Northrop Grumman Correlations

NOC Stock

USD 569.76 9.72 1.74%

The current 90-days correlation between Northrop Grumman and General Dynamics is 0.51 (i.e., Very weak diversification). The correlation of Northrop Grumman 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.

Northrop Grumman Correlation With Market

Average diversification

The correlation between Northrop Grumman and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northrop Grumman and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Northrop Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northrop Grumman. 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 information on how to trade Northrop Stock refer to our How to Trade Northrop Stock guide.

Moving together with Northrop Stock

0.69	BA	Boeing	Pair Corr
0.79	RDW	Redwire Corp	Pair Corr
0.76	002338	Changchun UP Optotech	Pair Corr
0.78	AVAV	AeroVironment	Pair Corr
0.65	AXON	Axon Enterprise	Pair Corr
0.63	CHHE	China Health Industries	Pair Corr
0.68	NUKK	Nukkleus	Pair Corr

Moving against Northrop Stock

0.76	IRNRF	Iron Road Limited	Pair Corr
0.61	GSTX	Graphene Solar Techn	Pair Corr
0.51	BBD-B	Bombardier	Pair Corr
0.48	600685	CSSC Offshore Marine	Pair Corr
0.36	RTX	Raytheon Technologies	Pair Corr
0.8	ZEUS	Olympic Steel	Pair Corr
0.73	FYBR	Frontier Communications	Pair Corr
0.72	SLB	Schlumberger NV Aggressive Push	Pair Corr
0.68	JEXYY	Jiangsu Expressway	Pair Corr
0.55	TRUE	TrueCar	Pair Corr
0.5	NWWCF	New China Life Normal Trading	Pair Corr
0.44	PHJMF	PT Hanjaya Mandala	Pair Corr
0.42	LZB	La Z Boy	Pair Corr
0.4	PCOR	Procore Technologies	Pair Corr
0.38	NVA	Nova Minerals Limited	Pair Corr
0.33	NGMC	Next Generation Mana	Pair Corr
0.75	EDEYF	Eden Innovations	Pair Corr
0.73	JKHY	Jack Henry Associates	Pair Corr
0.64	BK	Bank of New York	Pair Corr
0.54	FIX	Comfort Systems USA	Pair Corr
0.47	NOEM	CO2 Energy Transition	Pair Corr
0.45	USB	US Bancorp Aggressive Push	Pair Corr

Related Correlations Analysis

	GD	TDG	UPS	LHX	LMT	EMR	MMM	WM	HWM	ITW
GD		0.38	0.53	0.41	-0.06	0.12	0.58	-0.49	0.69	-0.59	GD
TDG	0.38		0.54	-0.32	-0.49	0.1	0.74	0.04	0.39	-0.32	TDG
UPS	0.53	0.54		-0.35	-0.62	0.36	0.84	-0.53	0.63	-0.54	UPS
LHX	0.41	-0.32	-0.35		0.67	-0.11	-0.35	-0.02	0.03	0.09	LHX
LMT	-0.06	-0.49	-0.62	0.67		-0.02	-0.71	0.27	-0.43	0.28	LMT
EMR	0.12	0.1	0.36	-0.11	-0.02		0.26	-0.24	0.05	0.19	EMR
MMM	0.58	0.74	0.84	-0.35	-0.71	0.26		-0.38	0.67	-0.43	MMM
WM	-0.49	0.04	-0.53	-0.02	0.27	-0.24	-0.38		-0.72	0.62	WM
HWM	0.69	0.39	0.63	0.03	-0.43	0.05	0.67	-0.72		-0.64	HWM
ITW	-0.59	-0.32	-0.54	0.09	0.28	0.19	-0.43	0.62	-0.64		ITW
	GD	TDG	UPS	LHX	LMT	EMR	MMM	WM	HWM	ITW

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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

MMM	+ 0.84	UPS
MMM	+ 0.74	TDG
HWM	+ 0.69	GD
LMT	+ 0.67	LHX
HWM	+ 0.67	MMM
HWM	+ 0.63	UPS

High negative correlations

HWM	- 0.72	WM
MMM	- 0.71	LMT
ITW	- 0.64	HWM
LMT	- 0.62	UPS
ITW	- 0.59	GD
ITW	- 0.54	UPS

Risk-Adjusted Indicators

There is a big difference between Northrop Stock performing well and Northrop Grumman 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 Northrop Grumman'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
GD	0.81	(0.02)	(0.03)	0.04	1.01	(0.84)	1.82	(1.54)	5.42
TDG	1.01	(0.03)	(0.04)	0.00	1.47	(0.96)	2.11	(1.73)	7.93
UPS	1.22	0.23	0.15	0.30	1.22	(1.31)	2.75	(2.42)	11.51
LHX	1.22	(0.02)	(0.02)	0.05	1.50	(1.31)	2.36	(2.30)	7.10
LMT	0.88	0.03	(0.02)	0.28	1.30	(0.85)	1.93	(2.25)	5.52
EMR	1.26	(0.10)	(0.03)	0.00	1.96	(1.07)	2.25	(3.47)	6.20
MMM	1.12	0.02	0.02	0.09	1.28	(1.16)	2.11	(2.10)	10.25
WM	0.91	(0.03)	0.00	(0.45)	0.00	0.00	1.99	(2.03)	5.78
HWM	1.27	0.05	0.03	0.13	1.36	(1.40)	2.42	(2.51)	7.50
ITW	0.80	(0.09)	0.00	(0.06)	0.00	0.00	1.89	(1.63)	6.43

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