Woodward Correlations

WWD Stock

USD 391.53 1.25 0.32%

The current 90-days correlation between Woodward and Textron is 0.26 (i.e., Modest diversification). The correlation of Woodward 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.

Woodward Correlation With Market

Very poor diversification

The correlation between Woodward and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woodward and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Woodward Stock

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

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

Moving together with Woodward Stock

0.63	HY	Hyster Yale Materials	Pair Corr
0.93	PH	Parker Hannifin	Pair Corr
0.77	PL	Planet Labs PBC Downward Rally	Pair Corr
0.85	HZ8	Insteel Industries	Pair Corr
0.82	RFG	Roebuck Food Group	Pair Corr
0.71	FIP	FTAI Infrastructure	Pair Corr
0.83	FTV	Fortive Corp Tech Boost	Pair Corr
0.86	GHM	Graham	Pair Corr
0.82	FSTR	LB Foster	Pair Corr
0.93	GRC	Gorman Rupp	Pair Corr
0.9	ITW	Illinois Tool Works	Pair Corr
0.92	KAI	Kadant Inc Earnings Call Next Week	Pair Corr
0.83	MWA	Mueller Water Products	Pair Corr
0.88	NPO	Enpro Industries	Pair Corr
0.9	SNA	Snap On	Pair Corr
0.96	TKR	Timken Company Earnings Call Tomorrow	Pair Corr
0.75	TRS	TriMas	Pair Corr
0.92	OERL	OC Oerlikon Corp	Pair Corr
0.8	PRV	Porvair plc	Pair Corr
0.72	EGL	Environmental Group Earnings Call Next Week	Pair Corr

Moving against Woodward Stock

0.7	XPON	Expion360	Pair Corr
0.5	WATR	Current Water Techno	Pair Corr
0.48	PNR	Pentair PLC	Pair Corr
0.47	CXT	Crane NXT	Pair Corr
0.84	ILAG	Intelligent Living	Pair Corr
0.73	WFF	WF Holding Limited	Pair Corr
0.68	PNT	Pentair plc	Pair Corr
0.64	LIQT	LiqTech International	Pair Corr
0.62	NPWR	NET Power	Pair Corr
0.51	QST	Questor Technology	Pair Corr
0.5	HYFM	Hydrofarm Holdings	Pair Corr
0.44	INLF	INLIF LIMITED Ordinary	Pair Corr

Related Correlations Analysis

	TXT	MTZ	LUV	KTOS	ULS	TRU	CRS	XPO	JBHT	FTAI
TXT		0.82	0.81	0.77	-0.66	0.08	0.63	0.58	0.87	0.8	TXT
MTZ	0.82		0.88	0.68	-0.8	-0.19	0.56	0.73	0.92	0.87	MTZ
LUV	0.81	0.88		0.54	-0.78	-0.31	0.53	0.81	0.95	0.77	LUV
KTOS	0.77	0.68	0.54		-0.51	-0.03	0.42	0.38	0.62	0.88	KTOS
ULS	-0.66	-0.8	-0.78	-0.51		0.29	-0.41	-0.64	-0.78	-0.69	ULS
TRU	0.08	-0.19	-0.31	-0.03	0.29		-0.24	-0.58	-0.18	-0.27	TRU
CRS	0.63	0.56	0.53	0.42	-0.41	-0.24		0.6	0.52	0.54	CRS
XPO	0.58	0.73	0.81	0.38	-0.64	-0.58	0.6		0.76	0.61	XPO
JBHT	0.87	0.92	0.95	0.62	-0.78	-0.18	0.52	0.76		0.79	JBHT
FTAI	0.8	0.87	0.77	0.88	-0.69	-0.27	0.54	0.61	0.79		FTAI
	TXT	MTZ	LUV	KTOS	ULS	TRU	CRS	XPO	JBHT	FTAI

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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

JBHT	+ 0.95	LUV
JBHT	+ 0.92	MTZ
LUV	+ 0.88	MTZ
FTAI	+ 0.88	KTOS
JBHT	+ 0.87	TXT
FTAI	+ 0.87	MTZ

High negative correlations

ULS	- 0.8	MTZ
JBHT	- 0.78	ULS
ULS	- 0.78	LUV
FTAI	- 0.69	ULS
ULS	- 0.66	TXT
XPO	- 0.64	ULS

Risk-Adjusted Indicators

There is a big difference between Woodward Stock performing well and Woodward 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 Woodward'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
TXT	1.10	0.20	0.10	0.32	1.47	(1.19)	2.37	(1.64)	11.43
MTZ	1.72	0.36	0.13	0.40	2.26	(1.79)	4.38	(4.74)	13.07
LUV	1.97	0.81	0.58	0.67	0.68	(2.45)	5.29	(2.06)	20.72
KTOS	3.97	0.09	0.03	0.13	4.84	(4.12)	9.28	(6.65)	25.43
ULS	1.63	(0.12)	0.00	2.33	0.00	0.00	2.70	(3.33)	21.27
TRU	1.85	(0.20)	0.00	(0.05)	0.00	0.00	4.00	(3.52)	16.82
CRS	2.03	0.21	0.08	0.33	2.28	(2.27)	5.30	(4.98)	13.86
XPO	2.21	0.43	0.24	0.29	1.92	(2.75)	5.48	(3.58)	11.12
JBHT	1.28	0.33	0.31	0.39	0.71	(1.65)	4.20	(1.54)	6.62
FTAI	2.38	0.83	0.30	0.95	2.08	(2.78)	6.00	(3.52)	22.10

Woodward Corporate Management

Christopher Fawzy	Chief Compliance Officer, Corporate VP, General Counsel and Corporate Secretary	Profile
Mark Hartman	Chief Officer	Profile
Paul Benson	Corporate Resources	Profile
Randy Hobbs	Pres Segment	Profile
John Godsman	Executive Development	Profile

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