Hexcel Correlations

HXL Stock

USD 61.57 0.16 0.26%

The current 90-days correlation between Hexcel and Curtiss Wright is 0.14 (i.e., Average 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

Very weak diversification

The correlation between Hexcel and DJI is 0.57 (i.e., Very weak 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 goods.

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

Moving together with Hexcel Stock

0.91	BA	Boeing	Pair Corr
0.77	CW	Curtiss Wright	Pair Corr
0.93	GD	General Dynamics	Pair Corr
0.88	GE	GE Aerospace	Pair Corr
0.86	PL	Planet Labs PBC	Pair Corr
0.9	DPRO	Draganfly	Pair Corr
0.91	BA-PA	Boeing	Pair Corr
0.78	ESLT	Elbit Systems	Pair Corr
0.91	AIR	AAR Corp	Pair Corr
0.78	CAE	CAE Inc	Pair Corr
0.91	DCO	Ducommun Incorporated	Pair Corr
0.69	HEI	Heico Earnings Call This Week	Pair Corr
0.92	HII	Huntington Ingalls	Pair Corr
0.75	HWM	Howmet Aerospace	Pair Corr
0.88	LHX	L3Harris Technologies	Pair Corr
0.89	NOC	Northrop Grumman	Pair Corr
0.78	NPK	National Presto Indu	Pair Corr
0.89	PKE	Park Electrochemical	Pair Corr
0.9	RTX	Raytheon Technologies	Pair Corr
0.91	SIF	SIFCO Industries	Pair Corr
0.91	SPR	Spirit Aerosystems	Pair Corr
0.63	TXT	Textron	Pair Corr
0.84	WWD	Woodward	Pair Corr

Moving against Hexcel Stock

0.72	LMT	Lockheed Martin	Pair Corr
0.61	RGR	Sturm Ruger	Pair Corr
0.84	LOAR	Loar Holdings	Pair Corr
0.81	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.6	MNTS	Momentus	Pair Corr
0.53	RAINW	Rain Enhancement Tec	Pair Corr

Related Correlations Analysis

	CW	MRCY	AIR	DCO	MOG-A	HEI	TGI	WWD	SPR
CW		0.61	0.79	0.91	0.39	0.89	0.23	0.92	0.61	CW
MRCY	0.61		0.55	0.61	0.45	0.39	0.79	0.46	0.55	MRCY
AIR	0.79	0.55		0.9	0.56	0.75	0.27	0.88	0.87	AIR
DCO	0.91	0.61	0.9		0.54	0.85	0.3	0.94	0.78	DCO
MOG-A	0.39	0.45	0.56	0.54		0.27	0.31	0.44	0.67	MOG-A
HEI	0.89	0.39	0.75	0.85	0.27		0.02	0.93	0.55	HEI
TGI	0.23	0.79	0.27	0.3	0.31	0.02		0.09	0.35	TGI
WWD	0.92	0.46	0.88	0.94	0.44	0.93	0.09		0.71	WWD
SPR	0.61	0.55	0.87	0.78	0.67	0.55	0.35	0.71		SPR
	CW	MRCY	AIR	DCO	MOG-A	HEI	TGI	WWD	SPR

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
CW	1.15	0.27	0.12	0.63	1.56	(1.21)	3.07	(1.93)	11.28
MRCY	2.00	0.55	0.22	0.55	1.91	(2.20)	3.99	(3.40)	29.23
AIR	1.47	0.23	0.16	0.27	1.38	(1.73)	3.46	(2.30)	17.34
DCO	1.18	0.43	0.26	0.67	0.94	(1.30)	3.21	(1.69)	7.26
MOG-A	1.33	(0.01)	0.00	0.09	1.52	(1.38)	3.53	(2.54)	7.58
HEI	1.13	0.16	0.06	0.38	1.62	(1.16)	2.17	(1.94)	14.63
TGI	27.01	11.33	15.43	0.53	0.00	(26.88)	0.51	(0.27)	909.01
WWD	1.14	0.21	0.13	0.38	1.20	(1.27)	2.42	(2.27)	9.10
SPR	0.87	0.06	0.04	0.18	1.00	(0.96)	2.09	(1.62)	7.37

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