Westinghouse Air Correlations

WB2 Stock

EUR 170.35 0.45 0.26%

The current 90-days correlation between Westinghouse Air Brake and Salesforce is -0.12 (i.e., Good diversification). The correlation of Westinghouse Air 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.

Westinghouse Air Correlation With Market

Good diversification

The correlation between Westinghouse Air Brake and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westinghouse Air Brake and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Westinghouse Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Westinghouse Air when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Westinghouse Air - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Westinghouse Air Brake to buy it.

Moving together with Westinghouse Stock

0.84	CY2	Canadian National Railway	Pair Corr
0.82	CXR	CSX Corporation	Pair Corr
0.75	NFS	Norfolk Southern	Pair Corr
0.75	LYV	Lundin Energy AB	Pair Corr
0.91	SWTF	Intouch Holdings Public	Pair Corr
0.64	HHX	HAMMONIA Schiffsholding	Pair Corr

Moving against Westinghouse Stock

0.81	AG9	ACTIA GROUP SA	Pair Corr
0.8	EJR	East Japan Railway	Pair Corr
0.79	JAP	Central Japan Railway	Pair Corr
0.79	RHM	Rheinmetall AG	Pair Corr
0.77	5TP	BLUE LABEL	Pair Corr
0.73	BSN	Danone SA	Pair Corr
0.72	3RE	Rejlerkoncernen AB	Pair Corr
0.65	GIS	General Mills	Pair Corr
0.61	BY6A	BYD Limited	Pair Corr
0.59	B5R	Berkeley Energia	Pair Corr
0.47	BRH	Berkshire Hathaway	Pair Corr
0.35	HCW	Welltower	Pair Corr
0.34	MRI	MTR Limited	Pair Corr
0.82	TKA	thyssenkrupp AG	Pair Corr
0.74	ROI	Rosenbauer International	Pair Corr
0.72	PKX	POSCO Holdings	Pair Corr
0.72	JYS1	JYSKE BANK	Pair Corr
0.7	KONN	Komercn banka as	Pair Corr
0.64	B4B3	Metro AG	Pair Corr
0.63	DUBA	DRDGold	Pair Corr
0.6	PEH	PEH WERTPAPIER	Pair Corr
0.52	VOL3	VOLVO -A-	Pair Corr
0.52	DBPE	Xtrackers LevDAX	Pair Corr
0.47	SLW1	Swiss Life Holding	Pair Corr
0.45	SOBA	ATT Inc	Pair Corr

Related Correlations Analysis

	FOO	6SD	WN6	F51	B2W	A35
FOO		0.78	0.87	0.56	0.9	0.52	FOO
6SD	0.78		0.56	0.31	0.87	0.28	6SD
WN6	0.87	0.56		0.75	0.76	0.62	WN6
F51	0.56	0.31	0.75		0.42	0.74	F51
B2W	0.9	0.87	0.76	0.42		0.31	B2W
A35	0.52	0.28	0.62	0.74	0.31		A35
	FOO	6SD	WN6	F51	B2W	A35

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Risk-Adjusted Indicators

There is a big difference between Westinghouse Stock performing well and Westinghouse Air 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 Westinghouse Air'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FOO	1.32	(0.35)	(1.18)	2.58	(2.83)	12.90
6SD	2.78	(0.31)	0.39	6.17	(6.45)	18.36
WN6	1.29	(0.22)	(0.48)	2.47	(2.71)	10.86
F51	2.58	(0.57)	(0.87)	4.91	(4.46)	27.99
B2W	2.89	(0.70)	(1.77)	5.26	(7.49)	22.74
A35	1.16	(0.12)	(0.31)	2.50	(2.75)	11.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Westinghouse Air without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Westinghouse Air Corporate Management

Elected by the shareholders, the Westinghouse Air's board of directors comprises two types of representatives: Westinghouse Air inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Westinghouse. The board's role is to monitor Westinghouse Air's management team and ensure that shareholders' interests are well served. Westinghouse Air's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Westinghouse Air's outside directors are responsible for providing unbiased perspectives on the board's policies.

Nicole Theophilus	Ex Officer	Profile
Pascal Schweitzer	Pres Services	Profile
John Mastalerz	Sr Officer	Profile
Kristine CFA	VP Relations	Profile
David DeNinno	Gen VP	Profile
John Olin	Ex CFO	Profile
Eric Gebhardt	Ex Officer	Profile

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