Hexcel Correlations

HXL Stock

USD 80.23 1.34 1.64%

The current 90-days correlation between Hexcel and Ralliant Common is 0.34 (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

Poor diversification

The correlation between Hexcel and DJI is 0.78 (i.e., 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 median.

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	BA	Boeing	Pair Corr
0.66	GD	General Dynamics	Pair Corr
0.72	688511	Sichuan Tianwei Elec	Pair Corr
0.79	CAE	CAE Inc	Pair Corr
0.72	300324	Beijing Watertek Inf	Pair Corr
0.7	HEI	Heico	Pair Corr
0.64	HWM	Howmet Aerospace	Pair Corr
0.75	LHX	L3Harris Technologies Sell-off Trend	Pair Corr
0.77	LMT	Lockheed Martin Earnings Call Tomorrow	Pair Corr
0.71	NOC	Northrop Grumman	Pair Corr
0.78	TDG	Transdigm Group	Pair Corr
0.73	VVX	V2X Inc	Pair Corr
0.88	BBD-B	Bombardier	Pair Corr
0.79	600685	CSSC Offshore Marine	Pair Corr
0.66	002338	Changchun UP Optotech	Pair Corr
0.77	PTAIY	Astra International Tbk	Pair Corr
0.67	TLK	Telkom Indonesia Tbk	Pair Corr
0.75	EC	Ecopetrol SA ADR	Pair Corr
0.74	PPERF	Bank Mandiri Persero Earnings Call Next Week	Pair Corr
0.73	NONOF	Novo Nordisk AS Earnings Call This Week	Pair Corr
0.84	RTO	Rentokil Initial PLC	Pair Corr
0.82	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.76	BTU	Peabody Energy Corp Earnings Call Next Week	Pair Corr
0.74	ACLS	Axcelis Technologies	Pair Corr
0.86	MGPUF	MG Plc	Pair Corr
0.83	ZIJMY	Zijin Mining Group	Pair Corr
0.78	SEBC	Southeastern Banking Corp	Pair Corr
0.72	EGP	EastGroup Properties	Pair Corr

Moving against Hexcel Stock

0.66

PTAIF

PT Astra International

Pair Corr

Related Correlations Analysis

	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ
RAL		-0.64	0.29	0.46	0.77	0.37	0.92	0.91	0.87	-0.71	RAL
SPR	-0.64		-0.15	-0.34	-0.64	-0.42	-0.58	-0.56	-0.7	0.49	SPR
NPO	0.29	-0.15		0.76	0.6	0.72	0.51	0.36	0.46	-0.29	NPO
MRCY	0.46	-0.34	0.76		0.84	0.82	0.62	0.47	0.62	-0.7	MRCY
PL	0.77	-0.64	0.6	0.84		0.8	0.85	0.78	0.92	-0.8	PL
FLY	0.37	-0.42	0.72	0.82	0.8		0.51	0.42	0.65	-0.5	FLY
AMTM	0.92	-0.58	0.51	0.62	0.85	0.51		0.9	0.91	-0.72	AMTM
OMAB	0.91	-0.56	0.36	0.47	0.78	0.42	0.9		0.88	-0.64	OMAB
GVA	0.87	-0.7	0.46	0.62	0.92	0.65	0.91	0.88		-0.73	GVA
BZ	-0.71	0.49	-0.29	-0.7	-0.8	-0.5	-0.72	-0.64	-0.73		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

AMTM	+ 0.92	RAL
GVA	+ 0.92	PL
OMAB	+ 0.91	RAL
GVA	+ 0.91	AMTM
OMAB	+ 0.9	AMTM
GVA	+ 0.88	OMAB

High negative correlations

BZ	- 0.8	PL
BZ	- 0.73	GVA
BZ	- 0.72	AMTM
BZ	- 0.71	RAL
BZ	- 0.7	MRCY
GVA	- 0.7	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	1.35	0.27	0.20	0.29	1.14	(1.58)	3.14	(2.41)	8.74
SPR	1.19	(0.05)	0.00	0.35	0.00	0.00	2.29	(3.30)	7.96
NPO	1.80	(0.07)	0.00	0.04	2.50	(1.73)	3.52	(3.85)	9.97
MRCY	2.06	0.35	0.13	1.23	2.10	(2.49)	4.65	(3.62)	12.66
PL	3.71	1.22	0.37	0.60	3.02	(4.79)	8.50	(5.96)	42.89
FLY	5.77	0.27	0.05	0.18	6.84	(6.40)	16.02	(13.49)	36.50
AMTM	2.23	0.62	0.39	0.40	1.30	(2.98)	4.58	(2.63)	21.59
OMAB	1.41	0.32	0.23	0.39	1.01	(1.67)	4.87	(1.92)	10.36
GVA	0.90	0.15	0.15	0.24	0.79	(1.15)	2.34	(1.13)	5.83
BZ	1.43	(0.19)	0.00	(1.34)	0.00	0.00	2.74	(2.95)	11.69

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