General Dynamics Correlations

GDBR34 Stock

BRL 1,467 19.43 1.34%

The current 90-days correlation between General Dynamics and Ameriprise Financial is 0.1 (i.e., Average diversification). The correlation of General Dynamics 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.

General Dynamics Correlation With Market

Significant diversification

The correlation between General Dynamics and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding General Dynamics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to General Dynamics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace General Dynamics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back General Dynamics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling General Dynamics to buy it.

Moving together with General Stock

0.7	NOCG34	Northrop Grumman	Pair Corr
0.7	H1II34	Huntington Ingalls	Pair Corr
0.62	TMCO34	Toyota Motor	Pair Corr

Moving against General Stock

0.72	T1MU34	T Mobile	Pair Corr
0.71	NMRH34	Nomura Holdings	Pair Corr
0.69	AURA33	Aura Minerals	Pair Corr
0.58	B1SA34	Banco Santander Chile	Pair Corr
0.57	SHUL4	Schulz SA	Pair Corr
0.47	SNEC34	Sony Group	Pair Corr
0.47	T1TW34	Take Two Interactive	Pair Corr
0.38	JPMC34	JPMorgan Chase	Pair Corr
0.33	RPMG3	Refinaria de Petrleos	Pair Corr

Related Correlations Analysis

	BOAC34	S1IV34	A1MP34	RSUL4	M1UF34	L2PL34	H1DB34
BOAC34		0.0	0.68	-0.68	-0.38	-0.49	0.51	BOAC34
S1IV34	0.0		0.0	0.0	0.0	0.0	0.0	S1IV34
A1MP34	0.68	0.0		-0.79	-0.2	-0.55	0.79	A1MP34
RSUL4	-0.68	0.0	-0.79		0.29	0.48	-0.67	RSUL4
M1UF34	-0.38	0.0	-0.2	0.29		0.53	-0.31	M1UF34
L2PL34	-0.49	0.0	-0.55	0.48	0.53		-0.74	L2PL34
H1DB34	0.51	0.0	0.79	-0.67	-0.31	-0.74		H1DB34
	BOAC34	S1IV34	A1MP34	RSUL4	M1UF34	L2PL34	H1DB34

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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

H1DB34	+ 0.79	A1MP34
A1MP34	+ 0.68	BOAC34
L2PL34	+ 0.53	M1UF34
H1DB34	+ 0.51	BOAC34
L2PL34	+ 0.48	RSUL4
M1UF34	+ 0.29	RSUL4

High negative correlations

RSUL4	- 0.79	A1MP34
H1DB34	- 0.74	L2PL34
RSUL4	- 0.68	BOAC34
H1DB34	- 0.67	RSUL4
L2PL34	- 0.55	A1MP34
L2PL34	- 0.49	BOAC34

Risk-Adjusted Indicators

There is a big difference between General Stock performing well and General Dynamics 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 General Dynamics' 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
BOAC34	1.12	0.00	0.01	(0.02)	1.54	(1.00)	2.02	(2.19)	6.58
S1IV34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
A1MP34	1.09	(0.06)	0.00	(0.33)	0.00	0.00	2.30	(2.85)	6.79
RSUL4	1.00	0.21	0.12	0.34	1.12	(1.35)	2.97	(2.66)	8.42
M1UF34	1.39	0.15	0.07	0.93	1.69	(2.45)	4.13	(3.29)	12.23
L2PL34	1.06	0.19	0.13	(2.65)	1.30	(1.16)	2.21	(2.08)	9.27
H1DB34	0.75	(0.02)	0.00	(0.04)	0.00	0.00	2.16	(2.66)	10.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in General Dynamics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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