BorgWarner Correlations

BWA Stock

USD 34.28 0.11 0.32%

The current 90-days correlation between BorgWarner and Lear Corporation is 0.79 (i.e., Poor 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

Very weak diversification

The correlation between BorgWarner and DJI is 0.53 (i.e., Very weak 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

0.64	LI	Li Auto Buyout Trend	Pair Corr
0.73	MOD	Modine Manufacturing	Pair Corr
0.62	XPEV	Xpeng Inc	Pair Corr
0.72	BC	Brunswick	Pair Corr
0.68	HD	Home Depot Sell-off Trend	Pair Corr

Moving against BorgWarner Stock

0.37	VLCN	Volcon Inc	Pair Corr
0.57	VFSWW	VinFast Auto	Pair Corr
0.56	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.53	MULN	Mullen Automotive	Pair Corr
0.42	DNUT	Krispy Kreme	Pair Corr
0.32	GV	Visionary Education	Pair Corr

Related Correlations Analysis

	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV
LEA		0.01	0.82	0.81	0.66	0.0	-0.75	0.85	0.84	0.83	LEA
ALV	0.01		-0.39	0.31	0.39	0.5	0.43	-0.12	-0.14	-0.33	ALV
FOXF	0.82	-0.39		0.55	0.41	-0.14	-0.79	0.88	0.83	0.91	FOXF
LKQ	0.81	0.31	0.55		0.69	0.11	-0.37	0.57	0.58	0.48	LKQ
VC	0.66	0.39	0.41	0.69		0.61	-0.31	0.56	0.42	0.39	VC
GNTX	0.0	0.5	-0.14	0.11	0.61		0.28	0.03	-0.11	-0.15	GNTX
DORM	-0.75	0.43	-0.79	-0.37	-0.31	0.28		-0.69	-0.75	-0.9	DORM
ADNT	0.85	-0.12	0.88	0.57	0.56	0.03	-0.69		0.85	0.84	ADNT
DAN	0.84	-0.14	0.83	0.58	0.42	-0.11	-0.75	0.85		0.9	DAN
APTV	0.83	-0.33	0.91	0.48	0.39	-0.15	-0.9	0.84	0.9		APTV
	LEA	ALV	FOXF	LKQ	VC	GNTX	DORM	ADNT	DAN	APTV

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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

APTV	+ 0.91	FOXF
APTV	+ 0.9	DAN
ADNT	+ 0.88	FOXF
ADNT	+ 0.85	LEA
DAN	+ 0.85	ADNT
DAN	+ 0.84	LEA

High negative correlations

APTV	- 0.9	DORM
DORM	- 0.79	FOXF
DAN	- 0.75	DORM
DORM	- 0.75	LEA
ADNT	- 0.69	DORM
FOXF	- 0.39	ALV

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	1.48	(0.42)	0.00	(0.21)	0.00	0.00	3.00	(3.53)	9.76
ALV	1.53	(0.13)	0.00	(0.01)	0.00	0.00	2.80	(3.14)	8.85
FOXF	1.96	(0.56)	0.00	(0.17)	0.00	0.00	3.31	(4.97)	15.31
LKQ	1.07	(0.23)	0.00	(0.13)	0.00	0.00	2.60	(2.48)	7.01
VC	1.63	(0.30)	0.00	(0.11)	0.00	0.00	3.18	(4.17)	9.85
GNTX	1.14	(0.10)	0.00	(0.02)	0.00	0.00	2.24	(2.36)	7.93
DORM	1.31	0.27	0.20	0.43	0.92	(1.61)	3.10	(2.03)	14.67
ADNT	1.92	(0.37)	0.00	(0.13)	0.00	0.00	4.08	(4.22)	10.66
DAN	2.70	(0.47)	0.00	(0.05)	0.00	0.00	4.06	(5.70)	22.77
APTV	1.80	(0.52)	0.00	(0.29)	0.00	0.00	2.67	(3.49)	20.63

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