Textron Correlations
| TXT Stock | EUR 82.80 0.28 0.34% |
The current 90-days correlation between Textron and Reliance Steel Aluminum is 0.04 (i.e., Significant diversification). The correlation of Textron 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.
Textron Correlation With Market
Very poor diversification
The correlation between Textron and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Textron and DJI in the same portfolio, assuming nothing else is changed.
Textron |
The ability to find closely correlated positions to Textron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Textron 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 Textron - 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 Textron to buy it.
Moving together with Textron Stock
| 0.73 | D9W | Designer Brands | PairCorr |
| 0.71 | 1SZ0 | Santacruz Silver Mining Split | PairCorr |
| 0.83 | SII | Wheaton Precious Metals | PairCorr |
| 0.78 | 485B | Amcor PLC Split | PairCorr |
| 0.83 | ALV | Allianz SE | PairCorr |
| 0.72 | ADB | Adobe Inc | PairCorr |
| 0.79 | SKNB | Skanska AB | PairCorr |
| 0.63 | LOR | LOral SA | PairCorr |
| 0.82 | 10N | Enter Air SA | PairCorr |
| 0.75 | CVC1 | Carnival plc | PairCorr |
| 0.75 | ASME | ASML Holding NV | PairCorr |
| 0.72 | RATV | Raisio plc | PairCorr |
| 0.81 | 43C | CACTUS INC CLA | PairCorr |
| 0.64 | K34 | Konecranes Plc | PairCorr |
| 0.72 | 1KT | Keysight Technologies | PairCorr |
| 0.78 | TGE1 | MOBILEZONE N | PairCorr |
| 0.78 | HBC1 | HSBC Holdings plc | PairCorr |
| 0.81 | HKT | HK Electric Investments | PairCorr |
| 0.87 | PAE | PACCAR | PairCorr |
| 0.81 | BSI | BE Semiconductor Ind Earnings Call This Week | PairCorr |
| 0.64 | 6FO | GOODTECH ASA A | PairCorr |
Moving against Textron Stock
| 0.83 | BNB | BAYAN RESOURCES | PairCorr |
| 0.82 | BNB | BAYAN RESOURCES | PairCorr |
| 0.85 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.51 | 777 | EUROSPORTS GLOBAL LTD | PairCorr |
| 0.41 | KMY | Kimberly Clark | PairCorr |
| 0.35 | 8LU | TAURUS ENERGY AB | PairCorr |
Related Correlations Analysis
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 Textron Stock performing well and Textron 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 Textron'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 94P | 1.87 | (0.02) | 0.00 | (0.12) | 0.00 | 3.44 | 11.80 | |||
| 8SP | 1.54 | 0.00 | (0.01) | 0.05 | 3.68 | 4.67 | 21.96 | |||
| DVDG | 0.47 | 0.15 | 0.14 | (3.52) | 0.34 | 1.00 | 3.06 | |||
| INL | 3.13 | 0.35 | 0.08 | 0.33 | 4.12 | 8.76 | 24.14 | |||
| BTC1 | 2.30 | (0.62) | 0.00 | (0.79) | 0.00 | 3.98 | 14.40 | |||
| RS6 | 1.21 | 0.34 | 0.28 | 0.93 | 0.76 | 3.18 | 5.55 | |||
| RRU | 1.89 | 0.17 | 0.06 | 0.49 | 2.00 | 3.53 | 9.23 | |||
| 9K1 | 1.52 | 0.31 | 0.11 | (0.39) | 1.64 | 3.87 | 12.62 | |||
| 3RKU | 2.38 | 0.11 | 0.02 | 0.51 | 2.63 | 4.91 | 12.82 | |||
| 9TO | 2.06 | 0.54 | 0.20 | (8.58) | 1.91 | 5.26 | 13.02 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Textron without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Textron Corporate Executives
Elected by the shareholders, the Textron's board of directors comprises two types of representatives: Textron inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Textron. The board's role is to monitor Textron's management team and ensure that shareholders' interests are well served. Textron's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Textron's outside directors are responsible for providing unbiased perspectives on the board's policies.
| David Rosenberg | Executive CFO | Profile |