Rocket Lab Correlations

RKLB Stock

USD 69.10 3.55 4.89%

The current 90-days correlation between Rocket Lab USA and Heico is 0.33 (i.e., 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

Poor diversification

The correlation between Rocket Lab USA and DJI is 0.74 (i.e., 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 board of governors.

Moving together with Rocket Stock

0.73	FUCA	FANUC PUNSPADR 110	Pair Corr
0.62	CR	Crane Company	Pair Corr
0.66	HI	Hillenbrand	Pair Corr
0.93	PL	Planet Labs PBC	Pair Corr
0.88	TE	T1 Energy Symbol Change	Pair Corr
0.81	21T	Bodycote PLC	Pair Corr
0.68	DPRO	Draganfly	Pair Corr
0.68	KC4	KONE Oyj	Pair Corr
0.72	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.88	NVJP	Umicore SA	Pair Corr
0.73	TWN	Twin Disc	Pair Corr
0.63	NDX1	Nordex SE	Pair Corr
0.61	PFV	Pfeiffer Vacuum Tech	Pair Corr

Moving against Rocket Stock

0.35	INRN	Interroll Holding	Pair Corr
0.53	D7G	Nel ASA	Pair Corr
0.41	4RX0	ZURN ELKAY WATER	Pair Corr
0.56	EPOW	Sunrise New Energy	Pair Corr
0.55	7YA	M VEST WATER	Pair Corr
0.52	BRM	BioRem Inc	Pair Corr
0.35	WATR	Current Water Techno	Pair Corr
0.31	WAH	WOLFTANK ADISA HLDG	Pair Corr

Related Correlations Analysis

	HEI	UAL	WAB	VRSK	OTIS	XYL	ESLT	EME	FIX
HEI		0.57	0.44	-0.1	0.45	-0.05	0.75	0.43	0.38	HEI
UAL	0.57		0.39	-0.26	0.33	-0.17	0.46	0.29	0.24	UAL
WAB	0.44	0.39		-0.81	0.74	-0.71	0.8	0.95	0.97	WAB
VRSK	-0.1	-0.26	-0.81		-0.56	0.71	-0.45	-0.85	-0.79	VRSK
OTIS	0.45	0.33	0.74	-0.56		-0.46	0.63	0.63	0.68	OTIS
XYL	-0.05	-0.17	-0.71	0.71	-0.46		-0.33	-0.65	-0.69	XYL
ESLT	0.75	0.46	0.8	-0.45	0.63	-0.33		0.79	0.76	ESLT
EME	0.43	0.29	0.95	-0.85	0.63	-0.65	0.79		0.96	EME
FIX	0.38	0.24	0.97	-0.79	0.68	-0.69	0.76	0.96		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	+ 0.97	WAB
FIX	+ 0.96	EME
EME	+ 0.95	WAB
ESLT	+ 0.8	WAB
EME	+ 0.79	ESLT
FIX	+ 0.76	ESLT

High negative correlations

EME	- 0.85	VRSK
VRSK	- 0.81	WAB
FIX	- 0.79	VRSK
XYL	- 0.71	WAB
FIX	- 0.69	XYL
EME	- 0.65	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	1.40	0.02	0.00	0.10	2.27	(1.31)	2.42	(2.39)	15.02
UAL	2.26	0.03	0.05	0.09	2.71	(2.25)	4.76	(4.34)	15.14
WAB	0.97	0.34	0.35	0.42	0.48	(1.16)	2.69	(1.50)	4.99
VRSK	1.30	(0.10)	0.00	(0.91)	0.00	0.00	3.01	(2.55)	12.11
OTIS	0.94	0.06	0.00	0.34	1.07	(1.00)	2.27	(1.99)	5.98
XYL	1.13	(0.20)	0.00	(0.10)	0.00	0.00	2.07	(2.11)	11.41
ESLT	1.60	0.75	0.35	25.48	1.32	(1.92)	3.25	(2.66)	11.68
EME	1.72	0.26	0.11	0.30	2.15	(1.74)	3.78	(3.49)	13.44
FIX	2.44	0.65	0.21	0.60	2.56	(2.67)	5.83	(5.56)	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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