Broadwind Energy Correlations

BWEN Stock

USD 1.78 0.05 2.89%

The current 90-days correlation between Broadwind Energy and Luxfer Holdings PLC is 0.2 (i.e., Modest 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

Average diversification

The correlation between Broadwind Energy and DJI is 0.16 (i.e., Average 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.

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 income.

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

Moving against Broadwind Stock

0.52	PH	Parker Hannifin	Pair Corr
0.48	AME	Ametek Inc	Pair Corr
0.47	CR	Crane Company	Pair Corr
0.41	EPAC	Enerpac Tool Group	Pair Corr
0.4	FELE	Franklin Electric Earnings Call This Week	Pair Corr
0.37	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.35	DCI	Donaldson	Pair Corr
0.47	DOV	Dover	Pair Corr
0.39	KAI	Kadant Inc	Pair Corr
0.37	MWA	Mueller Water Products	Pair Corr
0.36	EMR	Emerson Electric	Pair Corr
0.36	IEX	IDEX	Pair Corr
0.36	ITT	ITT Inc	Pair Corr
0.35	GRC	Gorman Rupp	Pair Corr
0.34	GGG	Graco Inc	Pair Corr
0.32	ITW	Illinois Tool Works	Pair Corr
0.37	SYM	Symbotic	Pair Corr
0.35	SMR	Nuscale Power Corp Downward Rally	Pair Corr
0.31	SXI	Standex International	Pair Corr
0.31	XYL	Xylem Inc	Pair Corr

Related Correlations Analysis

	THR	NPO	GTES	WTS	EPAC	GRC	CR	FELE	LXFR	CIR
THR		0.64	0.76	0.84	0.54	0.79	0.49	0.71	0.26	0.0	THR
NPO	0.64		0.75	0.78	0.28	0.47	0.42	0.39	0.14	0.0	NPO
GTES	0.76	0.75		0.8	0.62	0.77	0.63	0.73	0.39	0.0	GTES
WTS	0.84	0.78	0.8		0.65	0.76	0.6	0.76	0.44	0.0	WTS
EPAC	0.54	0.28	0.62	0.65		0.88	0.81	0.94	0.79	0.0	EPAC
GRC	0.79	0.47	0.77	0.76	0.88		0.79	0.96	0.64	0.0	GRC
CR	0.49	0.42	0.63	0.6	0.81	0.79		0.85	0.81	0.0	CR
FELE	0.71	0.39	0.73	0.76	0.94	0.96	0.85		0.74	0.0	FELE
LXFR	0.26	0.14	0.39	0.44	0.79	0.64	0.81	0.74		0.0	LXFR
CIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CIR
	THR	NPO	GTES	WTS	EPAC	GRC	CR	FELE	LXFR	CIR

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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

FELE	+ 0.96	GRC
FELE	+ 0.94	EPAC
GRC	+ 0.88	EPAC
FELE	+ 0.85	CR
WTS	+ 0.84	THR
CR	+ 0.81	EPAC

High negative correlations

CIR	- 0.0	LXFR
CIR	- 0.0	FELE
CIR	- 0.0	CR
CIR	- 0.0	GRC
CIR	- 0.0	EPAC
CIR	- 0.0	WTS

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
THR	1.36	(0.03)	(0.04)	0.04	1.52	(1.58)	2.84	(3.24)	13.19
NPO	1.40	0.37	0.18	0.82	1.49	(1.51)	2.56	(2.11)	17.55
GTES	1.40	0.25	0.12	0.61	1.40	(1.61)	3.11	(2.14)	9.89
WTS	1.10	0.08	0.03	0.22	1.32	(1.11)	2.07	(2.32)	10.43
EPAC	1.39	0.01	(0.01)	0.11	1.65	(1.42)	2.67	(2.90)	13.10
GRC	1.26	(0.02)	(0.02)	0.07	1.57	(1.31)	2.35	(2.03)	14.03
CR	1.43	0.05	0.05	0.12	1.43	(1.68)	4.14	(2.88)	15.24
FELE	1.09	0.04	0.00	0.16	1.18	(1.21)	2.20	(1.71)	13.66
LXFR	1.64	(0.05)	(0.04)	0.00	2.05	(1.65)	3.24	(3.45)	8.04
CIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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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