Woodward Correlations

WWD Stock

USD 184.74 2.42 1.33%

The current 90-days correlation between Woodward and Hexcel is 0.55 (i.e., Very weak diversification). The correlation of Woodward 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.

Woodward Correlation With Market

Very weak diversification

The correlation between Woodward and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Woodward 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 Woodward. 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 Woodward Stock refer to our How to Trade Woodward Stock guide.

Moving together with Woodward Stock

0.78	GE	GE Aerospace	Pair Corr
0.67	PL	Planet Labs PBC Earnings Call This Week	Pair Corr
0.72	AIR	AAR Corp Earnings Call Today	Pair Corr
0.81	HWM	Howmet Aerospace	Pair Corr
0.63	SPR	Spirit Aerosystems	Pair Corr

Moving against Woodward Stock

0.49	DPRO	Draganfly Earnings Call This Week	Pair Corr
0.48	EVTL	Vertical Aerospace	Pair Corr
0.48	LMT	Lockheed Martin	Pair Corr
0.37	KWE	KWESST Micro Systems	Pair Corr
0.36	GD	General Dynamics	Pair Corr
0.32	HII	Huntington Ingalls	Pair Corr
0.47	OPXS	Optex Systems Holdings,	Pair Corr
0.39	MNTS	Momentus	Pair Corr
0.34	HOVR	New Horizon Aircraft	Pair Corr

Related Correlations Analysis

	HXL	DCO	MRCY	AIR	CW	KAMN	MOG-A	MOG-B
HXL		0.81	-0.07	0.47	0.66	0.0	0.59	0.5	HXL
DCO	0.81		0.0	0.65	0.68	0.0	0.61	0.45	DCO
MRCY	-0.07	0.0		0.32	-0.35	0.0	-0.33	-0.49	MRCY
AIR	0.47	0.65	0.32		0.27	0.0	0.25	0.11	AIR
CW	0.66	0.68	-0.35	0.27		0.0	0.92	0.86	CW
KAMN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	KAMN
MOG-A	0.59	0.61	-0.33	0.25	0.92	0.0		0.91	MOG-A
MOG-B	0.5	0.45	-0.49	0.11	0.86	0.0	0.91		MOG-B
	HXL	DCO	MRCY	AIR	CW	KAMN	MOG-A	MOG-B

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MOG-A	+ 0.92	CW
MOG-B	+ 0.91	MOG-A
MOG-B	+ 0.86	CW
DCO	+ 0.81	HXL
CW	+ 0.68	DCO
CW	+ 0.66	HXL

High negative correlations

MOG-B	- 0.49	MRCY
CW	- 0.35	MRCY
MOG-A	- 0.33	MRCY
MRCY	- 0.07	HXL
MOG-B	- 0.0	KAMN
MOG-A	- 0.0	KAMN

Risk-Adjusted Indicators

There is a big difference between Woodward Stock performing well and Woodward 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 Woodward'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
HXL	1.34	(0.03)	0.00	(0.12)	0.00	0.00	2.34	(3.25)	7.60
DCO	1.31	0.01	0.00	(0.06)	0.00	0.00	2.20	(2.93)	12.89
MRCY	1.98	0.44	0.19	0.30	1.96	(2.24)	3.62	(3.77)	23.60
AIR	1.29	0.10	0.08	0.09	1.75	(1.24)	2.30	(2.75)	12.14
CW	1.59	(0.05)	0.00	(0.14)	0.00	0.00	3.08	(4.36)	16.04
KAMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOG-A	1.60	(0.15)	0.00	(0.24)	0.00	0.00	2.35	(4.21)	11.03
MOG-B	1.39	(0.30)	0.00	1.15	0.00	0.00	3.24	(5.03)	13.83

Woodward Corporate Management

Christopher Fawzy	Chief Compliance Officer, Corporate VP, General Counsel and Corporate Secretary	Profile
Mark Hartman	Chief Officer	Profile
Paul Benson	Corporate Resources	Profile
Randy Hobbs	Pres Segment	Profile
John Godsman	Executive Development	Profile

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