Western Digital Correlations

WDC Stock

USD 221.51 0.59 0.27%

The current 90-days correlation between Western Digital and Seagate Technology PLC is 0.87 (i.e., Very poor diversification). The correlation of Western Digital 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.

Western Digital Correlation With Market

Weak diversification

The correlation between Western Digital and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Digital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Western Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving together with Western Stock

0.72	BIMT	Bitmis Corp	Pair Corr
0.8	ACN	Accenture plc	Pair Corr
0.92	ATI	Allegheny Technologies	Pair Corr
0.7	KCRD	Kindcard	Pair Corr
0.71	WSFS	WSFS Financial	Pair Corr
0.9	ACR-PC	ACRES Commercial Realty	Pair Corr
0.83	WEICF	Weichai Power	Pair Corr
0.7	BOF	BranchOut Food Common	Pair Corr
0.81	F	Ford Motor	Pair Corr
0.67	SANM	Sanmina Tech Boost	Pair Corr

Moving against Western Stock

0.8	HPQ	HP Inc	Pair Corr
0.79	SMCI	Super Micro Computer Buyout Trend	Pair Corr
0.7	CRSR	Corsair Gaming	Pair Corr
0.7	STI	Solidion Technology Downward Rally	Pair Corr
0.69	603019	Dawning Information	Pair Corr
0.6	NTAP	NetApp Inc	Pair Corr
0.49	LOGI	Logitech International	Pair Corr
0.38	AAGH	America Great Health	Pair Corr
0.34	000066	China Greatwall Computer	Pair Corr

Related Correlations Analysis

	STX	NXPI	MPWR	SMCI	EA	MSI	XYZ	DDOG	INFY	GRMN
STX		0.51	-0.18	-0.75	0.76	-0.63	-0.46	-0.41	0.59	-0.54	STX
NXPI	0.51		0.36	-0.24	0.69	0.02	0.13	-0.73	0.54	0.3	NXPI
MPWR	-0.18	0.36		0.67	-0.3	0.76	0.79	-0.12	-0.19	0.77	MPWR
SMCI	-0.75	-0.24	0.67		-0.81	0.87	0.79	0.38	-0.68	0.75	SMCI
EA	0.76	0.69	-0.3	-0.81		-0.59	-0.5	-0.68	0.81	-0.36	EA
MSI	-0.63	0.02	0.76	0.87	-0.59		0.86	0.09	-0.47	0.91	MSI
XYZ	-0.46	0.13	0.79	0.79	-0.5	0.86		-0.04	-0.38	0.86	XYZ
DDOG	-0.41	-0.73	-0.12	0.38	-0.68	0.09	-0.04		-0.65	-0.14	DDOG
INFY	0.59	0.54	-0.19	-0.68	0.81	-0.47	-0.38	-0.65		-0.27	INFY
GRMN	-0.54	0.3	0.77	0.75	-0.36	0.91	0.86	-0.14	-0.27		GRMN
	STX	NXPI	MPWR	SMCI	EA	MSI	XYZ	DDOG	INFY	GRMN

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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

GRMN	+ 0.91	MSI
MSI	+ 0.87	SMCI
XYZ	+ 0.86	MSI
GRMN	+ 0.86	XYZ
INFY	+ 0.81	EA
XYZ	+ 0.79	MPWR

High negative correlations

EA	- 0.81	SMCI
SMCI	- 0.75	STX
DDOG	- 0.73	NXPI
DDOG	- 0.68	EA
INFY	- 0.68	SMCI
INFY	- 0.65	DDOG

Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western Digital 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 Western Digital'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
STX	3.44	0.57	0.17	0.36	3.48	(3.87)	6.87	(6.71)	26.83
NXPI	1.64	0.02	0.04	0.10	1.73	(1.81)	3.89	(3.09)	12.55
MPWR	1.95	(0.05)	0.01	0.06	2.73	(1.77)	4.10	(4.47)	14.52
SMCI	2.87	(0.82)	0.00	(0.40)	0.00	0.00	5.77	(6.60)	18.12
EA	0.14	0.02	(0.45)	0.47	0.00	(0.16)	0.31	(0.23)	0.80
MSI	0.92	(0.24)	0.00	(0.54)	0.00	0.00	1.56	(2.19)	7.63
XYZ	1.96	(0.36)	0.00	(0.11)	0.00	0.00	2.96	(4.58)	14.15
DDOG	1.88	(0.42)	0.00	(2.33)	0.00	0.00	3.17	(3.97)	32.62
INFY	1.64	0.18	0.07	0.58	1.58	(2.01)	3.57	(2.59)	10.66
GRMN	1.10	(0.32)	0.00	(0.24)	0.00	0.00	2.07	(2.23)	12.54

Western Digital Corporate Management

David Goeckeler	CEO Director	Profile
Gene Zamiska	Senior Officer	Profile
Shantnu Sharma	Chief Officer	Profile
Ahmed Shihab	Executive Officer	Profile
Robert Soderbery	Executive Business	Profile
Jeremy Faulk	Vice Development	Profile

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