AeroVironment Correlations

AVAV Stock

USD 323.32 4.77 1.45%

The current 90-days correlation between AeroVironment and BWX Technologies is 0.45 (i.e., Very weak diversification). The correlation of AeroVironment 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.

AeroVironment Correlation With Market

Average diversification

The correlation between AeroVironment and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AeroVironment and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AeroVironment Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AeroVironment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with AeroVironment Stock

0.84	GD	General Dynamics	Pair Corr
0.84	LHX	L3Harris Technologies	Pair Corr
0.84	LMT	Lockheed Martin	Pair Corr
0.61	NOC	Northrop Grumman	Pair Corr
0.83	PSN	Parsons Corp	Pair Corr
0.66	RTX	Raytheon Technologies	Pair Corr
0.61	MAL	Magellan Aerospace	Pair Corr
0.72	DATAPATTNS	Data Patterns Limited	Pair Corr
0.8	IONQ	IONQ Inc	Pair Corr
0.84	SSLLF	Siltronic AG	Pair Corr
0.87	NEE	Nextera Energy Aggressive Push	Pair Corr
0.95	CLSK	CleanSpark Downward Rally	Pair Corr
0.8	CVI	CVR Energy	Pair Corr
0.91	NB	NioCorp Developments	Pair Corr
0.86	TSLA	Tesla Inc	Pair Corr
0.8	DRDGF	Drdgold	Pair Corr
0.74	INVX	Innovex International,	Pair Corr

Moving against AeroVironment Stock

0.66	600685	CSSC Offshore Marine	Pair Corr
0.6	BA	Boeing	Pair Corr
0.38	COHG	Cheetah Oil Gas	Pair Corr
0.47	TCI	Transcontinental Realty	Pair Corr
0.43	MPXOF	MPX International Corp	Pair Corr
0.32	FUTU	Futu Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BWXT	KTOS	WWD	ESLT	CHRW	TXT	NVT	FTAI	SNA	CW
BWXT		0.77	0.73	0.25	0.46	0.12	0.77	0.56	0.65	0.95	BWXT
KTOS	0.77		0.47	0.63	0.32	0.59	0.55	0.66	0.69	0.74	KTOS
WWD	0.73	0.47		-0.09	0.49	-0.05	0.67	0.18	0.5	0.8	WWD
ESLT	0.25	0.63	-0.09		0.15	0.7	0.22	0.64	0.41	0.27	ESLT
CHRW	0.46	0.32	0.49	0.15		0.18	0.83	0.4	0.51	0.66	CHRW
TXT	0.12	0.59	-0.05	0.7	0.18		0.17	0.49	0.56	0.18	TXT
NVT	0.77	0.55	0.67	0.22	0.83	0.17		0.55	0.7	0.9	NVT
FTAI	0.56	0.66	0.18	0.64	0.4	0.49	0.55		0.7	0.6	FTAI
SNA	0.65	0.69	0.5	0.41	0.51	0.56	0.7	0.7		0.72	SNA
CW	0.95	0.74	0.8	0.27	0.66	0.18	0.9	0.6	0.72		CW
	BWXT	KTOS	WWD	ESLT	CHRW	TXT	NVT	FTAI	SNA	CW

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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

CW	+ 0.95	BWXT
CW	+ 0.9	NVT
NVT	+ 0.83	CHRW
CW	+ 0.8	WWD
KTOS	+ 0.77	BWXT
NVT	+ 0.77	BWXT

High negative correlations

ESLT	- 0.09	WWD
TXT	- 0.05	WWD

Risk-Adjusted Indicators

There is a big difference between AeroVironment Stock performing well and AeroVironment 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 AeroVironment'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
BWXT	1.70	0.04	0.02	0.16	2.28	(1.72)	3.36	(3.03)	11.74
KTOS	2.77	0.13	0.04	0.22	4.39	(2.59)	5.95	(6.74)	22.13
WWD	1.10	0.04	0.00	0.17	1.06	(1.19)	2.56	(1.80)	8.10
ESLT	1.54	0.03	0.01	0.16	1.86	(1.59)	3.12	(2.75)	12.38
CHRW	1.27	0.34	0.20	0.65	1.02	(1.38)	2.38	(2.22)	22.91
TXT	1.09	(0.05)	(0.02)	0.08	1.43	(1.07)	2.20	(2.64)	7.34
NVT	1.52	0.36	0.17	4.24	1.14	(1.77)	3.66	(2.37)	12.02
FTAI	2.14	0.05	0.03	0.16	2.94	(2.31)	4.61	(4.43)	18.12
SNA	1.04	0.00	(0.01)	0.12	1.03	(1.19)	2.45	(1.68)	5.82
CW	1.40	0.14	0.08	0.28	1.35	(1.57)	3.02	(2.79)	6.81

AeroVironment Corporate Management

Brian CPA	Controller VP	Profile
Kristy Benson	VP Treasurer	Profile
Tim Faltemier	Head Business	Profile
Brad Truesdell	Executive Officer	Profile
Matthew Ramsey	Chief Officer	Profile

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