American Superconductor Correlations

Stocks . USA . 
Stock . American Superconductor
AMSC Stock  USD 6.15  0.13  2.07%   
The correlation of American Superconductor is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Superconductor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Superconductor moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Superconductor. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as various price indices. For information on how to trade American Stock refer to our How to Trade American Stock guide.
  
The ability to find closely correlated positions to American Superconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace American Superconductor 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 American Superconductor - 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 American Superconductor to buy it.

Moving together with American Stock

+0.68HIHillenbrand Fiscal Quarter End 30th of June 2023 PairCorr
+0.62IRIngersoll Rand Fiscal Quarter End 30th of June 2023 PairCorr
+0.73PHParker-Hannifin Fiscal Quarter End 30th of June 2023 PairCorr
+0.64EPACEnerpac Tool Group Report 21st of June 2023 PairCorr
+0.78CIRCIRCOR International TrendingPairCorr
+0.74CYDChina Yuchai Interna Fiscal Year End 22nd of February 2024 PairCorr

Moving against American Stock

-0.51DCIDonaldson Fiscal Quarter End 31st of July 2023 PairCorr
-0.48CRCrane Company Symbol ChangePairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
IR
+ 0.9
HI
FELE
+ 0.86
IR
PH
+ 0.84
IR
FELE
+ 0.8
HI
FELE
+ 0.79
PH
IR
+ 0.78
B
  
High negative correlations   
EPAC
- 0.43
BW
EPAC
- 0.24
B
EPAC
- 0.19
GE
HI
- 0.12
BW
FELE
- 0.09
BW
EPAC
- 0.04
EFXT

Risk-Adjusted Indicators

Nowadays, there is a big difference between American Stock performing well and American Superconductor company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze American Superconductor's multiple risk-adjusted performance indicators. 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		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
B 1.36  0.01  0.01  0.01  1.69  0.0055 (1.42)  2.29 (2.40)  12.46 
BW 2.59  0.04  0.01  0.02  3.30  0.0122 (2.72)  5.25 (5.39)  17.60 
GE 1.19  0.31  0.21  0.35  1.11  0.20 (1.33)  2.51 (2.27)  8.08 
HI 1.66  0.16  0.08  0.10  1.94  0.08 (1.83)  3.56 (3.57)  8.08 
IR 1.44  0.09  0.04  0.05  1.85  0.0419 (1.49)  3.64 (3.05)  9.77 
PH 1.58 (0.01)  0.00  0.00  2.22 (0.0041) (1.58)  3.57 (3.55)  9.04 
EFXT 1.78 (0.16)  0.00 (0.10)  0.00 (0.07)  0.00  4.21 (4.27)  10.87 
EPAC 1.55  0.00  0.00  0.00  2.28 (0.0013) (1.47)  3.24 (3.45)  9.86 
FELE 1.41  0.09  0.05  0.07  1.60  0.0489 (1.42)  3.06 (2.26)  9.65 

Be your own money manager

Our tools can tell you how much better you can do entering a position in American Superconductor 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.

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American Superconductor Corporate Directors

American Superconductor corporate directors refer to members of an American Superconductor board of directors. The board of directors generally takes responsibility for the American Superconductor's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of American Superconductor's board members must vote for the resolution. The American Superconductor board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
John SandeIndependent DirectorProfile
Barbara LittlefieldDirectorProfile
David OliverIndependent DirectorProfile
Pamela LenehanIndependent DirectorProfile

Already Invested in American Superconductor?

The danger of trading American Superconductor is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of American Superconductor is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than American Superconductor. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile American Superconductor is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Superconductor. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as various price indices. For information on how to trade American Stock refer to our How to Trade American Stock guide. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.

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When running American Superconductor's price analysis, check to measure American Superconductor's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy American Superconductor is operating at the current time. Most of American Superconductor's value examination focuses on studying past and present price action to predict the probability of American Superconductor's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move American Superconductor's price. Additionally, you may evaluate how the addition of American Superconductor to your portfolios can decrease your overall portfolio volatility.
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Is American Superconductor's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of American Superconductor. If investors know American will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about American Superconductor listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(1.29) 
Revenue Per Share
3.704
Quarterly Revenue Growth
(0.11) 
Return On Assets
(0.12) 
Return On Equity
(0.33) 
The market value of American Superconductor is measured differently than its book value, which is the value of American that is recorded on the company's balance sheet. Investors also form their own opinion of American Superconductor's value that differs from its market value or its book value, called intrinsic value, which is American Superconductor's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because American Superconductor's market value can be influenced by many factors that don't directly affect American Superconductor's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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Please note, there is a significant difference between American Superconductor's value and its price as these two are different measures arrived at by different means. Investors typically determine if American Superconductor is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, American Superconductor's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
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