Friedman Industries Correlations

FRD Stock

USD 16.08 0.25 1.53%

The correlation of Friedman Industries 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.

Friedman Industries Correlation With Market

Modest diversification

The correlation between Friedman Industries Common and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Friedman Industries Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Friedman Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Friedman Industries Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Friedman Stock

0.64	AU	AngloGold Ashanti plc Downward Rally	Pair Corr
0.69	OR	Osisko Gold Ro	Pair Corr
0.65	EGO	Eldorado Gold Corp	Pair Corr
0.78	FNV	Franco Nevada	Pair Corr
0.65	IAG	IAMGold	Pair Corr
0.73	KGC	Kinross Gold	Pair Corr
0.75	RGLD	Royal Gold	Pair Corr
0.73	SAND	Sandstorm Gold	Pair Corr
0.68	NB	NioCorp Developments	Pair Corr
0.77	NG	NovaGold Resources	Pair Corr

Moving against Friedman Stock

0.55	HYMCL	Hycroft Mining Holding	Pair Corr
0.48	HYMCW	Hycroft Mining Holding	Pair Corr
0.32	FBIN	Fortune Brands Innov	Pair Corr

Related Correlations Analysis

	AMSYF	APEMY	ANIOY	ASTLW	SCHN	FEEXF	USAP	ZEUS	PKX
AMSYF		0.6	0.72	0.53	0.0	-0.34	0.0	0.05	0.61	AMSYF
APEMY	0.6		0.62	0.25	0.0	0.04	0.0	0.21	0.49	APEMY
ANIOY	0.72	0.62		0.54	0.0	-0.04	0.0	0.47	0.7	ANIOY
ASTLW	0.53	0.25	0.54		0.0	-0.16	0.0	0.08	0.44	ASTLW
SCHN	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SCHN
FEEXF	-0.34	0.04	-0.04	-0.16	0.0		0.0	0.52	-0.2	FEEXF
USAP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	USAP
ZEUS	0.05	0.21	0.47	0.08	0.0	0.52	0.0		0.45	ZEUS
PKX	0.61	0.49	0.7	0.44	0.0	-0.2	0.0	0.45		PKX
	AMSYF	APEMY	ANIOY	ASTLW	SCHN	FEEXF	USAP	ZEUS	PKX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ANIOY	+ 0.72	AMSYF
PKX	+ 0.7	ANIOY
ANIOY	+ 0.62	APEMY
PKX	+ 0.61	AMSYF
APEMY	+ 0.6	AMSYF
ASTLW	+ 0.54	ANIOY

High negative correlations

FEEXF	- 0.34	AMSYF
PKX	- 0.2	FEEXF
FEEXF	- 0.16	ASTLW
FEEXF	- 0.04	ANIOY
PKX	- 0.0	USAP
ZEUS	- 0.0	USAP

Risk-Adjusted Indicators

There is a big difference between Friedman Stock performing well and Friedman Industries 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 Friedman Industries' 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
AMSYF	1.09	0.11	0.00	0.62	0.00	0.00	0.56	0.00	28.10
APEMY	1.46	0.01	0.00	0.12	2.96	(2.71)	4.24	(3.44)	19.06
ANIOY	1.00	0.03	0.01	0.08	2.49	(4.80)	5.03	(1.08)	18.59
ASTLW	10.14	1.21	0.08	(1.70)	11.90	(14.06)	25.00	(16.22)	91.67
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FEEXF	2.99	(0.24)	0.00	(0.56)	0.00	0.00	12.33	(13.19)	40.48
USAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZEUS	1.95	0.01	0.01	0.05	2.75	(1.91)	5.53	(3.90)	14.85
PKX	1.74	(0.15)	0.00	(0.11)	0.00	0.00	4.63	(3.94)	14.43

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC