BAE SYSTEMS Correlations

BA
 Stock
  

GBp 806.80  9.00  1.13%   

The correlation of BAE SYSTEMS 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 BAE SYSTEMS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BAE SYSTEMS PLC 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.
Continue to Trending Equities.
  
The ability to find closely correlated positions to BAE SYSTEMS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BAE SYSTEMS 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 BAE SYSTEMS - 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 BAE SYSTEMS PLC to buy it.

Moving against BAE SYSTEMS

-0.66DOCSDR MARTENS PLCPairCorr
-0.65EZJEASYJET PLC ORDPairCorr
-0.59POLYPOLYMETAL INTERNATIONALPairCorr
-0.54AVAVIVA PLC ORDPairCorr
-0.53FSVFIDELITY SPECIAL VALUESPairCorr
-0.51CAMLCENTRAL ASIA METALSPairCorr

Related Correlations

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   
RRFSV
RRBP
BPFSV
BPTRST
FSVDOCS
BPUOG
  
High negative correlations   
SNFLRR
SNFLFSV
SNFLSPDI
SNFLBP
SPDIDOCS
SPDIFSV

BAE SYSTEMS Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between BAE SYSTEMS Stock performing well and BAE SYSTEMS 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 BAE SYSTEMS'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.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
GEC 4.61  1.23  0.00 (2.34)  0.00  0.09  0.00  0.00  0.00  95.39 
TRST 3.76  0.63  0.13  1.37  4.14  0.12 (4.16)  10.11 (7.25)  27.01 
DOCS 2.74 (0.25)  0.00 (0.80)  0.00 (0.06)  0.00  4.49 (6.23)  30.13 
UOG 3.77 (0.03)  0.00 (0.14)  0.00 (0.0081)  0.00  12.41 (7.69)  41.86 
FSV 1.37  0.09  0.04  0.38  1.49  0.0389 (1.61)  3.04 (2.63)  6.92 
BP 1.36  0.14  0.06  2.11  1.68  0.06 (1.35)  2.67 (2.53)  8.32 
SPDI 582.01  296.54  0.00  23.01  0.00  0.17  0.00  0.00 (4.00)  9,999 
RR 2.14  0.21  0.07  0.70  2.52  0.07 (2.18)  5.27 (4.27)  11.41 
SNFL 305.23  155.62  30.93 (3.34)  0.00  0.12 (312.63)  6.12 (6.35)  10,242 

Be your own money manager

Our tools can tell you how much better you can do entering a position in BAE SYSTEMS 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.

Did you try this?

Run Stock Tickers Now

   

Stock Tickers

Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
All  Next Launch Module

Invested in BAE SYSTEMS PLC?

The danger of trading BAE SYSTEMS PLC 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 BAE SYSTEMS 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 BAE SYSTEMS. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BAE SYSTEMS PLC 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.
Continue to Trending Equities. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

Complementary Tools for analysis

When running BAE SYSTEMS PLC price analysis, check to measure BAE SYSTEMS'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 BAE SYSTEMS is operating at the current time. Most of BAE SYSTEMS's value examination focuses on studying past and present price action to predict the probability of BAE SYSTEMS's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move BAE SYSTEMS's price. Additionally, you may evaluate how the addition of BAE SYSTEMS to your portfolios can decrease your overall portfolio volatility.
Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios
Go
Premium Stories
Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Watchlist Optimization
Optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
Go
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Go
Fundamentals Comparison
Compare fundamentals across multiple equities to find investing opportunities
Go
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Please note, there is a significant difference between BAE SYSTEMS's value and its price as these two are different measures arrived at by different means. Investors typically determine BAE SYSTEMS value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BAE SYSTEMS'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.