Wabash National Correlations

WNC Stock

USD 19.61 0.09 0.46%

The current 90-days correlation between Wabash National and Rev Group is 0.55 (i.e., Very weak diversification). The correlation of Wabash National 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.

Wabash National Correlation With Market

Very weak diversification

The correlation between Wabash National and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wabash National and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Wabash Stock

0.64	KUBTY	Kubota Corp ADR	Pair Corr
0.65	ALG	Alamo Group	Pair Corr
0.65	SHYF	Shyft Group	Pair Corr

Moving against Wabash Stock

0.5	HY	Hyster Yale Materials	Pair Corr
0.47	UGRO	Urban Gro	Pair Corr
0.41	AGCO	AGCO	Pair Corr
0.42	EH	Ehang Holdings	Pair Corr
0.4	BW	Babcock Wilcox Enter	Pair Corr

Related Correlations Analysis

	REVG	GENC	ALG	CMCO	LNN	HY	TEX	OSK	ASTE	MNTX
REVG		0.68	0.75	0.68	0.6	-0.33	0.67	0.8	0.8	0.15	REVG
GENC	0.68		0.82	0.87	0.77	-0.37	0.46	0.77	0.83	0.64	GENC
ALG	0.75	0.82		0.74	0.79	-0.67	0.38	0.78	0.94	0.28	ALG
CMCO	0.68	0.87	0.74		0.71	-0.3	0.37	0.67	0.77	0.5	CMCO
LNN	0.6	0.77	0.79	0.71		-0.45	0.39	0.62	0.74	0.39	LNN
HY	-0.33	-0.37	-0.67	-0.3	-0.45		0.19	-0.39	-0.68	0.15	HY
TEX	0.67	0.46	0.38	0.37	0.39	0.19		0.65	0.41	0.23	TEX
OSK	0.8	0.77	0.78	0.67	0.62	-0.39	0.65		0.89	0.37	OSK
ASTE	0.8	0.83	0.94	0.77	0.74	-0.68	0.41	0.89		0.27	ASTE
MNTX	0.15	0.64	0.28	0.5	0.39	0.15	0.23	0.37	0.27		MNTX
	REVG	GENC	ALG	CMCO	LNN	HY	TEX	OSK	ASTE	MNTX

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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

ASTE	+ 0.94	ALG
ASTE	+ 0.89	OSK
CMCO	+ 0.87	GENC
ASTE	+ 0.83	GENC
ALG	+ 0.82	GENC
OSK	+ 0.8	REVG

High negative correlations

ASTE	- 0.68	HY
HY	- 0.67	ALG
HY	- 0.45	LNN
OSK	- 0.39	HY
HY	- 0.37	GENC
HY	- 0.33	REVG

Risk-Adjusted Indicators

There is a big difference between Wabash Stock performing well and Wabash National 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 Wabash National'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
REVG	2.28	(0.22)	(0.02)	0.02	2.75	(2.96)	6.03	(4.30)	15.31
GENC	1.50	(0.11)	(0.01)	0.06	1.75	(1.66)	3.56	(3.52)	12.08
ALG	1.46	(0.09)	(0.01)	0.07	1.51	(1.57)	2.41	(2.40)	12.83
CMCO	1.80	(0.02)	0.06	0.11	1.70	(2.03)	3.87	(2.70)	9.88
LNN	1.43	(0.08)	0.00	0.07	1.60	(1.55)	2.52	(2.37)	13.76
HY	1.91	(0.24)	0.00	(0.08)	0.00	0.00	3.61	(3.35)	20.12
TEX	1.91	(0.30)	0.00	(0.01)	0.00	0.00	4.13	(3.93)	16.23
OSK	1.52	(0.14)	(0.01)	0.05	1.84	(1.54)	2.78	(2.83)	12.69
ASTE	1.71	(0.14)	0.03	0.07	1.65	(2.13)	3.17	(2.45)	16.80
MNTX	1.66	0.46	0.21	0.68	1.13	(2.65)	0.89	(1.80)	48.84

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