Textron Correlations

TXT Stock

USD 90.87 0.37 0.41%

The current 90-days correlation between Textron and Huntington Ingalls Industries is 0.38 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Textron Correlation With Market

Very weak diversification

The correlation between Textron and DJI is 0.56 (i.e., Very weak 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.

Build AI portfolio with Textron Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Textron. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in world development indicators.

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

Moving together with Textron Stock

0.84	ESLT	Elbit Systems	Pair Corr
0.61	EVTL	Vertical Aerospace	Pair Corr
0.66	CAE	CAE Inc	Pair Corr
0.75	CAE	CAE Inc	Pair Corr
0.64	CVU	CPI Aerostructures	Pair Corr
0.77	PKE	Park Electrochemical Earnings Call This Week	Pair Corr

Moving against Textron Stock

0.64	VWAV	VisionWave Holdings,	Pair Corr
0.47	600038	Avicopter PLC	Pair Corr
0.47	688685	Jiangsu Maixinlin	Pair Corr
0.42	VTSI	VirTra Inc	Pair Corr
0.63	PSN	Parsons Corp	Pair Corr

Related Correlations Analysis

	HII	WWD	ERJ	ALLE	CSL	AVY	LTM	KTOS	MAS	WSO
HII		0.84	0.74	-0.8	-0.08	0.77	0.74	-0.52	-0.63	-0.65	HII
WWD	0.84		0.64	-0.71	0.07	0.73	0.82	-0.5	-0.41	-0.56	WWD
ERJ	0.74	0.64		-0.6	0.1	0.65	0.78	-0.36	-0.3	-0.35	ERJ
ALLE	-0.8	-0.71	-0.6		0.37	-0.72	-0.64	0.76	0.82	0.83	ALLE
CSL	-0.08	0.07	0.1	0.37		0.21	0.19	0.5	0.7	0.49	CSL
AVY	0.77	0.73	0.65	-0.72	0.21		0.67	-0.48	-0.4	-0.58	AVY
LTM	0.74	0.82	0.78	-0.64	0.19	0.67		-0.52	-0.23	-0.43	LTM
KTOS	-0.52	-0.5	-0.36	0.76	0.5	-0.48	-0.52		0.68	0.77	KTOS
MAS	-0.63	-0.41	-0.3	0.82	0.7	-0.4	-0.23	0.68		0.83	MAS
WSO	-0.65	-0.56	-0.35	0.83	0.49	-0.58	-0.43	0.77	0.83		WSO
	HII	WWD	ERJ	ALLE	CSL	AVY	LTM	KTOS	MAS	WSO

Please upgrade your account to get full access to Macroaxis premium features

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

WWD	+ 0.84	HII
WSO	+ 0.83	ALLE
WSO	+ 0.83	MAS
LTM	+ 0.82	WWD
MAS	+ 0.82	ALLE
LTM	+ 0.78	ERJ

High negative correlations

ALLE	- 0.8	HII
AVY	- 0.72	ALLE
ALLE	- 0.71	WWD
WSO	- 0.65	HII
LTM	- 0.64	ALLE
MAS	- 0.63	HII

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
HII	1.48	0.32	0.20	0.35	1.27	(1.66)	3.71	(2.39)	10.50
WWD	1.58	0.31	0.22	0.25	1.26	(1.80)	3.42	(2.23)	16.03
ERJ	1.53	0.16	0.06	0.69	1.72	(1.77)	4.02	(2.78)	10.26
ALLE	0.91	(0.21)	0.00	(0.17)	0.00	0.00	2.15	(2.28)	5.10
CSL	1.12	(0.10)	(0.04)	(0.01)	1.72	(0.98)	2.04	(2.72)	6.10
AVY	1.12	0.14	0.09	0.33	0.92	(1.36)	2.57	(1.98)	12.00
LTM	1.59	0.26	0.08	(1.43)	1.87	(1.75)	3.26	(3.47)	8.49
KTOS	3.12	(0.15)	(0.01)	0.00	4.65	(2.79)	6.73	(6.53)	20.15
MAS	1.17	(0.23)	0.00	(0.11)	0.00	0.00	2.59	(2.26)	7.94
WSO	1.51	(0.28)	0.00	(0.11)	0.00	0.00	3.56	(3.60)	10.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC