BorgWarner Correlations

BWA Stock

USD 29.02 0.20 0.69%

The current 90-days correlation between BorgWarner and Lear Corporation is 0.71 (i.e., Poor diversification). The correlation of BorgWarner 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.

BorgWarner Correlation With Market

Weak diversification

The correlation between BorgWarner and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BorgWarner 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 BorgWarner. 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.

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

Moving together with BorgWarner Stock

0.78	GM	General Motors Aggressive Push	Pair Corr
0.61	VC	Visteon Corp	Pair Corr
0.7	DORM	Dorman Products	Pair Corr
0.88	VLCN	Volcon Inc	Pair Corr
0.66	ECDA	ECD Automotive Design	Pair Corr
0.79	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.85	WKHS	Workhorse Group	Pair Corr
0.67	WKSP	Worksport	Pair Corr
0.87	AXL	American Axle Manufa	Pair Corr
0.9	FOXF	Fox Factory Holding	Pair Corr
0.75	GGR	Gogoro Inc	Pair Corr
0.89	HOG	Harley Davidson	Pair Corr
0.79	LOT	Lotus Technology American	Pair Corr
0.91	MGA	Magna International	Pair Corr
0.81	MOD	Modine Manufacturing	Pair Corr
0.69	XPEL	Xpel Inc	Pair Corr
0.8	SEG	Seaport Entertainment	Pair Corr
0.79	SMP	Standard Motor Products	Pair Corr

Moving against BorgWarner Stock

0.75	LI	Li Auto	Pair Corr
0.6	ECX	ECARX Holdings Class	Pair Corr
0.42	DAN	Dana Inc	Pair Corr
0.35	HMC	Honda Motor	Pair Corr
0.8	HSAI	Hesai Group American	Pair Corr
0.77	XPEV	Xpeng Inc	Pair Corr
0.68	NIU	Niu Technologies Earnings Call Tomorrow	Pair Corr
0.66	KNDI	Kandi Technologies	Pair Corr
0.47	PEV	Phoenix Motor Common	Pair Corr
0.31	FFIEW	Faraday Future Intel Symbol Change	Pair Corr

Related Correlations Analysis

	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV
LEA		0.39	0.09	0.34	0.47	0.11	0.19	0.28	0.3	0.27	LEA
ALV	0.39		0.27	0.07	0.48	0.2	0.28	0.51	0.33	0.31	ALV
FOXF	0.09	0.27		-0.58	0.69	0.94	0.69	0.71	-0.62	-0.7	FOXF
LKQ	0.34	0.07	-0.58		-0.04	-0.62	-0.26	-0.67	0.39	0.63	LKQ
VC	0.47	0.48	0.69	-0.04		0.6	0.53	0.54	-0.3	-0.23	VC
GNTX	0.11	0.2	0.94	-0.62	0.6		0.67	0.69	-0.65	-0.79	GNTX
DORM	0.19	0.28	0.69	-0.26	0.53	0.67		0.48	-0.17	-0.54	DORM
ADNT	0.28	0.51	0.71	-0.67	0.54	0.69	0.48		-0.11	-0.35	ADNT
DAN	0.3	0.33	-0.62	0.39	-0.3	-0.65	-0.17	-0.11		0.75	DAN
APTV	0.27	0.31	-0.7	0.63	-0.23	-0.79	-0.54	-0.35	0.75		APTV
	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV

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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

GNTX	+ 0.94	FOXF
APTV	+ 0.75	DAN
ADNT	+ 0.71	FOXF
VC	+ 0.69	FOXF
DORM	+ 0.69	FOXF
ADNT	+ 0.69	GNTX

High negative correlations

APTV	- 0.79	GNTX
APTV	- 0.7	FOXF
ADNT	- 0.67	LKQ
DAN	- 0.65	GNTX
GNTX	- 0.62	LKQ
DAN	- 0.62	FOXF

Risk-Adjusted Indicators

There is a big difference between BorgWarner Stock performing well and BorgWarner 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 BorgWarner'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
LEA	1.38	0.01	0.00	(0.09)	0.00	0.00	2.27	(2.86)	8.61
ALV	1.42	(0.07)	0.00	(0.17)	0.00	0.00	2.54	(3.00)	9.68
FOXF	2.03	(0.23)	0.00	(0.31)	0.00	0.00	3.00	(4.31)	15.53
LKQ	1.13	0.18	0.18	0.36	1.26	(1.25)	1.94	(2.25)	9.02
VC	1.38	(0.14)	0.00	(0.25)	0.00	0.00	2.05	(3.09)	8.41
GNTX	1.18	(0.32)	0.00	(0.60)	0.00	0.00	2.19	(2.29)	10.85
DORM	1.22	(0.09)	0.00	(0.20)	0.00	0.00	2.60	(3.19)	7.99
ADNT	2.13	(0.37)	0.00	(0.39)	0.00	0.00	3.74	(4.95)	10.62
DAN	2.18	0.32	0.11	0.13	2.44	(2.25)	5.46	(3.75)	19.62
APTV	1.14	0.18	0.14	0.15	1.37	(1.19)	2.59	(2.38)	7.37

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