HEICO Correlations

HEI-A Stock

USD 253.13 1.22 0.48%

The current 90-days correlation between HEICO and Heico is 0.98 (i.e., Almost no diversification). The correlation of HEICO 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.

HEICO Correlation With Market

Weak diversification

The correlation between HEICO and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HEICO and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with HEICO Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HEICO. 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.

For information on how to trade HEICO Stock refer to our How to Trade HEICO Stock guide.

Moving together with HEICO Stock

0.88	AZ	A2Z Smart Technologies	Pair Corr
0.81	BA	Boeing	Pair Corr
0.96	CW	Curtiss Wright	Pair Corr
0.74	GD	General Dynamics Earnings Call This Week	Pair Corr
0.92	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.9	PL	Planet Labs PBC	Pair Corr
0.8	BA-PA	Boeing	Pair Corr
0.72	VSEC	VSE Corporation	Pair Corr
0.9	VTSI	VirTra Inc	Pair Corr
0.84	ESLT	Elbit Systems	Pair Corr
0.91	EVEX	Eve Holding Downward Rally	Pair Corr
0.82	EVTL	Vertical Aerospace Trending	Pair Corr
0.91	AIR	AAR Corp	Pair Corr
0.86	CAE	CAE Inc	Pair Corr
0.96	DCO	Ducommun Incorporated	Pair Corr
0.92	DRS	Leonardo DRS, Common	Pair Corr
0.8	ERJ	Embraer SA ADR	Pair Corr
1.0	HEI	Heico	Pair Corr
0.74	HII	Huntington Ingalls	Pair Corr
0.92	HWM	Howmet Aerospace	Pair Corr
0.86	HXL	Hexcel Earnings Call This Week	Pair Corr
0.92	LHX	L3Harris Technologies Earnings Call This Week	Pair Corr
0.83	NPK	National Presto Indu Earnings Call This Week	Pair Corr
0.66	PKE	Park Electrochemical	Pair Corr
0.84	RDW	Redwire Corp	Pair Corr
0.93	RTX	Raytheon Technologies Earnings Call This Week	Pair Corr
0.83	SIF	SIFCO Industries	Pair Corr
0.8	SPR	Spirit Aerosystems	Pair Corr
0.84	TDG	Transdigm Group	Pair Corr
0.8	TGI	Triumph Group Sell-off Trend	Pair Corr
0.89	TXT	Textron Earnings Call This Week	Pair Corr
0.97	WWD	Woodward	Pair Corr

Moving against HEICO Stock

0.62	SATLW	Satellogic Warrant	Pair Corr
0.44	RGR	Sturm Ruger	Pair Corr
0.35	VVX	V2X Inc	Pair Corr
0.34	SHMDW	SCHMID Group NV	Pair Corr
0.33	GPUS	Hyperscale Data, Symbol Change	Pair Corr

Related Correlations Analysis

	EVEX	HEI	MRCY	AVAV	HWM	MOG-A	LEN-B	MOG-B	BWXT
EVEX		0.92	0.6	0.92	0.84	0.63	0.56	0.77	0.88	EVEX
HEI	0.92		0.65	0.86	0.93	0.68	0.53	0.77	0.96	HEI
MRCY	0.6	0.65		0.6	0.53	0.22	0.28	0.6	0.76	MRCY
AVAV	0.92	0.86	0.6		0.8	0.59	0.53	0.73	0.83	AVAV
HWM	0.84	0.93	0.53	0.8		0.86	0.56	0.76	0.85	HWM
MOG-A	0.63	0.68	0.22	0.59	0.86		0.58	0.63	0.52	MOG-A
LEN-B	0.56	0.53	0.28	0.53	0.56	0.58		0.34	0.44	LEN-B
MOG-B	0.77	0.77	0.6	0.73	0.76	0.63	0.34		0.77	MOG-B
BWXT	0.88	0.96	0.76	0.83	0.85	0.52	0.44	0.77		BWXT
	EVEX	HEI	MRCY	AVAV	HWM	MOG-A	LEN-B	MOG-B	BWXT

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Risk-Adjusted Indicators

There is a big difference between HEICO Stock performing well and HEICO 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 HEICO'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
EVEX	3.83	0.75	0.23	0.44	3.45	(4.53)	11.87	(6.90)	21.29
HEI	1.08	0.28	0.17	0.55	1.08	(1.23)	2.17	(1.94)	9.70
MRCY	1.71	0.12	0.01	0.52	2.58	(1.53)	3.68	(4.00)	11.63
AVAV	2.57	1.02	0.32	2.66	2.15	(3.11)	5.36	(2.64)	32.98
HWM	1.24	0.52	0.28	0.79	1.04	(1.46)	4.08	(2.35)	12.15
MOG-A	1.26	0.11	0.06	0.24	1.38	(1.31)	3.20	(2.53)	8.30
LEN-B	1.70	(0.10)	(0.02)	0.06	2.02	(1.74)	3.96	(3.47)	9.64
MOG-B	0.81	0.27	0.00	0.91	0.00	0.00	3.63	(0.17)	10.36
BWXT	1.18	0.44	0.20	1.12	1.08	(1.28)	3.11	(2.56)	15.49

HEICO Corporate Management

Steven CPA	Chief Treasurer	Profile
Carlos Macau	CFO VP	Profile
Laurans Mendelson	Executive Board	Profile
Elizabeth Letendre	Corporate Secretary	Profile
Bradley Rowen	Chief Treasurer	Profile

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