Virgin Galactic Correlations

SPCE Stock

USD 3.56 0.16 4.30%

The correlation of Virgin Galactic 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.

Virgin Galactic Correlation With Market

Weak diversification

The correlation between Virgin Galactic Holdings and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virgin Galactic Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Virgin Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Virgin Galactic Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Virgin Stock

0.66	EH	Ehang Holdings Downward Rally	Pair Corr
0.76	PL	Planet Labs PBC Earnings Call This Week	Pair Corr
0.79	VTSI	VirTra Inc	Pair Corr
0.69	EVTL	Vertical Aerospace Upward Rally	Pair Corr
0.76	AIR	AAR Corp	Pair Corr
0.66	HXL	Hexcel	Pair Corr
0.75	PKE	Park Electrochemical Earnings Call Today	Pair Corr
0.68	RDW	Redwire Corp Trending	Pair Corr
0.7	SIF	SIFCO Industries	Pair Corr
0.73	TXT	Textron	Pair Corr

Moving against Virgin Stock

0.54	NOC	Northrop Grumman	Pair Corr
0.41	SHMDW	SCHMID Group NV	Pair Corr
0.39	LOAR	Loar Holdings	Pair Corr

Related Correlations Analysis

	ASTR	PL	EVEX	RDW	LMT	RTX	NOC	GD	RKLB	MNTS
ASTR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASTR
PL	0.0		0.29	0.72	-0.38	0.33	-0.53	-0.59	0.03	0.77	PL
EVEX	0.0	0.29		0.69	0.13	0.34	-0.5	0.21	0.82	0.25	EVEX
RDW	0.0	0.72	0.69		-0.03	0.25	-0.66	-0.26	0.58	0.64	RDW
LMT	0.0	-0.38	0.13	-0.03		0.13	0.16	0.7	0.37	-0.52	LMT
RTX	0.0	0.33	0.34	0.25	0.13		0.12	0.36	0.32	-0.04	RTX
NOC	0.0	-0.53	-0.5	-0.66	0.16	0.12		0.43	-0.41	-0.39	NOC
GD	0.0	-0.59	0.21	-0.26	0.7	0.36	0.43		0.43	-0.66	GD
RKLB	0.0	0.03	0.82	0.58	0.37	0.32	-0.41	0.43		-0.04	RKLB
MNTS	0.0	0.77	0.25	0.64	-0.52	-0.04	-0.39	-0.66	-0.04		MNTS
	ASTR	PL	EVEX	RDW	LMT	RTX	NOC	GD	RKLB	MNTS

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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

RKLB	+ 0.82	EVEX
MNTS	+ 0.77	PL
RDW	+ 0.72	PL
GD	+ 0.7	LMT
RDW	+ 0.69	EVEX
MNTS	+ 0.64	RDW

High negative correlations

MNTS	- 0.66	GD
NOC	- 0.66	RDW
GD	- 0.59	PL
NOC	- 0.53	PL
MNTS	- 0.52	LMT
NOC	- 0.5	EVEX

Risk-Adjusted Indicators

There is a big difference between Virgin Stock performing well and Virgin Galactic 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 Virgin Galactic'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
ASTR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PL	3.88	(0.50)	0.00	0.60	0.00	0.00	6.38	(8.54)	27.11
EVEX	3.90	0.39	0.08	0.26	4.51	(4.14)	8.83	(8.10)	17.89
RDW	5.71	0.21	0.02	0.04	6.56	(6.39)	12.87	(11.88)	37.03
LMT	1.18	0.15	0.09	0.31	1.76	(1.20)	2.63	(2.72)	8.43
RTX	1.42	0.18	0.06	0.21	2.65	(1.42)	2.67	(2.19)	16.43
NOC	1.43	0.12	0.05	0.59	2.81	(1.40)	2.99	(3.05)	16.79
GD	1.13	0.25	0.14	0.30	1.56	(1.19)	2.72	(2.33)	12.12
RKLB	4.45	0.53	0.09	0.21	5.38	(4.54)	10.14	(8.93)	31.06
MNTS	4.53	(1.08)	0.00	(5.26)	0.00	0.00	9.36	(9.60)	32.49

Virgin Galactic Corporate Management

Seth Zaslow	Vice President - Investor Relations	Profile
Aleanna Crane	Vice Communications	Profile
David Mackay	Chief Pilot	Profile
Swami Iyer	President - Aerospace Systems	Profile

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