Broadwind Energy Correlations

BWEN Stock

USD 2.40 0.20 9.09%

The current 90-days correlation between Broadwind Energy and Pioneer Power Solutions is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Broadwind Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Broadwind Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Broadwind Energy Correlation With Market

Very weak diversification

The correlation between Broadwind Energy and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Broadwind Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Broadwind Stock

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

To learn how to invest in Broadwind Stock, please use our How to Invest in Broadwind Energy guide.

Moving together with Broadwind Stock

0.67	MAT	Mattel Inc Earnings Call Today	Pair Corr
0.64	JUPGF	Jupiter Gold	Pair Corr
0.61	NEWTH	NewtekOne 8625 percent	Pair Corr
0.61	SHPHF	Sihuan Pharmaceutical	Pair Corr

Moving against Broadwind Stock

0.5	PTAIF	PT Astra International	Pair Corr
0.42	PBCRY	Bank Central Asia	Pair Corr
0.39	BKRKY	Bank Rakyat Earnings Call Tomorrow	Pair Corr
0.39	BROGF	BROGF	Pair Corr
0.36	CETY	Clean Energy Technologies	Pair Corr

Related Correlations Analysis

	LASE	PPSI	GWH	PMEC	HTLM	DPRO	SIF	TPCS	MESA	MPU
LASE		-0.42	0.7	0.71	0.8	-0.09	0.33	-0.41	-0.66	0.66	LASE
PPSI	-0.42		-0.29	-0.02	-0.57	0.66	-0.47	0.78	0.34	-0.24	PPSI
GWH	0.7	-0.29		0.63	0.63	0.04	0.35	-0.41	-0.65	0.28	GWH
PMEC	0.71	-0.02	0.63		0.54	0.09	0.19	-0.13	-0.56	0.49	PMEC
HTLM	0.8	-0.57	0.63	0.54		-0.38	0.24	-0.52	-0.6	0.62	HTLM
DPRO	-0.09	0.66	0.04	0.09	-0.38		-0.14	0.48	0.09	-0.2	DPRO
SIF	0.33	-0.47	0.35	0.19	0.24	-0.14		-0.64	-0.43	0.35	SIF
TPCS	-0.41	0.78	-0.41	-0.13	-0.52	0.48	-0.64		0.45	-0.32	TPCS
MESA	-0.66	0.34	-0.65	-0.56	-0.6	0.09	-0.43	0.45		-0.6	MESA
MPU	0.66	-0.24	0.28	0.49	0.62	-0.2	0.35	-0.32	-0.6		MPU
	LASE	PPSI	GWH	PMEC	HTLM	DPRO	SIF	TPCS	MESA	MPU

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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

HTLM	+ 0.8	LASE
TPCS	+ 0.78	PPSI
PMEC	+ 0.71	LASE
GWH	+ 0.7	LASE
MPU	+ 0.66	LASE
DPRO	+ 0.66	PPSI

High negative correlations

MESA	- 0.66	LASE
MESA	- 0.65	GWH
TPCS	- 0.64	SIF
MPU	- 0.6	MESA
MESA	- 0.6	HTLM
HTLM	- 0.57	PPSI

Risk-Adjusted Indicators

There is a big difference between Broadwind Stock performing well and Broadwind Energy 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 Energy'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
LASE	5.91	(1.80)	0.00	2.18	0.00	0.00	8.33	(19.03)	52.28
PPSI	3.60	(0.19)	0.00	0.02	4.45	(3.91)	8.30	(7.51)	23.29
GWH	4.88	(1.27)	0.00	(0.28)	0.00	0.00	6.91	(10.19)	61.03
PMEC	3.53	(0.70)	0.00	(0.51)	0.00	0.00	6.86	(8.26)	28.97
HTLM	4.38	(0.24)	0.00	(0.23)	0.00	0.00	9.50	(9.35)	33.57
DPRO	5.61	(0.25)	0.00	(0.12)	0.00	0.00	13.03	(10.25)	37.73
SIF	2.63	(0.13)	0.00	(0.09)	0.00	0.00	5.96	(5.38)	19.66
TPCS	2.50	0.05	(0.01)	0.62	3.06	(2.64)	6.62	(5.31)	16.72
MESA	2.58	0.32	0.06	(1.48)	3.05	(2.98)	6.11	(5.56)	16.91
MPU	5.14	(0.29)	0.00	(0.11)	0.00	0.00	8.85	(12.61)	44.14

Broadwind Energy Corporate Management

Hayes Kennedy	VP Officer	Profile
Joni Konstantelos	Director Communications	Profile
Ashwini Rao	Chief Officer	Profile
Michael Stegelmann	Managing Europe	Profile
Arlene McKenzie	Corporate Secretary	Profile
Wayne Hanna	I Works	Profile

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