BAE Systems Correlations

Stocks . UK . 
Stock . BAE Systems plc
BA Stock   1,650  3.50  0.21%   
The current 90-days correlation between BAE Systems plc and Dentsply Sirona is -0.09 (i.e., Good diversification). The correlation of BAE Systems 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.

BAE Systems Correlation With Market

Average diversification

The correlation between BAE Systems plc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BAE Systems plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BAE Systems could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BAE Systems 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 BAE Systems - 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 BAE Systems plc to buy it.

Moving together with BAE Stock

  0.66BBB Bigblu Broadband PLCPairCorr

Moving against BAE Stock

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  0.32NBPE NB Private EquityPairCorr
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  0.78TUN Tungsten West PLCPairCorr
  0.64RIGD Reliance IndustriesPairCorr
  0.63CTL CleanTech Lithium plcPairCorr
  0.620J1R HCA HealthcarePairCorr
  0.55TMIP Taylor Maritime InvePairCorr
  0.55FERG Ferguson PlcPairCorr
  0.550LEE Teradata CorpPairCorr
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  0.50L4F Sealed Air CorpPairCorr

Related Correlations Analysis


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

CGI
+ 0.82
EWI
TMIP
+ 0.79
ARR
ARR
+ 0.68
0NW1
TMIP
+ 0.58
0NW1
0NW1
+ 0.56
EWI
CGI
+ 0.51
0NW1
  

High negative correlations

TMIP
- 0.82
0I8F
ARR
- 0.72
0I8F
G4M
- 0.49
0I8F
CGI
- 0.45
0I8F
0NW1
- 0.44
0I8F
EWI
- 0.37
0I8F

Risk-Adjusted Indicators

There is a big difference between BAE Stock performing well and BAE Systems 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 BAE Systems' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in BAE Systems 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.

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BAE Systems Corporate Management

Elected by the shareholders, the BAE Systems' board of directors comprises two types of representatives: BAE Systems inside directors who are chosen from within the company, and outside directors, selected externally and held independent of BAE. The board's role is to monitor BAE Systems' management team and ensure that shareholders' interests are well served. BAE Systems' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, BAE Systems' outside directors are responsible for providing unbiased perspectives on the board's policies.
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