Babcock Wilcox Correlations

BW Stock

USD 0.86 0.05 5.49%

The current 90-days correlation between Babcock Wilcox Enter and Enerpac Tool Group is 0.19 (i.e., Average diversification). The correlation of Babcock Wilcox 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Babcock Wilcox Correlation With Market

Very weak diversification

The correlation between Babcock Wilcox Enterprises and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Babcock Wilcox Enterprises 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 Babcock Wilcox Enterprises. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Babcock Stock

0.61	HI	Hillenbrand	Pair Corr
0.83	IR	Ingersoll Rand	Pair Corr
0.61	CXT	Crane NXT	Pair Corr
0.63	EMR	Emerson Electric Sell-off Trend	Pair Corr
0.86	ETN	Eaton PLC	Pair Corr
0.71	FLS	Flowserve	Pair Corr
0.86	GHM	Graham	Pair Corr
0.76	IEX	IDEX	Pair Corr
0.83	MIR	Mirion Technologies	Pair Corr
0.88	XMTR	Xometry	Pair Corr
0.85	PNR	Pentair PLC	Pair Corr
0.87	RRX	Regal Beloit	Pair Corr
0.65	SXI	Standex International	Pair Corr

Moving against Babcock Stock

0.37	FELE	Franklin Electric	Pair Corr
0.36	EPAC	Enerpac Tool Group Upward Rally	Pair Corr
0.74	MWA	Mueller Water Products	Pair Corr
0.5	WTS	Watts Water Technologies	Pair Corr
0.5	XYL	Xylem Inc	Pair Corr
0.32	TNC	Tennant Company	Pair Corr

Related Correlations Analysis

	EPAC	GRC	CR	FELE	LXFR	HURC	NPO	OFLX	IEX	WTS
EPAC		0.5	0.64	0.83	0.4	0.25	0.75	-0.46	-0.16	0.7	EPAC
GRC	0.5		0.28	0.66	0.45	0.29	0.52	0.08	0.27	0.35	GRC
CR	0.64	0.28		0.54	0.76	0.71	0.8	-0.31	0.15	0.48	CR
FELE	0.83	0.66	0.54		0.41	0.17	0.83	-0.43	-0.26	0.78	FELE
LXFR	0.4	0.45	0.76	0.41		0.87	0.64	0.08	0.51	0.31	LXFR
HURC	0.25	0.29	0.71	0.17	0.87		0.45	0.06	0.55	0.1	HURC
NPO	0.75	0.52	0.8	0.83	0.64	0.45		-0.5	-0.1	0.67	NPO
OFLX	-0.46	0.08	-0.31	-0.43	0.08	0.06	-0.5		0.55	-0.38	OFLX
IEX	-0.16	0.27	0.15	-0.26	0.51	0.55	-0.1	0.55		-0.38	IEX
WTS	0.7	0.35	0.48	0.78	0.31	0.1	0.67	-0.38	-0.38		WTS
	EPAC	GRC	CR	FELE	LXFR	HURC	NPO	OFLX	IEX	WTS

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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

HURC	+ 0.87	LXFR
FELE	+ 0.83	EPAC
NPO	+ 0.83	FELE
NPO	+ 0.8	CR
WTS	+ 0.78	FELE
LXFR	+ 0.76	CR

High negative correlations

OFLX	- 0.5	NPO
OFLX	- 0.46	EPAC
OFLX	- 0.43	FELE
WTS	- 0.38	IEX
WTS	- 0.38	OFLX
OFLX	- 0.31	CR

Risk-Adjusted Indicators

There is a big difference between Babcock Stock performing well and Babcock Wilcox 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 Babcock Wilcox'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
EPAC	1.48	0.00	0.00	0.00	1.79	(1.53)	2.67	(2.83)	6.65
GRC	1.29	(0.20)	0.00	(0.20)	0.00	0.00	2.20	(2.53)	7.41
CR	1.51	0.02	0.01	0.02	1.73	(1.76)	3.00	(3.24)	16.18
FELE	1.08	(0.09)	0.00	(0.09)	0.00	0.00	2.30	(2.17)	8.53
LXFR	1.73	(0.21)	0.00	(0.19)	0.00	0.00	2.60	(4.10)	11.40
HURC	2.35	(0.29)	0.00	(0.67)	0.00	0.00	4.14	(4.30)	23.02
NPO	1.59	(0.05)	0.00	(0.04)	0.00	0.00	2.26	(3.38)	10.90
OFLX	1.81	(0.24)	0.00	(1.03)	0.00	0.00	3.01	(3.59)	9.64
IEX	1.14	(0.27)	0.00	(0.39)	0.00	0.00	1.95	(2.43)	12.03
WTS	1.26	(0.02)	0.00	(0.01)	0.00	0.00	2.25	(2.46)	10.44

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