HEICO Correlations

HEI-A Stock

USD 215.57 0.15 0.07%

The current 90-days correlation between HEICO and Embraer SA ADR is 0.41 (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

Very weak diversification

The correlation between HEICO and DJI is 0.54 (i.e., Very weak 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

0.71	CAE	CAE Inc	Pair Corr
0.62	DCO	Ducommun Incorporated	Pair Corr
0.65	ERJ	Embraer SA ADR	Pair Corr
1.0	HEI	Heico Fiscal Year End 16th of December 2024	Pair Corr
0.65	HWM	Howmet Aerospace	Pair Corr
0.63	WWD	Woodward	Pair Corr

Moving against HEICO Stock

0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.41	EVTL	Vertical Aerospace	Pair Corr
0.35	HII	Huntington Ingalls	Pair Corr
0.57	SPR	Spirit Aerosystems	Pair Corr
0.42	RGR	Sturm Ruger	Pair Corr
0.33	KWE	KWESST Micro Systems Fiscal Year End 15th of January 2025	Pair Corr
0.32	HXL	Hexcel Fiscal Year End 22nd of January 2025	Pair Corr
0.64	LILMW	Lilium Equity Warrants	Pair Corr
0.6	KITTW	Nauticus Robotics	Pair Corr
0.59	KITT	Nauticus Robotics	Pair Corr
0.54	LLAP	Terran Orbital Corp	Pair Corr

Related Correlations Analysis

	EVTL	RLLCF	ERJ	RKLB	TDG	LHX	HII	AVAV	AIR	CW
EVTL		0.49	-0.42	-0.73	-0.39	-0.76	0.79	-0.64	0.22	-0.78	EVTL
RLLCF	0.49		-0.38	-0.6	-0.07	-0.55	0.62	-0.36	0.02	-0.58	RLLCF
ERJ	-0.42	-0.38		0.69	-0.09	0.35	-0.56	0.08	0.55	0.44	ERJ
RKLB	-0.73	-0.6	0.69		0.11	0.72	-0.83	0.45	0.09	0.8	RKLB
TDG	-0.39	-0.07	-0.09	0.11		0.59	0.0	0.71	-0.3	0.58	TDG
LHX	-0.76	-0.55	0.35	0.72	0.59		-0.68	0.88	-0.22	0.95	LHX
HII	0.79	0.62	-0.56	-0.83	0.0	-0.68		-0.43	0.05	-0.71	HII
AVAV	-0.64	-0.36	0.08	0.45	0.71	0.88	-0.43		-0.49	0.81	AVAV
AIR	0.22	0.02	0.55	0.09	-0.3	-0.22	0.05	-0.49		-0.15	AIR
CW	-0.78	-0.58	0.44	0.8	0.58	0.95	-0.71	0.81	-0.15		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

CW	+ 0.95	LHX
AVAV	+ 0.88	LHX
CW	+ 0.81	AVAV
CW	+ 0.8	RKLB
HII	+ 0.79	EVTL
LHX	+ 0.72	RKLB

High negative correlations

HII	- 0.83	RKLB
CW	- 0.78	EVTL
LHX	- 0.76	EVTL
RKLB	- 0.73	EVTL
CW	- 0.71	HII
HII	- 0.68	LHX

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	5.43	(0.73)	0.00	(0.65)	0.00	0.00	12.47	(11.43)	35.67
RLLCF	3.00	(0.08)	0.00	(0.27)	0.00	0.00	8.11	(5.56)	16.93
ERJ	1.97	0.16	0.09	0.24	1.87	(2.44)	4.31	(3.27)	11.70
RKLB	4.25	1.66	0.50	0.70	2.57	(5.15)	12.54	(4.74)	36.25
TDG	1.30	(0.11)	(0.04)	0.00	2.20	(1.11)	2.35	(2.96)	10.06
LHX	0.92	0.06	0.01	0.19	1.16	(0.99)	2.19	(1.69)	8.70
HII	1.56	(0.62)	0.00	(0.23)	0.00	0.00	2.45	(2.65)	28.75
AVAV	2.28	0.00	0.00	0.10	3.10	(2.38)	5.03	(5.64)	19.18
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

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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