Textron Correlations

TXT Stock

USD 82.03 1.60 1.99%

The current 90-days correlation between Textron and Huntington Ingalls Industries is 0.32 (i.e., Weak diversification). The correlation of Textron 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.

Textron Correlation With Market

Very weak diversification

The correlation between Textron and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Textron and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Textron Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Textron. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in banks.

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

Moving together with Textron Stock

0.64	300324	Beijing Watertek Inf	Pair Corr
0.7	LHX	L3Harris Technologies	Pair Corr
0.72	LMT	Lockheed Martin	Pair Corr
0.7	IONQ	IONQ Inc	Pair Corr
0.63	GTLS	Chart Industries	Pair Corr
0.67	ILLR	Triller Group	Pair Corr
0.67	DRDGF	Drdgold	Pair Corr

Moving against Textron Stock

0.51	600685	CSSC Offshore Marine	Pair Corr
0.5	COHG	Cheetah Oil Gas	Pair Corr
0.33	GEBHF	Genting Berhad	Pair Corr
0.46	CGUD	Com GuardCom	Pair Corr
0.34	MPXOF	MPX International Corp	Pair Corr

Related Correlations Analysis

	HII	WWD	ERJ	ALLE	CSL	AVY	LTM	KTOS	MAS	WSO
HII		0.79	0.81	-0.1	-0.68	0.17	-0.38	0.65	-0.83	-0.76	HII
WWD	0.79		0.66	-0.34	-0.45	0.41	-0.5	0.51	-0.73	-0.49	WWD
ERJ	0.81	0.66		-0.24	-0.52	0.31	-0.38	0.4	-0.68	-0.54	ERJ
ALLE	-0.1	-0.34	-0.24		-0.35	-0.67	0.02	0.48	0.2	-0.05	ALLE
CSL	-0.68	-0.45	-0.52	-0.35		0.37	0.6	-0.83	0.79	0.68	CSL
AVY	0.17	0.41	0.31	-0.67	0.37		0.09	-0.33	0.0	-0.03	AVY
LTM	-0.38	-0.5	-0.38	0.02	0.6	0.09		-0.6	0.65	0.21	LTM
KTOS	0.65	0.51	0.4	0.48	-0.83	-0.33	-0.6		-0.6	-0.51	KTOS
MAS	-0.83	-0.73	-0.68	0.2	0.79	0.0	0.65	-0.6		0.74	MAS
WSO	-0.76	-0.49	-0.54	-0.05	0.68	-0.03	0.21	-0.51	0.74		WSO
	HII	WWD	ERJ	ALLE	CSL	AVY	LTM	KTOS	MAS	WSO

Please upgrade your account to get full access to Macroaxis premium features

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

ERJ	+ 0.81	HII
WWD	+ 0.79	HII
MAS	+ 0.79	CSL
WSO	+ 0.74	MAS
WSO	+ 0.68	CSL
ERJ	+ 0.66	WWD

High negative correlations

KTOS	- 0.83	CSL
MAS	- 0.83	HII
WSO	- 0.76	HII
MAS	- 0.73	WWD
MAS	- 0.68	ERJ
CSL	- 0.68	HII

Risk-Adjusted Indicators

There is a big difference between Textron Stock performing well and Textron 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 Textron'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
HII	1.09	0.16	0.13	0.30	0.94	(1.29)	2.77	(1.61)	9.84
WWD	1.07	0.03	0.00	0.13	1.06	(1.14)	2.56	(1.80)	8.10
ERJ	1.53	0.18	0.05	165.03	1.72	(1.77)	4.02	(2.78)	10.26
ALLE	0.92	(0.06)	(0.05)	0.03	1.08	(0.93)	1.92	(2.06)	6.40
CSL	1.57	(0.33)	0.00	(0.07)	0.00	0.00	3.80	(3.69)	11.66
AVY	1.05	0.00	(0.04)	0.10	1.10	(1.14)	2.32	(1.67)	12.00
LTM	1.48	(0.11)	(0.03)	0.02	2.07	(1.44)	3.35	(3.46)	10.46
KTOS	2.82	0.33	0.08	0.30	4.17	(2.74)	6.48	(6.74)	22.32
MAS	1.26	(0.31)	0.00	(0.09)	0.00	0.00	3.24	(2.26)	9.53
WSO	1.60	(0.38)	0.00	(0.14)	0.00	0.00	2.53	(3.60)	10.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC