Hexcel Correlations

HXL Stock  USD 62.36  0.24  0.38%   
The current 90-days correlation between Hexcel and Curtiss Wright is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hexcel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hexcel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hexcel Correlation With Market

Very weak diversification

The correlation between Hexcel and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hexcel and DJI in the same portfolio, assuming nothing else is changed.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hexcel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For more information on how to buy Hexcel Stock please use our How to buy in Hexcel Stock guide.

Moving together with Hexcel Stock

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Moving against Hexcel Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

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