GE Aerospace Correlations

GE Stock  USD 165.00  0.03  0.02%   
The current 90-days correlation between GE Aerospace and Parker Hannifin is 0.46 (i.e., Very weak diversification). The correlation of GE Aerospace 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.

GE Aerospace Correlation With Market

Weak diversification

The correlation between GE Aerospace and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GE Aerospace and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GE Aerospace. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For information on how to trade GE Aerospace Stock refer to our How to Trade GE Aerospace Stock guide.

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Moving against GE Aerospace Stock

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Related Correlations Analysis

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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   
GFFORMP
PHVSORMP
ORMPXPOF
GFFPH
PHVSPH
ORMPPH
  
High negative correlations   
ORMPFTLF
LIDRXPOF
FTLFXPOF
PHVSFTLF
PHVSLIDR
GFFFTLF

Risk-Adjusted Indicators

There is a big difference between GE Aerospace Stock performing well and GE Aerospace 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 GE Aerospace'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PH  1.04 (0.08) 0.00 (0.07) 0.00 
 2.03 
 7.56 
SIGRF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
XPOF  3.78  0.22  0.03  0.37  6.45 
 7.52 
 37.00 
FTLF  2.33  0.40  0.13 (0.56) 2.60 
 6.11 
 17.21 
LIDR  10.07  2.11  0.24  0.43  7.57 
 35.77 
 138.75 
ORMP  2.60 (0.33) 0.00 (0.28) 0.00 
 5.96 
 14.31 
GFL  1.58  0.21  0.10  0.25  1.85 
 3.50 
 16.13 
GFF  1.72 (0.08) 0.00 (0.06) 0.00 
 2.92 
 11.55 
GFI  2.24 (0.02) 0.00 (0.02) 0.00 
 4.04 
 21.17 
PHVS  3.40 (0.18) 0.00 (0.31) 0.00 
 7.15 
 24.54