Hexcel Correlations

HXL Stock

75.50 0.50 0.67%

The current 90-days correlation between Hexcel and Superior Plus Corp is 0.12 (i.e., Average diversification). The correlation of Hexcel 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hexcel Correlation With Market

Very poor diversification

The correlation between Hexcel and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hexcel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hexcel Stock

0.74	IUA	ASTRA GRAPHIA	Pair Corr
0.65	T9Q	TOTAL BANGUN PERSAD	Pair Corr
0.78	GPT	Genuine Parts Earnings Call This Week	Pair Corr
0.75	1SZ0	Santacruz Silver Mining Split	Pair Corr
0.85	SII	Wheaton Precious Metals	Pair Corr
0.87	485B	Amcor PLC Split	Pair Corr
0.75	ALV	Allianz SE	Pair Corr
0.85	SKNB	Skanska AB	Pair Corr
0.77	LOR	LOral SA	Pair Corr
0.84	10N	Enter Air SA	Pair Corr
0.61	CVC1	Carnival plc	Pair Corr
0.89	ASME	ASML Holding NV	Pair Corr
0.74	HIUC	China Taiping Insurance	Pair Corr
0.84	RATV	Raisio plc	Pair Corr
0.7	FV6	EMMI N	Pair Corr
0.89	43C	CACTUS INC CLA	Pair Corr
0.67	K34	Konecranes Plc	Pair Corr
0.85	1KT	Keysight Technologies	Pair Corr
0.84	TGE1	MOBILEZONE N	Pair Corr
0.79	HBC1	HSBC Holdings plc	Pair Corr
0.92	HKT	HK Electric Investments	Pair Corr
0.91	PAE	PACCAR	Pair Corr
0.85	BSI	BE Semiconductor Ind Earnings Call This Week	Pair Corr

Moving against Hexcel Stock

0.84	BNB	BAYAN RESOURCES	Pair Corr
0.8	BNB	BAYAN RESOURCES	Pair Corr
0.74	DBPD	Xtrackers ShortDAX	Pair Corr
0.57	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.38	8LU	TAURUS ENERGY AB	Pair Corr

Related Correlations Analysis

	94P	8SP	DVDG	INL	BTC1	RS6	RRU	9K1	3RKU	9TO
94P		0.03	0.14	0.15	-0.17	0.13	-0.05	0.23	0.04	0.09	94P
8SP	0.03		0.3	0.36	-0.03	0.32	0.33	0.33	0.52	0.36	8SP
DVDG	0.14	0.3		0.83	-0.75	0.95	0.77	0.76	0.1	0.94	DVDG
INL	0.15	0.36	0.83		-0.45	0.84	0.76	0.61	0.08	0.75	INL
BTC1	-0.17	-0.03	-0.75	-0.45		-0.72	-0.28	-0.69	-0.13	-0.69	BTC1
RS6	0.13	0.32	0.95	0.84	-0.72		0.79	0.71	0.13	0.92	RS6
RRU	-0.05	0.33	0.77	0.76	-0.28	0.79		0.44	-0.11	0.76	RRU
9K1	0.23	0.33	0.76	0.61	-0.69	0.71	0.44		0.33	0.76	9K1
3RKU	0.04	0.52	0.1	0.08	-0.13	0.13	-0.11	0.33		0.23	3RKU
9TO	0.09	0.36	0.94	0.75	-0.69	0.92	0.76	0.76	0.23		9TO
	94P	8SP	DVDG	INL	BTC1	RS6	RRU	9K1	3RKU	9TO

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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

RS6	+ 0.95	DVDG
9TO	+ 0.94	DVDG
9TO	+ 0.92	RS6
RS6	+ 0.84	INL
INL	+ 0.83	DVDG
RRU	+ 0.79	RS6

High negative correlations

BTC1	- 0.75	DVDG
RS6	- 0.72	BTC1
9TO	- 0.69	BTC1
9K1	- 0.69	BTC1
BTC1	- 0.45	INL
RRU	- 0.28	BTC1

Risk-Adjusted Indicators

There is a big difference between Hexcel Stock performing well and Hexcel 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 Hexcel'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
94P	1.79	0.06	0.01	0.32	2.08	(1.99)	3.44	(3.49)	11.80
8SP	1.54	(0.04)	(0.01)	0.02	3.73	(1.68)	4.67	(2.27)	21.96
DVDG	0.46	0.15	0.16	0.75	0.32	(0.53)	1.00	(0.65)	3.06
INL	3.13	0.35	0.08	0.33	4.12	(3.19)	8.76	(5.60)	24.14
BTC1	2.30	(0.62)	0.00	(0.79)	0.00	0.00	3.98	(5.63)	14.40
RS6	1.23	0.37	0.26	(1.90)	0.79	(1.53)	3.18	(1.57)	5.55
RRU	1.89	0.18	0.06	0.63	2.00	(1.98)	3.53	(3.25)	9.23
9K1	1.52	0.25	0.10	2.69	1.65	(2.01)	3.87	(2.79)	12.62
3RKU	2.38	0.07	0.02	0.14	2.63	(2.94)	4.91	(4.49)	12.82
9TO	2.06	0.54	0.20	(8.58)	1.91	(2.68)	5.26	(2.82)	13.02

Be your own money manager

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

Elected by the shareholders, the Hexcel's board of directors comprises two types of representatives: Hexcel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hexcel. The board's role is to monitor Hexcel's management team and ensure that shareholders' interests are well served. Hexcel'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, Hexcel's outside directors are responsible for providing unbiased perspectives on the board's policies.

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