Virgin Galactic Correlations

SPCE Stock

USD 4.04 0.06 1.46%

The correlation of Virgin Galactic 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.

Virgin Galactic Correlation With Market

Significant diversification

The correlation between Virgin Galactic Holdings 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 Virgin Galactic Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Virgin Galactic 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 main economic indicators.

Moving together with Virgin Stock

0.75	CW	Curtiss Wright	Pair Corr
0.88	DPRO	Draganfly	Pair Corr
0.86	VTSI	VirTra Inc Earnings Call This Week	Pair Corr
0.82	EVEX	Eve Holding	Pair Corr
0.85	EVTL	Vertical Aerospace	Pair Corr
0.83	KWE	KWESST Micro Systems	Pair Corr
0.64	PKE	Park Electrochemical	Pair Corr
0.65	SIF	SIFCO Industries	Pair Corr
0.66	TXT	Textron	Pair Corr

Moving against Virgin Stock

0.87	ERJ	Embraer SA ADR	Pair Corr
0.86	RTX	Raytheon Technologies	Pair Corr
0.8	RGR	Sturm Ruger	Pair Corr
0.79	EH	Ehang Holdings	Pair Corr
0.78	ESLT	Elbit Systems	Pair Corr
0.77	HWM	Howmet Aerospace	Pair Corr
0.48	HEI	Heico	Pair Corr
0.37	SATLW	Satellogic Warrant	Pair Corr
0.87	TGI	Triumph Group	Pair Corr
0.8	SARO	StandardAero,	Pair Corr
0.72	TDG	Transdigm Group	Pair Corr
0.72	POWWP	Ammo Preferred	Pair Corr
0.56	MRCY	Mercury Systems	Pair Corr
0.55	POWW	Ammo Inc	Pair Corr
0.45	WWD	Woodward	Pair Corr

Related Correlations Analysis

	ASTR	PL	EVEX	RDW	LMT	RTX	NOC	GD	RKLB	MNTS
ASTR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASTR
PL	0.0		0.2	0.81	-0.6	0.23	-0.32	-0.61	0.5	-0.11	PL
EVEX	0.0	0.2		0.58	0.23	-0.75	-0.35	-0.1	0.82	0.87	EVEX
RDW	0.0	0.81	0.58		-0.24	-0.11	-0.22	-0.39	0.87	0.33	RDW
LMT	0.0	-0.6	0.23	-0.24		-0.44	0.51	0.8	0.13	0.57	LMT
RTX	0.0	0.23	-0.75	-0.11	-0.44		0.42	-0.01	-0.47	-0.85	RTX
NOC	0.0	-0.32	-0.35	-0.22	0.51	0.42		0.81	-0.16	-0.12	NOC
GD	0.0	-0.61	-0.1	-0.39	0.8	-0.01	0.81		-0.12	0.19	GD
RKLB	0.0	0.5	0.82	0.87	0.13	-0.47	-0.16	-0.12		0.7	RKLB
MNTS	0.0	-0.11	0.87	0.33	0.57	-0.85	-0.12	0.19	0.7		MNTS
	ASTR	PL	EVEX	RDW	LMT	RTX	NOC	GD	RKLB	MNTS

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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

MNTS	+ 0.87	EVEX
RKLB	+ 0.87	RDW
RKLB	+ 0.82	EVEX
RDW	+ 0.81	PL
GD	+ 0.81	NOC
GD	+ 0.8	LMT

High negative correlations

MNTS	- 0.85	RTX
RTX	- 0.75	EVEX
GD	- 0.61	PL
LMT	- 0.6	PL
RKLB	- 0.47	RTX
RTX	- 0.44	LMT

Risk-Adjusted Indicators

There is a big difference between Virgin Stock performing well and Virgin Galactic 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 Virgin Galactic'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
PL	4.63	0.04	0.01	(0.46)	5.22	(4.98)	8.17	(8.81)	32.86
EVEX	3.92	(0.28)	0.00	(0.10)	0.00	0.00	7.22	(8.38)	20.12
RDW	5.81	0.11	0.02	0.03	6.70	(6.13)	13.01	(10.45)	64.06
LMT	1.23	(0.14)	0.00	(0.88)	0.00	0.00	2.58	(2.65)	12.44
RTX	1.05	0.22	0.16	0.31	1.16	(1.13)	2.52	(2.51)	7.67
NOC	1.26	0.09	0.05	(6.24)	1.61	(1.33)	2.98	(3.30)	8.42
GD	1.01	0.02	0.01	0.04	1.54	(0.89)	1.86	(2.20)	7.72
RKLB	4.51	(0.22)	0.00	(0.06)	0.00	0.00	7.37	(8.94)	40.12
MNTS	6.62	(1.57)	0.00	(3.18)	0.00	0.00	17.63	(12.27)	41.03

Virgin Galactic Corporate Management

Seth Zaslow	Vice President - Investor Relations	Profile
Aleanna Crane	Vice Communications	Profile
David Mackay	Chief Pilot	Profile
Swami Iyer	President - Aerospace Systems	Profile

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