BorgWarner Correlations

BWA Stock

USD 50.48 1.91 3.93%

The current 90-days correlation between BorgWarner and Autoliv is -0.07 (i.e., Good 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 poor diversification

The correlation between BorgWarner and DJI is 0.82 (i.e., Very 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.

Build AI portfolio with BorgWarner Stock

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 child.

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

Moving together with BorgWarner Stock

0.76	7FZ	INTER CARS SA	Pair Corr
0.83	AXL	American Axle Manufa Buyout Trend	Pair Corr
0.84	LEA	Lear Upward Rally	Pair Corr
0.69	108	Sumitomo Rubber Indu Earnings Call This Week	Pair Corr
0.66	SMP	Standard Motor Products	Pair Corr
0.63	XTC	Exco Technologies	Pair Corr
0.67	ABV	Advanced Braking Tec	Pair Corr
0.81	EZM	Compagnie Plastic Omnium	Pair Corr
0.82	1NX	SANOK RUBBER ZY	Pair Corr
0.82	RILYL	B Riley Financial	Pair Corr
0.67	RCKY	Rocky Brands	Pair Corr
0.73	THO	Thor Industries	Pair Corr
0.65	BNKHF	BOC Hong Kong	Pair Corr
0.73	FIBK	First Interstate Ban	Pair Corr
0.79	ENS	Enersys Earnings Call This Week	Pair Corr
0.73	TFLM	TFLM	Pair Corr

Moving against BorgWarner Stock

0.7	MTEN	Mingteng International Buyout Trend	Pair Corr
0.65	N37	National Tyre Wheel	Pair Corr
0.52	M4HA	METAIR INVTS LTD	Pair Corr
0.47	DORM	Dorman Products	Pair Corr
0.79	BROGF	BROGF	Pair Corr
0.32	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	ALV	QS	MOD	LKQ	MBLY	DDS	PAG	ALSN	GME	CART
ALV		-0.44	-0.12	0.86	-0.34	0.41	0.23	0.74	0.19	-0.17	ALV
QS	-0.44		-0.04	-0.45	0.87	-0.51	-0.39	-0.82	-0.23	-0.3	QS
MOD	-0.12	-0.04		0.05	-0.26	-0.08	-0.18	0.1	0.7	-0.43	MOD
LKQ	0.86	-0.45	0.05		-0.42	0.26	0.1	0.75	0.28	-0.41	LKQ
MBLY	-0.34	0.87	-0.26	-0.42		-0.27	-0.27	-0.78	-0.43	-0.12	MBLY
DDS	0.41	-0.51	-0.08	0.26	-0.27		0.81	0.59	0.16	0.51	DDS
PAG	0.23	-0.39	-0.18	0.1	-0.27	0.81		0.47	0.08	0.66	PAG
ALSN	0.74	-0.82	0.1	0.75	-0.78	0.59	0.47		0.41	0.1	ALSN
GME	0.19	-0.23	0.7	0.28	-0.43	0.16	0.08	0.41		-0.27	GME
CART	-0.17	-0.3	-0.43	-0.41	-0.12	0.51	0.66	0.1	-0.27		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	+ 0.87	QS
LKQ	+ 0.86	ALV
PAG	+ 0.81	DDS
ALSN	+ 0.75	LKQ
ALSN	+ 0.74	ALV
GME	+ 0.7	MOD

High negative correlations

ALSN	- 0.82	QS
ALSN	- 0.78	MBLY
DDS	- 0.51	QS
LKQ	- 0.45	QS
QS	- 0.44	ALV
GME	- 0.43	MBLY

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	1.18	0.08	0.05	0.12	1.47	(1.20)	3.13	(2.57)	8.44
QS	3.35	(0.95)	0.00	(0.43)	0.00	0.00	6.14	(7.98)	28.88
MOD	3.22	0.37	0.09	0.20	4.50	(3.34)	6.18	(7.46)	23.70
LKQ	1.55	0.09	0.07	0.11	1.57	(1.72)	3.36	(2.42)	9.62
MBLY	2.42	(0.61)	0.00	(0.29)	0.00	0.00	3.57	(5.65)	15.74
DDS	2.05	0.20	0.06	0.33	2.71	(2.30)	5.05	(4.39)	17.26
PAG	0.98	0.00	0.00	0.06	1.09	(1.07)	2.77	(2.10)	6.07
ALSN	1.28	0.42	0.32	0.45	0.89	(1.52)	3.31	(2.09)	7.29
GME	1.82	0.12	0.06	0.19	1.85	(2.25)	4.44	(3.42)	13.39
CART	1.80	(0.02)	(0.01)	0.03	2.78	(1.51)	3.91	(4.32)	11.01

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