Ducommun Incorporated Correlations

DCO Stock

USD 59.33 0.50 0.85%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ducommun Incorporated moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ducommun Incorporated moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ducommun Incorporated Correlation With Market

Modest diversification

The correlation between Ducommun Incorporated and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ducommun Incorporated and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in Ducommun Stock, please use our How to Invest in Ducommun Incorporated guide.

Moving together with Ducommun Stock

0.73	CW	Curtiss Wright	Pair Corr
0.65	VTSI	VirTra Inc Earnings Call This Week	Pair Corr
0.91	CVU	CPI Aerostructures	Pair Corr
0.79	DRS	Leonardo DRS, Common	Pair Corr
0.83	HXL	Hexcel	Pair Corr
0.8	PKE	Park Electrochemical	Pair Corr
0.69	RDW	Redwire Corp	Pair Corr
0.75	SIF	SIFCO Industries	Pair Corr

Moving against Ducommun Stock

0.66	RGR	Sturm Ruger	Pair Corr
0.57	HEI	Heico	Pair Corr
0.56	ERJ	Embraer SA ADR	Pair Corr
0.55	EH	Ehang Holdings	Pair Corr
0.41	ESLT	Elbit Systems Earnings Call Today	Pair Corr
0.36	SATLW	Satellogic Warrant	Pair Corr
0.48	TGI	Triumph Group Sell-off Trend	Pair Corr
0.41	SARO	StandardAero,	Pair Corr

Related Correlations Analysis

	ISSC	KAMN	NPK	ATRO	PKE	VSEC	WWD	HXL	MRCY	AIR
ISSC		0.0	0.42	-0.52	0.76	-0.42	0.48	0.78	0.06	0.52	ISSC
KAMN	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	KAMN
NPK	0.42	0.0		-0.49	0.33	-0.47	0.4	0.69	0.03	0.02	NPK
ATRO	-0.52	0.0	-0.49		-0.7	0.81	0.22	-0.77	0.54	0.16	ATRO
PKE	0.76	0.0	0.33	-0.7		-0.42	0.11	0.75	-0.32	0.24	PKE
VSEC	-0.42	0.0	-0.47	0.81	-0.42		0.19	-0.6	0.31	0.21	VSEC
WWD	0.48	0.0	0.4	0.22	0.11	0.19		0.37	0.62	0.73	WWD
HXL	0.78	0.0	0.69	-0.77	0.75	-0.6	0.37		-0.2	0.33	HXL
MRCY	0.06	0.0	0.03	0.54	-0.32	0.31	0.62	-0.2		0.41	MRCY
AIR	0.52	0.0	0.02	0.16	0.24	0.21	0.73	0.33	0.41		AIR
	ISSC	KAMN	NPK	ATRO	PKE	VSEC	WWD	HXL	MRCY	AIR

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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

VSEC	+ 0.81	ATRO
HXL	+ 0.78	ISSC
PKE	+ 0.76	ISSC
HXL	+ 0.75	PKE
AIR	+ 0.73	WWD
HXL	+ 0.69	NPK

High negative correlations

HXL	- 0.77	ATRO
PKE	- 0.7	ATRO
HXL	- 0.6	VSEC
ATRO	- 0.52	ISSC
ATRO	- 0.49	NPK
VSEC	- 0.47	NPK

Risk-Adjusted Indicators

There is a big difference between Ducommun Stock performing well and Ducommun Incorporated 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 Ducommun Incorporated'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
ISSC	2.85	(0.04)	0.00	(0.10)	0.00	0.00	5.14	(5.85)	32.27
KAMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NPK	1.15	0.01	0.00	(0.06)	0.00	0.00	1.78	(2.41)	9.22
ATRO	1.71	0.77	0.63	0.86	0.58	(2.32)	3.86	(1.65)	26.52
PKE	1.33	(0.04)	0.00	(0.12)	0.00	0.00	2.27	(2.98)	7.97
VSEC	1.98	0.24	0.09	0.39	2.70	(1.96)	4.50	(5.29)	21.51
WWD	1.29	0.15	0.10	0.11	1.51	(1.35)	2.58	(2.76)	6.26
HXL	1.36	(0.12)	0.00	(0.17)	0.00	0.00	2.34	(3.25)	7.60
MRCY	1.96	0.39	0.16	0.27	1.99	(2.20)	3.62	(3.77)	23.60
AIR	1.21	0.15	0.11	0.20	1.43	(1.23)	2.30	(2.75)	12.14

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