Draganfly Correlations

DPRO Stock

USD 3.03 0.25 8.99%

The current 90-days correlation between Draganfly and Lilium NV is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Draganfly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Draganfly moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Draganfly Correlation With Market

Modest diversification

The correlation between Draganfly and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Draganfly 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 Draganfly. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Draganfly Stock

0.72	CW	Curtiss Wright	Pair Corr
0.72	EVEX	Eve Holding	Pair Corr
0.76	EVTL	Vertical Aerospace	Pair Corr
0.73	KWE	KWESST Micro Systems	Pair Corr
0.66	PKE	Park Electrochemical	Pair Corr
0.65	SIF	SIFCO Industries	Pair Corr
0.63	TXT	Textron	Pair Corr
0.63	HOVR	New Horizon Aircraft	Pair Corr

Moving against Draganfly Stock

0.84	ESLT	Elbit Systems Earnings Call This Week	Pair Corr
0.82	ERJ	Embraer SA ADR	Pair Corr
0.78	HWM	Howmet Aerospace	Pair Corr
0.75	GE	GE Aerospace	Pair Corr
0.7	EH	Ehang Holdings	Pair Corr
0.32	AIR	AAR Corp Earnings Call Today	Pair Corr
0.83	RTX	Raytheon Technologies	Pair Corr
0.76	TGI	Triumph Group	Pair Corr
0.73	TDG	Transdigm Group	Pair Corr
0.62	POWWP	Ammo Preferred	Pair Corr
0.54	MRCY	Mercury Systems	Pair Corr
0.52	SARO	StandardAero,	Pair Corr
0.49	WWD	Woodward	Pair Corr
0.34	KITTW	Nauticus Robotics	Pair Corr

Related Correlations Analysis

	LILM	ACHR	EVEX	EH	EVTL	RKLB	LLAP	KTOS	AXON
LILM		0.61	0.7	-0.5	0.63	0.67	0.0	0.3	0.31	LILM
ACHR	0.61		0.81	-0.24	0.58	0.78	0.0	0.08	0.43	ACHR
EVEX	0.7	0.81		-0.59	0.73	0.79	0.0	0.02	0.51	EVEX
EH	-0.5	-0.24	-0.59		-0.67	-0.43	0.0	-0.24	-0.32	EH
EVTL	0.63	0.58	0.73	-0.67		0.41	0.0	-0.1	0.2	EVTL
RKLB	0.67	0.78	0.79	-0.43	0.41		0.0	0.46	0.72	RKLB
LLAP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	LLAP
KTOS	0.3	0.08	0.02	-0.24	-0.1	0.46	0.0		0.35	KTOS
AXON	0.31	0.43	0.51	-0.32	0.2	0.72	0.0	0.35		AXON
	LILM	ACHR	EVEX	EH	EVTL	RKLB	LLAP	KTOS	AXON

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

EVEX	+ 0.81	ACHR
RKLB	+ 0.79	EVEX
RKLB	+ 0.78	ACHR
EVTL	+ 0.73	EVEX
AXON	+ 0.72	RKLB
EVEX	+ 0.7	LILM

High negative correlations

EVTL	- 0.67	EH
EH	- 0.59	EVEX
EH	- 0.5	LILM
RKLB	- 0.43	EH
AXON	- 0.32	EH
KTOS	- 0.24	EH

Risk-Adjusted Indicators

There is a big difference between Draganfly Stock performing well and Draganfly 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 Draganfly'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
LILM	18.82	3.04	0.17	(0.99)	16.38	(30.07)	40.00	(35.71)	318.04
ACHR	5.15	0.57	0.07	0.11	5.70	(6.17)	13.08	(9.87)	34.68
EVEX	3.83	(0.29)	0.00	(0.25)	0.00	0.00	6.80	(8.38)	20.12
EH	3.42	0.93	0.24	0.68	3.02	(3.85)	11.07	(6.26)	30.67
EVTL	6.69	(0.16)	0.00	(0.19)	0.00	0.00	20.75	(13.20)	74.49
RKLB	4.62	0.09	0.00	(0.06)	0.00	0.00	8.15	(8.94)	40.12
LLAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KTOS	2.44	0.33	0.12	0.27	2.66	(3.02)	5.42	(4.90)	15.36
AXON	2.40	(0.08)	0.00	(0.16)	0.00	0.00	5.43	(6.66)	23.46

Draganfly Corporate Management

CFA MBA	CFO Sec	Profile
Paul Mullen	Chief Officer	Profile
Deborah Greenberg	Corporate Legal	Profile
Justin Hannewyk	Pres Inc	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC