Boeing Correlations

BA-PA Stock

61.45 1.38 2.30%

The current 90-days correlation between Boeing and The Boeing is 0.79 (i.e., Poor diversification). The correlation of Boeing 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.

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

Moving together with Boeing Stock

0.91	BA	Boeing	Pair Corr
0.66	DPRO	Draganfly	Pair Corr
0.75	SATLW	Satellogic Warrant	Pair Corr
0.8	EVEX	Eve Holding	Pair Corr
0.62	CAE	CAE Inc	Pair Corr
0.84	NPK	National Presto Indu	Pair Corr
0.74	SPR	Spirit Aerosystems Earnings Call This Week	Pair Corr

Moving against Boeing Stock

0.73	VSEC	VSE Corporation	Pair Corr
0.65	GD	General Dynamics	Pair Corr
0.47	VTSI	VirTra Inc	Pair Corr
0.33	CW	Curtiss Wright	Pair Corr
0.33	POWWP	Ammo Preferred Earnings Call This Week	Pair Corr
0.83	LHX	L3Harris Technologies	Pair Corr
0.74	HEI	Heico	Pair Corr
0.72	LMT	Lockheed Martin	Pair Corr
0.58	NOC	Northrop Grumman	Pair Corr
0.5	OPXS	Optex Systems Holdings,	Pair Corr
0.78	RGR	Sturm Ruger	Pair Corr
0.78	TXT	Textron	Pair Corr
0.76	VVX	V2X Inc	Pair Corr
0.54	GPUS	Hyperscale Data, Symbol Change	Pair Corr

Related Correlations Analysis

	BA	CW	EH	GD	GE	PL	DPRO	BA-PA	ESLT	EVEX
BA		-0.23	-0.34	-0.79	-0.04	0.72	0.73	0.91	0.46	0.73	BA
CW	-0.23		-0.11	0.23	0.16	0.07	-0.04	-0.33	-0.33	-0.33	CW
EH	-0.34	-0.11		0.59	0.26	-0.42	-0.49	-0.27	0.04	-0.18	EH
GD	-0.79	0.23	0.59		0.14	-0.8	-0.75	-0.65	-0.27	-0.58	GD
GE	-0.04	0.16	0.26	0.14		0.33	-0.4	-0.06	0.37	-0.13	GE
PL	0.72	0.07	-0.42	-0.8	0.33		0.64	0.57	0.3	0.49	PL
DPRO	0.73	-0.04	-0.49	-0.75	-0.4	0.64		0.66	0.05	0.65	DPRO
BA-PA	0.91	-0.33	-0.27	-0.65	-0.06	0.57	0.66		0.54	0.8	BA-PA
ESLT	0.46	-0.33	0.04	-0.27	0.37	0.3	0.05	0.54		0.6	ESLT
EVEX	0.73	-0.33	-0.18	-0.58	-0.13	0.49	0.65	0.8	0.6		EVEX
	BA	CW	EH	GD	GE	PL	DPRO	BA-PA	ESLT	EVEX

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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

BA-PA	+ 0.91	BA
EVEX	+ 0.8	BA-PA
DPRO	+ 0.73	BA
EVEX	+ 0.73	BA
PL	+ 0.72	BA
BA-PA	+ 0.66	DPRO

High negative correlations

PL	- 0.8	GD
GD	- 0.79	BA
DPRO	- 0.75	GD
BA-PA	- 0.65	GD
EVEX	- 0.58	GD
DPRO	- 0.49	EH

Risk-Adjusted Indicators

There is a big difference between Boeing Stock performing well and Boeing 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 Boeing'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
BA	1.51	0.23	0.07	(20.37)	1.68	(1.54)	3.38	(2.79)	7.39
CW	1.48	(0.01)	0.00	0.15	0.00	0.00	2.96	(5.33)	16.04
EH	3.30	0.07	0.00	0.82	4.24	(3.39)	7.79	(6.26)	23.52
GD	1.06	(0.27)	0.00	(0.54)	0.00	0.00	1.65	(2.69)	10.86
GE	1.35	0.14	0.07	0.27	1.53	(1.48)	3.14	(2.42)	8.66
PL	4.26	1.43	0.38	1.22	3.20	(5.35)	14.07	(5.60)	27.58
DPRO	7.07	0.81	0.09	(2.09)	6.96	(9.41)	18.71	(11.65)	64.26
BA-PA	1.21	0.22	0.09	(29.97)	1.13	(1.33)	2.30	(2.10)	6.87
ESLT	1.34	0.45	0.30	1.43	0.88	(1.66)	3.32	(1.73)	9.50
EVEX	3.80	1.14	0.24	11.87	3.94	(4.48)	7.87	(5.06)	31.98

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Boeing Correlations

Moving together with Boeing Stock

Moving against Boeing Stock

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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