HEICO Correlations

HEI-A Stock

USD 190.33 1.11 0.59%

The current 90-days correlation between HEICO and Embraer SA ADR is 0.54 (i.e., Very weak diversification). The correlation of HEICO 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.

HEICO Correlation With Market

Average diversification

The correlation between HEICO and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HEICO and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HEICO. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade HEICO Stock refer to our How to Trade HEICO Stock guide.

Moving together with HEICO Stock

0.96	HEI	Heico	Pair Corr
0.77	LHX	L3Harris Technologies Sell-off Trend	Pair Corr
0.7	LMT	Lockheed Martin	Pair Corr
0.68	RGR	Sturm Ruger	Pair Corr
0.79	TXT	Textron	Pair Corr
0.75	VVX	V2X Inc	Pair Corr

Moving against HEICO Stock

0.76	BA-PA	Boeing	Pair Corr
0.73	BA	Boeing	Pair Corr
0.7	EVEX	Eve Holding	Pair Corr
0.64	CVU	CPI Aerostructures	Pair Corr
0.63	ESLT	Elbit Systems	Pair Corr
0.46	EVTL	Vertical Aerospace	Pair Corr
0.38	DPRO	Draganfly	Pair Corr
0.34	PL	Planet Labs PBC Buyout Trend	Pair Corr
0.34	SATLW	Satellogic Warrant	Pair Corr
0.33	CAE	CAE Inc	Pair Corr
0.76	NPK	National Presto Indu	Pair Corr
0.73	SPR	Spirit Aerosystems Earnings Call Shortly	Pair Corr
0.54	HXL	Hexcel	Pair Corr
0.5	KWESW	KWESST Micro Systems	Pair Corr
0.49	RDW	Redwire Corp Buyout Trend	Pair Corr

Related Correlations Analysis

	EVTL	RLLCF	ERJ	RKLB	TDG	LHX	HII	AVAV	AIR	CW
EVTL		-0.4	-0.15	0.49	-0.34	-0.61	-0.31	-0.65	-0.25	-0.15	EVTL
RLLCF	-0.4		-0.35	-0.59	-0.26	0.74	-0.06	0.49	-0.05	0.43	RLLCF
ERJ	-0.15	-0.35		0.42	0.27	-0.1	0.57	0.0	0.59	-0.1	ERJ
RKLB	0.49	-0.59	0.42		-0.1	-0.76	-0.02	-0.67	0.22	-0.27	RKLB
TDG	-0.34	-0.26	0.27	-0.1		0.14	0.56	0.35	0.27	0.23	TDG
LHX	-0.61	0.74	-0.1	-0.76	0.14		0.31	0.88	0.25	0.61	LHX
HII	-0.31	-0.06	0.57	-0.02	0.56	0.31		0.44	0.53	0.39	HII
AVAV	-0.65	0.49	0.0	-0.67	0.35	0.88	0.44		0.29	0.46	AVAV
AIR	-0.25	-0.05	0.59	0.22	0.27	0.25	0.53	0.29		0.36	AIR
CW	-0.15	0.43	-0.1	-0.27	0.23	0.61	0.39	0.46	0.36		CW
	EVTL	RLLCF	ERJ	RKLB	TDG	LHX	HII	AVAV	AIR	CW

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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

AVAV	+ 0.88	LHX
LHX	+ 0.74	RLLCF
CW	+ 0.61	LHX
AIR	+ 0.59	ERJ
HII	+ 0.57	ERJ
HII	+ 0.56	TDG

High negative correlations

LHX	- 0.76	RKLB
AVAV	- 0.67	RKLB
AVAV	- 0.65	EVTL
LHX	- 0.61	EVTL
RKLB	- 0.59	RLLCF
RLLCF	- 0.4	EVTL

Risk-Adjusted Indicators

There is a big difference between HEICO Stock performing well and HEICO 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 HEICO'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
EVTL	9.71	1.16	0.09	(6.39)	11.21	(11.14)	29.78	(15.75)	87.86
RLLCF	3.34	(0.28)	0.00	(0.21)	0.00	0.00	8.57	(7.89)	20.94
ERJ	1.75	0.33	0.12	4.45	1.79	(1.89)	4.31	(3.27)	11.92
RKLB	5.11	1.59	0.33	0.57	4.30	(6.20)	11.05	(7.81)	41.53
TDG	1.33	0.00	(0.01)	0.07	1.85	(1.41)	2.41	(2.77)	10.06
LHX	1.12	(0.27)	0.00	(0.51)	0.00	0.00	2.15	(2.60)	7.43
HII	1.32	0.05	0.00	0.23	1.67	(1.40)	2.82	(2.65)	9.41
AVAV	2.39	(0.28)	0.00	(0.57)	0.00	0.00	4.47	(4.97)	20.35
AIR	1.61	0.16	0.08	0.19	1.80	(1.67)	2.85	(2.60)	15.31
CW	1.49	(0.09)	(0.02)	0.01	3.11	(1.32)	2.96	(5.33)	16.04

HEICO Corporate Management

Steven CPA	Chief Treasurer	Profile
Carlos Macau	CFO VP	Profile
Laurans Mendelson	Chairman CEO	Profile
Elizabeth Letendre	Corporate Secretary	Profile

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