BWX Technologies Correlations

BWXT Stock

USD 133.28 3.52 2.71%

The current 90-days correlation between BWX Technologies and Hexcel is 0.33 (i.e., Weak diversification). The correlation of BWX Technologies 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.

BWX Technologies Correlation With Market

Weak diversification

The correlation between BWX Technologies and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BWX Technologies 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 BWX Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

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

Moving together with BWX Stock

0.93	CW	Curtiss Wright	Pair Corr
0.75	EH	Ehang Holdings	Pair Corr
0.8	ESLT	Elbit Systems	Pair Corr
0.64	EVEX	Eve Holding	Pair Corr
0.68	CAE	CAE Inc	Pair Corr
0.7	DRS	Leonardo DRS, Common	Pair Corr
0.85	HWM	Howmet Aerospace	Pair Corr
0.88	LHX	L3Harris Technologies Fiscal Year End 23rd of January 2025	Pair Corr
0.75	PKE	Park Electrochemical	Pair Corr
0.89	RDW	Redwire Corp	Pair Corr
0.69	TGI	Triumph Group	Pair Corr
0.84	VVX	V2X Inc	Pair Corr

Moving against BWX Stock

0.76	EVTL	Vertical Aerospace	Pair Corr
0.68	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.68	HII	Huntington Ingalls	Pair Corr
0.75	SPR	Spirit Aerosystems	Pair Corr
0.65	SIF	SIFCO Industries	Pair Corr
0.56	RGR	Sturm Ruger	Pair Corr
0.51	KWE	KWESST Micro Systems Fiscal Year End 15th of January 2025	Pair Corr
0.47	TXT	Textron Fiscal Year End 22nd of January 2025	Pair Corr
0.79	AAIIQ	Alabama Aircraft Ind	Pair Corr
0.77	HOVR	New Horizon Aircraft Symbol Change	Pair Corr
0.71	KITT	Nauticus Robotics	Pair Corr
0.71	KITTW	Nauticus Robotics	Pair Corr

Related Correlations Analysis

	HXL	DCO	MRCY	WWD	AIR	CW	KAMN	VVX	MOG-A
HXL		0.17	-0.01	-0.03	-0.01	-0.1	-0.25	0.1	-0.19	HXL
DCO	0.17		0.8	0.71	0.66	0.32	-0.05	0.16	0.7	DCO
MRCY	-0.01	0.8		0.69	0.64	0.3	0.13	0.12	0.75	MRCY
WWD	-0.03	0.71	0.69		0.46	0.61	0.32	0.38	0.87	WWD
AIR	-0.01	0.66	0.64	0.46		-0.15	-0.2	-0.38	0.43	AIR
CW	-0.1	0.32	0.3	0.61	-0.15		0.71	0.9	0.75	CW
KAMN	-0.25	-0.05	0.13	0.32	-0.2	0.71		0.59	0.52	KAMN
VVX	0.1	0.16	0.12	0.38	-0.38	0.9	0.59		0.54	VVX
MOG-A	-0.19	0.7	0.75	0.87	0.43	0.75	0.52	0.54		MOG-A
	HXL	DCO	MRCY	WWD	AIR	CW	KAMN	VVX	MOG-A

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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

VVX	+ 0.9	CW
MOG-A	+ 0.87	WWD
MRCY	+ 0.8	DCO
MOG-A	+ 0.75	MRCY
MOG-A	+ 0.75	CW
WWD	+ 0.71	DCO

High negative correlations

VVX	- 0.38	AIR
KAMN	- 0.25	HXL
KAMN	- 0.2	AIR
MOG-A	- 0.19	HXL
CW	- 0.15	AIR
CW	- 0.1	HXL

Risk-Adjusted Indicators

There is a big difference between BWX Stock performing well and BWX Technologies 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 BWX Technologies' 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
HXL	1.12	(0.23)	0.00	(0.07)	0.00	0.00	1.91	(2.66)	6.19
DCO	1.26	(0.15)	(0.06)	0.01	1.57	(1.36)	2.90	(2.30)	8.32
MRCY	1.75	(0.20)	0.00	0.03	1.80	(2.26)	2.83	(3.43)	29.10
WWD	1.11	0.03	0.02	0.12	1.37	(1.10)	2.52	(1.93)	6.52
AIR	1.45	(0.06)	0.01	0.07	1.94	(1.58)	2.64	(3.52)	14.62
CW	1.25	0.16	0.11	0.21	1.70	(1.43)	2.96	(2.48)	11.02
KAMN	1.85	0.06	0.01	0.21	2.21	(1.87)	5.37	(3.75)	14.48
VVX	1.91	0.02	0.05	0.11	2.90	(1.95)	3.92	(3.74)	20.17
MOG-A	1.38	0.02	0.09	0.11	1.43	(1.54)	2.72	(2.44)	14.78

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