Honeywell International Correlations

HON Stock

USD 222.58 0.11 0.05%

The current 90-days correlation between Honeywell International and Brookfield Business Partners is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Honeywell International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Honeywell International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Honeywell International Correlation With Market

Average diversification

The correlation between Honeywell International and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Honeywell International 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 Honeywell International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Honeywell Stock, please use our How to Invest in Honeywell International guide.

Moving together with Honeywell Stock

0.78	GFF	Griffon	Pair Corr
0.8	FSTR	LB Foster	Pair Corr
0.63	TOYO	TOYO Co, Tech Boost	Pair Corr
0.78	G	Genpact Limited	Pair Corr

Moving against Honeywell Stock

0.74	SOL	Emeren Group	Pair Corr
0.73	RUN	Sunrun Inc	Pair Corr
0.4	EFSH	1847 Holdings LLC	Pair Corr
0.37	IGC	India Globalization	Pair Corr
0.78	RAIL	Freightcar America Trending	Pair Corr
0.65	BEEM	Beam Global Downward Rally	Pair Corr
0.62	CVGI	Commercial Vehicle	Pair Corr
0.42	SHLS	Shoals Technologies	Pair Corr
0.35	ARRY	Array Technologies Sell-off Trend	Pair Corr

Related Correlations Analysis

	MDU	CODI	VMI	VRTV	BBU	GFF	MATW	SPLP
MDU		0.84	0.61	0.21	0.58	0.94	0.8	0.47	MDU
CODI	0.84		0.54	0.05	0.61	0.78	0.61	0.42	CODI
VMI	0.61	0.54		-0.44	0.71	0.61	0.28	-0.03	VMI
VRTV	0.21	0.05	-0.44		-0.3	0.18	0.59	0.43	VRTV
BBU	0.58	0.61	0.71	-0.3		0.65	0.2	0.24	BBU
GFF	0.94	0.78	0.61	0.18	0.65		0.74	0.46	GFF
MATW	0.8	0.61	0.28	0.59	0.2	0.74		0.5	MATW
SPLP	0.47	0.42	-0.03	0.43	0.24	0.46	0.5		SPLP
	MDU	CODI	VMI	VRTV	BBU	GFF	MATW	SPLP

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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

GFF	+ 0.94	MDU
CODI	+ 0.84	MDU
MATW	+ 0.8	MDU
GFF	+ 0.78	CODI
MATW	+ 0.74	GFF
BBU	+ 0.71	VMI

High negative correlations

VRTV	- 0.44	VMI
BBU	- 0.3	VRTV
SPLP	- 0.03	VMI

Risk-Adjusted Indicators

There is a big difference between Honeywell Stock performing well and Honeywell International 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 Honeywell International'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
MDU	1.43	0.26	0.13	0.23	1.62	(1.59)	3.33	(2.38)	11.74
CODI	1.31	0.07	0.04	0.09	1.61	(1.38)	2.75	(2.54)	11.39
VMI	1.41	0.18	0.13	0.36	1.21	(1.84)	3.26	(2.02)	14.80
VRTV	1.91	0.13	0.05	4.12	2.42	(1.84)	3.88	(4.01)	10.84
BBU	1.60	(0.09)	0.00	(0.11)	0.00	0.00	3.19	(2.77)	12.93
GFF	1.73	0.20	0.10	0.24	1.82	(1.98)	2.88	(3.57)	22.89
MATW	2.13	0.61	0.32	0.44	1.58	(3.00)	5.82	(3.12)	26.99
SPLP	1.99	0.09	0.02	(0.23)	3.29	(2.95)	6.00	(3.70)	29.23

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