Westport Fuel Correlations

WPRT Stock

USD 2.88 0.05 1.77%

The current 90-days correlation between Westport Fuel Systems and Kandi Technologies Group is 0.2 (i.e., Modest 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

Poor diversification

The correlation between Westport Fuel Systems and DJI is 0.65 (i.e., Poor 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.

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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

0.84	PN	Skycorp Solar Group	Pair Corr
0.63	FBYD	Falcons Beyond Global,	Pair Corr
0.9	GBX	Greenbrier Companies	Pair Corr
0.7	FSTR	LB Foster	Pair Corr
0.92	TRN	Trinity Industries	Pair Corr
0.86	NNBR	NN Inc	Pair Corr
0.62	CVGI	Commercial Vehicle	Pair Corr
0.86	IP	International Paper	Pair Corr
0.63	EFOI	Energy Focu	Pair Corr
0.85	F-PB	Ford Motor	Pair Corr
0.75	F-PC	Ford Motor	Pair Corr
0.84	F-PD	F PD	Pair Corr
0.85	AIN	Albany International	Pair Corr
0.7	CYD	China Yuchai Interna	Pair Corr

Moving against Westport Stock

0.78	MPU	Mega Matrix Corp	Pair Corr
0.57	GTEC	Greenland Acquisition	Pair Corr
0.57	MVST	Microvast Holdings Aggressive Push	Pair Corr
0.55	ELPW	Elong Power Holding	Pair Corr
0.49	WBUY	WEBUY GLOBAL LTD Trending	Pair Corr
0.55	FTDR	Frontdoor	Pair Corr

Related Correlations Analysis

	FRSX	HYLN	AXL	GNTX	LAZR	QS	KNDI	AEVA	INVZ	SYPR
FRSX		0.32	0.08	0.55	0.47	0.28	0.65	-0.85	-0.5	-0.64	FRSX
HYLN	0.32		0.43	0.21	0.17	0.48	0.16	-0.14	0.13	0.06	HYLN
AXL	0.08	0.43		0.59	0.3	0.74	0.37	0.19	0.62	0.07	AXL
GNTX	0.55	0.21	0.59		0.7	0.71	0.91	-0.49	-0.05	-0.47	GNTX
LAZR	0.47	0.17	0.3	0.7		0.63	0.79	-0.59	-0.34	-0.49	LAZR
QS	0.28	0.48	0.74	0.71	0.63		0.61	-0.14	0.23	-0.09	QS
KNDI	0.65	0.16	0.37	0.91	0.79	0.61		-0.68	-0.33	-0.54	KNDI
AEVA	-0.85	-0.14	0.19	-0.49	-0.59	-0.14	-0.68		0.8	0.74	AEVA
INVZ	-0.5	0.13	0.62	-0.05	-0.34	0.23	-0.33	0.8		0.53	INVZ
SYPR	-0.64	0.06	0.07	-0.47	-0.49	-0.09	-0.54	0.74	0.53		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

KNDI	+ 0.91	GNTX
INVZ	+ 0.8	AEVA
KNDI	+ 0.79	LAZR
QS	+ 0.74	AXL
SYPR	+ 0.74	AEVA
QS	+ 0.71	GNTX

High negative correlations

AEVA	- 0.85	FRSX
AEVA	- 0.68	KNDI
SYPR	- 0.64	FRSX
AEVA	- 0.59	LAZR
SYPR	- 0.54	KNDI
INVZ	- 0.5	FRSX

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	3.17	(0.36)	0.00	(0.47)	0.00	0.00	5.71	(6.45)	17.93
HYLN	5.00	0.43	0.08	0.41	5.34	(5.96)	9.82	(7.59)	57.14
AXL	2.48	(0.14)	0.00	(0.09)	0.00	0.00	7.24	(4.66)	21.08
GNTX	1.50	(0.19)	0.00	1.76	0.00	0.00	2.50	(3.57)	9.16
LAZR	5.69	(0.32)	0.00	(0.46)	0.00	0.00	14.11	(11.98)	56.20
QS	2.92	0.06	0.02	0.05	4.22	(3.00)	5.42	(6.35)	32.78
KNDI	2.76	(0.46)	0.00	6.64	0.00	0.00	7.14	(5.81)	19.37
AEVA	6.93	3.21	0.46	(4.41)	5.43	(8.53)	17.85	(10.12)	50.24
INVZ	3.99	0.36	0.08	4.38	4.05	(4.92)	9.78	(6.76)	25.17
SYPR	2.78	0.45	0.16	3.87	2.36	(4.29)	10.74	(3.80)	26.84

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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