Byrna Technologies Correlations

BYRN Stock

USD 19.05 0.97 4.85%

The current 90-days correlation between Byrna Technologies and Ducommun Incorporated is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Byrna Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Byrna Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Byrna Technologies Correlation With Market

Significant diversification

The correlation between Byrna Technologies and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Byrna Technologies and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Byrna Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

To learn how to invest in Byrna Stock, please use our How to Invest in Byrna Technologies guide.

Moving together with Byrna Stock

0.74	CAE	CAE Inc	Pair Corr
0.61	CVU	CPI Aerostructures	Pair Corr
0.65	DRS	Leonardo DRS, Common	Pair Corr
0.79	ERJ	Embraer SA ADR	Pair Corr
0.76	HEI	Heico Fiscal Year End 16th of December 2024	Pair Corr
0.71	HWM	Howmet Aerospace	Pair Corr
0.66	RDW	Redwire Corp	Pair Corr
0.68	WWD	Woodward	Pair Corr

Moving against Byrna Stock

0.69	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.6	HII	Huntington Ingalls	Pair Corr
0.47	EVTL	Vertical Aerospace Trending	Pair Corr
0.45	KWE	KWESST Micro Systems Fiscal Year End 15th of January 2025	Pair Corr
0.71	KITT	Nauticus Robotics Buyout Trend	Pair Corr
0.7	LILMW	Lilium Equity Warrants	Pair Corr
0.65	KITTW	Nauticus Robotics	Pair Corr
0.61	RGR	Sturm Ruger	Pair Corr
0.56	SVT	Servotronics	Pair Corr
0.51	SPR	Spirit Aerosystems	Pair Corr
0.5	MNTS	Momentus	Pair Corr
0.49	HOVRW	New Horizon Aircraft Symbol Change	Pair Corr
0.42	GPUS	Hyperscale Data, Symbol Change	Pair Corr
0.38	HOVR	New Horizon Aircraft Symbol Change	Pair Corr
0.36	SIF	SIFCO Industries	Pair Corr
0.34	KWESW	KWESST Micro Systems	Pair Corr
0.33	TXT	Textron Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	DCO	PKE	KAMN	NPK	ATRO	KITTW	ISSC	HXL	CDRE
DCO		0.39	0.25	0.56	-0.13	-0.31	0.21	0.21	-0.18	DCO
PKE	0.39		0.74	0.57	-0.66	-0.56	0.89	0.25	-0.46	PKE
KAMN	0.25	0.74		0.41	-0.69	-0.62	0.72	-0.02	-0.54	KAMN
NPK	0.56	0.57	0.41		-0.23	-0.11	0.41	0.48	-0.56	NPK
ATRO	-0.13	-0.66	-0.69	-0.23		0.62	-0.62	0.24	0.63	ATRO
KITTW	-0.31	-0.56	-0.62	-0.11	0.62		-0.5	0.17	0.16	KITTW
ISSC	0.21	0.89	0.72	0.41	-0.62	-0.5		0.08	-0.49	ISSC
HXL	0.21	0.25	-0.02	0.48	0.24	0.17	0.08		0.21	HXL
CDRE	-0.18	-0.46	-0.54	-0.56	0.63	0.16	-0.49	0.21		CDRE
	DCO	PKE	KAMN	NPK	ATRO	KITTW	ISSC	HXL	CDRE

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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

ISSC	+ 0.89	PKE
KAMN	+ 0.74	PKE
ISSC	+ 0.72	KAMN
CDRE	+ 0.63	ATRO
KITTW	+ 0.62	ATRO
NPK	+ 0.57	PKE

High negative correlations

ATRO	- 0.69	KAMN
ATRO	- 0.66	PKE
ISSC	- 0.62	ATRO
KITTW	- 0.62	KAMN
CDRE	- 0.56	NPK
KITTW	- 0.56	PKE

Risk-Adjusted Indicators

There is a big difference between Byrna Stock performing well and Byrna Technologies 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 Byrna Technologies' 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
DCO	1.31	(0.16)	(0.05)	0.02	1.55	(1.44)	2.90	(2.30)	8.32
PKE	1.30	(0.02)	0.05	0.10	1.07	(1.71)	2.61	(2.02)	12.34
KAMN	1.85	0.17	0.00	(0.33)	2.21	(1.87)	5.37	(3.75)	14.48
NPK	1.16	(0.08)	(0.03)	0.05	1.39	(1.23)	2.43	(2.44)	8.03
ATRO	2.34	(0.62)	0.00	(0.16)	0.00	0.00	3.60	(7.33)	22.57
KITTW	5.13	(0.41)	0.00	(1.45)	0.00	0.00	12.32	(13.51)	35.31
ISSC	1.33	0.10	0.03	0.28	1.52	(1.44)	3.28	(3.31)	9.31
HXL	1.18	(0.19)	0.00	(0.01)	0.00	0.00	2.35	(2.66)	6.19
CDRE	1.61	(0.28)	0.00	(0.05)	0.00	0.00	3.06	(4.24)	13.54

Byrna Technologies Corporate Management

Lisa Wager	Chief Secretary	Profile
Andy Pollack	Chief Officer	Profile
David Schultz	Chief Officer	Profile
Andre Buys	Chief Officer	Profile
Chief Boatman	Chief Officer	Profile
Sandra Driscoll	Chief Officer	Profile
Laurilee Kearnes	Chief Officer	Profile

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