Broadwind Correlations

9IRA Stock

EUR 1.61 0.05 3.01%

The current 90-days correlation between Broadwind and Transport International Holdings is -0.09 (i.e., Good diversification). The correlation of Broadwind 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.

Broadwind Correlation With Market

Modest diversification

The correlation between Broadwind and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Broadwind and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Broadwind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Broadwind 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 Broadwind - 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 Broadwind to buy it.

Moving together with Broadwind Stock

0.8	VWSB	Vestas Wind Systems	Pair Corr
0.79	VWSB	Vestas Wind Systems	Pair Corr
0.71	PQ9	PT Bank Mandiri	Pair Corr
0.77	PQ9	BANK MANDIRI	Pair Corr
0.84	PQ9	BANK MANDIRI	Pair Corr
0.67	BYRA	PT Bank Rakyat	Pair Corr
0.77	BYRA	BANK RAKYAT IND	Pair Corr
0.66	BYRA	PT Bank Rakyat	Pair Corr

Moving against Broadwind Stock

0.41

4PG

Otis Worldwide Corp

Pair Corr

Related Correlations Analysis

	KWO	FUY	BBEA	3GH	T6W	I9V	GI4	ROW
KWO		-0.05	0.27	0.65	0.16	0.18	0.36	0.36	KWO
FUY	-0.05		-0.73	-0.03	0.25	-0.67	-0.11	-0.7	FUY
BBEA	0.27	-0.73		0.33	-0.15	0.68	0.47	0.94	BBEA
3GH	0.65	-0.03	0.33		0.0	0.07	0.57	0.39	3GH
T6W	0.16	0.25	-0.15	0.0		-0.03	0.05	-0.13	T6W
I9V	0.18	-0.67	0.68	0.07	-0.03		0.17	0.65	I9V
GI4	0.36	-0.11	0.47	0.57	0.05	0.17		0.5	GI4
ROW	0.36	-0.7	0.94	0.39	-0.13	0.65	0.5		ROW
	KWO	FUY	BBEA	3GH	T6W	I9V	GI4	ROW

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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

ROW	+ 0.94	BBEA
I9V	+ 0.68	BBEA
3GH	+ 0.65	KWO
ROW	+ 0.65	I9V
GI4	+ 0.57	3GH
ROW	+ 0.5	GI4

High negative correlations

BBEA	- 0.73	FUY
ROW	- 0.7	FUY
I9V	- 0.67	FUY
T6W	- 0.15	BBEA
ROW	- 0.13	T6W
GI4	- 0.11	FUY

Risk-Adjusted Indicators

There is a big difference between Broadwind Stock performing well and Broadwind 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 Broadwind'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
KWO	1.05	0.02	(0.02)	0.20	1.54	(2.24)	4.08	(3.06)	15.06
FUY	1.14	(0.01)	(0.05)	0.06	1.69	(1.52)	1.92	(2.54)	12.14
BBEA	1.34	0.27	0.11	4.94	1.22	(1.57)	2.86	(1.95)	7.13
3GH	1.30	0.06	(0.04)	4.92	1.54	(1.50)	2.72	(2.83)	11.33
T6W	2.35	0.16	(0.01)	(0.12)	2.56	(3.98)	5.71	(5.26)	14.13
I9V	1.68	0.16	0.01	(0.64)	1.91	(1.99)	4.00	(3.38)	9.26
GI4	2.14	0.28	0.09	0.53	2.00	(3.08)	4.79	(4.23)	29.51
ROW	1.41	0.31	0.22	0.62	0.93	(1.88)	3.46	(2.07)	7.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in Broadwind 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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