Boeing Correlations

BA Stock

USD 242.96 3.61 1.51%

The current 90-days correlation between Boeing and Airbus Group NV is 0.27 (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.

Boeing Correlation With Market

Very poor diversification

The correlation between The Boeing and DJI is 0.89 (i.e., Very poor 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.

Build AI portfolio with Boeing Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The Boeing. 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.

Moving together with Boeing Stock

0.87	CW	Curtiss Wright	Pair Corr
0.8	GD	General Dynamics	Pair Corr
0.88	MO7R	MOOG INC CL	Pair Corr
0.72	O1U1	PENGUIN INTL LTD Earnings Call This Week	Pair Corr
0.83	HXL	Hexcel	Pair Corr
0.86	VOYG	Voyager Technologies	Pair Corr
0.65	SEJ1	Safran SA	Pair Corr
0.92	CE9	CAE Inc	Pair Corr
0.92	SNR	Senior PLC	Pair Corr
0.89	ST2	Sturm Ruger Earnings Call This Week	Pair Corr
0.93	HI4	Huntington Ingalls	Pair Corr
0.82	BSP	BAE Systems plc Earnings Call This Week	Pair Corr
0.96	ESLT	Elbit Systems	Pair Corr
0.84	EMY	Embraer SA	Pair Corr
0.92	CAE	CAE Inc	Pair Corr
0.92	RRU1	ROLLS ROYCE HADR	Pair Corr
0.9	MO7A	Moog Inc	Pair Corr
0.82	CWT	Curtiss Wright	Pair Corr
0.9	TXT	Textron	Pair Corr
0.88	AIR	AAR Corp	Pair Corr
0.83	BSP	BAE Systems plc Earnings Call This Week	Pair Corr
0.94	CAE	CAE Inc	Pair Corr
0.8	2VZ	LEONARDO DRS INC	Pair Corr
0.88	CVU	CPI Aerostructures	Pair Corr
0.89	DCO	Ducommun Incorporated Earnings Call This Week	Pair Corr
0.87	DRS	Leonardo DRS Common Earnings Call This Week	Pair Corr
0.79	FLY	Firefly Aerospace Common	Pair Corr
0.76	HEI	Heico	Pair Corr
0.87	BBD	BOMBARDIER INC CL	Pair Corr
0.94	HII	Huntington Ingalls	Pair Corr
0.74	HWM	Howmet Aerospace	Pair Corr

Moving against Boeing Stock

0.45	EH	Ehang Holdings	Pair Corr
0.5	PSN	Parsons Corp	Pair Corr

Related Correlations Analysis

	ATRO	EADSY	HEI-A	PEW	PRZO	RGR	THLLY
ATRO		0.1	0.49	-0.57	-0.27	0.94	0.83	ATRO
EADSY	0.1		0.73	0.42	0.41	0.23	0.48	EADSY
HEI-A	0.49	0.73		-0.12	-0.05	0.61	0.69	HEI-A
PEW	-0.57	0.42	-0.12		0.62	-0.47	-0.25	PEW
PRZO	-0.27	0.41	-0.05	0.62		-0.25	-0.11	PRZO
RGR	0.94	0.23	0.61	-0.47	-0.25		0.88	RGR
THLLY	0.83	0.48	0.69	-0.25	-0.11	0.88		THLLY
	ATRO	EADSY	HEI-A	PEW	PRZO	RGR	THLLY

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

RGR	+ 0.94	ATRO
THLLY	+ 0.88	RGR
THLLY	+ 0.83	ATRO
HEI-A	+ 0.73	EADSY
THLLY	+ 0.69	HEI-A
PRZO	+ 0.62	PEW

High negative correlations

PEW	- 0.57	ATRO
RGR	- 0.47	PEW
PRZO	- 0.27	ATRO
RGR	- 0.25	PRZO
THLLY	- 0.25	PEW
PEW	- 0.12	HEI-A

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
ATRO	2.39	0.68	0.26	0.57	2.13	(2.76)	6.28	(3.89)	18.76
EADSY	1.21	(0.15)	0.00	(0.18)	0.00	0.00	2.18	(2.08)	8.98
HEI-A	1.13	(0.08)	0.00	(0.04)	0.00	0.00	2.15	(2.39)	9.20
PEW	2.25	(0.65)	0.00	(0.66)	0.00	0.00	4.61	(5.35)	29.97
PRZO	5.92	(0.23)	0.00	(0.05)	0.00	0.00	11.76	(10.00)	57.11
RGR	1.38	0.15	0.08	0.26	1.60	(1.43)	3.00	(3.01)	7.14
THLLY	1.47	0.10	0.01	(0.30)	1.72	(1.56)	3.48	(3.17)	11.52

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