Allegheny Technologies Correlations

Stocks . Germany . 
Stock . Allegheny Technologies Incorporated
ATD Stock  EUR 51.92  0.30  0.58%   
The current 90-days correlation between Allegheny Technologies and China International Marine is -0.11 (i.e., Good diversification). The correlation of Allegheny Technologies 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.

Allegheny Technologies Correlation With Market

Very weak diversification

The correlation between Allegheny Technologies Incorpo and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allegheny Technologies Incorpo and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Allegheny Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allegheny Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Allegheny Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Allegheny Technologies Incorporated to buy it.

Moving against Allegheny Stock

  0.63MUD Mueller IndustriesPairCorr
  0.54QAN Qantas AirwaysPairCorr
  0.5H0O REVO INSURANCE SPAPairCorr
  0.4MAQ Marriott InternationalPairCorr
  0.59SIX2 Sixt SEPairCorr
  0.48TSFA Taiwan SemiconductorPairCorr
  0.47BBEA Boston BeerPairCorr
  0.44BZZ Bank of MontrealPairCorr
  0.42UIPN Unipol Gruppo FinanziarioPairCorr
  0.4EMR EMERSON ELECTRICPairCorr
  0.39ENR Siemens Energy AGPairCorr
  0.39117 Arista Networks SplitPairCorr
  0.38GKD Grand Canyon EducationPairCorr
  0.36KEY KeyCorpPairCorr
  0.33OM6 OReilly AutomotivePairCorr
  0.47ZIM Zimmer Biomet HoldingsPairCorr
  0.43HI91 Hilton Worldwide HoldingsPairCorr
  0.43TEV Teva PharmaceuticalPairCorr
  0.4TM5 T MobilePairCorr
  0.4NSE Nomura HoldingsPairCorr
  0.37OCBA Oversea Chinese BankingPairCorr

Related Correlations Analysis

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   
TKA1
+ 0.95
TKA
XTY
+ 0.74
TKA
XTY
+ 0.7
TKA1
XTY
+ 0.6
MUD
MUD
+ 0.33
TKA
MUD
+ 0.31
TKA1
  
High negative correlations   
MUD
- 0.63
ATD
TKA
- 0.26
OCM
TKA1
- 0.24
OCM
TKA1
- 0.22
ATD
TKA
- 0.22
ATD
XTY
- 0.21
ATD

Risk-Adjusted Indicators

There is a big difference between Allegheny Stock performing well and Allegheny Technologies 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 Allegheny Technologies' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Allegheny Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Commodity Channel Now

   

Commodity Channel

Use Commodity Channel Index to analyze current equity momentum
All  Next Launch Module

Allegheny Technologies Corporate Management

Elected by the shareholders, the Allegheny Technologies' board of directors comprises two types of representatives: Allegheny Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Allegheny. The board's role is to monitor Allegheny Technologies' management team and ensure that shareholders' interests are well served. Allegheny Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Allegheny Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
Timothy HarrisVP OfficerProfile
Tina BuschVP OfficerProfile
Robert WetherbeePres ChairmanProfile
Jimmy WilliamsVP CTOProfile
Kimberly FieldsEx COOProfile
Kevin KramerVP OfficerProfile
John MinichPres ProductsProfile
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
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY