Redwire Corp Correlations

RDW Stock

USD 8.02 0.13 1.65%

The current 90-days correlation between Redwire Corp and Ballard Power Systems is 0.63 (i.e., Poor diversification). The correlation of Redwire Corp 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.

Redwire Corp Correlation With Market

Poor diversification

The correlation between Redwire Corp 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 Redwire Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Redwire Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Redwire Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Redwire Stock

0.89	BA	Boeing	Pair Corr
0.83	CW	Curtiss Wright	Pair Corr
0.81	GD	General Dynamics	Pair Corr
0.75	MO7R	MOOG INC CL	Pair Corr
0.66	O1U1	PENGUIN INTL LTD Earnings Call This Week	Pair Corr
0.72	HXL	Hexcel	Pair Corr
0.93	VOYG	Voyager Technologies	Pair Corr
0.88	CE9	CAE Inc	Pair Corr
0.87	SNR	Senior PLC	Pair Corr
0.64	ST2	Sturm Ruger Earnings Call This Week	Pair Corr
0.88	HI4	Huntington Ingalls	Pair Corr
0.84	BSP	BAE Systems plc Earnings Call This Week	Pair Corr
0.94	ESLT	Elbit Systems	Pair Corr
0.88	EMY	Embraer SA	Pair Corr
0.91	CAE	CAE Inc	Pair Corr
0.85	RRU1	ROLLS ROYCE HADR	Pair Corr
0.77	MO7A	Moog Inc	Pair Corr
0.76	CWT	Curtiss Wright	Pair Corr
0.7	TXT	Textron	Pair Corr
0.79	AIR	AAR Corp	Pair Corr
0.83	BSP	BAE Systems plc Earnings Call This Week	Pair Corr
0.92	CAE	CAE Inc	Pair Corr
0.81	2VZ	LEONARDO DRS INC	Pair Corr
0.86	CVU	CPI Aerostructures	Pair Corr
0.78	DCO	Ducommun Incorporated Earnings Call This Week	Pair Corr
0.91	DRS	Leonardo DRS Common Earnings Call This Week	Pair Corr
0.85	FLY	Firefly Aerospace Common	Pair Corr
0.75	HEI	Heico	Pair Corr
0.88	BBD	BOMBARDIER INC CL	Pair Corr
0.92	HII	Huntington Ingalls	Pair Corr

Moving against Redwire Stock

0.41

PSN

Parsons Corp

Pair Corr

Related Correlations Analysis

	BLDP	EVEX	UP	ALGT	PLPC	LMB	BBSI	ASTE	PRG	GSL
BLDP		0.55	0.73	-0.76	-0.66	-0.56	-0.07	-0.68	-0.73	-0.6	BLDP
EVEX	0.55		0.1	-0.32	-0.36	-0.27	0.32	-0.5	-0.27	-0.32	EVEX
UP	0.73	0.1		-0.53	-0.28	-0.21	0.02	-0.25	-0.41	-0.37	UP
ALGT	-0.76	-0.32	-0.53		0.89	0.84	0.19	0.88	0.89	0.66	ALGT
PLPC	-0.66	-0.36	-0.28	0.89		0.88	0.23	0.91	0.92	0.78	PLPC
LMB	-0.56	-0.27	-0.21	0.84	0.88		0.28	0.85	0.84	0.61	LMB
BBSI	-0.07	0.32	0.02	0.19	0.23	0.28		0.05	0.37	0.09	BBSI
ASTE	-0.68	-0.5	-0.25	0.88	0.91	0.85	0.05		0.85	0.66	ASTE
PRG	-0.73	-0.27	-0.41	0.89	0.92	0.84	0.37	0.85		0.74	PRG
GSL	-0.6	-0.32	-0.37	0.66	0.78	0.61	0.09	0.66	0.74		GSL
	BLDP	EVEX	UP	ALGT	PLPC	LMB	BBSI	ASTE	PRG	GSL

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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

PRG	+ 0.92	PLPC
ASTE	+ 0.91	PLPC
PLPC	+ 0.89	ALGT
PRG	+ 0.89	ALGT
ASTE	+ 0.88	ALGT
LMB	+ 0.88	PLPC

High negative correlations

ALGT	- 0.76	BLDP
PRG	- 0.73	BLDP
ASTE	- 0.68	BLDP
PLPC	- 0.66	BLDP
GSL	- 0.6	BLDP
LMB	- 0.56	BLDP

Risk-Adjusted Indicators

There is a big difference between Redwire Stock performing well and Redwire Corp 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 Redwire Corp'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
BLDP	2.40	(0.86)	0.00	(0.32)	0.00	0.00	3.96	(5.96)	14.07
EVEX	2.83	(0.56)	0.00	(0.21)	0.00	0.00	5.46	(6.70)	25.14
UP	6.29	(0.71)	0.00	(0.52)	0.00	0.00	11.67	(13.58)	61.04
ALGT	2.43	0.64	0.31	0.33	1.90	(3.07)	5.96	(3.71)	19.84
PLPC	2.19	0.32	0.12	0.23	2.59	(2.16)	4.24	(3.73)	11.80
LMB	2.50	0.12	0.05	0.13	3.00	(2.80)	4.34	(5.25)	14.34
BBSI	1.34	(0.18)	0.00	(0.17)	0.00	0.00	2.11	(2.50)	13.82
ASTE	1.74	0.37	0.18	1.72	1.49	(1.95)	4.37	(2.82)	7.79
PRG	1.47	0.25	0.15	0.28	1.31	(1.63)	3.84	(2.25)	8.91
GSL	1.23	0.16	0.07	0.69	1.35	(1.30)	2.58	(2.41)	6.79

Redwire Corp Corporate Management

Aaron Futch	General VP	Profile
Nathan OKonek	General Secretary	Profile
Austin Jordan	Senior Communications	Profile
Steve Bailey	Chief Engineer	Profile
Alex Curatolo	Senior Relations	Profile
Jonathan Baliff	Chief Officer	Profile

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