Leidos Holdings Correlations

LDOS Stock

USD 165.51 0.82 0.50%

The current 90-days correlation between Leidos Holdings and CACI International is 0.77 (i.e., Poor diversification). The correlation of Leidos Holdings 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.

Leidos Holdings Correlation With Market

Modest diversification

The correlation between Leidos Holdings and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leidos Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Leidos Stock please use our How to Invest in Leidos Holdings guide.

Moving together with Leidos Stock

0.7	FI	Fiserv,	Pair Corr
0.69	IT	Gartner	Pair Corr
0.74	DMRC	Digimarc Tech Boost	Pair Corr
0.63	FIS	Fidelity National	Pair Corr
0.7	GDS	GDS Holdings	Pair Corr
0.84	PSN	Parsons Corp	Pair Corr
0.72	UIS	Unisys	Pair Corr
0.62	WIT	Wipro Limited ADR	Pair Corr
0.78	GDYN	Grid Dynamics Holdings	Pair Corr
0.76	GLOB	Globant SA	Pair Corr

Moving against Leidos Stock

0.67	GMM	Global Mofy Metaverse	Pair Corr
0.6	XRX	Xerox Corp	Pair Corr
0.58	INFY	Infosys Ltd ADR	Pair Corr
0.65	BNAIW	Brand Engagement Network Symbol Change	Pair Corr
0.64	NOTE	FiscalNote Holdings	Pair Corr
0.64	NTRP	NextTrip Symbol Change	Pair Corr
0.56	TRIRF	Triterras	Pair Corr

Related Correlations Analysis

	CACI	PSN	ASGN	EXLS	SAIC	CLVT	IT	CTSH	BR	CDW
CACI		0.91	0.6	0.44	0.91	-0.1	0.59	0.12	0.21	-0.08	CACI
PSN	0.91		0.53	0.54	0.9	-0.15	0.74	0.21	0.39	-0.13	PSN
ASGN	0.6	0.53		-0.02	0.66	0.15	0.28	0.28	-0.05	0.47	ASGN
EXLS	0.44	0.54	-0.02		0.23	-0.84	0.76	0.61	0.87	-0.82	EXLS
SAIC	0.91	0.9	0.66	0.23		0.09	0.56	0.08	0.1	0.16	SAIC
CLVT	-0.1	-0.15	0.15	-0.84	0.09		-0.57	-0.71	-0.78	0.79	CLVT
IT	0.59	0.74	0.28	0.76	0.56	-0.57		0.54	0.76	-0.39	IT
CTSH	0.12	0.21	0.28	0.61	0.08	-0.71	0.54		0.66	-0.37	CTSH
BR	0.21	0.39	-0.05	0.87	0.1	-0.78	0.76	0.66		-0.67	BR
CDW	-0.08	-0.13	0.47	-0.82	0.16	0.79	-0.39	-0.37	-0.67		CDW
	CACI	PSN	ASGN	EXLS	SAIC	CLVT	IT	CTSH	BR	CDW

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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

PSN	+ 0.91	CACI
SAIC	+ 0.91	CACI
SAIC	+ 0.9	PSN
BR	+ 0.87	EXLS
CDW	+ 0.79	CLVT
IT	+ 0.76	EXLS

High negative correlations

CLVT	- 0.84	EXLS
CDW	- 0.82	EXLS
BR	- 0.78	CLVT
CTSH	- 0.71	CLVT
CDW	- 0.67	BR
IT	- 0.57	CLVT

Risk-Adjusted Indicators

There is a big difference between Leidos Stock performing well and Leidos Holdings 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 Leidos Holdings' 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
CACI	1.25	(0.09)	(0.04)	0.01	2.58	(1.08)	2.84	(4.18)	14.84
PSN	1.12	(0.03)	(0.02)	0.09	2.11	(1.08)	2.89	(2.83)	15.20
ASGN	1.52	(0.29)	0.00	(0.02)	0.00	0.00	3.32	(3.35)	13.02
EXLS	1.04	0.26	0.31	0.35	0.38	(1.34)	2.56	(1.41)	8.35
SAIC	1.22	(0.11)	0.00	(0.01)	0.00	0.00	2.03	(2.60)	19.63
CLVT	2.17	(0.06)	0.00	0.17	0.00	0.00	4.12	(3.78)	31.28
IT	0.80	0.00	0.00	0.12	1.06	(0.75)	1.37	(2.06)	7.23
CTSH	0.95	(0.07)	(0.03)	0.06	1.44	(0.86)	1.93	(1.89)	9.84
BR	0.68	0.08	0.02	0.27	0.57	(0.79)	1.66	(1.26)	5.12
CDW	1.41	(0.51)	0.00	(0.22)	0.00	0.00	2.02	(3.50)	14.62

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