CAE Correlations

CAE Stock

USD 24.52 0.17 0.70%

The current 90-days correlation between CAE Inc and AAR Corp is 0.12 (i.e., Average diversification). The correlation of CAE 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.

CAE Correlation With Market

Modest diversification

The correlation between CAE Inc and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CAE Inc 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 CAE Inc. 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.

Moving against CAE Stock

0.45	DRS	Leonardo DRS, Common	Pair Corr
0.31	GD	General Dynamics	Pair Corr
0.5	VVX	V2X Inc	Pair Corr
0.43	LHX	L3Harris Technologies	Pair Corr
0.37	NOC	Northrop Grumman	Pair Corr
0.36	SIF	SIFCO Industries	Pair Corr
0.35	TXT	Textron	Pair Corr
0.33	LMT	Lockheed Martin	Pair Corr
0.31	SVT	Servotronics Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AIR	CW	HXL	KAMN	MOG-A	MRCY	TGI	AJRD	DCO	PKE
AIR		0.29	0.5	0.0	0.28	0.28	0.02	0.0	0.67	0.31	AIR
CW	0.29		0.64	0.0	0.92	-0.37	-0.74	0.0	0.66	0.81	CW
HXL	0.5	0.64		0.0	0.56	-0.02	-0.39	0.0	0.81	0.69	HXL
KAMN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	KAMN
MOG-A	0.28	0.92	0.56	0.0		-0.34	-0.74	0.0	0.59	0.71	MOG-A
MRCY	0.28	-0.37	-0.02	0.0	-0.34		0.68	0.0	0.02	-0.36	MRCY
TGI	0.02	-0.74	-0.39	0.0	-0.74	0.68		0.0	-0.41	-0.59	TGI
AJRD	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	AJRD
DCO	0.67	0.66	0.81	0.0	0.59	0.02	-0.41	0.0		0.73	DCO
PKE	0.31	0.81	0.69	0.0	0.71	-0.36	-0.59	0.0	0.73		PKE
	AIR	CW	HXL	KAMN	MOG-A	MRCY	TGI	AJRD	DCO	PKE

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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
PKE	+ 0.81	CW
DCO	+ 0.81	HXL
PKE	+ 0.73	DCO
PKE	+ 0.71	MOG-A
PKE	+ 0.69	HXL

High negative correlations

TGI	- 0.74	MOG-A
TGI	- 0.74	CW
PKE	- 0.59	TGI
DCO	- 0.41	TGI
TGI	- 0.39	HXL
MRCY	- 0.37	CW

Risk-Adjusted Indicators

There is a big difference between CAE Stock performing well and CAE 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 CAE'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
AIR	1.31	0.06	0.06	0.00	1.87	(1.25)	2.30	(2.75)	12.14
CW	1.60	(0.10)	0.00	(0.21)	0.00	0.00	3.08	(4.36)	16.04
HXL	1.33	(0.02)	0.00	(0.13)	0.00	0.00	2.34	(3.25)	7.60
KAMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOG-A	1.63	(0.16)	0.00	(0.26)	0.00	0.00	2.35	(4.21)	11.03
MRCY	1.98	0.46	0.19	0.28	1.97	(2.24)	3.62	(3.77)	23.60
TGI	1.35	0.55	0.39	1.58	0.85	(1.60)	1.94	(1.50)	34.29
AJRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DCO	1.37	(0.04)	0.00	(0.20)	0.00	0.00	2.20	(3.88)	12.89
PKE	1.32	(0.06)	0.00	(0.18)	0.00	0.00	2.20	(2.98)	7.97

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