BorgWarner Correlations

BWA Stock

USD 29.74 0.25 0.85%

The current 90-days correlation between BorgWarner and Lear Corporation is -0.05 (i.e., Good 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

Significant diversification

The correlation between BorgWarner and DJI is 0.04 (i.e., Significant 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

0.82	F	Ford Motor Earnings Call Tomorrow	Pair Corr
0.74	GM	General Motors	Pair Corr
0.71	VC	Visteon Corp	Pair Corr
0.84	AXL	American Axle Manufa	Pair Corr
0.91	MGA	Magna International	Pair Corr
0.77	MOD	Modine Manufacturing	Pair Corr
0.93	GNTX	Gentex	Pair Corr
0.78	MULN	Mullen Automotive	Pair Corr
0.83	ADNT	Adient PLC	Pair Corr
0.81	BC	Brunswick	Pair Corr
0.73	FL	Foot Locker Earnings Call This Week	Pair Corr

Moving against BorgWarner Stock

0.72	LI	Li Auto Upward Rally	Pair Corr
0.71	LCID	Lucid Group	Pair Corr
0.68	XPEV	Xpeng Inc Buyout Trend	Pair Corr
0.61	DAN	Dana Inc	Pair Corr
0.41	SES	SES AI Corp	Pair Corr
0.82	APTV	Aptiv PLC Sell-off Trend	Pair Corr
0.51	AN	AutoNation	Pair Corr
0.45	BH	Biglari Holdings	Pair Corr
0.35	DIBS	1StdibsCom	Pair Corr
0.78	RL	Ralph Lauren Corp	Pair Corr
0.58	IH	Ihuman Inc	Pair Corr
0.57	VNCE	Vince Holding Corp	Pair Corr
0.53	JL	J Long Group	Pair Corr

Related Correlations Analysis

	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV
LEA		0.54	0.33	0.45	0.66	0.22	0.51	0.53	0.15	0.01	LEA
ALV	0.54		0.2	0.59	0.4	0.1	0.33	0.32	0.15	0.11	ALV
FOXF	0.33	0.2		0.28	0.79	0.92	0.83	0.76	-0.79	-0.85	FOXF
LKQ	0.45	0.59	0.28		0.47	0.05	0.34	0.52	-0.19	-0.18	LKQ
VC	0.66	0.4	0.79	0.47		0.7	0.75	0.78	-0.47	-0.54	VC
GNTX	0.22	0.1	0.92	0.05	0.7		0.82	0.72	-0.73	-0.84	GNTX
DORM	0.51	0.33	0.83	0.34	0.75	0.82		0.84	-0.47	-0.73	DORM
ADNT	0.53	0.32	0.76	0.52	0.78	0.72	0.84		-0.51	-0.72	ADNT
DAN	0.15	0.15	-0.79	-0.19	-0.47	-0.73	-0.47	-0.51		0.86	DAN
APTV	0.01	0.11	-0.85	-0.18	-0.54	-0.84	-0.73	-0.72	0.86		APTV
	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.92	FOXF
APTV	+ 0.86	DAN
ADNT	+ 0.84	DORM
DORM	+ 0.83	FOXF
DORM	+ 0.82	GNTX
VC	+ 0.79	FOXF

High negative correlations

APTV	- 0.85	FOXF
APTV	- 0.84	GNTX
DAN	- 0.79	FOXF
APTV	- 0.73	DORM
DAN	- 0.73	GNTX
APTV	- 0.72	ADNT

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	1.28	0.05	0.03	0.08	1.76	(1.18)	2.31	(2.86)	7.29
ALV	1.24	0.02	0.01	0.05	1.86	(1.06)	2.47	(2.54)	7.31
FOXF	1.86	(0.29)	0.00	(0.42)	0.00	0.00	3.00	(4.37)	9.53
LKQ	1.13	0.10	0.07	0.21	1.29	(1.27)	2.19	(2.26)	8.98
VC	1.45	(0.01)	(0.01)	(0.01)	1.87	(1.50)	3.27	(3.23)	8.76
GNTX	1.15	(0.30)	0.00	(2.26)	0.00	0.00	2.19	(2.11)	11.26
DORM	1.08	(0.10)	0.00	(0.12)	0.00	0.00	2.06	(2.29)	5.07
ADNT	1.87	(0.21)	0.00	(0.35)	0.00	0.00	3.21	(4.08)	12.63
DAN	2.42	1.05	0.47	0.90	1.49	(2.90)	6.80	(3.69)	18.75
APTV	1.06	0.35	0.26	0.80	1.06	(1.21)	2.12	(2.13)	8.30

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC