Redwire Corp Correlations

RDW Stock

USD 11.41 0.12 1.06%

The correlation of Redwire Corp 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.

Redwire Corp Correlation With Market

Weak diversification

The correlation between Redwire Corp and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redwire Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Redwire Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Redwire Stock

0.75	BA	Boeing	Pair Corr
0.86	PL	Planet Labs PBC Earnings Call This Week	Pair Corr
0.73	BA-PA	Boeing	Pair Corr
0.75	CVU	CPI Aerostructures	Pair Corr
0.65	DCO	Ducommun Incorporated	Pair Corr
0.71	HXL	Hexcel	Pair Corr
0.62	SPR	Spirit Aerosystems	Pair Corr

Moving against Redwire Stock

0.45	VSEC	VSE Corporation	Pair Corr
0.37	GD	General Dynamics	Pair Corr
0.63	HEI	Heico	Pair Corr
0.53	RGR	Sturm Ruger	Pair Corr
0.38	LMT	Lockheed Martin	Pair Corr
0.35	LHX	L3Harris Technologies	Pair Corr
0.34	HII	Huntington Ingalls	Pair Corr
0.31	ERJ	Embraer SA ADR	Pair Corr

Related Correlations Analysis

	ASTR	SIDU	LLAP	PL	LUNR	RKLB	MNTS	SPCE	EVEX
ASTR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASTR
SIDU	0.0		0.0	-0.07	0.28	0.42	0.72	0.64	0.63	SIDU
LLAP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LLAP
PL	0.0	-0.07	0.0		0.55	0.56	-0.17	-0.23	0.19	PL
LUNR	0.0	0.28	0.0	0.55		0.89	0.57	0.39	0.75	LUNR
RKLB	0.0	0.42	0.0	0.56	0.89		0.67	0.55	0.8	RKLB
MNTS	0.0	0.72	0.0	-0.17	0.57	0.67		0.92	0.85	MNTS
SPCE	0.0	0.64	0.0	-0.23	0.39	0.55	0.92		0.76	SPCE
EVEX	0.0	0.63	0.0	0.19	0.75	0.8	0.85	0.76		EVEX
	ASTR	SIDU	LLAP	PL	LUNR	RKLB	MNTS	SPCE	EVEX

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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

SPCE	+ 0.92	MNTS
RKLB	+ 0.89	LUNR
EVEX	+ 0.85	MNTS
EVEX	+ 0.8	RKLB
EVEX	+ 0.76	SPCE
EVEX	+ 0.75	LUNR

High negative correlations

SPCE	- 0.23	PL
MNTS	- 0.17	PL
PL	- 0.07	SIDU
EVEX	- 0.0	LLAP
SPCE	- 0.0	LLAP
MNTS	- 0.0	LLAP

Risk-Adjusted Indicators

There is a big difference between Redwire Stock performing well and Redwire Corp 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 Redwire Corp'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
ASTR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SIDU	10.36	2.28	0.25	(1.97)	8.82	(14.86)	14.65	(13.64)	258.03
LLAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PL	4.56	0.49	0.07	0.11	4.66	(4.99)	8.17	(8.54)	31.61
LUNR	6.50	(0.09)	0.00	(0.10)	0.00	0.00	14.20	(12.73)	46.62
RKLB	4.66	0.07	0.00	(0.05)	0.00	0.00	8.15	(8.94)	40.12
MNTS	7.09	(0.87)	0.00	(0.53)	0.00	0.00	18.95	(11.50)	48.76
SPCE	3.38	(0.40)	0.00	(0.35)	0.00	0.00	7.43	(6.90)	21.25
EVEX	3.97	(0.16)	0.00	(0.15)	0.00	0.00	7.22	(8.38)	20.12

Redwire Corp Corporate Management

Aaron Futch	General VP	Profile
Nathan OKonek	General Secretary	Profile
Austin Jordan	Vice Communications	Profile
Steve Bailey	Chief Engineer	Profile
Jonathan Baliff	CFO Director	Profile
Faith Horowitz	Chief Officer	Profile
Colonel Bellamy	Executive Space	Profile

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