AstroNova Correlations

ALOT Stock

USD 7.99 0.14 1.72%

The current 90-days correlation between AstroNova and Planet Image International is 0.04 (i.e., Significant diversification). The correlation of AstroNova 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.

AstroNova Correlation With Market

Good diversification

The correlation between AstroNova and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AstroNova and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AstroNova Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AstroNova. 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.

For more information on how to buy AstroNova Stock please use our How to Invest in AstroNova guide.

Moving together with AstroNova Stock

0.73	PG	Procter Gamble	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.85	HD	Home Depot	Pair Corr
0.74	BA	Boeing	Pair Corr

Moving against AstroNova Stock

0.92	CSCO	Cisco Systems	Pair Corr
0.87	NHIC	NewHold Investment Corp	Pair Corr
0.85	PPERY	Bank Mandiri Persero	Pair Corr
0.85	JBHT	JB Hunt Transport	Pair Corr
0.84	AAPL	Apple Inc	Pair Corr
0.84	MTC	MMTEC Inc Tech Boost	Pair Corr
0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.63	PBCRY	Bank Central Asia	Pair Corr
0.56	MZHOF	Mizuho Financial	Pair Corr
0.44	BKRKF	PT Bank Rakyat	Pair Corr
0.32	JPSTF	JAPAN POST BANK	Pair Corr
0.89	DD	Dupont De Nemours	Pair Corr
0.88	MRK	Merck Company	Pair Corr
0.85	KO	Coca Cola	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.74	AXP	American Express	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	IBM	International Business	Pair Corr
0.68	BAC	Bank of America Aggressive Push	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.49	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	YIBO	QMCO	MSAI	UAVS	AMPG	INVE	TACT	ZENV	SNCR	QH
YIBO		0.5	0.06	0.74	0.7	0.46	0.63	0.44	0.04	0.73	YIBO
QMCO	0.5		-0.24	0.84	0.72	0.29	0.78	0.51	0.15	0.71	QMCO
MSAI	0.06	-0.24		-0.11	-0.37	0.53	-0.27	0.18	-0.27	-0.35	MSAI
UAVS	0.74	0.84	-0.11		0.79	0.38	0.84	0.52	-0.08	0.88	UAVS
AMPG	0.7	0.72	-0.37	0.79		0.12	0.8	0.16	0.21	0.79	AMPG
INVE	0.46	0.29	0.53	0.38	0.12		0.12	0.34	0.0	0.24	INVE
TACT	0.63	0.78	-0.27	0.84	0.8	0.12		0.44	0.09	0.76	TACT
ZENV	0.44	0.51	0.18	0.52	0.16	0.34	0.44		-0.28	0.36	ZENV
SNCR	0.04	0.15	-0.27	-0.08	0.21	0.0	0.09	-0.28		-0.02	SNCR
QH	0.73	0.71	-0.35	0.88	0.79	0.24	0.76	0.36	-0.02		QH
	YIBO	QMCO	MSAI	UAVS	AMPG	INVE	TACT	ZENV	SNCR	QH

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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

QH	+ 0.88	UAVS
UAVS	+ 0.84	QMCO
TACT	+ 0.84	UAVS
TACT	+ 0.8	AMPG
AMPG	+ 0.79	UAVS
QH	+ 0.79	AMPG

High negative correlations

AMPG	- 0.37	MSAI
QH	- 0.35	MSAI
SNCR	- 0.28	ZENV
SNCR	- 0.27	MSAI
TACT	- 0.27	MSAI
MSAI	- 0.24	QMCO

Risk-Adjusted Indicators

There is a big difference between AstroNova Stock performing well and AstroNova 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 AstroNova'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
YIBO	2.81	(0.46)	0.00	(0.43)	0.00	0.00	5.94	(6.77)	18.11
QMCO	4.92	0.38	0.10	0.19	4.80	(5.80)	9.98	(8.70)	53.19
MSAI	9.19	0.31	0.03	0.37	10.12	(13.58)	20.00	(17.76)	133.82
UAVS	5.18	(0.84)	0.00	(0.14)	0.00	0.00	11.32	(8.57)	37.69
AMPG	4.74	(0.27)	0.00	(0.07)	0.00	0.00	12.04	(10.00)	30.11
INVE	2.40	(0.08)	(0.02)	0.00	3.35	(2.34)	4.62	(5.84)	16.99
TACT	2.05	(0.11)	0.00	(0.13)	0.00	0.00	4.17	(3.56)	17.35
ZENV	2.42	(0.02)	0.00	0.17	0.00	0.00	5.60	(5.67)	16.11
SNCR	3.88	0.73	0.21	0.45	3.17	(4.76)	6.21	(6.30)	66.07
QH	9.71	(0.10)	0.00	0.04	16.86	(10.18)	25.50	(14.32)	109.99

AstroNova Corporate Management

Thomas DeByle	Treasurer VP	Profile
Thomas CPA	Treasurer VP	Profile
Jorik Ittmann	Senior Identification	Profile
Matthew Cook	Vice Development	Profile
Michelle Graban	Deputy Resources	Profile
Raj Ramasamy	Chief Officer	Profile
Peter Rosenblum	Secretary	Profile

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