General Dynamics Correlations

GDBR34 Stock

BRL 1,508 8.11 0.54%

The current 90-days correlation between General Dynamics and STMicroelectronics NV is -0.02 (i.e., Good diversification). The correlation of General Dynamics 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.

General Dynamics Correlation With Market

Significant diversification

The correlation between General Dynamics and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding General Dynamics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to General Dynamics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace General Dynamics 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 General Dynamics - 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 General Dynamics to buy it.

Moving together with General Stock

0.86	LMTB34	Lockheed Martin	Pair Corr
0.87	TASA4	Taurus Armas SA	Pair Corr
0.83	TASA3	Taurus Armas SA	Pair Corr
0.78	RPAD3	Alfa Holdings SA	Pair Corr
0.76	RPAD6	Alfa Holdings SA	Pair Corr

Moving against General Stock

0.74	A1SN34	Ascendis Pharma AS	Pair Corr
0.74	M1CB34	Molson Coors Beverage	Pair Corr
0.74	L2PL34	LPL Financial Holdings	Pair Corr
0.72	AALL34	American Airlines	Pair Corr
0.7	SNEC34	Sony Group	Pair Corr
0.69	BOEI34	Boeing	Pair Corr
0.68	MRFG3	Marfrig Global Foods	Pair Corr
0.58	CSCO34	Cisco Systems	Pair Corr
0.57	D1FS34	Discover Financial	Pair Corr
0.5	D1DG34	Datadog,	Pair Corr
0.5	GRND3	Grendene SA	Pair Corr
0.49	BOTZ39	Global X Funds	Pair Corr
0.46	A1MP34	Ameriprise Financial	Pair Corr
0.44	P1NR34	Pentair plc	Pair Corr
0.4	RYTT34	Raytheon Technologies	Pair Corr
0.39	ORLY34	OReilly Automotive	Pair Corr
0.37	RPAD5	Alfa Holdings SA	Pair Corr

Related Correlations Analysis

	STMN34	P1DT34	CRDA34	K1BF34	CAON34	A2SO34	TSNF34	MRFG3
STMN34		0.06	0.0	-0.04	-0.4	-0.23	0.01	-0.23	STMN34
P1DT34	0.06		0.0	-0.18	0.63	-0.33	0.76	0.75	P1DT34
CRDA34	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CRDA34
K1BF34	-0.04	-0.18	0.0		-0.32	-0.51	0.09	-0.49	K1BF34
CAON34	-0.4	0.63	0.0	-0.32		0.16	0.34	0.83	CAON34
A2SO34	-0.23	-0.33	0.0	-0.51	0.16		-0.66	0.08	A2SO34
TSNF34	0.01	0.76	0.0	0.09	0.34	-0.66		0.52	TSNF34
MRFG3	-0.23	0.75	0.0	-0.49	0.83	0.08	0.52		MRFG3
	STMN34	P1DT34	CRDA34	K1BF34	CAON34	A2SO34	TSNF34	MRFG3

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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

MRFG3	+ 0.83	CAON34
TSNF34	+ 0.76	P1DT34
MRFG3	+ 0.75	P1DT34
CAON34	+ 0.63	P1DT34
MRFG3	+ 0.52	TSNF34
TSNF34	+ 0.34	CAON34

High negative correlations

TSNF34	- 0.66	A2SO34
A2SO34	- 0.51	K1BF34
MRFG3	- 0.49	K1BF34
CAON34	- 0.4	STMN34
A2SO34	- 0.33	P1DT34
CAON34	- 0.32	K1BF34

Risk-Adjusted Indicators

There is a big difference between General Stock performing well and General Dynamics 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 General Dynamics' 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
STMN34	0.99	(0.24)	0.00	1.71	0.00	0.00	1.59	(5.15)	19.65
P1DT34	0.81	0.18	0.05	99.71	0.82	(2.85)	3.74	(1.88)	12.95
CRDA34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
K1BF34	1.04	(0.02)	(0.02)	0.00	1.88	(2.03)	2.73	(2.48)	18.25
CAON34	1.25	0.50	0.22	3.27	0.24	(4.26)	4.81	(1.39)	18.60
A2SO34	0.97	0.10	0.01	0.49	1.87	(5.45)	7.07	(2.02)	13.76
TSNF34	0.85	(0.02)	0.00	(0.17)	0.00	0.00	2.38	(3.03)	13.10
MRFG3	2.01	0.38	0.11	1.20	2.71	(2.02)	4.55	(4.04)	16.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in General Dynamics 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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