Atlas Copco Correlations

ATLKY Stock  USD 17.74  1.50  9.24%   
The correlation of Atlas Copco 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Atlas Copco moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atlas Copco AB 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.

Very weak diversification

The correlation between Atlas Copco AB and NYA is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Copco AB and NYA in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Atlas Copco AB. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in industry.
  
The ability to find closely correlated positions to Atlas Copco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Atlas Copco 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 Atlas Copco - 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 Atlas Copco AB to buy it.

Moving together with Atlas Pink Sheet

  0.63ETN Eaton PLC Earnings Call This WeekPairCorr
  0.9SMAWF Siemens AG ClassPairCorr
  0.9SBGSY Schneider Electric Earnings Call TomorrowPairCorr
  0.89SBGSF Schneider Electric Earnings Call TomorrowPairCorr
  0.69PH Parker Hannifin Earnings Call Next WeekPairCorr
  0.72EMR Emerson Electric Sell-off TrendPairCorr
  0.68ATLPF Atlas Copco ABPairCorr
  0.78NTNX Nutanix Report 22nd of May 2024 PairCorr
  0.84LOW Lowes Companies Financial Report 28th of May 2024 PairCorr
  0.83WMT Walmart Financial Report 16th of May 2024 PairCorr
  0.7META Meta PlatformsPairCorr
  0.64SYRE Spyre Therapeutics Symbol ChangePairCorr
  0.64DNSKF Danske Bank ASPairCorr

Moving against Atlas Pink Sheet

  0.56MSB Mesabi TrustPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Atlas Pink Sheet performing well and Atlas Copco 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 Atlas Copco'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Atlas Copco 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 AI Investment Finder Now

   

AI Investment Finder

Use AI to screen and filter profitable investment opportunities
All  Next Launch Module

Atlas Copco Corporate Directors

Atlas Copco corporate directors refer to members of an Atlas Copco board of directors. The board of directors generally takes responsibility for the Atlas Copco'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 Atlas Copco's board members must vote for the resolution. The Atlas Copco board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Anders UllbergIndependent DirectorProfile
Ulla LitzenIndependent DirectorProfile
Bengt LindgrenDirector, Employee RepresentativeProfile
Johan ForssellDirectorProfile

Already Invested in Atlas Copco AB?

The danger of trading Atlas Copco AB 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 Atlas Copco 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 Atlas Copco. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Atlas Copco AB 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 Atlas Copco AB. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in industry.
You can also try the CEOs Directory module to screen CEOs from public companies around the world.

Complementary Tools for Atlas Pink Sheet analysis

When running Atlas Copco's price analysis, check to measure Atlas Copco'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 Atlas Copco is operating at the current time. Most of Atlas Copco's value examination focuses on studying past and present price action to predict the probability of Atlas Copco's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Atlas Copco's price. Additionally, you may evaluate how the addition of Atlas Copco to your portfolios can decrease your overall portfolio volatility.
Pair Correlation
Compare performance and examine fundamental relationship between any two equity instruments
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
ETFs
Find actively traded Exchange Traded Funds (ETF) from around the world
Sectors
List of equity sectors categorizing publicly traded companies based on their primary business activities
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
Idea Analyzer
Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas
Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.
Please note, there is a significant difference between Atlas Copco's value and its price as these two are different measures arrived at by different means. Investors typically determine if Atlas Copco is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Atlas Copco'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.