Eve Holding Correlations

EVEX Stock

USD 3.38 0.28 9.03%

The current 90-days correlation between Eve Holding and Ehang Holdings is 0.26 (i.e., Modest diversification). The correlation of Eve Holding 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.

Eve Holding Correlation With Market

Good diversification

The correlation between Eve Holding and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eve Holding 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 Eve Holding. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

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

Moving together with Eve Stock

0.66	CW	Curtiss Wright	Pair Corr
0.8	DPRO	Draganfly Earnings Call This Week	Pair Corr
0.87	MNTS	Momentus Buyout Trend	Pair Corr
0.88	VTSI	VirTra Inc	Pair Corr
0.73	EVTL	Vertical Aerospace	Pair Corr
0.82	OPXS	Optex Systems Holdings,	Pair Corr
0.78	KWE	KWESST Micro Systems	Pair Corr
0.77	SIF	SIFCO Industries	Pair Corr

Moving against Eve Stock

0.88	ESLT	Elbit Systems Earnings Call This Week	Pair Corr
0.87	ERJ	Embraer SA ADR	Pair Corr
0.8	VSEC	VSE Corporation	Pair Corr
0.65	EH	Ehang Holdings	Pair Corr
0.61	HEI	Heico	Pair Corr
0.56	HWM	Howmet Aerospace	Pair Corr
0.53	POWWP	Ammo Preferred	Pair Corr
0.42	MRCY	Mercury Systems	Pair Corr
0.86	RGR	Sturm Ruger	Pair Corr
0.76	RTX	Raytheon Technologies	Pair Corr
0.71	TGI	Triumph Group	Pair Corr
0.69	SARO	StandardAero,	Pair Corr
0.58	TDG	Transdigm Group	Pair Corr

Related Correlations Analysis

	HEI	MRCY	AVAV	HWM	LILM	ACHR	EH	DPRO	RYCEY	RYCEF
HEI		0.18	-0.66	0.15	-0.61	-0.56	0.25	-0.47	0.84	0.84	HEI
MRCY	0.18		-0.16	0.48	-0.24	-0.18	0.5	-0.35	0.41	0.4	MRCY
AVAV	-0.66	-0.16		-0.12	0.58	0.58	-0.55	0.46	-0.85	-0.84	AVAV
HWM	0.15	0.48	-0.12		-0.35	-0.35	0.75	-0.73	0.42	0.43	HWM
LILM	-0.61	-0.24	0.58	-0.35		0.63	-0.54	0.5	-0.69	-0.69	LILM
ACHR	-0.56	-0.18	0.58	-0.35	0.63		-0.39	0.77	-0.66	-0.65	ACHR
EH	0.25	0.5	-0.55	0.75	-0.54	-0.39		-0.64	0.65	0.65	EH
DPRO	-0.47	-0.35	0.46	-0.73	0.5	0.77	-0.64		-0.68	-0.69	DPRO
RYCEY	0.84	0.41	-0.85	0.42	-0.69	-0.66	0.65	-0.68		1.0	RYCEY
RYCEF	0.84	0.4	-0.84	0.43	-0.69	-0.65	0.65	-0.69	1.0		RYCEF
	HEI	MRCY	AVAV	HWM	LILM	ACHR	EH	DPRO	RYCEY	RYCEF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RYCEF	+ 1.0	RYCEY
RYCEY	+ 0.84	HEI
RYCEF	+ 0.84	HEI
DPRO	+ 0.77	ACHR
EH	+ 0.75	HWM
RYCEY	+ 0.65	EH

High negative correlations

RYCEY	- 0.85	AVAV
RYCEF	- 0.84	AVAV
DPRO	- 0.73	HWM
RYCEF	- 0.69	DPRO
RYCEF	- 0.69	LILM
RYCEY	- 0.69	LILM

Risk-Adjusted Indicators

There is a big difference between Eve Stock performing well and Eve Holding 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 Eve Holding'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
HEI	1.21	0.16	0.19	(0.68)	1.17	(1.48)	2.01	(2.08)	16.20
MRCY	1.93	0.26	0.16	(0.68)	1.98	(2.22)	3.22	(3.77)	23.60
AVAV	1.94	(0.43)	0.00	3.02	0.00	0.00	4.40	(4.38)	14.38
HWM	1.63	0.29	0.17	(1.16)	2.08	(1.89)	3.05	(4.03)	10.39
LILM	18.89	4.33	0.23	1.79	14.48	(30.17)	57.14	(35.71)	318.04
ACHR	4.80	0.00	0.01	(0.07)	5.90	(5.54)	12.12	(9.87)	34.68
EH	3.45	0.91	0.27	7.78	2.88	(4.01)	11.07	(5.78)	30.67
DPRO	5.55	(0.32)	0.00	(1.87)	0.00	0.00	8.99	(10.55)	37.22
RYCEY	1.85	0.67	0.31	(2.01)	1.85	(2.21)	4.75	(2.68)	24.02
RYCEF	1.95	0.64	0.28	(1.40)	2.14	(2.55)	3.48	(2.61)	24.83

Eve Holding Corporate Management

Flavia Pavie	G Officer	Profile
Alice Altissimo	Vice Operation	Profile
Larissa Maraccini	Marketing, People	Profile
Luiz Valentini	Chief Officer	Profile
Lucio Aldworth	Director Relations	Profile
Eduardo Couto	Chief Officer	Profile
Andre Stein	CoChief Officer	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