Hexcel Correlations

HXL Stock

USD 89.94 2.75 3.15%

The current 90-days correlation between Hexcel and Ralliant Common is 0.12 (i.e., Average 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

Very poor diversification

The correlation between Hexcel and DJI is 0.83 (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.

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 housing.

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

Moving together with Hexcel Stock

0.83	BA	Boeing	Pair Corr
0.92	CW	Curtiss Wright	Pair Corr
0.64	GD	General Dynamics	Pair Corr
0.93	MO7R	MOOG INC CL	Pair Corr
0.75	O1U1	PENGUIN INTL LTD	Pair Corr
0.95	HXL	Hexcel	Pair Corr
0.73	SEJ1	Safran SA	Pair Corr
0.63	CE9	CAE Inc	Pair Corr
0.91	SNR	Senior PLC	Pair Corr
0.84	ST2	Sturm Ruger	Pair Corr
0.85	HI4	Huntington Ingalls	Pair Corr
0.75	BSP	BAE Systems plc	Pair Corr
0.83	ESLT	Elbit Systems	Pair Corr
0.73	EMY	Embraer SA	Pair Corr
0.79	RRU1	ROLLS ROYCE HADR Earnings Call This Week	Pair Corr
0.94	MO7A	Moog Inc	Pair Corr
0.91	CWT	Curtiss Wright	Pair Corr
0.83	TXT	Textron	Pair Corr
0.95	AIR	AAR Corp	Pair Corr
0.78	BSP	BAE Systems plc	Pair Corr
0.63	CAE	CAE Inc	Pair Corr
0.74	2VZ	LEONARDO DRS INC Earnings Call This Week	Pair Corr
0.7	CVU	CPI Aerostructures	Pair Corr
0.94	DCO	Ducommun Incorporated	Pair Corr
0.79	DRS	Leonardo DRS Common	Pair Corr
0.62	HEI	Heico	Pair Corr
0.78	BBD	BOMBARDIER INC CL	Pair Corr
0.87	HII	Huntington Ingalls	Pair Corr
0.84	HWM	Howmet Aerospace	Pair Corr

Moving against Hexcel Stock

0.6	EH	Ehang Holdings	Pair Corr
0.58	HCL	Highcom Earnings Call This Week	Pair Corr
0.31	PSN	Parsons Corp	Pair Corr

Related Correlations Analysis

	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ
RAL		-0.05	-0.43	0.34	0.26	0.53	0.28	-0.28	-0.18	0.28	RAL
SPR	-0.05		-0.62	-0.61	-0.64	-0.41	-0.8	-0.59	-0.59	0.56	SPR
NPO	-0.43	-0.62		0.51	0.57	0.16	0.58	0.9	0.86	-0.84	NPO
MRCY	0.34	-0.61	0.51		0.91	0.8	0.81	0.51	0.63	-0.64	MRCY
PL	0.26	-0.64	0.57	0.91		0.82	0.83	0.67	0.81	-0.71	PL
FLY	0.53	-0.41	0.16	0.8	0.82		0.67	0.23	0.44	-0.33	FLY
AMTM	0.28	-0.8	0.58	0.81	0.83	0.67		0.62	0.7	-0.6	AMTM
OMAB	-0.28	-0.59	0.9	0.51	0.67	0.23	0.62		0.92	-0.79	OMAB
GVA	-0.18	-0.59	0.86	0.63	0.81	0.44	0.7	0.92		-0.83	GVA
BZ	0.28	0.56	-0.84	-0.64	-0.71	-0.33	-0.6	-0.79	-0.83		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	+ 0.92	OMAB
PL	+ 0.91	MRCY
OMAB	+ 0.9	NPO
GVA	+ 0.86	NPO
AMTM	+ 0.83	PL
FLY	+ 0.82	PL

High negative correlations

BZ	- 0.84	NPO
BZ	- 0.83	GVA
AMTM	- 0.8	SPR
BZ	- 0.79	OMAB
BZ	- 0.71	PL
BZ	- 0.64	MRCY

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	1.90	(0.19)	0.00	(0.01)	0.00	0.00	3.59	(2.41)	35.57
SPR	1.19	(0.05)	0.00	0.33	0.00	0.00	2.29	(3.30)	7.96
NPO	1.68	0.29	0.18	0.22	1.70	(1.87)	3.65	(2.56)	9.47
MRCY	2.58	0.29	0.07	0.25	4.42	(2.82)	5.34	(4.49)	29.24
PL	4.23	1.16	0.30	0.68	3.65	(5.35)	8.96	(6.16)	44.11
FLY	6.12	(0.18)	0.00	0.02	7.54	(6.02)	12.30	(12.87)	36.50
AMTM	2.48	0.46	0.17	0.34	2.68	(2.95)	4.58	(3.61)	30.63
OMAB	1.46	0.43	0.33	0.46	0.93	(1.76)	4.68	(1.92)	9.66
GVA	1.06	0.36	0.31	0.46	0.78	(1.31)	2.88	(1.77)	6.50
BZ	1.58	(0.26)	0.00	(0.65)	0.00	0.00	3.03	(3.34)	11.69

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