Boeing Correlations

BA Stock

MXN 3,555 17.58 0.50%

The current 90-days correlation between Boeing and Lockheed Martin is 0.2 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Boeing Correlation With Market

Good diversification

The correlation between The Boeing and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Boeing and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Boeing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boeing when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Boeing - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling The Boeing to buy it.

Moving together with Boeing Stock

0.65	AMP	Ameriprise Financial Earnings Call This Week	Pair Corr
0.9	MCK	McKesson	Pair Corr
0.75	TSLA	Tesla Inc Earnings Call This Week	Pair Corr
0.72	AMZN	Amazon Inc	Pair Corr

Moving against Boeing Stock

0.9	GD	General Dynamics Earnings Call This Week	Pair Corr
0.84	LMT	Lockheed Martin Earnings Call This Week	Pair Corr
0.73	VLO	Valero Energy Earnings Call This Week	Pair Corr
0.66	TXT	Textron Earnings Call This Week	Pair Corr
0.5	SMSNN	Samsung Electronics	Pair Corr
0.43	CAR	Avis Budget Group	Pair Corr

Related Correlations Analysis

	BA	LMT	GD	TXT	AMZN	HBCN	PRU	AMP	1810N	BMY
BA		-0.84	-0.9	-0.66	0.72	0.34	0.37	0.65	0.67	0.21	BA
LMT	-0.84		0.87	0.71	-0.82	-0.58	-0.34	-0.71	-0.78	-0.44	LMT
GD	-0.9	0.87		0.68	-0.83	-0.51	-0.38	-0.74	-0.75	-0.43	GD
TXT	-0.66	0.71	0.68		-0.39	-0.12	-0.25	-0.54	-0.5	-0.12	TXT
AMZN	0.72	-0.82	-0.83	-0.39		0.79	0.42	0.78	0.79	0.69	AMZN
HBCN	0.34	-0.58	-0.51	-0.12	0.79		0.27	0.55	0.64	0.88	HBCN
PRU	0.37	-0.34	-0.38	-0.25	0.42	0.27		0.35	0.38	0.25	PRU
AMP	0.65	-0.71	-0.74	-0.54	0.78	0.55	0.35		0.49	0.56	AMP
1810N	0.67	-0.78	-0.75	-0.5	0.79	0.64	0.38	0.49		0.61	1810N
BMY	0.21	-0.44	-0.43	-0.12	0.69	0.88	0.25	0.56	0.61		BMY
	BA	LMT	GD	TXT	AMZN	HBCN	PRU	AMP	1810N	BMY

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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

BMY	+ 0.88	HBCN
GD	+ 0.87	LMT
HBCN	+ 0.79	AMZN
1810N	+ 0.79	AMZN
AMP	+ 0.78	AMZN
AMZN	+ 0.72	BA

High negative correlations

GD	- 0.9	BA
LMT	- 0.84	BA
AMZN	- 0.83	GD
AMZN	- 0.82	LMT
1810N	- 0.78	LMT
1810N	- 0.75	GD

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	1.68	0.34	0.16	(0.85)	1.69	(2.02)	4.10	(3.63)	8.46
LMT	1.00	(0.22)	0.00	(1.50)	0.00	0.00	3.16	(3.25)	10.23
GD	0.41	(0.12)	0.00	0.91	0.00	0.00	0.00	(1.27)	8.51
TXT	0.39	(0.03)	0.00	(0.39)	0.00	0.00	0.00	0.00	12.98
AMZN	1.37	0.39	0.18	1.88	1.52	(1.38)	2.48	(3.28)	12.16
HBCN	0.66	0.33	0.00	1.14	0.00	0.00	0.00	0.00	21.43
PRU	0.45	0.22	0.00	0.93	0.00	0.00	0.00	0.00	1.32
AMP	0.76	0.26	0.00	1.32	0.00	0.00	0.00	(0.02)	29.66
1810N	2.93	0.67	0.20	5.30	2.68	(3.67)	7.69	(5.13)	16.60
BMY	1.18	0.22	0.11	(6.74)	1.13	(1.85)	2.43	(2.21)	15.32

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Our tools can tell you how much better you can do entering a position in Boeing without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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