Raytheon Technologies Correlations
| RTX Stock | USD 101.89 0.67 0.66% |
The correlation of Raytheon Technologies 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Raytheon Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Raytheon Technologies Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Raytheon Technologies Corp and NYA is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Raytheon Technologies Corp and NYA in the same portfolio, assuming nothing else is changed.
Raytheon |
The ability to find closely correlated positions to Raytheon Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Raytheon Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Raytheon Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Raytheon Technologies Corp to buy it.
Moving together with Raytheon Stock
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| 0.88 | EH | Ehang Holdings | PairCorr |
| 0.91 | GD | General Dynamics Financial Report 24th of July 2024 | PairCorr |
| 0.9 | GE | GE Aerospace Financial Report 23rd of July 2024 | PairCorr |
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| 0.65 | VTSI | VirTra Inc Trending | PairCorr |
| 0.73 | DCO | Ducommun Incorporated Earnings Call This Week | PairCorr |
| 0.82 | ERJ | Embraer SA ADR Earnings Call This Week | PairCorr |
Moving against Raytheon Stock
| 0.94 | AZ | A2Z Smart Technologies | PairCorr |
| 0.87 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
| 0.61 | PL | Planet Labs PBC Financial Report 13th of June 2024 | PairCorr |
| 0.57 | EVEX | Eve Holding Financial Report 14th of May 2024 | PairCorr |
| 0.55 | ESLT | Elbit Systems Financial Report 4th of June 2024 | PairCorr |
| 0.8 | KWE | KWESST Micro Systems Financial Report 9th of May 2024 | PairCorr |
| 0.67 | HXL | Hexcel Financial Report 22nd of July 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Raytheon Stock performing well and Raytheon Technologies 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 Raytheon Technologies' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NOC | 0.70 | 0.14 | 0.12 | 0.53 | 0.63 | 1.59 | 4.40 | |||
| GD | 0.60 | 0.10 | 0.08 | 0.31 | 0.80 | 1.27 | 7.17 | |||
| LHX | 0.75 | 0.01 | (0.01) | 0.07 | 0.88 | 1.67 | 5.06 | |||
| LMT | 0.59 | 0.12 | 0.10 | 0.90 | 0.50 | 1.36 | 3.60 | |||
| HII | 0.70 | 0.09 | 0.08 | 0.17 | 0.80 | 1.67 | 7.00 | |||
| RKLB | 2.36 | (0.40) | 0.00 | (0.31) | 0.00 | 4.67 | 22.44 | |||
| ASTR | 5.23 | (1.53) | 0.00 | (1.56) | 0.00 | 7.94 | 51.14 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Raytheon Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Raytheon Technologies Corporate Management
Elected by the shareholders, the Raytheon Technologies' board of directors comprises two types of representatives: Raytheon Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Raytheon. The board's role is to monitor Raytheon Technologies' management team and ensure that shareholders' interests are well served. Raytheon Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Raytheon Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Roy Azevedo | President - Raytheon Intelligence and Space | Profile | |
| Elizabeth Amato | Executive Vice President Chief Human Resources Officer | Profile | |
| Brian Rogers | Independent Director | Profile | |
| Stephen Timm | President - Collins Aerospace Systems | Profile | |
| Shane Eddy | President - Pratt and Whitney | Profile |
Already Invested in Raytheon Technologies Corp?
The danger of trading Raytheon Technologies Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Raytheon Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Raytheon Technologies. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Raytheon Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Raytheon Technologies offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Raytheon Technologies' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Raytheon Technologies Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Raytheon Technologies Corp Stock: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Raytheon Technologies Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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When running Raytheon Technologies' price analysis, check to measure Raytheon Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Raytheon Technologies is operating at the current time. Most of Raytheon Technologies' value examination focuses on studying past and present price action to predict the probability of Raytheon Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Raytheon Technologies' price. Additionally, you may evaluate how the addition of Raytheon Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Raytheon Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Raytheon Technologies. If investors know Raytheon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Raytheon Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.32 | Dividend Share 2.36 | Earnings Share 2.54 | Revenue Per Share 50.984 | Quarterly Revenue Growth 0.121 |
The market value of Raytheon Technologies is measured differently than its book value, which is the value of Raytheon that is recorded on the company's balance sheet. Investors also form their own opinion of Raytheon Technologies' value that differs from its market value or its book value, called intrinsic value, which is Raytheon Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Raytheon Technologies' market value can be influenced by many factors that don't directly affect Raytheon Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Raytheon Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Raytheon Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Raytheon Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.