AAR Corp Correlations

AIR Stock

USD 114.34 1.25 1.11%

The current 90-days correlation between AAR Corp and Heico is 0.62 (i.e., Poor diversification). The correlation of AAR Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

AAR Corp Correlation With Market

Very poor diversification

The correlation between AAR Corp and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AAR Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AAR Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AAR Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

To learn how to invest in AAR Stock, please use our How to Invest in AAR Corp guide.

Moving together with AAR Stock

0.89	BA	Boeing	Pair Corr
0.84	GD	General Dynamics	Pair Corr
0.78	VOYG	Voyager Technologies	Pair Corr
0.73	FLY	Firefly Aerospace Common	Pair Corr
0.96	LHX	L3Harris Technologies	Pair Corr
0.97	LMT	Lockheed Martin	Pair Corr
0.97	NOC	Northrop Grumman	Pair Corr
0.92	RTX	Raytheon Technologies	Pair Corr
0.97	FTG	Firan Technology	Pair Corr
0.83	OBYCF	Obayashi Earnings Call Today	Pair Corr
0.94	RILYL	B Riley Financial	Pair Corr
0.89	SECVY	Seche Environnement	Pair Corr
0.66	BNKHF	BOC Hong Kong	Pair Corr

Moving against AAR Stock

0.82	PBCRY	Bank Central Asia	Pair Corr
0.49	PBCRF	PT Bank Central	Pair Corr
0.36	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	URI	FDX	CNI	TDG	CMI	HEI	PCAR	PWR
URI		0.37	0.45	0.5	0.47	0.77	0.45	0.12	URI
FDX	0.37		0.63	0.29	0.88	0.57	0.92	0.47	FDX
CNI	0.45	0.63		0.23	0.64	0.54	0.72	0.2	CNI
TDG	0.5	0.29	0.23		0.59	0.58	0.45	0.31	TDG
CMI	0.47	0.88	0.64	0.59		0.66	0.96	0.51	CMI
HEI	0.77	0.57	0.54	0.58	0.66		0.62	0.07	HEI
PCAR	0.45	0.92	0.72	0.45	0.96	0.62		0.48	PCAR
PWR	0.12	0.47	0.2	0.31	0.51	0.07	0.48		PWR
	URI	FDX	CNI	TDG	CMI	HEI	PCAR	PWR

Risk-Adjusted Indicators

There is a big difference between AAR Stock performing well and AAR Corp 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 AAR Corp'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
URI	1.70	(0.03)	0.01	0.06	2.57	(1.86)	4.42	(3.19)	17.82
FDX	1.18	0.51	0.45	0.67	0.46	(1.44)	3.52	(1.59)	7.76
CNI	1.12	0.03	0.01	0.11	1.47	(1.22)	2.53	(2.23)	7.66
TDG	1.02	(0.04)	0.00	(0.04)	0.00	0.00	1.76	(2.03)	12.34
CMI	1.60	0.31	0.14	0.26	2.23	(1.74)	2.87	(2.50)	16.11
HEI	1.23	(0.02)	(0.01)	0.06	1.41	(1.26)	2.42	(2.39)	8.75
PCAR	1.29	0.35	0.35	0.41	0.62	(1.69)	3.68	(1.52)	7.16
PWR	1.72	0.12	0.04	0.19	2.59	(1.66)	3.37	(5.00)	9.63

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