Hexcel Correlations

HXL Stock

USD 75.98 1.45 1.95%

The current 90-days correlation between Hexcel and Ralliant Common is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hexcel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hexcel moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hexcel Correlation With Market

Modest diversification

The correlation between Hexcel and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hexcel and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hexcel Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hexcel. 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 Hexcel Stock please use our How to buy in Hexcel Stock guide.

Moving together with Hexcel Stock

0.73	RTX	Raytheon Technologies	Pair Corr
0.86	PPERY	Bank Mandiri Persero	Pair Corr
0.66	PPERF	Bank Mandiri Persero	Pair Corr
0.72	PBCRY	Bank Central Asia	Pair Corr
0.7	GKOS	Glaukos Corp	Pair Corr
0.89	NHIC	NewHold Investment Corp	Pair Corr
0.66	KODK	Eastman Kodak	Pair Corr
0.73	THH	TryHard Holdings Trending	Pair Corr
0.81	COPL	Copley Acquisition Corp	Pair Corr
0.62	SBKFF	State Bank	Pair Corr
0.65	SFRX	Seafarer Exploration	Pair Corr
0.85	OBIO	Orchestra BioMed Holdings	Pair Corr

Moving against Hexcel Stock

0.8	DRS	Leonardo DRS, Common	Pair Corr
0.72	MDA	MDA	Pair Corr
0.69	HOVR	New Horizon Aircraft	Pair Corr
0.65	NOC	Northrop Grumman	Pair Corr
0.63	LMT	Lockheed Martin	Pair Corr
0.54	BA	Boeing	Pair Corr
0.51	LHX	L3Harris Technologies	Pair Corr
0.5	AVAV	AeroVironment	Pair Corr
0.71	ENRT	Enertopia Corporatio	Pair Corr
0.6	AAUGF	Angold Resources Earnings Call This Week	Pair Corr
0.33	VTMXF	Vital Metals Limited	Pair Corr

Related Correlations Analysis

	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ
RAL		-0.61	-0.41	-0.55	0.27	-0.57	0.82	0.83	0.45	-0.59	RAL
SPR	-0.61		0.24	0.52	0.09	0.7	-0.58	-0.38	-0.01	0.53	SPR
NPO	-0.41	0.24		0.66	-0.03	0.36	-0.14	-0.29	-0.01	0.54	NPO
MRCY	-0.55	0.52	0.66		0.31	0.52	-0.34	-0.5	0.02	0.63	MRCY
PL	0.27	0.09	-0.03	0.31		-0.08	0.43	0.3	0.61	-0.15	PL
FLY	-0.57	0.7	0.36	0.52	-0.08		-0.44	-0.3	0.24	0.73	FLY
AMTM	0.82	-0.58	-0.14	-0.34	0.43	-0.44		0.82	0.64	-0.31	AMTM
OMAB	0.83	-0.38	-0.29	-0.5	0.3	-0.3	0.82		0.63	-0.39	OMAB
GVA	0.45	-0.01	-0.01	0.02	0.61	0.24	0.64	0.63		0.02	GVA
BZ	-0.59	0.53	0.54	0.63	-0.15	0.73	-0.31	-0.39	0.02		BZ
	RAL	SPR	NPO	MRCY	PL	FLY	AMTM	OMAB	GVA	BZ

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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

OMAB	+ 0.83	RAL
AMTM	+ 0.82	RAL
OMAB	+ 0.82	AMTM
BZ	+ 0.73	FLY
FLY	+ 0.7	SPR
MRCY	+ 0.66	NPO

High negative correlations

SPR	- 0.61	RAL
BZ	- 0.59	RAL
AMTM	- 0.58	SPR
FLY	- 0.57	RAL
MRCY	- 0.55	RAL
OMAB	- 0.5	MRCY

Risk-Adjusted Indicators

There is a big difference between Hexcel Stock performing well and Hexcel 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 Hexcel'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
RAL	1.46	0.20	0.13	0.20	1.51	(1.61)	2.83	(2.71)	8.74
SPR	1.19	(0.05)	0.00	0.25	0.00	0.00	2.29	(3.30)	7.96
NPO	1.62	(0.23)	0.00	(0.07)	0.00	0.00	2.88	(4.32)	9.97
MRCY	1.97	(0.27)	0.00	(0.05)	0.00	0.00	4.23	(3.62)	14.16
PL	3.70	0.84	0.23	0.29	3.70	(4.47)	7.84	(6.87)	42.89
FLY	5.26	(0.84)	0.00	(0.22)	0.00	0.00	9.56	(14.09)	32.11
AMTM	2.32	0.35	0.19	0.23	1.79	(3.07)	4.95	(3.48)	21.59
OMAB	1.37	0.10	0.05	0.21	1.43	(1.55)	4.87	(1.81)	9.77
GVA	0.81	0.03	0.02	0.09	0.99	(0.92)	1.69	(1.73)	5.83
BZ	1.71	(0.27)	0.00	(0.21)	0.00	0.00	3.57	(3.65)	11.04

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