Transdigm Group Correlations

TDG Stock

USD 1,394 0.07 0.01%

The current 90-days correlation between Transdigm Group and HEICO is 0.54 (i.e., Very weak diversification). The correlation of Transdigm Group 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.

Transdigm Group Correlation With Market

Very weak diversification

The correlation between Transdigm Group Incorporated and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transdigm Group Incorporated 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 Transdigm Group Incorporated. 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.

Moving together with Transdigm Stock

0.71	ESLT	Elbit Systems	Pair Corr
0.68	ERJ	Embraer SA ADR	Pair Corr
0.78	HWM	Howmet Aerospace	Pair Corr
0.87	RTX	Raytheon Technologies	Pair Corr
0.63	WWD	Woodward	Pair Corr

Moving against Transdigm Stock

0.76	KWE	KWESST Micro Systems	Pair Corr
0.66	DPRO	Draganfly	Pair Corr
0.66	EVTL	Vertical Aerospace	Pair Corr
0.57	VTSI	VirTra Inc Earnings Call This Week	Pair Corr
0.57	EVEX	Eve Holding	Pair Corr
0.67	MNTS	Momentus	Pair Corr
0.64	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.63	PRZO	ParaZero Technologies	Pair Corr
0.61	OPXS	Optex Systems Holdings,	Pair Corr
0.57	HOVR	New Horizon Aircraft	Pair Corr
0.57	GPUS-PD	Hyperscale Data, Trending	Pair Corr
0.54	HOVRW	New Horizon Aircraft	Pair Corr
0.45	SIF	SIFCO Industries	Pair Corr

Related Correlations Analysis

	HEI-A	LHX	HII	AVAV	LMT	NOC	GD	BA	RTX
HEI-A		0.34	0.38	-0.66	0.0	0.55	0.39	-0.44	0.71	HEI-A
LHX	0.34		0.8	0.01	0.82	0.85	0.91	-0.43	0.01	LHX
HII	0.38	0.8		-0.24	0.64	0.77	0.84	-0.42	0.09	HII
AVAV	-0.66	0.01	-0.24		0.11	-0.18	-0.17	0.58	-0.41	AVAV
LMT	0.0	0.82	0.64	0.11		0.51	0.8	-0.36	-0.44	LMT
NOC	0.55	0.85	0.77	-0.18	0.51		0.81	-0.36	0.42	NOC
GD	0.39	0.91	0.84	-0.17	0.8	0.81		-0.44	-0.01	GD
BA	-0.44	-0.43	-0.42	0.58	-0.36	-0.36	-0.44		-0.13	BA
RTX	0.71	0.01	0.09	-0.41	-0.44	0.42	-0.01	-0.13		RTX
	HEI-A	LHX	HII	AVAV	LMT	NOC	GD	BA	RTX

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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

GD	+ 0.91	LHX
NOC	+ 0.85	LHX
GD	+ 0.84	HII
LMT	+ 0.82	LHX
GD	+ 0.81	NOC
HII	+ 0.8	LHX

High negative correlations

AVAV	- 0.66	HEI-A
BA	- 0.44	GD
RTX	- 0.44	LMT
BA	- 0.44	HEI-A
BA	- 0.43	LHX
BA	- 0.42	HII

Risk-Adjusted Indicators

There is a big difference between Transdigm Stock performing well and Transdigm Group 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 Transdigm Group'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
HEI-A	1.40	0.11	0.05	0.18	1.93	(1.56)	2.70	(2.31)	14.84
LHX	1.07	(0.03)	0.00	(0.12)	0.00	0.00	2.06	(2.53)	6.75
HII	1.77	0.15	0.04	0.21	3.63	(1.83)	5.24	(3.51)	21.31
AVAV	2.02	(0.32)	0.00	(0.30)	0.00	0.00	4.40	(4.67)	14.38
LMT	1.23	(0.14)	0.00	(0.88)	0.00	0.00	2.58	(2.65)	12.44
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
BA	1.55	0.09	0.04	0.08	2.12	(1.53)	3.22	(2.90)	9.94
RTX	1.05	0.22	0.16	0.31	1.16	(1.13)	2.52	(2.51)	7.67

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