Qinetiq Group Correlations

QNTQY Stock

USD 21.47 0.43 2.04%

The current 90-days correlation between Qinetiq Group PLC and BWX Technologies is 0.33 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Qinetiq Group Correlation With Market

Modest diversification

The correlation between Qinetiq Group PLC and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qinetiq Group PLC and DJI in the same portfolio, assuming nothing else is changed.

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

0.68	LMT	Lockheed Martin Fiscal Year End 28th of January 2025	Pair Corr
0.73	GD	General Dynamics Fiscal Year End 22nd of January 2025	Pair Corr
0.8	NOC	Northrop Grumman Fiscal Year End 23rd of January 2025	Pair Corr
0.62	SHG	Shinhan Financial	Pair Corr
0.73	BCH	Banco De Chile	Pair Corr
0.7	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.7	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against Qinetiq Pink Sheet

0.79	FNMFO	Federal National Mortgage Trending	Pair Corr
0.62	AVAL	Grupo Aval	Pair Corr
0.46	ITCL	Banco Ita Chile	Pair Corr
0.4	CIB	Bancolombia SA ADR	Pair Corr
0.35	KB	KB Financial Group	Pair Corr
0.35	JXN-PA	Jackson Financial	Pair Corr
0.89	DIS	Walt Disney	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.76	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.73	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.69	AXP	American Express Sell-off Trend	Pair Corr
0.63	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.58	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.49	MET	MetLife	Pair Corr
0.49	HD	Home Depot	Pair Corr
0.46	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.35	HPQ	HP Inc	Pair Corr
0.34	PG	Procter Gamble	Pair Corr
0.34	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	RYCEF	VTSI	BWXT	ERJ	HEI-A	EVTL	RKLB	RYCEY	SAFRY	ATRO
RYCEF		0.07	0.65	0.01	0.03	-0.49	0.23	0.99	0.67	-0.18	RYCEF
VTSI	0.07		0.64	0.79	0.73	-0.04	0.9	0.11	0.28	-0.67	VTSI
BWXT	0.65	0.64		0.44	0.46	-0.48	0.81	0.69	0.44	-0.67	BWXT
ERJ	0.01	0.79	0.44		0.71	-0.09	0.76	0.05	0.4	-0.71	ERJ
HEI-A	0.03	0.73	0.46	0.71		-0.05	0.68	0.03	0.4	-0.39	HEI-A
EVTL	-0.49	-0.04	-0.48	-0.09	-0.05		-0.18	-0.56	-0.42	0.27	EVTL
RKLB	0.23	0.9	0.81	0.76	0.68	-0.18		0.27	0.35	-0.8	RKLB
RYCEY	0.99	0.11	0.69	0.05	0.03	-0.56	0.27		0.66	-0.25	RYCEY
SAFRY	0.67	0.28	0.44	0.4	0.4	-0.42	0.35	0.66		-0.25	SAFRY
ATRO	-0.18	-0.67	-0.67	-0.71	-0.39	0.27	-0.8	-0.25	-0.25		ATRO
	RYCEF	VTSI	BWXT	ERJ	HEI-A	EVTL	RKLB	RYCEY	SAFRY	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

RYCEY	+ 0.99	RYCEF
RKLB	+ 0.9	VTSI
RKLB	+ 0.81	BWXT
ERJ	+ 0.79	VTSI
RKLB	+ 0.76	ERJ
HEI-A	+ 0.73	VTSI

High negative correlations

ATRO	- 0.8	RKLB
ATRO	- 0.71	ERJ
ATRO	- 0.67	BWXT
ATRO	- 0.67	VTSI
RYCEY	- 0.56	EVTL
EVTL	- 0.49	RYCEF

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
RYCEF	1.42	0.10	0.01	0.55	1.97	(1.57)	2.74	(3.88)	10.11
VTSI	2.59	0.05	0.05	0.14	3.18	(2.88)	4.99	(4.73)	32.77
BWXT	1.38	0.27	0.15	0.44	1.35	(1.59)	3.48	(2.47)	7.85
ERJ	2.01	0.10	0.06	0.20	1.97	(2.53)	4.31	(3.28)	11.70
HEI-A	1.08	(0.04)	(0.03)	0.08	1.34	(1.11)	2.40	(2.10)	5.63
EVTL	6.86	0.04	0.02	0.13	7.64	(8.09)	16.23	(12.12)	35.76
RKLB	4.34	1.90	0.52	0.77	2.78	(5.17)	12.54	(4.74)	36.25
RYCEY	1.37	0.10	0.01	0.50	1.72	(1.47)	2.52	(3.20)	10.31
SAFRY	1.01	0.01	(0.01)	0.13	1.20	(1.02)	2.52	(2.47)	7.82
ATRO	2.31	(0.65)	0.00	(0.18)	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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