Rocket Lab Correlations

RKLB Stock

USD 70.71 4.39 6.62%

The current 90-days correlation between Rocket Lab USA and Heico 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

Very poor diversification

The correlation between Rocket Lab USA and DJI is 0.87 (i.e., Very poor 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.

Build AI portfolio with Rocket Stock

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 metropolitan statistical area.

Moving together with Rocket Stock

0.74	PH	Parker Hannifin	Pair Corr
0.96	PL	Planet Labs PBC	Pair Corr
0.72	HZ8	Insteel Industries	Pair Corr
0.73	FIP	FTAI Infrastructure	Pair Corr
0.92	GHM	Graham Earnings Call Today	Pair Corr
0.68	FSTR	LB Foster	Pair Corr
0.76	GRC	Gorman Rupp	Pair Corr
0.84	KAI	Kadant Inc	Pair Corr
0.66	MWA	Mueller Water Products Earnings Call This Week	Pair Corr
0.66	NPO	Enpro Industries	Pair Corr
0.82	SNA	Snap On	Pair Corr
0.82	TKR	Timken Company Earnings Call This Week	Pair Corr
0.66	TRS	TriMas	Pair Corr
0.76	WWD	Woodward	Pair Corr
0.81	OERL	OC Oerlikon Corp	Pair Corr
0.86	PRV	Porvair plc Earnings Call This Week	Pair Corr

Moving against Rocket Stock

0.67	XPON	Expion360	Pair Corr
0.59	CXT	Crane NXT Earnings Call This Week	Pair Corr
0.54	WATR	Current Water Techno	Pair Corr
0.65	ILAG	Intelligent Living	Pair Corr
0.64	WFF	WF Holding Limited	Pair Corr
0.51	LIQT	LiqTech International	Pair Corr
0.4	INLF	INLIF LIMITED Ordinary	Pair Corr
0.36	NPWR	NET Power	Pair Corr
0.33	PNT	Pentair plc	Pair Corr

Related Correlations Analysis

	HEI	UAL	WAB	VRSK	OTIS	XYL	ESLT	EME	FIX
HEI		0.64	0.68	0.05	0.37	-0.03	0.82	0.55	0.57	HEI
UAL	0.64		0.68	0.06	-0.03	-0.55	0.62	0.2	0.36	UAL
WAB	0.68	0.68		-0.38	0.16	-0.34	0.9	0.78	0.87	WAB
VRSK	0.05	0.06	-0.38		-0.22	-0.14	-0.17	-0.5	-0.41	VRSK
OTIS	0.37	-0.03	0.16	-0.22		0.59	0.2	0.34	0.16	OTIS
XYL	-0.03	-0.55	-0.34	-0.14	0.59		-0.31	0.13	-0.13	XYL
ESLT	0.82	0.62	0.9	-0.17	0.2	-0.31		0.75	0.83	ESLT
EME	0.55	0.2	0.78	-0.5	0.34	0.13	0.75		0.93	EME
FIX	0.57	0.36	0.87	-0.41	0.16	-0.13	0.83	0.93		FIX
	HEI	UAL	WAB	VRSK	OTIS	XYL	ESLT	EME	FIX

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

FIX	+ 0.93	EME
ESLT	+ 0.9	WAB
FIX	+ 0.87	WAB
FIX	+ 0.83	ESLT
ESLT	+ 0.82	HEI
EME	+ 0.78	WAB

High negative correlations

XYL	- 0.55	UAL
EME	- 0.5	VRSK
FIX	- 0.41	VRSK
VRSK	- 0.38	WAB
XYL	- 0.34	WAB
ESLT	- 0.31	XYL

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
HEI	1.22	(0.01)	(0.01)	0.02	1.43	(1.25)	2.42	(2.39)	8.75
UAL	2.09	0.14	0.07	0.11	2.25	(2.24)	4.76	(3.46)	11.82
WAB	1.03	0.20	0.18	0.19	0.93	(1.13)	2.58	(1.54)	4.99
VRSK	1.05	(0.25)	0.00	(1.58)	0.00	0.00	1.76	(1.57)	12.35
OTIS	0.84	(0.04)	0.00	(0.04)	0.00	0.00	1.52	(2.00)	4.47
XYL	0.98	(0.12)	0.00	1.40	0.00	0.00	1.70	(2.11)	8.37
ESLT	1.74	0.53	0.24	1.22	1.62	(1.95)	3.77	(2.70)	11.94
EME	1.60	0.07	0.03	0.10	2.06	(1.53)	3.24	(3.76)	9.21
FIX	2.26	0.26	0.07	0.25	3.38	(2.06)	4.01	(6.15)	14.99

Rocket Lab Corporate Management

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

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