Westport Fuel Correlations

WPRT Stock

USD 3.89 0.19 5.14%

The current 90-days correlation between Westport Fuel Systems and Kandi Technologies Group is 0.01 (i.e., Significant diversification). The correlation of Westport Fuel 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.

Westport Fuel Correlation With Market

Weak diversification

The correlation between Westport Fuel Systems and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westport Fuel Systems 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 Westport Fuel Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Westport Stock

0.66	NXT	Nextracker Class A	Pair Corr
0.66	VMI	Valmont Industries	Pair Corr
0.64	IP	International Paper	Pair Corr

Moving against Westport Stock

0.58	HDL	SUPER HI INTERNATIONAL	Pair Corr
0.41	ECX	ECARX Holdings Class	Pair Corr

Related Correlations Analysis

	FRSX	HYLN	AXL	GNTX	LAZR	QS	KNDI	AEVA	INVZ	SYPR
FRSX		0.72	0.62	0.66	0.22	0.67	-0.63	0.7	0.8	0.49	FRSX
HYLN	0.72		0.87	0.88	0.25	0.7	-0.84	0.77	0.82	0.51	HYLN
AXL	0.62	0.87		0.82	0.31	0.72	-0.62	0.69	0.7	0.44	AXL
GNTX	0.66	0.88	0.82		0.09	0.54	-0.74	0.57	0.74	0.28	GNTX
LAZR	0.22	0.25	0.31	0.09		0.5	-0.11	0.49	0.35	0.4	LAZR
QS	0.67	0.7	0.72	0.54	0.5		-0.56	0.77	0.78	0.72	QS
KNDI	-0.63	-0.84	-0.62	-0.74	-0.11	-0.56		-0.63	-0.74	-0.52	KNDI
AEVA	0.7	0.77	0.69	0.57	0.49	0.77	-0.63		0.78	0.59	AEVA
INVZ	0.8	0.82	0.7	0.74	0.35	0.78	-0.74	0.78		0.67	INVZ
SYPR	0.49	0.51	0.44	0.28	0.4	0.72	-0.52	0.59	0.67		SYPR
	FRSX	HYLN	AXL	GNTX	LAZR	QS	KNDI	AEVA	INVZ	SYPR

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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	+ 0.88	HYLN
AXL	+ 0.87	HYLN
INVZ	+ 0.82	HYLN
GNTX	+ 0.82	AXL
INVZ	+ 0.8	FRSX
INVZ	+ 0.78	QS

High negative correlations

KNDI	- 0.84	HYLN
INVZ	- 0.74	KNDI
KNDI	- 0.74	GNTX
AEVA	- 0.63	KNDI
KNDI	- 0.63	FRSX
KNDI	- 0.62	AXL

Risk-Adjusted Indicators

There is a big difference between Westport Stock performing well and Westport Fuel 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 Westport Fuel'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
FRSX	7.15	0.82	0.10	0.26	6.39	(11.45)	35.87	(14.13)	63.09
HYLN	3.45	(0.69)	0.00	(0.35)	0.00	0.00	7.54	(7.05)	21.35
AXL	2.34	(0.43)	0.00	(0.49)	0.00	0.00	3.24	(4.93)	17.72
GNTX	1.22	(0.29)	0.00	(0.47)	0.00	0.00	2.19	(2.29)	10.85
LAZR	7.18	0.60	0.07	0.37	7.57	(8.44)	25.55	(12.50)	40.59
QS	3.39	(0.03)	0.00	(0.49)	0.00	0.00	7.04	(6.89)	23.51
KNDI	4.36	0.78	0.17	2.13	4.12	(5.41)	9.72	(6.52)	37.85
AEVA	4.08	0.45	0.08	0.12	4.44	(5.00)	8.46	(6.98)	34.73
INVZ	6.75	(0.30)	0.00	(0.21)	0.00	0.00	14.37	(12.12)	58.83
SYPR	5.62	0.50	0.08	1.16	5.89	(6.89)	15.09	(9.26)	76.06

Westport Fuel Corporate Management

Marco Seimandi	VP Marketing	Profile
Rohan Athaide	Compliance Assurance	Profile
Solomon Samuel	VP HR	Profile
William Larkin	Chief Officer	Profile
Tim Smith	Ex Staff	Profile
Maurizio Grando	Executive Group	Profile

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