QinetiQ Group Correlations

QNTQF Stock

USD 5.35 0.65 10.83%

The current 90-days correlation between QinetiQ Group plc and Ducommun Incorporated is 0.08 (i.e., Significant diversification). The correlation of QinetiQ Group 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.

The ability to find closely correlated positions to QinetiQ Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace QinetiQ Group 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 QinetiQ Group - 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 QinetiQ Group plc to buy it.

Moving together with QinetiQ Pink Sheet

0.65	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.7	TDG	Transdigm Group	Pair Corr

Moving against QinetiQ Pink Sheet

0.64	AHT	Ashford Hospitality Trust	Pair Corr
0.49	BRK-A	Berkshire Hathaway	Pair Corr
0.43	HMTLF	Hitachi Metals	Pair Corr
0.33	MULN	Mullen Automotive	Pair Corr
0.72	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FTGFF	RNWR	PKE	ISSC	DCO	NPK	WWD	ATRO
FTGFF		0.0	0.86	0.93	0.11	0.32	0.35	-0.7	FTGFF
RNWR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RNWR
PKE	0.86	0.0		0.89	0.39	0.57	0.59	-0.66	PKE
ISSC	0.93	0.0	0.89		0.21	0.41	0.42	-0.62	ISSC
DCO	0.11	0.0	0.39	0.21		0.56	0.73	-0.13	DCO
NPK	0.32	0.0	0.57	0.41	0.56		0.62	-0.23	NPK
WWD	0.35	0.0	0.59	0.42	0.73	0.62		-0.51	WWD
ATRO	-0.7	0.0	-0.66	-0.62	-0.13	-0.23	-0.51		ATRO
	FTGFF	RNWR	PKE	ISSC	DCO	NPK	WWD	ATRO

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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

ISSC	+ 0.93	FTGFF
ISSC	+ 0.89	PKE
PKE	+ 0.86	FTGFF
WWD	+ 0.73	DCO
WWD	+ 0.62	NPK
WWD	+ 0.59	PKE

High negative correlations

ATRO	- 0.7	FTGFF
ATRO	- 0.66	PKE
ATRO	- 0.62	ISSC
ATRO	- 0.51	WWD
ATRO	- 0.23	NPK
ATRO	- 0.13	DCO

Risk-Adjusted Indicators

There is a big difference between QinetiQ Pink Sheet performing well and QinetiQ Group 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 QinetiQ Group'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
FTGFF	0.93	0.26	0.03	(1.66)	1.14	(3.03)	3.80	(2.20)	14.15
RNWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PKE	1.30	(0.02)	0.05	0.10	1.07	(1.71)	2.61	(2.02)	12.34
ISSC	1.33	0.10	0.03	0.28	1.52	(1.44)	3.28	(3.31)	9.31
DCO	1.31	(0.16)	(0.05)	0.02	1.55	(1.44)	2.90	(2.30)	8.32
NPK	1.16	(0.08)	(0.03)	0.05	1.39	(1.23)	2.43	(2.44)	8.03
WWD	1.23	(0.02)	0.00	0.10	1.59	(1.22)	2.58	(2.76)	6.12
ATRO	2.34	(0.62)	0.00	(0.16)	0.00	0.00	3.60	(7.33)	22.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in QinetiQ Group 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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QinetiQ Group Corporate Management

Ian Beresford	Group Technical	Profile
Mike Sewart	Chief Officer	Profile
James Field	Group Sec	Profile
Neville Salkeld	Chief Officer	Profile
Vicky Weise	Chief Officer	Profile
Amanda Nelson	Chief Officer	Profile
Andy Thorp	Group International	Profile

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