Qinetiq Group Correlations
| QNTQY Stock | USD 18.32 0.78 4.08% |
The current 90-days correlation between Qinetiq Group PLC and Curtiss Wright is 0.03 (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. If the correlation is 0, the equities are not correlated; they are entirely random.
Qinetiq Group Correlation With Market
Average diversification
The correlation between Qinetiq Group PLC and DJI is 0.1 (i.e., Average 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.
Qinetiq |
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 | RLLCF | Rolls Royce Holdings | PairCorr |
| 0.86 | LMT | Lockheed Martin | PairCorr |
| 0.72 | NOC | Northrop Grumman | PairCorr |
| 0.89 | GD | General Dynamics | PairCorr |
Moving against Qinetiq Pink Sheet
| 0.82 | PLTR | Palantir Technologies Earnings Call This Week | PairCorr |
| 0.79 | V | Visa Class A | PairCorr |
| 0.76 | GILT | Gilat Satellite Networks | PairCorr |
| 0.75 | VIST | Vista Oil Gas | PairCorr |
| 0.72 | PYPL | PayPal Holdings Earnings Call This Week | PairCorr |
| 0.68 | BA | Boeing | PairCorr |
| 0.66 | LPTH | LightPath Technologies Earnings Call This Week | PairCorr |
| 0.63 | MSB | Mesabi Trust | PairCorr |
| 0.59 | EADSF | Airbus Group SE | PairCorr |
| 0.59 | NRG | NRG Energy | PairCorr |
| 0.58 | EADSY | Airbus Group NV | PairCorr |
| 0.56 | MTZ | MasTec Inc | PairCorr |
| 0.39 | CHKP | Check Point Software Earnings Call This Week | PairCorr |
| 0.31 | GILD | Gilead Sciences Earnings Call This Week | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NOC | 0.99 | (0.16) | 0.00 | (0.24) | 0.00 | 2.00 | 7.87 | |||
| LHX | 1.15 | (0.26) | 0.00 | (0.35) | 0.00 | 2.19 | 8.70 | |||
| GD | 1.06 | (0.27) | 0.00 | (0.54) | 0.00 | 1.65 | 10.86 | |||
| CW | 1.48 | (0.01) | 0.00 | 0.15 | 0.00 | 2.96 | 16.04 | |||
| HXL | 1.30 | 0.02 | 0.00 | 0.12 | 1.62 | 2.81 | 8.49 | |||
| KTOS | 2.27 | 0.48 | 0.16 | 0.68 | 2.32 | 6.03 | 17.86 | |||
| AXON | 2.00 | 0.56 | 0.23 | 0.62 | 1.83 | 4.18 | 35.24 | |||
| EVEX | 3.77 | 0.75 | 0.14 | (1.21) | 3.94 | 7.87 | 31.98 | |||
| HEI | 1.20 | (0.11) | 0.00 | (0.29) | 0.00 | 2.51 | 12.63 |
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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 |