Virgin Galactic Correlations

SPCE Stock

USD 3.64 0.05 1.39%

The current 90-days correlation between Virgin Galactic Holdings and Ammo Inc is 0.13 (i.e., Average diversification). The correlation of Virgin Galactic 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.

Virgin Galactic Correlation With Market

Modest diversification

The correlation between Virgin Galactic Holdings and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virgin Galactic Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Virgin Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Virgin Galactic 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 interest.

Moving together with Virgin Stock

0.74	GD	General Dynamics	Pair Corr
0.79	LHX	L3Harris Technologies	Pair Corr
0.87	LMT	Lockheed Martin	Pair Corr
0.65	NOC	Northrop Grumman	Pair Corr
0.75	PSN	Parsons Corp	Pair Corr
0.65	DATAPATTNS	Data Patterns Limited	Pair Corr
0.68	002338	Changchun UP Optotech	Pair Corr
0.81	IONQ	IONQ Inc	Pair Corr
0.76	SSLLF	Siltronic AG	Pair Corr
0.8	NEE	Nextera Energy Aggressive Push	Pair Corr
0.91	CLSK	CleanSpark	Pair Corr
0.75	CVI	CVR Energy	Pair Corr
0.92	NB	NioCorp Developments	Pair Corr
0.78	TSLA	Tesla Inc	Pair Corr
0.82	DRDGF	Drdgold	Pair Corr
0.61	INVX	Innovex International,	Pair Corr

Moving against Virgin Stock

0.65	600685	CSSC Offshore Marine	Pair Corr
0.51	BA	Boeing	Pair Corr
0.46	COHG	Cheetah Oil Gas	Pair Corr
0.46	MPXOF	MPX International Corp	Pair Corr
0.41	FUTU	Futu Holdings Earnings Call This Week	Pair Corr
0.39	TCI	Transcontinental Realty	Pair Corr

Related Correlations Analysis

	POWW	NVX	VWAV	PAMT	PAL	FC	ISSC	FCEL	SHMD	ALTG
POWW		0.16	0.69	-0.67	-0.28	-0.67	-0.81	0.48	0.7	-0.72	POWW
NVX	0.16		0.25	-0.4	-0.58	-0.24	-0.08	0.56	0.09	-0.34	NVX
VWAV	0.69	0.25		-0.47	-0.24	-0.45	-0.74	0.36	0.55	-0.57	VWAV
PAMT	-0.67	-0.4	-0.47		0.54	0.77	0.67	-0.6	-0.68	0.81	PAMT
PAL	-0.28	-0.58	-0.24	0.54		0.43	0.24	-0.79	-0.3	0.65	PAL
FC	-0.67	-0.24	-0.45	0.77	0.43		0.57	-0.37	-0.78	0.82	FC
ISSC	-0.81	-0.08	-0.74	0.67	0.24	0.57		-0.47	-0.58	0.66	ISSC
FCEL	0.48	0.56	0.36	-0.6	-0.79	-0.37	-0.47		0.35	-0.69	FCEL
SHMD	0.7	0.09	0.55	-0.68	-0.3	-0.78	-0.58	0.35		-0.81	SHMD
ALTG	-0.72	-0.34	-0.57	0.81	0.65	0.82	0.66	-0.69	-0.81		ALTG
	POWW	NVX	VWAV	PAMT	PAL	FC	ISSC	FCEL	SHMD	ALTG

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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

ALTG	+ 0.82	FC
ALTG	+ 0.81	PAMT
FC	+ 0.77	PAMT
SHMD	+ 0.7	POWW
VWAV	+ 0.69	POWW
ISSC	+ 0.67	PAMT

High negative correlations

ALTG	- 0.81	SHMD
ISSC	- 0.81	POWW
FCEL	- 0.79	PAL
SHMD	- 0.78	FC
ISSC	- 0.74	VWAV
ALTG	- 0.72	POWW

Risk-Adjusted Indicators

There is a big difference between Virgin Stock performing well and Virgin Galactic 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 Virgin Galactic'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
POWW	2.55	0.43	0.18	0.29	2.54	(3.14)	6.13	(5.00)	15.40
NVX	5.84	0.25	0.01	(0.20)	5.96	(9.34)	13.89	(10.75)	56.77
VWAV	6.44	1.26	0.19	1.80	6.14	(7.95)	15.23	(10.78)	37.69
PAMT	2.31	(0.30)	0.00	(0.14)	0.00	0.00	5.51	(5.35)	12.87
PAL	3.13	(0.13)	0.03	0.08	3.57	(3.47)	6.12	(5.83)	33.02
FC	2.37	(0.59)	0.00	(0.08)	0.00	0.00	4.48	(5.20)	15.77
ISSC	3.09	(1.28)	0.00	(0.38)	0.00	0.00	5.21	(5.84)	36.77
FCEL	5.59	0.58	0.18	0.25	4.74	(6.57)	14.83	(9.07)	35.91
SHMD	5.16	1.31	0.28	1.62	4.01	(6.81)	17.90	(8.71)	37.05
ALTG	2.72	(0.81)	0.00	(0.45)	0.00	0.00	5.36	(5.19)	20.86

Virgin Galactic Corporate Management

Seth Zaslow	Vice President - Investor Relations	Profile
Aleanna Crane	Vice Communications	Profile
David Mackay	Chief Pilot	Profile
Swami Iyer	President - Aerospace Systems	Profile

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