HEICO Correlations

HEI-A Stock

USD 252.66 3.70 1.49%

The current 90-days correlation between HEICO and Heico is 0.89 (i.e., Very poor diversification). The correlation of HEICO 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.

HEICO Correlation With Market

Average diversification

The correlation between HEICO and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HEICO and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with HEICO Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HEICO. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade HEICO Stock refer to our How to Trade HEICO Stock guide.

Moving together with HEICO Stock

0.65	NVDA	NVIDIA	Pair Corr
0.89	AMZN	Amazon Inc Earnings Call This Week	Pair Corr
0.63	AVGO	Broadcom	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.72	IBM	International Business	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr

Moving against HEICO Stock

0.72	MCD	McDonalds	Pair Corr
0.31	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	EVEX	HEI	MRCY	AVAV	HWM	MOG-A	LEN-B	MOG-B	BWXT
EVEX		0.92	0.6	0.66	0.69	0.4	0.22	0.42	0.88	EVEX
HEI	0.92		0.65	0.52	0.65	0.31	0.05	0.3	0.96	HEI
MRCY	0.6	0.65		0.41	0.37	-0.03	0.03	0.34	0.76	MRCY
AVAV	0.66	0.52	0.41		0.83	0.54	0.48	0.73	0.54	AVAV
HWM	0.69	0.65	0.37	0.83		0.75	0.4	0.75	0.62	HWM
MOG-A	0.4	0.31	-0.03	0.54	0.75		0.44	0.59	0.18	MOG-A
LEN-B	0.22	0.05	0.03	0.48	0.4	0.44		0.35	0.05	LEN-B
MOG-B	0.42	0.3	0.34	0.73	0.75	0.59	0.35		0.37	MOG-B
BWXT	0.88	0.96	0.76	0.54	0.62	0.18	0.05	0.37		BWXT
	EVEX	HEI	MRCY	AVAV	HWM	MOG-A	LEN-B	MOG-B	BWXT

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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

BWXT	+ 0.96	HEI
HEI	+ 0.92	EVEX
BWXT	+ 0.88	EVEX
HWM	+ 0.83	AVAV
BWXT	+ 0.76	MRCY
MOG-A	+ 0.75	HWM

High negative correlations

MOG-A

- 0.03

MRCY

Risk-Adjusted Indicators

There is a big difference between HEICO Stock performing well and HEICO 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 HEICO'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
EVEX	4.00	0.63	0.24	0.44	3.57	(4.77)	11.87	(7.07)	21.50
HEI	1.06	0.29	0.15	0.67	0.99	(1.24)	2.17	(1.94)	9.70
MRCY	1.75	0.09	(0.01)	0.46	2.59	(1.57)	3.68	(4.00)	11.63
AVAV	2.60	1.00	0.29	3.82	2.20	(3.16)	5.36	(3.12)	32.98
HWM	1.12	0.48	0.20	1.80	1.03	(1.30)	2.90	(1.59)	12.15
MOG-A	1.22	0.04	(0.01)	0.26	1.36	(1.27)	3.20	(2.25)	8.30
LEN-B	1.82	(0.08)	(0.02)	0.14	1.93	(1.99)	4.15	(3.47)	9.64
MOG-B	0.70	0.25	0.00	1.03	0.00	0.00	3.05	0.00	10.36
BWXT	1.23	0.41	0.16	1.05	1.14	(1.33)	3.11	(2.56)	15.49

HEICO Corporate Management

Steven CPA	Chief Treasurer	Profile
Carlos Macau	CFO VP	Profile
Laurans Mendelson	Executive Board	Profile
Elizabeth Letendre	Corporate Secretary	Profile
Bradley Rowen	Chief Treasurer	Profile

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