Westport Fuel Correlations

WPRT Stock  USD 5.95  0.15  2.46%   
The current 90-days correlation between Westport Fuel Systems and Kandi Technologies Group is -0.03 (i.e., Good 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

Modest diversification

The correlation between Westport Fuel Systems and DJI is 0.22 (i.e., Modest 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.

Related Correlations Analysis

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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   
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High negative correlations   
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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FRSX  2.11 (0.17) 0.00 (6.39) 0.00 
 4.35 
 13.97 
HYLN  3.67  0.69  0.21  0.37  3.34 
 8.16 
 27.26 
AXL  1.66 (0.11)(0.04) 0.00  2.21 
 2.90 
 8.32 
GNTX  0.83 (0.09) 0.00 (0.02) 0.00 
 1.70 
 4.15 
LAZR  4.51  0.37  0.08  0.30  5.39 
 12.00 
 32.56 
QS  3.31  0.56  0.21  0.39  2.52 
 6.03 
 36.66 
KNDI  2.32 (0.27) 0.00 (0.68) 0.00 
 5.45 
 14.77 
AEVA  3.62  0.00  0.01  0.09  4.25 
 10.32 
 22.32 
INVZ  3.83 (0.41) 0.00 (0.14) 0.00 
 8.14 
 26.09 
SYPR  1.92  0.25  0.02 (0.14) 2.50 
 3.21 
 16.13 

Westport Fuel Corporate Management