Hexcel Correlations

HXL Stock

USD 78.41 1.76 2.30%

The current 90-days correlation between Hexcel and Ralliant Common is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hexcel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hexcel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hexcel Correlation With Market

Modest diversification

The correlation between Hexcel and DJI is 0.28 (i.e., Modest 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.

Build AI portfolio with Hexcel Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hexcel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

For more information on how to buy Hexcel Stock please use our How to buy in Hexcel Stock guide.

Moving together with Hexcel Stock

0.76	LNDNF	Lundin Energy AB	Pair Corr
0.78	FTV	Fortive Corp	Pair Corr
0.79	MRK	Merck Company	Pair Corr
0.61	KO	Coca Cola Sell-off Trend	Pair Corr
0.83	CSCO	Cisco Systems	Pair Corr
0.73	IBM	International Business	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.79	BAC	Bank of America Earnings Call This Week	Pair Corr
0.75	XOM	Exxon Mobil Corp	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr

Moving against Hexcel Stock

0.74	HD	Home Depot	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.61	T	ATT Inc	Pair Corr
0.47	BKLRF	Berkeley Energy	Pair Corr

Related Correlations Analysis

	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ
RAL		-0.72	-0.33	-0.36	0.52	-0.44	0.86	0.89	0.68	-0.59	RAL
SPR	-0.72		0.26	0.5	-0.3	0.31	-0.58	-0.68	-0.48	0.5	SPR
NPO	-0.33	0.26		0.64	0.02	0.52	-0.09	-0.2	-0.02	0.54	NPO
MRCY	-0.36	0.5	0.64		0.35	0.81	-0.16	-0.27	0.13	0.55	MRCY
PL	0.52	-0.3	0.02	0.35		0.39	0.62	0.66	0.9	-0.24	PL
FLY	-0.44	0.31	0.52	0.81	0.39		-0.21	-0.25	0.18	0.52	FLY
AMTM	0.86	-0.58	-0.09	-0.16	0.62	-0.21		0.89	0.8	-0.32	AMTM
OMAB	0.89	-0.68	-0.2	-0.27	0.66	-0.25	0.89		0.8	-0.51	OMAB
GVA	0.68	-0.48	-0.02	0.13	0.9	0.18	0.8	0.8		-0.31	GVA
BZ	-0.59	0.5	0.54	0.55	-0.24	0.52	-0.32	-0.51	-0.31		BZ
	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ

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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

GVA	+ 0.9	PL
OMAB	+ 0.89	RAL
OMAB	+ 0.89	AMTM
AMTM	+ 0.86	RAL
FLY	+ 0.81	MRCY
GVA	+ 0.8	AMTM

High negative correlations

SPR	- 0.72	RAL
OMAB	- 0.68	SPR
BZ	- 0.59	RAL
AMTM	- 0.58	SPR
BZ	- 0.51	OMAB
GVA	- 0.48	SPR

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
RAL	1.36	0.15	0.10	0.21	1.42	(1.53)	2.83	(2.49)	8.74
SPR	1.19	(0.07)	0.00	(0.38)	0.00	0.00	2.29	(3.30)	7.96
NPO	1.73	(0.17)	(0.03)	0.00	2.52	(1.65)	3.48	(4.32)	9.97
MRCY	2.02	(0.17)	(0.01)	0.02	2.64	(2.15)	4.23	(3.62)	10.25
PL	3.58	0.43	0.15	0.21	3.78	(4.29)	7.40	(6.87)	42.89
FLY	5.18	(0.08)	0.02	0.06	6.24	(5.73)	10.38	(12.87)	36.50
AMTM	2.32	0.22	0.15	0.19	1.81	(3.11)	4.58	(3.48)	21.59
OMAB	1.35	0.20	0.12	0.37	1.15	(1.55)	4.87	(1.79)	9.77
GVA	0.90	0.12	0.07	0.39	0.91	(1.09)	2.34	(1.74)	5.83
BZ	1.73	(0.30)	0.00	(0.22)	0.00	0.00	3.57	(3.98)	11.04

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