BorgWarner Correlations

BWA Stock

USD 53.39 0.73 1.35%

The current 90-days correlation between BorgWarner and Autoliv is 0.4 (i.e., Very weak diversification). The correlation of BorgWarner 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.

BorgWarner Correlation With Market

Poor diversification

The correlation between BorgWarner and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BorgWarner and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade BorgWarner Stock refer to our How to Trade BorgWarner Stock guide.

Moving together with BorgWarner Stock

0.83	60V	KYB PORATION	Pair Corr
0.74	C31	Cooper Standard Holdings	Pair Corr
0.77	XDH	Xingda International	Pair Corr
0.89	VSA2	Valeo SA	Pair Corr
0.86	SRU	Standard Motor Products	Pair Corr
0.69	7FZ	INTER CARS SA Earnings Call Tomorrow	Pair Corr
0.86	KBX	Knorr Bremse AG	Pair Corr
0.79	7GA	Gestamp Automoción	Pair Corr
0.9	ML	Compagnie Generale des	Pair Corr
0.67	SSA	Spectra	Pair Corr
0.83	FR	Valeo SA	Pair Corr
0.79	TYT	Toyota Motor Corp	Pair Corr
0.81	1A7	Allison Transmission	Pair Corr
0.95	TY7	Toyota Boshoku	Pair Corr
0.86	AXL	American Axle Manufa Symbol Change	Pair Corr
0.64	FOXF	Fox Factory Holding	Pair Corr
0.82	CPS	Cooper Stnd	Pair Corr
0.89	DAN	Dana Inc	Pair Corr

Moving against BorgWarner Stock

0.87	QS	QuantumScape Class Downward Rally	Pair Corr
0.65	PWO	Progress Werk Oberkirch	Pair Corr
0.54	KC7	AMA Group Limited	Pair Corr
0.86	WKSP	Worksport	Pair Corr
0.69	WKHS	Workhorse Group	Pair Corr
0.6	MW4	Akwel SA	Pair Corr
0.6	HGEA	hGears AG	Pair Corr
0.57	JOHB	Johnson Electric Holdings	Pair Corr
0.42	GEF	SOGEFI	Pair Corr
0.77	FRSX	Foresight Autonomous	Pair Corr
0.63	GGR	Gogoro Inc	Pair Corr
0.34	ECX	ECARX Holdings Class	Pair Corr

Related Correlations Analysis

	ALV	QS	MOD	LKQ	MBLY	DDS	PAG	ALSN	GME	CART
ALV		-0.21	-0.05	0.74	-0.11	0.16	0.17	0.39	0.03	-0.43	ALV
QS	-0.21		-0.8	-0.71	0.89	0.39	0.1	-0.91	-0.59	0.79	QS
MOD	-0.05	-0.8		0.48	-0.76	-0.3	0.01	0.71	0.78	-0.79	MOD
LKQ	0.74	-0.71	0.48		-0.6	-0.09	0.05	0.83	0.42	-0.82	LKQ
MBLY	-0.11	0.89	-0.76	-0.6		0.49	0.13	-0.84	-0.69	0.72	MBLY
DDS	0.16	0.39	-0.3	-0.09	0.49		0.58	-0.32	-0.27	0.23	DDS
PAG	0.17	0.1	0.01	0.05	0.13	0.58		-0.06	-0.08	0.03	PAG
ALSN	0.39	-0.91	0.71	0.83	-0.84	-0.32	-0.06		0.56	-0.8	ALSN
GME	0.03	-0.59	0.78	0.42	-0.69	-0.27	-0.08	0.56		-0.71	GME
CART	-0.43	0.79	-0.79	-0.82	0.72	0.23	0.03	-0.8	-0.71		CART
	ALV	QS	MOD	LKQ	MBLY	DDS	PAG	ALSN	GME	CART

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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

MBLY	+ 0.89	QS
ALSN	+ 0.83	LKQ
CART	+ 0.79	QS
GME	+ 0.78	MOD
LKQ	+ 0.74	ALV
CART	+ 0.72	MBLY

High negative correlations

ALSN	- 0.91	QS
ALSN	- 0.84	MBLY
CART	- 0.82	LKQ
CART	- 0.8	ALSN
MOD	- 0.8	QS
CART	- 0.79	MOD

Risk-Adjusted Indicators

There is a big difference between BorgWarner Stock performing well and BorgWarner 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 BorgWarner'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
ALV	1.11	(0.09)	0.00	(0.05)	0.00	0.00	2.85	(2.47)	7.36
QS	3.02	(0.92)	0.00	(0.33)	0.00	0.00	6.14	(8.22)	21.05
MOD	2.90	0.48	0.11	0.25	4.00	(3.02)	6.18	(7.46)	23.05
LKQ	1.47	0.08	0.06	0.10	1.57	(1.66)	3.36	(2.42)	11.87
MBLY	2.48	(0.52)	0.00	(0.23)	0.00	0.00	3.69	(5.94)	15.74
DDS	1.95	(0.07)	0.00	(0.05)	0.00	0.00	4.16	(3.91)	13.82
PAG	1.09	(0.07)	0.00	(0.06)	0.00	0.00	2.77	(2.47)	8.71
ALSN	1.20	0.50	0.45	0.53	0.59	(1.50)	3.31	(1.66)	7.29
GME	1.84	0.18	0.08	0.28	1.91	(2.05)	4.44	(3.42)	13.39
CART	1.91	(0.18)	0.00	(0.32)	0.00	0.00	3.88	(4.88)	11.63

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