Honeywell International Correlations

HONB34 Stock

BRL 1,320 16.61 1.26%

The correlation of Honeywell International 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.

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

Moving together with Honeywell Stock

0.72	RCSL4	Recrusul SA	Pair Corr
0.75	M1UF34	Mitsubishi UFJ Financial	Pair Corr
0.74	S1MF34	Sumitomo Mitsui Financial	Pair Corr
0.83	NMRH34	Nomura Holdings	Pair Corr

Moving against Honeywell Stock

0.76	INEP4	Inepar SA Indstria	Pair Corr
0.73	HOND34	Honda Motor	Pair Corr
0.52	RCSL3	Recrusul SA	Pair Corr
0.34	AERI3	Aeris Indstria e	Pair Corr

Related Correlations Analysis

	T2TD34	T1AL34	A1IV34	F1NI34	AALL34	GPIV33	LEVE3
T2TD34		0.68	-0.25	0.85	0.95	-0.52	-0.74	T2TD34
T1AL34	0.68		-0.59	0.57	0.62	-0.23	-0.46	T1AL34
A1IV34	-0.25	-0.59		-0.16	-0.15	0.25	0.05	A1IV34
F1NI34	0.85	0.57	-0.16		0.89	-0.59	-0.55	F1NI34
AALL34	0.95	0.62	-0.15	0.89		-0.51	-0.79	AALL34
GPIV33	-0.52	-0.23	0.25	-0.59	-0.51		0.2	GPIV33
LEVE3	-0.74	-0.46	0.05	-0.55	-0.79	0.2		LEVE3
	T2TD34	T1AL34	A1IV34	F1NI34	AALL34	GPIV33	LEVE3

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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

AALL34	+ 0.95	T2TD34
AALL34	+ 0.89	F1NI34
F1NI34	+ 0.85	T2TD34
T1AL34	+ 0.68	T2TD34
AALL34	+ 0.62	T1AL34
F1NI34	+ 0.57	T1AL34

High negative correlations

LEVE3	- 0.79	AALL34
LEVE3	- 0.74	T2TD34
GPIV33	- 0.59	F1NI34
A1IV34	- 0.59	T1AL34
LEVE3	- 0.55	F1NI34
GPIV33	- 0.52	T2TD34

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
T2TD34	1.55	0.32	0.13	0.52	1.72	(1.72)	3.51	(2.27)	13.18
T1AL34	2.83	0.38	0.08	1.96	3.09	(3.22)	5.23	(5.10)	32.28
A1IV34	1.01	0.06	(0.04)	(0.24)	1.23	(1.71)	2.37	(2.52)	9.68
F1NI34	0.82	0.20	0.06	(4.32)	0.65	(1.33)	2.32	(1.83)	7.29
AALL34	1.93	0.67	0.28	(2.44)	1.45	(2.36)	4.96	(2.88)	12.10
GPIV33	2.30	0.21	0.00	(0.14)	3.56	(2.66)	4.35	(4.58)	37.38
LEVE3	0.86	(0.22)	0.00	(0.52)	0.00	0.00	1.96	(1.78)	7.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in Honeywell International 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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Honeywell International Corporate Management

Elected by the shareholders, the Honeywell International's board of directors comprises two types of representatives: Honeywell International inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Honeywell. The board's role is to monitor Honeywell International's management team and ensure that shareholders' interests are well served. Honeywell International's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Honeywell International's outside directors are responsible for providing unbiased perspectives on the board's policies.

Victor Miller	Deputy VP	Profile
Michael Madsen	Pres Aerospace	Profile
Sean CFA	VP Relations	Profile
Harsh Bansal	VP Investments	Profile
Robert Mailloux	Controller VP	Profile

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