Honeywell International Correlations

HON Stock

USD 212.00 2.09 1.00%

The current 90-days correlation between Honeywell International and Brookfield Business Partners is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Honeywell International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Honeywell International moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Honeywell International Correlation With Market

Modest diversification

The correlation between Honeywell International and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Honeywell International and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Honeywell International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving together with Honeywell Stock

0.64	FIP	FTAI Infrastructure	Pair Corr
0.61	MPU	Mega Matrix Corp	Pair Corr
0.69	RUN	Sunrun Inc	Pair Corr
0.77	HYLN	Hyliion Holdings Corp	Pair Corr
0.74	PITA	Heramba Electric plc	Pair Corr
0.64	TOYO	TOYO Co,	Pair Corr

Moving against Honeywell Stock

0.59	NXT	Nextracker Class A	Pair Corr
0.53	ARRY	Array Technologies	Pair Corr
0.47	MMM	3M Company	Pair Corr
0.36	PLOW	Douglas Dynamics	Pair Corr
0.34	WPRT	Westport Fuel Systems	Pair Corr
0.74	G	Genpact Limited Sell-off Trend	Pair Corr
0.67	EH	Ehang Holdings	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.56	KC	Kingsoft Cloud Holdings	Pair Corr
0.53	MG	Mistras Group Earnings Call This Week	Pair Corr
0.47	LZ	LegalZoom	Pair Corr
0.4	CP	Canadian Pacific Railway	Pair Corr
0.37	BR	Broadridge Financial	Pair Corr
0.33	DE	Deere Company	Pair Corr

Related Correlations Analysis

	MDU	CODI	VMI	VRTV	BBU	GFF	MATW	SPLP
MDU		0.52	0.17	0.0	0.35	0.5	0.41	0.29	MDU
CODI	0.52		-0.19	0.0	0.36	0.2	0.47	0.48	CODI
VMI	0.17	-0.19		0.0	0.56	0.62	-0.15	-0.04	VMI
VRTV	0.0	0.0	0.0		0.0	0.0	0.0	0.0	VRTV
BBU	0.35	0.36	0.56	0.0		0.49	-0.18	0.52	BBU
GFF	0.5	0.2	0.62	0.0	0.49		0.14	0.1	GFF
MATW	0.41	0.47	-0.15	0.0	-0.18	0.14		0.04	MATW
SPLP	0.29	0.48	-0.04	0.0	0.52	0.1	0.04		SPLP
	MDU	CODI	VMI	VRTV	BBU	GFF	MATW	SPLP

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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

GFF	+ 0.62	VMI
BBU	+ 0.56	VMI
CODI	+ 0.52	MDU
SPLP	+ 0.52	BBU
GFF	+ 0.5	MDU
GFF	+ 0.49	BBU

High negative correlations

VMI	- 0.19	CODI
MATW	- 0.18	BBU
MATW	- 0.15	VMI
SPLP	- 0.04	VMI
SPLP	- 0.0	VRTV
MATW	- 0.0	VRTV

Risk-Adjusted Indicators

There is a big difference between Honeywell Stock performing well and Honeywell International 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 Honeywell International'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
MDU	1.09	(0.14)	0.00	(0.18)	0.00	0.00	2.33	(2.15)	9.29
CODI	1.06	(0.21)	0.00	(0.30)	0.00	0.00	1.76	(2.52)	7.13
VMI	1.34	0.05	0.03	0.07	1.54	(1.54)	2.36	(2.58)	21.33
VRTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBU	1.48	(0.05)	0.00	(0.04)	0.00	0.00	3.24	(3.07)	12.93
GFF	1.46	(0.04)	0.00	(0.21)	0.00	0.00	2.87	(2.52)	12.08
MATW	2.08	(0.28)	0.00	(0.25)	0.00	0.00	4.22	(5.82)	24.43
SPLP	1.78	(0.07)	0.00	1.13	0.00	0.00	6.27	(4.61)	22.18

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