Alta Equipment Group Inc. Depositary Shares (each representing 1/1000th in a share of 10% Series A Cumulative Perpetual Preferred Stock) (ALTGpA) — Stock Correlations & Overview
Over the past year, ALTGpA has moved most closely with METCZ, ARLP, AOMN. Explore the stocks most correlated and inversely correlated with ALTGpA below, along with its price, financials, and company profile.
Stocks correlated with ALTGpA
Correlation of daily returns. Higher positive values move with ALTGpA; negative values move opposite it. Informational only, not investment advice.
Most correlated with ALTGpA
| Symbol | Company | Correlation |
|---|---|---|
| METCZ | Ramaco Resources, Inc. 8.375% Senior Notes due 2029BITUMINOUS COAL & LIGNITE MINING | 0.24 |
| ARLP | Alliance Resource Partners LPBITUMINOUS COAL & LIGNITE SURFACE MINING | 0.21 |
| AOMN | Angel Oak Mortgage REIT, Inc. 9.500% Senior Notes due 2029REAL ESTATE | 0.21 |
| ATLCL | Atlanticus Holdings Corporation 6.125% Senior Notes due 2026PERSONAL CREDIT INSTITUTIONS | 0.20 |
| BIVI | BioVie, Inc. Common StockPHARMACEUTICAL PREPARATIONS | 0.20 |
Most inversely correlated with ALTGpA
| Symbol | Company | Correlation |
|---|---|---|
| HVII | Hennessy Capital Investment Corp. VII Ordinary SharesELECTRIC SERVICES | -0.29 |
| ALVO | Alvotech Ordinary Shares | -0.24 |
| PFAI | Pinnacle Food Group Limited Class A Common Shares | -0.23 |
| USBC | USBC, Inc.FINANCE SERVICES | -0.22 |
| EVAC | EQV Ventures Acquisition Corp. IIBLANK CHECKS | -0.21 |
Frequently asked questions about ALTGpA correlations
- Which stocks are most correlated with ALTGpA?
- Based on one year of daily returns, the stocks most correlated with Alta Equipment Group Inc. Depositary Shares (each representing 1/1000th in a share of 10% Series A Cumulative Perpetual Preferred Stock) (ALTGpA) are METCZ (0.24), ARLP (0.21) and AOMN (0.21). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ALTGpA?
- Over the past year, the stocks most inversely correlated with Alta Equipment Group Inc. Depositary Shares (each representing 1/1000th in a share of 10% Series A Cumulative Perpetual Preferred Stock) (ALTGpA) are HVII (-0.29), ALVO (-0.24) and PFAI (-0.23). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ALTGpA correlations calculated?
- We compute the correlation of daily returns between ALTGpA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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