Elbit Systems Correlations

ESLT Stock

USD 683.36 8.73 1.29%

The current 90-days correlation between Elbit Systems and Curtiss Wright is 0.26 (i.e., Modest diversification). The correlation of Elbit Systems 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.

Elbit Systems Correlation With Market

Modest diversification

The correlation between Elbit Systems and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elbit Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elbit Stock

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

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

Moving together with Elbit Stock

0.66	BA	Boeing	Pair Corr
0.69	002338	Changchun UP Optotech	Pair Corr
0.7	NMIH	NMI Holdings	Pair Corr
0.64	ACN	Accenture plc	Pair Corr
0.63	MCHP	Microchip Technology	Pair Corr
0.67	ATI	Allegheny Technologies	Pair Corr
0.73	KCRD	Kindcard	Pair Corr

Moving against Elbit Stock

0.56	PIFMY	Indofood Sukses Makmur	Pair Corr
0.38	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	CW	BWXT	WWD	AER	AVAV	HUBB	VLTO	TXT	DOV	NVT
CW		0.63	0.15	0.13	0.33	0.82	-0.12	0.0	0.15	0.6	CW
BWXT	0.63		-0.53	-0.6	0.87	0.27	0.23	-0.41	-0.57	0.12	BWXT
WWD	0.15	-0.53		0.88	-0.69	0.49	-0.09	0.76	0.91	0.25	WWD
AER	0.13	-0.6	0.88		-0.78	0.54	-0.44	0.68	0.93	0.38	AER
AVAV	0.33	0.87	-0.69	-0.78		-0.12	0.42	-0.45	-0.81	-0.16	AVAV
HUBB	0.82	0.27	0.49	0.54	-0.12		-0.33	0.29	0.56	0.67	HUBB
VLTO	-0.12	0.23	-0.09	-0.44	0.42	-0.33		0.15	-0.32	-0.56	VLTO
TXT	0.0	-0.41	0.76	0.68	-0.45	0.29	0.15		0.65	-0.19	TXT
DOV	0.15	-0.57	0.91	0.93	-0.81	0.56	-0.32	0.65		0.35	DOV
NVT	0.6	0.12	0.25	0.38	-0.16	0.67	-0.56	-0.19	0.35		NVT
	CW	BWXT	WWD	AER	AVAV	HUBB	VLTO	TXT	DOV	NVT

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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

DOV	+ 0.93	AER
DOV	+ 0.91	WWD
AER	+ 0.88	WWD
AVAV	+ 0.87	BWXT
HUBB	+ 0.82	CW
TXT	+ 0.76	WWD

High negative correlations

DOV	- 0.81	AVAV
AVAV	- 0.78	AER
AVAV	- 0.69	WWD
AER	- 0.6	BWXT
DOV	- 0.57	BWXT
NVT	- 0.56	VLTO

Risk-Adjusted Indicators

There is a big difference between Elbit Stock performing well and Elbit Systems 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 Elbit Systems' 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
CW	1.60	(0.04)	0.01	0.05	1.96	(1.65)	2.96	(3.01)	9.64
BWXT	1.89	(0.10)	(0.01)	0.02	2.88	(1.89)	3.84	(4.55)	14.18
WWD	1.63	0.21	0.17	0.19	1.30	(1.95)	3.61	(2.23)	16.03
AER	0.97	0.19	0.18	0.33	0.68	(1.17)	2.39	(1.41)	11.63
AVAV	2.93	(0.30)	0.00	(0.05)	0.00	0.00	5.91	(6.41)	18.62
HUBB	1.43	0.06	0.06	0.11	1.52	(1.61)	3.55	(2.83)	8.31
VLTO	0.85	(0.10)	0.00	(0.13)	0.00	0.00	1.43	(1.70)	8.53
TXT	1.09	(0.01)	0.00	0.07	1.34	(1.11)	2.24	(1.83)	6.24
DOV	1.08	0.22	0.19	0.28	0.82	(1.23)	2.96	(2.02)	10.45
NVT	1.90	(0.02)	0.01	0.06	2.57	(1.95)	3.66	(3.99)	16.83

Elbit Systems Corporate Management

David Temin	Chief Compliance Officer, Executive VP and Sr. Counsel	Profile
Daniella Finn	Vice Relations	Profile
Oren Sabag	Executive EW	Profile
Yehuda Vered	General Manager of Elbit Systems Land and C4I Division	Profile
Rami Myerson	Director Relations	Profile

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