Leidos Holdings Correlations

LDOS Stock

USD 162.54 0.17 0.10%

The current 90-days correlation between Leidos Holdings and Science Applications International is 0.8 (i.e., Very poor diversification). The correlation of Leidos Holdings 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.

Leidos Holdings Correlation With Market

Weak diversification

The correlation between Leidos Holdings and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leidos Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Leidos Stock

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

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

Moving together with Leidos Stock

0.66	KD	Kyndryl Holdings	Pair Corr
0.79	VNET	VNET Group DRC Tech Boost	Pair Corr
0.71	VRRM	Verra Mobility Corp	Pair Corr
0.86	GDS	GDS Holdings	Pair Corr
0.64	IBM	International Business Earnings Call This Week	Pair Corr
0.64	III	Information Services	Pair Corr
0.65	JFU	9F Inc	Pair Corr
0.7	PSN	Parsons Corp	Pair Corr
0.73	VYX	NCR Voyix	Pair Corr
0.63	WIT	Wipro Limited ADR	Pair Corr
0.61	XRX	Xerox Corp Earnings Call This Week	Pair Corr
0.66	IBEX	IBEX	Pair Corr
0.63	INFY	Infosys Ltd ADR	Pair Corr

Moving against Leidos Stock

0.45	FI	Fiserv, Earnings Call This Week	Pair Corr
0.35	GIB	CGI Inc	Pair Corr
0.34	EXLS	ExlService Holdings	Pair Corr
0.49	ARBB	ARB IOT Group	Pair Corr
0.41	DTSTW	Data Storage	Pair Corr
0.41	ASGN	ASGN Inc Earnings Call This Week	Pair Corr
0.35	AUROW	Aurora Innovation	Pair Corr

Related Correlations Analysis

	SAIC	CACI	CDW	IT	JKHY	LHX	HII	BAH
SAIC		0.37	-0.07	0.31	-0.3	-0.55	-0.09	0.86	SAIC
CACI	0.37		0.59	-0.11	0.32	0.36	0.73	0.3	CACI
CDW	-0.07	0.59		0.28	0.82	0.49	0.38	0.01	CDW
IT	0.31	-0.11	0.28		0.24	-0.57	-0.66	0.54	IT
JKHY	-0.3	0.32	0.82	0.24		0.56	0.22	-0.21	JKHY
LHX	-0.55	0.36	0.49	-0.57	0.56		0.75	-0.68	LHX
HII	-0.09	0.73	0.38	-0.66	0.22	0.75		-0.27	HII
BAH	0.86	0.3	0.01	0.54	-0.21	-0.68	-0.27		BAH
	SAIC	CACI	CDW	IT	JKHY	LHX	HII	BAH

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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

BAH	+ 0.86	SAIC
JKHY	+ 0.82	CDW
HII	+ 0.75	LHX
HII	+ 0.73	CACI
CDW	+ 0.59	CACI
LHX	+ 0.56	JKHY

High negative correlations

BAH	- 0.68	LHX
HII	- 0.66	IT
LHX	- 0.57	IT
LHX	- 0.55	SAIC
JKHY	- 0.3	SAIC
BAH	- 0.27	HII

Risk-Adjusted Indicators

There is a big difference between Leidos Stock performing well and Leidos Holdings 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 Leidos Holdings' 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
SAIC	1.25	(0.10)	0.00	(0.06)	0.00	0.00	2.81	(2.37)	16.40
CACI	1.33	0.15	0.04	0.50	1.63	(1.43)	2.88	(2.89)	12.26
CDW	1.35	0.10	0.10	0.21	1.13	(1.65)	2.72	(2.48)	10.41
IT	1.01	(0.33)	0.00	(0.22)	0.00	0.00	1.88	(2.29)	6.93
JKHY	0.82	(0.04)	(0.09)	0.06	0.94	(0.95)	1.54	(1.71)	6.96
LHX	0.80	0.23	0.14	1.03	0.76	(0.98)	2.64	(1.43)	7.97
HII	1.04	0.19	0.08	0.88	0.98	(1.12)	2.10	(2.03)	5.56
BAH	1.42	(0.10)	(0.04)	0.00	3.68	(1.18)	3.05	(2.76)	20.03

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