Hexcel Correlations

HXL Stock  USD 61.11  1.25  2.00%   
The current 90-days correlation between Hexcel and Curtiss Wright is -0.15 (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

Good diversification

The correlation between Hexcel and DJI is -0.14 (i.e., Good 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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  0.85HEI HeicoPairCorr
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  0.89LHX L3Harris TechnologiesPairCorr
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  0.83PKE Park ElectrochemicalPairCorr
  0.69RDW Redwire CorpPairCorr
  0.91RTX Raytheon TechnologiesPairCorr
  0.85SIF SIFCO IndustriesPairCorr
  0.93SPR Spirit AerosystemsPairCorr
  0.76TDG Transdigm GroupPairCorr
  0.87TGI Triumph GroupPairCorr
  0.88TXT TextronPairCorr
  0.92WWD Woodward Earnings Call This WeekPairCorr

Moving against Hexcel Stock

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  0.52LMT Lockheed MartinPairCorr
  0.8POWW Ammo IncPairCorr
  0.77MNTS MomentusPairCorr
  0.74LOAR Loar HoldingsPairCorr
  0.54GPUS Hyperscale Data, Symbol ChangePairCorr
  0.36RAIN Rain Enhancement TecPairCorr
  0.32RAINW Rain Enhancement TecPairCorr

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.