr
0.31	RDW	Redwire Corp	Pair Corr

Related Correlations Analysis

	CDRE	VOYG	VVX	DCO	AMPX	KMT	PBI	MVST	EVEX	NSP
CDRE		-0.36	-0.23	-0.14	-0.05	0.55	-0.42	-0.05	0.06	-0.62	CDRE
VOYG	-0.36		0.84	0.66	0.49	-0.66	0.79	0.66	0.44	0.88	VOYG
VVX	-0.23	0.84		0.65	0.59	-0.62	0.65	0.68	0.35	0.71	VVX
DCO	-0.14	0.66	0.65		0.1	-0.28	0.64	0.24	0.3	0.56	DCO
AMPX	-0.05	0.49	0.59	0.1		-0.57	0.1	0.79	0.21	0.31	AMPX
KMT	0.55	-0.66	-0.62	-0.28	-0.57		-0.59	-0.63	0.12	-0.72	KMT
PBI	-0.42	0.79	0.65	0.64	0.1	-0.59		0.29	0.23	0.84	PBI
MVST	-0.05	0.66	0.68	0.24	0.79	-0.63	0.29		0.1	0.47	MVST
EVEX	0.06	0.44	0.35	0.3	0.21	0.12	0.23	0.1		0.26	EVEX
NSP	-0.62	0.88	0.71	0.56	0.31	-0.72	0.84	0.47	0.26		NSP
	CDRE	VOYG	VVX	DCO	AMPX	KMT	PBI	MVST	EVEX	NSP

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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

NSP	+ 0.88	VOYG
VVX	+ 0.84	VOYG
NSP	+ 0.84	PBI
PBI	+ 0.79	VOYG
MVST	+ 0.79	AMPX
NSP	+ 0.71	VVX

High negative correlations

NSP	- 0.72	KMT
KMT	- 0.66	VOYG
MVST	- 0.63	KMT
KMT	- 0.62	VVX
NSP	- 0.62	CDRE
PBI	- 0.59	KMT

Risk-Adjusted Indicators

There is a big difference between Astronics Stock performing well and Astronics 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 Astronics' 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
CDRE	1.43	0.16	0.10	0.21	1.49	(1.70)	3.63	(2.99)	10.53
VOYG	4.45	(0.27)	(0.01)	0.01	5.21	(4.55)	9.44	(8.00)	21.76
VVX	1.57	(0.11)	(0.04)	0.00	1.96	(1.60)	3.81	(2.67)	9.31
DCO	1.67	(0.07)	0.00	0.04	2.42	(1.67)	3.78	(3.49)	12.32
AMPX	5.27	(0.52)	0.00	(0.06)	0.00	0.00	13.06	(10.77)	29.24
KMT	1.56	0.41	0.28	0.30	1.14	(1.85)	4.09	(2.60)	17.95
PBI	1.53	(0.22)	0.00	(0.13)	0.00	0.00	3.12	(3.87)	14.08
MVST	4.07	(0.55)	0.00	(0.18)	0.00	0.00	6.94	(8.91)	31.06
EVEX	3.18	(0.04)	0.02	0.06	3.51	(3.90)	6.99	(6.87)	19.07
NSP	2.01	(0.34)	0.00	(0.64)	0.00	0.00	4.55	(3.13)	20.54

Astronics Corporate Executives

Elected by the shareholders, the Astronics' board of directors comprises two types of representatives: Astronics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Astronics. The board's role is to monitor Astronics' management team and ensure that shareholders' interests are well served. Astronics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Astronics' outside directors are responsible for providing unbiased perspectives on the board's policies.

David Burney

CFO, Executive VP and Secretary

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