Hexcel Correlations

Stocks . Germany . 
Stock . Hexcel
HXL Stock   74.50  1.00  1.32%   
The current 90-days correlation between Hexcel and National Retail Properties is 0.17 (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 0.81 (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

  0.76IUA ASTRA GRAPHIAPairCorr
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  0.83SKNB Skanska ABPairCorr
  0.75LOR LOral SAPairCorr
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  0.64CVC1 Carnival plcPairCorr
  0.9ASME ASML Holding NVPairCorr
  0.76HIUC China Taiping InsurancePairCorr
  0.84RATV Raisio plcPairCorr
  0.76FV6 EMMI N Earnings Call This WeekPairCorr
  0.9143C CACTUS INC CLA Earnings Call This WeekPairCorr
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  0.86TGE1 MOBILEZONE NPairCorr
  0.8HBC1 HSBC Holdings plc Earnings Call This WeekPairCorr
  0.93HKT HK Electric InvestmentsPairCorr
  0.88PAE PACCARPairCorr
  0.88BSI BE Semiconductor Ind Earnings Call TodayPairCorr

Moving against Hexcel Stock

  0.86BNB BAYAN RESOURCES Earnings Call This WeekPairCorr
  0.77BNB BAYAN RESOURCES Earnings Call This WeekPairCorr
  0.75DBPD Xtrackers ShortDAXPairCorr
  0.54777 EUROSPORTS GLOBAL LTDPairCorr
  0.328LU TAURUS ENERGY ABPairCorr

Related Correlations Analysis


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

CS2
+ 0.82
CZ2
KSX
+ 0.76
CS2
CS2
+ 0.74
R6N
CZ2
+ 0.72
R6N
KSX
+ 0.55
R6N
KSX
+ 0.43
CZ2
  

High negative correlations

KSX
- 0.64
CN6
T2K1
- 0.54
CZ2
T2K1
- 0.5
CS2
BUI
- 0.45
T2K1
CN6
- 0.39
CS2
CN6
- 0.32
R6N

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.

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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