Leidos Holdings Correlations

LDOS Stock

USD 186.63 0.31 0.17%

The current 90-days correlation between Leidos Holdings and Wipro Limited ADR is 0.13 (i.e., Average 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

Very weak diversification

The correlation between Leidos Holdings and DJI is 0.41 (i.e., Very 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 metropolitan statistical area.

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

Moving against Leidos Stock

0.31	301218	Zhejiang Whyis Technology	Pair Corr
0.51	WIT	Wipro Limited ADR	Pair Corr
0.51	HPAI	Helport AI Limited	Pair Corr
0.38	INFY	Infosys Ltd ADR	Pair Corr
0.37	HCKT	Hackett Group	Pair Corr
0.33	SPA	1Spatial PLC	Pair Corr

Related Correlations Analysis

	WIT	BR	CDW	GIB	IT	TDY	HPQ	NTAP	FLEX	ZM
WIT		0.1	-0.3	0.71	0.04	-0.27	-0.34	-0.06	0.43	0.66	WIT
BR	0.1		0.57	0.53	0.61	0.72	0.38	0.57	-0.35	-0.18	BR
CDW	-0.3	0.57		0.11	0.76	0.74	0.82	0.79	-0.05	-0.14	CDW
GIB	0.71	0.53	0.11		0.39	0.21	-0.06	0.3	0.1	0.45	GIB
IT	0.04	0.61	0.76	0.39		0.66	0.55	0.56	-0.13	0.02	IT
TDY	-0.27	0.72	0.74	0.21	0.66		0.69	0.78	-0.24	-0.4	TDY
HPQ	-0.34	0.38	0.82	-0.06	0.55	0.69		0.85	0.11	-0.26	HPQ
NTAP	-0.06	0.57	0.79	0.3	0.56	0.78	0.85		0.15	-0.06	NTAP
FLEX	0.43	-0.35	-0.05	0.1	-0.13	-0.24	0.11	0.15		0.61	FLEX
ZM	0.66	-0.18	-0.14	0.45	0.02	-0.4	-0.26	-0.06	0.61		ZM
	WIT	BR	CDW	GIB	IT	TDY	HPQ	NTAP	FLEX	ZM

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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

NTAP	+ 0.85	HPQ
HPQ	+ 0.82	CDW
NTAP	+ 0.79	CDW
NTAP	+ 0.78	TDY
IT	+ 0.76	CDW
TDY	+ 0.74	CDW

High negative correlations

ZM	- 0.4	TDY
FLEX	- 0.35	BR
HPQ	- 0.34	WIT
CDW	- 0.3	WIT
TDY	- 0.27	WIT
ZM	- 0.26	HPQ

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
WIT	1.05	0.07	0.03	0.21	1.01	(1.44)	1.94	(2.08)	8.30
BR	0.75	(0.12)	0.00	(0.21)	0.00	0.00	1.15	(1.92)	5.47
CDW	1.41	(0.34)	0.00	(0.15)	0.00	0.00	2.61	(3.29)	13.22
GIB	0.98	(0.04)	(0.03)	0.00	1.80	(0.86)	1.62	(2.83)	10.29
IT	1.48	(0.11)	0.00	(0.03)	0.00	0.00	4.38	(4.35)	15.43
TDY	1.10	(0.20)	0.00	(0.13)	0.00	0.00	1.75	(1.97)	7.20
HPQ	1.73	(0.38)	0.00	(0.16)	0.00	0.00	3.11	(4.01)	13.82
NTAP	1.38	(0.26)	0.00	(0.14)	0.00	0.00	3.17	(2.85)	8.54
FLEX	2.26	0.04	0.03	0.08	2.78	(2.22)	5.23	(4.33)	13.21
ZM	1.37	0.00	0.01	0.06	1.73	(1.34)	2.49	(2.84)	13.18

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