Aerovironment Correlations

AVAV
 Stock
  

USD 92.08  1.79  1.98%   

The correlation of Aerovironment is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Aerovironment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aerovironment moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Aerovironment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aerovironment when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Aerovironment - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Aerovironment to buy it.

Moving together with Aerovironment

+0.83CCLCarnival Corp Fiscal Year End 19th of December 2022 PairCorr
+0.78FFord Motor Potential GrowthPairCorr

Moving against Aerovironment

-0.51AZPNAspen TechnologyPairCorr

Related Correlations

LMT
BA
BDRBF
NOC
GD
LMT
0.660.920.880.97
LMT
BA
0.660.840.310.65
BA
BDRBF
0.920.840.690.92
BDRBF
NOC
0.880.310.690.88
NOC
GD
0.970.650.920.88
GD
LMT
BA
BDRBF
NOC
GD
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
GDLMT
BDRBFLMT
GDBDRBF
NOCLMT
GDNOC
BDRBFBA
  

Aerovironment Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Aerovironment Stock performing well and Aerovironment company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Aerovironment's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aerovironment without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Aerovironment Corporate Directors

Aerovironment corporate directors refer to members of an Aerovironment board of directors. The board of directors generally takes responsibility for the Aerovironment's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Aerovironment's board members must vote for the resolution. The Aerovironment board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Arnold Fishman - Independent DirectorProfile
Edward Muller - Independent DirectorProfile
Catharine Merigold - DirectorProfile
Charles Burbage - Independent DirectorProfile

Invested in Aerovironment?

The danger of trading Aerovironment is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Aerovironment is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Aerovironment. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Aerovironment is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please continue to Trending Equities. Note that the Aerovironment information on this page should be used as a complementary analysis to other Aerovironment's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Analyst Recommendations module to analyst recommendations and target price estimates broken down by several categories.

Complementary Tools for Aerovironment Stock analysis

When running Aerovironment price analysis, check to measure Aerovironment's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Aerovironment is operating at the current time. Most of Aerovironment's value examination focuses on studying past and present price action to predict the probability of Aerovironment's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Aerovironment's price. Additionally, you may evaluate how the addition of Aerovironment to your portfolios can decrease your overall portfolio volatility.
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Is Aerovironment's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Aerovironment. If investors know Aerovironment will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Aerovironment listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.36) 
Market Capitalization
2.3 B
Quarterly Revenue Growth YOY
0.074
Return On Assets
(0.002) 
Return On Equity
0.0022
The market value of Aerovironment is measured differently than its book value, which is the value of Aerovironment that is recorded on the company's balance sheet. Investors also form their own opinion of Aerovironment's value that differs from its market value or its book value, called intrinsic value, which is Aerovironment's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Aerovironment's market value can be influenced by many factors that don't directly affect Aerovironment's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Aerovironment's value and its price as these two are different measures arrived at by different means. Investors typically determine Aerovironment value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Aerovironment's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.