BorgWarner Correlations
| BWA Stock | USD 34.12 0.36 1.07% |
The current 90-days correlation between BorgWarner and LKQ Corporation is 0.52 (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
Very weak diversification
The correlation between BorgWarner and DJI is 0.55 (i.e., Very weak 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.
BorgWarner |
Moving together with BorgWarner Stock
Moving against BorgWarner Stock
| 0.57 | RIVN | Rivian Automotive Aggressive Push | PairCorr |
| 0.37 | DNUT | Krispy Kreme | PairCorr |
| 0.64 | LNW | Light Wonder | PairCorr |
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