AeroVironment Correlations

AVAV Stock

USD 168.74 3.35 2.03%

The current 90-days correlation between AeroVironment and Aerojet Rocketdyne Holdings is -0.07 (i.e., Good diversification). The correlation of AeroVironment 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.

AeroVironment Correlation With Market

Average diversification

The correlation between AeroVironment and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AeroVironment and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy AeroVironment Stock please use our How to Invest in AeroVironment guide.

Moving together with AeroVironment Stock

0.66	EH	Ehang Holdings	Pair Corr
0.95	GD	General Dynamics Earnings Call Tomorrow	Pair Corr
0.89	LHX	L3Harris Technologies Earnings Call This Week	Pair Corr
0.87	LMT	Lockheed Martin Earnings Call Today	Pair Corr
0.91	NOC	Northrop Grumman Earnings Call This Week	Pair Corr
0.93	RGR	Sturm Ruger	Pair Corr
0.79	RTX	Raytheon Technologies Fiscal Year End 28th of January 2025	Pair Corr
0.68	TDG	Transdigm Group	Pair Corr
0.79	TXT	Textron Earnings Call Tomorrow	Pair Corr
0.84	VVX	V2X Inc	Pair Corr

Moving against AeroVironment Stock

0.92	SATLW	Satellogic Warrant	Pair Corr
0.88	EVEX	Eve Holding	Pair Corr
0.88	CAE	CAE Inc	Pair Corr
0.87	PL	Planet Labs PBC	Pair Corr
0.82	DPRO	Draganfly	Pair Corr
0.78	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.78	ESLT	Elbit Systems	Pair Corr
0.73	EVTL	Vertical Aerospace	Pair Corr
0.72	AZ	A2Z Smart Technologies	Pair Corr
0.71	CVU	CPI Aerostructures	Pair Corr
0.66	BA-PA	Boeing	Pair Corr
0.32	DRS	Leonardo DRS, Common	Pair Corr
0.93	NPK	National Presto Indu	Pair Corr
0.83	RDW	Redwire Corp	Pair Corr
0.72	TGI	Triumph Group	Pair Corr
0.68	SPR	Spirit Aerosystems	Pair Corr
0.5	HXL	Hexcel Earnings Call Tomorrow	Pair Corr
0.47	HWM	Howmet Aerospace	Pair Corr
0.4	ERJ	Embraer SA ADR	Pair Corr
0.79	HOVR	New Horizon Aircraft	Pair Corr
0.78	HOVRW	New Horizon Aircraft	Pair Corr
0.76	LUNR	Intuitive Machines Aggressive Push	Pair Corr
0.65	ISSC	Innovative Solutions and	Pair Corr

Related Correlations Analysis

	LHX	AJRD	MRCY	TXT	HEI-A	EVTL	RLLCF	ERJ	RKLB
LHX		0.17	-0.39	0.89	0.77	-0.78	0.78	-0.2	-0.74	LHX
AJRD	0.17		-0.37	0.16	-0.32	-0.18	-0.02	-0.59	-0.65	AJRD
MRCY	-0.39	-0.37		-0.32	-0.18	0.46	-0.64	0.77	0.71	MRCY
TXT	0.89	0.16	-0.32		0.79	-0.62	0.73	-0.18	-0.65	TXT
HEI-A	0.77	-0.32	-0.18	0.79		-0.54	0.71	0.14	-0.29	HEI-A
EVTL	-0.78	-0.18	0.46	-0.62	-0.54		-0.64	0.26	0.71	EVTL
RLLCF	0.78	-0.02	-0.64	0.73	0.71	-0.64		-0.36	-0.62	RLLCF
ERJ	-0.2	-0.59	0.77	-0.18	0.14	0.26	-0.36		0.69	ERJ
RKLB	-0.74	-0.65	0.71	-0.65	-0.29	0.71	-0.62	0.69		RKLB
	LHX	AJRD	MRCY	TXT	HEI-A	EVTL	RLLCF	ERJ	RKLB

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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

TXT	+ 0.89	LHX
HEI-A	+ 0.79	TXT
RLLCF	+ 0.78	LHX
HEI-A	+ 0.77	LHX
ERJ	+ 0.77	MRCY
RLLCF	+ 0.73	TXT

High negative correlations

EVTL	- 0.78	LHX
RKLB	- 0.74	LHX
RKLB	- 0.65	TXT
RKLB	- 0.65	AJRD
RLLCF	- 0.64	EVTL
RLLCF	- 0.64	MRCY

Risk-Adjusted Indicators

There is a big difference between AeroVironment Stock performing well and AeroVironment 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 AeroVironment'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
LHX	1.08	(0.20)	0.00	(0.36)	0.00	0.00	2.19	(2.30)	8.70
AJRD	0.33	(0.02)	0.00	(0.23)	0.00	0.00	0.77	(0.63)	2.16
MRCY	1.84	0.30	0.14	0.41	1.81	(2.21)	3.16	(3.43)	29.10
TXT	1.07	(0.18)	0.00	(0.29)	0.00	0.00	1.74	(2.30)	10.43
HEI-A	1.18	(0.15)	0.00	(0.39)	0.00	0.00	2.57	(2.92)	12.13
EVTL	8.92	1.29	0.14	1.81	8.01	(10.64)	29.78	(15.26)	66.11
RLLCF	3.23	(0.21)	0.00	(0.33)	0.00	0.00	5.88	(6.90)	20.94
ERJ	1.81	0.28	0.13	4.22	1.75	(2.07)	4.31	(3.27)	11.92
RKLB	4.53	1.53	0.29	3.34	4.20	(5.19)	11.05	(7.81)	41.53

AeroVironment Corporate Management

Brian CPA	Controller VP	Profile
Church Hutton	VP Relations	Profile
Shane Hastings	VP MUAS	Profile
Brett Hush	Senior Systems	Profile
Tim Faltemier	Head Business	Profile
Jonah TeeterBalin	Senior Relations	Profile
Jeff Rodrian	Senior Group	Profile

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