BWX Technologies Correlations

BWXT Stock

USD 99.38 1.01 1.01%

The current 90-days correlation between BWX Technologies and Hexcel is -0.03 (i.e., Good diversification). The correlation of BWX Technologies 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.

BWX Technologies Correlation With Market

Good diversification

The correlation between BWX Technologies and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BWX Technologies 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 BWX Technologies. 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.

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

Moving together with BWX Stock

0.89	CW	Curtiss Wright	Pair Corr
0.82	VTSI	VirTra Inc	Pair Corr
0.62	EVEX	Eve Holding	Pair Corr
0.7	CVU	CPI Aerostructures	Pair Corr
0.76	DCO	Ducommun Incorporated	Pair Corr
0.75	DRS	Leonardo DRS, Common	Pair Corr
0.8	HXL	Hexcel	Pair Corr
0.83	PKE	Park Electrochemical	Pair Corr
0.8	SIF	SIFCO Industries	Pair Corr
0.78	TXT	Textron	Pair Corr
0.66	VVX	V2X Inc	Pair Corr

Moving against BWX Stock

0.73	EH	Ehang Holdings	Pair Corr
0.63	ESLT	Elbit Systems Earnings Call This Week	Pair Corr
0.45	VSEC	VSE Corporation	Pair Corr
0.42	GE	GE Aerospace	Pair Corr
0.4	SATLW	Satellogic Warrant	Pair Corr
0.72	RGR	Sturm Ruger	Pair Corr
0.71	ERJ	Embraer SA ADR	Pair Corr
0.54	RTX	Raytheon Technologies	Pair Corr
0.38	HWM	Howmet Aerospace	Pair Corr
0.33	TDG	Transdigm Group	Pair Corr
0.73	TGI	Triumph Group Sell-off Trend	Pair Corr

Related Correlations Analysis

	HXL	DCO	MRCY	WWD	AIR	CW	KAMN	VVX	MOG-A
HXL		0.82	-0.18	0.39	0.36	0.68	0.0	0.3	0.64	HXL
DCO	0.82		-0.09	0.4	0.6	0.72	0.0	0.51	0.67	DCO
MRCY	-0.18	-0.09		0.62	0.41	-0.32	0.0	-0.35	-0.27	MRCY
WWD	0.39	0.4	0.62		0.73	-0.04	0.0	-0.01	-0.09	WWD
AIR	0.36	0.6	0.41	0.73		0.23	0.0	0.32	0.2	AIR
CW	0.68	0.72	-0.32	-0.04	0.23		0.0	0.63	0.92	CW
KAMN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	KAMN
VVX	0.3	0.51	-0.35	-0.01	0.32	0.63	0.0		0.48	VVX
MOG-A	0.64	0.67	-0.27	-0.09	0.2	0.92	0.0	0.48		MOG-A
	HXL	DCO	MRCY	WWD	AIR	CW	KAMN	VVX	MOG-A

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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

MOG-A	+ 0.92	CW
DCO	+ 0.82	HXL
AIR	+ 0.73	WWD
CW	+ 0.72	DCO
CW	+ 0.68	HXL
MOG-A	+ 0.67	DCO

High negative correlations

VVX	- 0.35	MRCY
CW	- 0.32	MRCY
MOG-A	- 0.27	MRCY
MRCY	- 0.18	HXL
MOG-A	- 0.09	WWD
MRCY	- 0.09	DCO

Risk-Adjusted Indicators

There is a big difference between BWX Stock performing well and BWX Technologies 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 BWX Technologies' 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
HXL	1.34	(0.09)	0.00	(0.15)	0.00	0.00	2.34	(3.25)	7.60
DCO	1.15	(0.06)	0.00	(0.21)	0.00	0.00	2.09	(2.77)	10.87
MRCY	1.95	0.40	0.17	0.27	1.98	(2.20)	3.62	(3.77)	23.60
WWD	1.29	0.15	0.10	0.10	1.51	(1.35)	2.58	(2.76)	6.26
AIR	1.23	0.14	0.11	0.17	1.41	(1.26)	2.30	(2.75)	12.14
CW	1.61	(0.07)	0.00	(0.14)	0.00	0.00	3.08	(4.36)	16.04
KAMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VVX	1.94	(0.18)	0.00	1.21	0.00	0.00	4.21	(3.36)	18.68
MOG-A	1.57	(0.15)	0.00	(0.22)	0.00	0.00	2.35	(4.21)	11.03

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