Elbit Systems Correlations

ESLT Stock

USD 455.70 13.99 3.17%

The current 90-days correlation between Elbit Systems and Fomento Economico Mexicano is 0.35 (i.e., Weak diversification). The correlation of Elbit Systems 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.

Elbit Systems Correlation With Market

Modest diversification

The correlation between Elbit Systems and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elbit Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elbit Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elbit Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Elbit Stock

0.73	AZ	A2Z Smart Technologies	Pair Corr
0.77	CW	Curtiss Wright	Pair Corr
0.74	GD	General Dynamics	Pair Corr
0.67	GE	GE Aerospace	Pair Corr
0.81	PL	Planet Labs PBC	Pair Corr
0.69	VTSI	VirTra Inc	Pair Corr
0.8	EVEX	Eve Holding Downward Rally	Pair Corr
0.7	EVTL	Vertical Aerospace	Pair Corr
0.82	AIR	AAR Corp Earnings Call This Week	Pair Corr
0.79	CAE	CAE Inc	Pair Corr
0.82	DCO	Ducommun Incorporated	Pair Corr
0.78	DRS	Leonardo DRS, Common	Pair Corr
0.73	ERJ	Embraer SA ADR	Pair Corr
0.85	HEI	Heico	Pair Corr
0.72	HII	Huntington Ingalls	Pair Corr
0.72	HWM	Howmet Aerospace	Pair Corr
0.76	HXL	Hexcel	Pair Corr
0.82	LHX	L3Harris Technologies	Pair Corr
0.77	NPK	National Presto Indu	Pair Corr
0.7	PKE	Park Electrochemical Earnings Call This Week	Pair Corr
0.75	RDW	Redwire Corp	Pair Corr
0.83	RTX	Raytheon Technologies	Pair Corr
0.78	SIF	SIFCO Industries	Pair Corr
0.61	SPR	Spirit Aerosystems	Pair Corr
0.69	TDG	Transdigm Group	Pair Corr
0.73	TXT	Textron	Pair Corr
0.8	WWD	Woodward	Pair Corr

Moving against Elbit Stock

0.8	MNTS	Momentus	Pair Corr
0.37	SHMDW	SCHMID Group NV	Pair Corr

Related Correlations Analysis

	EGDFF	FMX	BUD	HP	OBGRF	TBVPY	VTDRF
EGDFF		0.0	0.0	0.0	0.0	0.0	0.0	EGDFF
FMX	0.0		0.71	-0.43	0.48	0.44	0.47	FMX
BUD	0.0	0.71		-0.7	0.44	0.7	0.69	BUD
HP	0.0	-0.43	-0.7		-0.34	-0.67	-0.54	HP
OBGRF	0.0	0.48	0.44	-0.34		0.22	0.64	OBGRF
TBVPY	0.0	0.44	0.7	-0.67	0.22		0.47	TBVPY
VTDRF	0.0	0.47	0.69	-0.54	0.64	0.47		VTDRF
	EGDFF	FMX	BUD	HP	OBGRF	TBVPY	VTDRF

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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

BUD	+ 0.71	FMX
TBVPY	+ 0.7	BUD
VTDRF	+ 0.69	BUD
VTDRF	+ 0.64	OBGRF
OBGRF	+ 0.48	FMX
VTDRF	+ 0.47	FMX

High negative correlations

HP	- 0.7	BUD
TBVPY	- 0.67	HP
VTDRF	- 0.54	HP
HP	- 0.43	FMX
OBGRF	- 0.34	HP
VTDRF	- 0.0	EGDFF

Risk-Adjusted Indicators

There is a big difference between Elbit Stock performing well and Elbit Systems 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 Elbit Systems' 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
EGDFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FMX	1.19	(0.02)	(0.06)	0.10	1.68	(1.17)	2.29	(2.15)	7.78
BUD	1.02	0.07	(0.01)	0.32	1.06	(1.12)	2.29	(2.04)	6.90
HP	2.98	(0.57)	0.00	(0.19)	0.00	0.00	7.21	(5.51)	29.53
OBGRF	1.18	0.55	0.00	(2.91)	0.00	0.00	3.81	0.00	11.69
TBVPY	0.67	(0.11)	0.00	(0.26)	0.00	0.00	0.00	(2.66)	17.46
VTDRF	0.04	0.00	0.00	0.38	0.00	0.00	0.00	0.00	1.26

Elbit Systems Corporate Management

David Temin	Chief Compliance Officer, Executive VP and Sr. Counsel	Profile
Daniella Finn	Vice Relations	Profile
Oren Sabag	Executive EW	Profile
Yehuda Vered	General Manager of Elbit Systems Land and C4I Division	Profile
Rami Myerson	Director Relations	Profile

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