Worthington Industries Correlations
| WOR Stock | USD 57.22 0.89 1.53% |
The correlation of Worthington Industries 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Worthington Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worthington Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Worthington Industries and NYA is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worthington Industries and NYA in the same portfolio, assuming nothing else is changed.
Worthington |
The ability to find closely correlated positions to Worthington Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worthington Industries 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 Worthington Industries - 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 Worthington Industries to buy it.
Moving together with Worthington Stock
| 0.67 | MLI | Mueller Industries Earnings Call This Week | PairCorr |
| 0.75 | HAYN | Haynes International Financial Report 2nd of May 2024 | PairCorr |
Moving against Worthington Stock
Related Correlations Analysis
| 0.48 | 0.84 | 0.94 | 0.87 | 0.69 | 0.86 | NWPX | ||
| 0.48 | 0.4 | 0.42 | 0.36 | 0.29 | 0.49 | IIIN | ||
| 0.84 | 0.4 | 0.88 | 0.81 | 0.54 | 0.92 | ESAB | ||
| 0.94 | 0.42 | 0.88 | 0.89 | 0.68 | 0.86 | GIFI | ||
| 0.87 | 0.36 | 0.81 | 0.89 | 0.82 | 0.73 | CMPO | ||
| 0.69 | 0.29 | 0.54 | 0.68 | 0.82 | 0.48 | MEC | ||
| 0.86 | 0.49 | 0.92 | 0.86 | 0.73 | 0.48 | MLI | ||
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Risk-Adjusted Indicators
There is a big difference between Worthington Stock performing well and Worthington Industries 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 Worthington Industries' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NWPX | 1.54 | 0.02 | 0.03 | 0.07 | 1.96 | 2.81 | 11.81 | |||
| IIIN | 1.67 | (0.24) | 0.00 | (0.06) | 0.00 | 2.39 | 11.20 | |||
| ESAB | 0.99 | 0.29 | 0.33 | 0.31 | 0.54 | 2.79 | 6.09 | |||
| GIFI | 2.63 | 0.54 | 0.16 | 0.98 | 2.89 | 5.24 | 36.84 | |||
| CMPO | 2.27 | 0.30 | 0.14 | 0.23 | 2.07 | 4.28 | 29.13 | |||
| MEC | 2.06 | (0.05) | 0.00 | 0.03 | 2.59 | 4.55 | 13.11 | |||
| MLI | 1.29 | 0.13 | 0.10 | 0.13 | 1.45 | 3.13 | 7.58 |
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Our tools can tell you how much better you can do entering a position in Worthington Industries 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.Did you try this?
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Worthington Industries Corporate Directors
Worthington Industries corporate directors refer to members of a Worthington Industries board of directors. The board of directors generally takes responsibility for the Worthington Industries' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Worthington Industries' board members must vote for the resolution. The Worthington Industries board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Kerrii Anderson | Independent Director | Profile | |
| Peter Karmanos | Independent Director | Profile | |
| John Blystone | Lead Independent Director | Profile | |
| Michael Endres | Independent Director | Profile |
Already Invested in Worthington Industries?
The danger of trading Worthington Industries is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Worthington Industries is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Worthington Industries. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Worthington Industries is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Worthington Industries is a strong investment it is important to analyze Worthington Industries' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Worthington Industries' future performance. For an informed investment choice regarding Worthington Stock, refer to the following important reports: Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Industries. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. To learn how to invest in Worthington Stock, please use our How to Invest in Worthington Industries guide.You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Worthington Stock analysis
When running Worthington Industries' price analysis, check to measure Worthington Industries' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Worthington Industries is operating at the current time. Most of Worthington Industries' value examination focuses on studying past and present price action to predict the probability of Worthington Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worthington Industries' price. Additionally, you may evaluate how the addition of Worthington Industries to your portfolios can decrease your overall portfolio volatility.
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Is Worthington Industries' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Worthington Industries. If investors know Worthington will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Worthington Industries listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.53) | Dividend Share 1.11 | Earnings Share 4.99 | Revenue Per Share 97.839 | Quarterly Revenue Growth (0.09) |
The market value of Worthington Industries is measured differently than its book value, which is the value of Worthington that is recorded on the company's balance sheet. Investors also form their own opinion of Worthington Industries' value that differs from its market value or its book value, called intrinsic value, which is Worthington Industries' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Worthington Industries' market value can be influenced by many factors that don't directly affect Worthington Industries' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Worthington Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Worthington Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Worthington Industries' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.