AeroVironment Correlations

AVAV Stock

USD 125.10 0.00 0.00%

The correlation of AeroVironment 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.

AeroVironment Correlation With Market

Modest diversification

The correlation between AeroVironment and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AeroVironment and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AeroVironment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

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

Moving together with AeroVironment Stock

0.7	BA	Boeing	Pair Corr
0.68	CW	Curtiss Wright	Pair Corr
0.67	BA-PA	Boeing	Pair Corr
0.69	VTSI	VirTra Inc	Pair Corr
0.68	EVEX	Eve Holding	Pair Corr
0.82	CVU	CPI Aerostructures	Pair Corr
0.86	DCO	Ducommun Incorporated	Pair Corr
0.89	HXL	Hexcel	Pair Corr
0.78	PKE	Park Electrochemical	Pair Corr
0.76	RDW	Redwire Corp	Pair Corr
0.82	SIF	SIFCO Industries	Pair Corr

Moving against AeroVironment Stock

0.59	ESLT	Elbit Systems Earnings Call This Week	Pair Corr
0.55	VSEC	VSE Corporation	Pair Corr
0.51	EH	Ehang Holdings Downward Rally	Pair Corr
0.74	RGR	Sturm Ruger	Pair Corr
0.68	ERJ	Embraer SA ADR	Pair Corr
0.58	HEI	Heico	Pair Corr
0.42	TGI	Triumph Group	Pair Corr

Related Correlations Analysis

	LHX	AJRD	MRCY	TXT	HEI-A	EVTL	RLLCF	ERJ	RKLB
LHX		0.0	-0.42	0.79	0.42	0.18	0.49	-0.08	-0.04	LHX
AJRD	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AJRD
MRCY	-0.42	0.0		-0.57	0.06	-0.36	-0.34	0.6	-0.09	MRCY
TXT	0.79	0.0	-0.57		-0.01	0.54	0.13	-0.56	0.36	TXT
HEI-A	0.42	0.0	0.06	-0.01		-0.4	0.66	0.68	-0.63	HEI-A
EVTL	0.18	0.0	-0.36	0.54	-0.4		-0.18	-0.71	0.42	EVTL
RLLCF	0.49	0.0	-0.34	0.13	0.66	-0.18		0.35	-0.64	RLLCF
ERJ	-0.08	0.0	0.6	-0.56	0.68	-0.71	0.35		-0.67	ERJ
RKLB	-0.04	0.0	-0.09	0.36	-0.63	0.42	-0.64	-0.67		RKLB
	LHX	AJRD	MRCY	TXT	HEI-A	EVTL	RLLCF	ERJ	RKLB

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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

TXT	+ 0.79	LHX
ERJ	+ 0.68	HEI-A
RLLCF	+ 0.66	HEI-A
ERJ	+ 0.6	MRCY
EVTL	+ 0.54	TXT
RLLCF	+ 0.49	LHX

High negative correlations

ERJ	- 0.71	EVTL
RKLB	- 0.67	ERJ
RKLB	- 0.64	RLLCF
RKLB	- 0.63	HEI-A
TXT	- 0.57	MRCY
ERJ	- 0.56	TXT

Risk-Adjusted Indicators

There is a big difference between AeroVironment Stock performing well and AeroVironment 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 AeroVironment'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
LHX	1.06	(0.08)	0.00	(0.33)	0.00	0.00	2.06	(2.53)	6.75
AJRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRCY	1.98	0.38	0.16	0.25	1.99	(2.26)	3.62	(3.77)	23.60
TXT	1.05	(0.09)	0.00	(0.19)	0.00	0.00	2.07	(2.51)	7.75
HEI-A	1.41	0.13	0.08	0.17	1.95	(1.55)	2.67	(2.31)	14.84
EVTL	6.74	(0.12)	0.00	(0.14)	0.00	0.00	20.75	(13.20)	74.49
RLLCF	3.59	0.01	0.01	(0.02)	4.54	(5.39)	10.34	(10.00)	22.93
ERJ	1.98	0.68	0.34	0.90	1.51	(2.28)	5.43	(3.57)	19.10
RKLB	4.66	0.07	0.00	(0.05)	0.00	0.00	8.15	(8.94)	40.12

AeroVironment Corporate Management

Brian CPA	Controller VP	Profile
Church Hutton	VP Relations	Profile
Shane Hastings	VP MUAS	Profile
Brett Hush	Senior Systems	Profile
Tim Faltemier	Head Business	Profile
Jonah TeeterBalin	Senior Relations	Profile
Jeff Rodrian	Senior Group	Profile

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