Leidos Holdings Correlations

LDOS Stock

USD 133.83 1.02 0.76%

The current 90-days correlation between Leidos Holdings and CACI International is 0.89 (i.e., Very poor diversification). The correlation of Leidos Holdings 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.

Leidos Holdings Correlation With Market

Average diversification

The correlation between Leidos Holdings and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leidos Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Leidos Holdings. 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.

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

Moving together with Leidos Stock

0.67	DMRC	Digimarc	Pair Corr
0.75	VEEA	Veea Inc Symbol Change	Pair Corr
0.64	DTST	Data Storage Corp Earnings Call This Week	Pair Corr
0.74	FIS	Fidelity National	Pair Corr
0.87	PSN	Parsons Corp	Pair Corr
0.65	UIS	Unisys	Pair Corr
0.66	VYX	NCR Voyix	Pair Corr
0.67	XRX	Xerox Corp	Pair Corr

Moving against Leidos Stock

0.83	VNET	VNET Group DRC Earnings Call This Week	Pair Corr
0.82	GDS	GDS Holdings Earnings Call This Week	Pair Corr
0.78	FI	Fiserv,	Pair Corr
0.76	G	Genpact Limited	Pair Corr
0.43	BR	Broadridge Financial	Pair Corr
0.79	IBEX	IBEX	Pair Corr
0.78	IBM	International Business	Pair Corr
0.63	WRD	WeRide American Depo	Pair Corr
0.61	WNS	WNS Holdings	Pair Corr
0.78	INOD	Innodata	Pair Corr
0.55	NYAX	Nayax	Pair Corr
0.53	AIFF	Firefly Neuroscience, Symbol Change	Pair Corr
0.44	AUROW	Aurora Innovation	Pair Corr

Related Correlations Analysis

	CACI	PSN	ASGN	EXLS	SAIC	CLVT	IT	CTSH	BR	CDW
CACI		0.81	0.77	-0.38	0.95	0.58	0.12	-0.76	-0.54	0.06	CACI
PSN	0.81		0.88	-0.31	0.75	0.8	0.34	-0.54	-0.49	0.21	PSN
ASGN	0.77	0.88		0.0	0.67	0.93	0.63	-0.42	-0.24	0.51	ASGN
EXLS	-0.38	-0.31	0.0		-0.42	0.16	0.68	0.76	0.83	0.79	EXLS
SAIC	0.95	0.75	0.67	-0.42		0.51	0.0	-0.73	-0.58	-0.02	SAIC
CLVT	0.58	0.8	0.93	0.16	0.51		0.7	-0.23	-0.08	0.64	CLVT
IT	0.12	0.34	0.63	0.68	0.0	0.7		0.34	0.48	0.89	IT
CTSH	-0.76	-0.54	-0.42	0.76	-0.73	-0.23	0.34		0.78	0.36	CTSH
BR	-0.54	-0.49	-0.24	0.83	-0.58	-0.08	0.48	0.78		0.49	BR
CDW	0.06	0.21	0.51	0.79	-0.02	0.64	0.89	0.36	0.49		CDW
	CACI	PSN	ASGN	EXLS	SAIC	CLVT	IT	CTSH	BR	CDW

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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

SAIC	+ 0.95	CACI
CLVT	+ 0.93	ASGN
CDW	+ 0.89	IT
ASGN	+ 0.88	PSN
BR	+ 0.83	EXLS
PSN	+ 0.81	CACI

High negative correlations

CTSH	- 0.76	CACI
CTSH	- 0.73	SAIC
BR	- 0.58	SAIC
CTSH	- 0.54	PSN
BR	- 0.54	CACI
BR	- 0.49	PSN

Risk-Adjusted Indicators

There is a big difference between Leidos Stock performing well and Leidos Holdings 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 Leidos Holdings' 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
CACI	1.86	(0.12)	0.00	(0.47)	0.00	0.00	3.69	(4.45)	13.03
PSN	1.77	(0.69)	0.00	(1.34)	0.00	0.00	2.54	(4.93)	13.43
ASGN	1.62	(0.40)	0.00	(0.55)	0.00	0.00	2.64	(4.79)	9.60
EXLS	1.14	0.09	0.05	0.01	1.66	(1.09)	2.09	(2.63)	10.29
SAIC	1.58	(0.06)	0.00	(0.30)	0.00	0.00	3.41	(4.77)	13.67
CLVT	1.83	(0.26)	0.00	(0.61)	0.00	0.00	3.51	(4.06)	15.50
IT	1.15	(0.24)	0.00	(0.32)	0.00	0.00	1.90	(3.01)	5.12
CTSH	0.96	(0.02)	0.00	(0.11)	0.00	0.00	1.70	(3.08)	7.78
BR	0.87	0.05	0.05	(0.01)	1.38	(0.81)	1.51	(2.63)	5.12
CDW	1.27	(0.02)	0.00	(0.09)	0.00	0.00	2.47	(3.09)	7.33

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