Rocket Lab Correlations

RKLB Stock

USD 23.26 0.85 3.79%

The current 90-days correlation between Rocket Lab USA and Redwire Corp is 0.54 (i.e., Very weak diversification). The correlation of Rocket Lab 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.

Rocket Lab Correlation With Market

Weak diversification

The correlation between Rocket Lab USA and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rocket Lab USA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Rocket Stock

0.79	CW	Curtiss Wright	Pair Corr
0.76	PL	Planet Labs PBC	Pair Corr
0.9	ESLT	Elbit Systems	Pair Corr
0.94	CAE	CAE Inc	Pair Corr
0.85	DRS	Leonardo DRS, Common	Pair Corr
0.71	ERJ	Embraer SA ADR Sell-off Trend	Pair Corr
0.65	HEI	Heico Fiscal Year End 16th of December 2024	Pair Corr
0.93	HWM	Howmet Aerospace	Pair Corr
0.7	LHX	L3Harris Technologies Fiscal Year End 23rd of January 2025	Pair Corr
0.79	PKE	Park Electrochemical	Pair Corr
0.96	RDW	Redwire Corp	Pair Corr
0.89	TGI	Triumph Group	Pair Corr
0.63	WWD	Woodward Earnings Call Today	Pair Corr
0.72	GPUS	Hyperscale Data, Symbol Change	Pair Corr

Moving against Rocket Stock

0.82	HII	Huntington Ingalls	Pair Corr
0.73	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.72	EVTL	Vertical Aerospace Trending	Pair Corr
0.88	LILMW	Lilium Equity Warrants	Pair Corr
0.82	RGR	Sturm Ruger	Pair Corr
0.72	KWE	KWESST Micro Systems Fiscal Year End 15th of January 2025	Pair Corr
0.68	SPR	Spirit Aerosystems	Pair Corr
0.64	SIF	SIFCO Industries	Pair Corr
0.5	NOC	Northrop Grumman Fiscal Year End 23rd of January 2025	Pair Corr
0.47	TXT	Textron Fiscal Year End 22nd of January 2025	Pair Corr
0.41	LMT	Lockheed Martin Fiscal Year End 28th of January 2025	Pair Corr
0.39	KWESW	KWESST Micro Systems	Pair Corr

Related Correlations Analysis

	RDW	MNTS	PL	SPCE	BA	ASTR	VORBQ	LMT	LLAP	HEI-A
RDW		-0.09	0.77	0.53	-0.63	-0.71	0.0	-0.36	-0.42	0.58	RDW
MNTS	-0.09		0.24	0.16	0.48	0.17	0.0	-0.13	0.67	-0.28	MNTS
PL	0.77	0.24		0.39	-0.23	-0.42	0.0	-0.54	0.12	0.43	PL
SPCE	0.53	0.16	0.39		-0.06	-0.65	0.0	-0.25	-0.11	0.04	SPCE
BA	-0.63	0.48	-0.23	-0.06		0.45	0.0	0.08	0.77	-0.65	BA
ASTR	-0.71	0.17	-0.42	-0.65	0.45		0.0	0.44	0.43	-0.11	ASTR
VORBQ	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	VORBQ
LMT	-0.36	-0.13	-0.54	-0.25	0.08	0.44	0.0		-0.17	0.07	LMT
LLAP	-0.42	0.67	0.12	-0.11	0.77	0.43	0.0	-0.17		-0.53	LLAP
HEI-A	0.58	-0.28	0.43	0.04	-0.65	-0.11	0.0	0.07	-0.53		HEI-A
	RDW	MNTS	PL	SPCE	BA	ASTR	VORBQ	LMT	LLAP	HEI-A

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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

PL	+ 0.77	RDW
LLAP	+ 0.77	BA
LLAP	+ 0.67	MNTS
HEI-A	+ 0.58	RDW
SPCE	+ 0.53	RDW
BA	+ 0.48	MNTS

High negative correlations

ASTR	- 0.71	RDW
HEI-A	- 0.65	BA
ASTR	- 0.65	SPCE
BA	- 0.63	RDW
LMT	- 0.54	PL
HEI-A	- 0.53	LLAP

Risk-Adjusted Indicators

There is a big difference between Rocket Stock performing well and Rocket Lab 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 Rocket Lab'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
RDW	3.63	0.83	0.29	0.42	3.12	(4.55)	8.38	(6.07)	20.40
MNTS	9.95	0.63	0.15	0.20	8.86	(16.50)	12.96	(15.52)	192.95
PL	3.28	0.19	0.08	0.17	5.66	(3.71)	7.62	(5.96)	37.79
SPCE	3.80	(0.19)	0.02	0.07	4.37	(4.03)	9.21	(7.06)	28.44
BA	1.68	(0.26)	0.00	(0.49)	0.00	0.00	3.11	(3.41)	8.59
ASTR	2.55	(0.04)	0.00	0.35	0.00	0.00	5.17	(7.35)	15.15
VORBQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LMT	0.84	(0.09)	0.00	(0.08)	0.00	0.00	1.50	(1.45)	9.77
LLAP	4.12	(1.22)	0.00	2.52	0.00	0.00	4.17	(8.57)	51.59
HEI-A	1.06	0.05	0.03	0.17	1.16	(1.14)	2.40	(2.08)	5.63

Rocket Lab Corporate Management

Morgan Bailey	Director Communications	Profile
Shaun ODonnell	Chief Programs	Profile
Mike Lynch	Chief Officer	Profile
Colin Canfield	Investor Manager	Profile
Peter Beck	Chairman, Founder	Profile
Brad Warezak	Chief Officer	Profile

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