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.
Moving together with Hexcel Stock
0.92 | BA | Boeing Earnings Call This Week | PairCorr |
0.86 | CW | Curtiss Wright | PairCorr |
0.88 | GD | General Dynamics | PairCorr |
0.89 | GE | GE Aerospace | PairCorr |
0.92 | PL | Planet Labs PBC | PairCorr |
0.73 | DPRO | Draganfly | PairCorr |
0.92 | BA-PA | Boeing Earnings Call This Week | PairCorr |
0.76 | ESLT | Elbit Systems | PairCorr |
0.9 | EVEX | Eve Holding | PairCorr |
0.75 | EVTL | Vertical Aerospace | PairCorr |
0.96 | AIR | AAR Corp | PairCorr |
0.87 | CAE | CAE Inc | PairCorr |
0.93 | DCO | Ducommun Incorporated Earnings Call This Week | PairCorr |
0.67 | DRS | Leonardo DRS, Common Earnings Call This Week | PairCorr |
0.87 | HEI | Heico | PairCorr |
0.67 | HWM | Howmet Aerospace Earnings Call This Week | PairCorr |
0.9 | LHX | L3Harris Technologies | PairCorr |
0.74 | NOC | Northrop Grumman | PairCorr |
0.88 | NPK | National Presto Indu | PairCorr |
0.81 | PKE | Park Electrochemical | PairCorr |
0.61 | RDW | Redwire Corp Downward Rally | PairCorr |
0.61 | SIF | SIFCO Industries | PairCorr |
0.78 | TXT | Textron | PairCorr |
0.69 | WWD | Woodward Earnings Call This Week | PairCorr |
Moving against Hexcel Stock
0.37 | LMT | Lockheed Martin | PairCorr |
0.65 | POWW | Ammo Inc | PairCorr |
0.57 | MNTS | Momentus | PairCorr |
0.54 | LOAR | Loar Holdings | PairCorr |
0.34 | GPUS | Hyperscale Data, Symbol Change | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
CW | 1.03 | 0.62 | 0.29 | 155.70 | 0.60 | 3.01 | 6.85 | |||
MRCY | 1.74 | 0.10 | (0.02) | 0.53 | 2.58 | 3.68 | 11.63 | |||
AIR | 1.34 | 0.46 | 0.28 | 0.82 | 0.89 | 3.07 | 17.34 | |||
DCO | 1.25 | 0.62 | 0.33 | 1.72 | 0.72 | 3.95 | 8.99 | |||
MOG-A | 1.25 | 0.00 | (0.04) | 0.23 | 1.42 | 3.20 | 8.30 | |||
HEI | 1.02 | 0.34 | 0.19 | 0.88 | 0.73 | 2.17 | 9.70 | |||
TGI | 0.14 | 0.02 | (1.25) | 0.59 | 0.00 | 0.39 | 0.82 | |||
WWD | 1.08 | 0.43 | 0.28 | 0.96 | 0.63 | 2.53 | 7.99 | |||
SPR | 0.80 | 0.19 | 0.03 | 0.90 | 0.56 | 2.09 | 5.06 |