American Axle Correlations

AXL Stock

USD 4.55 0.22 4.61%

The current 90-days correlation between American Axle Manufa and Autoliv is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Axle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Axle Manufacturing moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Axle Correlation With Market

Very weak diversification

The correlation between American Axle Manufacturing and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Axle Manufacturing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with American Stock

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

Moving together with American Stock

0.72	F	Ford Motor Earnings Call This Week	Pair Corr
0.78	GM	General Motors Earnings Call Tomorrow	Pair Corr
0.63	GT	Goodyear Tire Rubber	Pair Corr
0.84	LI	Li Auto	Pair Corr
0.71	VC	Visteon Corp Earnings Call This Week	Pair Corr
0.9	ZK	ZEEKR Intelligent	Pair Corr
0.81	DORM	Dorman Products	Pair Corr
0.74	ALV	Autoliv	Pair Corr
0.88	BWA	BorgWarner	Pair Corr
0.78	FOXF	Fox Factory Holding	Pair Corr
0.91	CPS	Cooper Stnd	Pair Corr
0.85	DAN	Dana Inc	Pair Corr
0.71	ECX	ECARX Holdings Class	Pair Corr
0.7	MBLY	Mobileye Global Class	Pair Corr
0.72	MPAA	Motorcar Parts	Pair Corr
0.68	NWTN	NWTN Class B	Pair Corr
0.84	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.7	M	Macys Inc	Pair Corr
0.68	W	Wayfair	Pair Corr
0.7	AN	AutoNation	Pair Corr
0.75	AS	Amer Sports,	Pair Corr
0.72	BC	Brunswick Earnings Call This Week	Pair Corr
0.66	FL	Foot Locker	Pair Corr

Moving against American Stock

0.85	MULN	Mullen Automotive	Pair Corr
0.67	ECDA	ECD Automotive Design	Pair Corr
0.41	EVTV	Envirotech Vehicles	Pair Corr
0.7	SG	Sweetgreen	Pair Corr
0.66	DNUT	Krispy Kreme	Pair Corr
0.35	JD	JD Inc Adr Aggressive Push	Pair Corr

Related Correlations Analysis

	LEA	CVGI	ADNT	GNTX	ALV	FOXF	DAN	VC	ALSN	CPS
LEA		0.94	0.93	0.83	0.9	0.83	0.75	0.98	0.06	0.7	LEA
CVGI	0.94		0.92	0.74	0.91	0.89	0.77	0.91	0.13	0.65	CVGI
ADNT	0.93	0.92		0.64	0.97	0.85	0.8	0.96	-0.05	0.6	ADNT
GNTX	0.83	0.74	0.64		0.57	0.61	0.43	0.75	0.1	0.55	GNTX
ALV	0.9	0.91	0.97	0.57		0.9	0.9	0.92	0.12	0.68	ALV
FOXF	0.83	0.89	0.85	0.61	0.9		0.9	0.78	0.42	0.72	FOXF
DAN	0.75	0.77	0.8	0.43	0.9	0.9		0.72	0.48	0.83	DAN
VC	0.98	0.91	0.96	0.75	0.92	0.78	0.72		-0.09	0.63	VC
ALSN	0.06	0.13	-0.05	0.1	0.12	0.42	0.48	-0.09		0.59	ALSN
CPS	0.7	0.65	0.6	0.55	0.68	0.72	0.83	0.63	0.59		CPS
	LEA	CVGI	ADNT	GNTX	ALV	FOXF	DAN	VC	ALSN	CPS

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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

VC	+ 0.98	LEA
ALV	+ 0.97	ADNT
VC	+ 0.96	ADNT
CVGI	+ 0.94	LEA
ADNT	+ 0.93	LEA
ADNT	+ 0.92	CVGI

High negative correlations

ALSN	- 0.09	VC
ALSN	- 0.05	ADNT

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Axle 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 Axle'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
LEA	1.59	0.28	0.21	0.36	1.21	(1.92)	4.13	(2.48)	8.54
CVGI	5.02	0.70	0.20	0.32	4.52	(5.86)	12.61	(7.78)	23.87
ADNT	2.28	0.89	0.53	0.77	1.04	(2.97)	6.70	(2.69)	13.27
GNTX	1.26	(0.01)	(0.01)	0.12	1.23	(1.56)	2.51	(2.38)	8.03
ALV	1.22	0.38	0.26	0.63	0.82	(1.45)	3.25	(1.47)	7.29
FOXF	2.12	0.25	0.13	0.29	2.04	(2.43)	5.07	(4.23)	16.27
DAN	1.84	0.47	0.26	0.54	1.30	(2.07)	4.80	(2.60)	10.01
VC	1.61	0.56	0.34	0.66	1.11	(2.00)	4.59	(2.31)	10.00
ALSN	1.25	(0.20)	0.00	(0.03)	0.00	0.00	3.01	(2.93)	8.81
CPS	3.52	0.82	0.26	0.54	2.94	(4.19)	6.17	(6.35)	54.04

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