Northwest Pipe Correlations

Northwest Pipe Correlation With Market

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northwest Pipe. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index. For more information on how to buy Northwest Stock please use our How to Invest in Northwest Pipe guide.

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 PKOH + 0.78 IIIN ESAB + 0.68 MEC ROCK + 0.61 ESAB GIFI + 0.52 IIIN PKOH + 0.52 GIFI ROCK + 0.29 MEC

High negative correlations PKOH - 0.79 ESAB PKOH - 0.68 MEC MEC - 0.5 IIIN ESAB - 0.45 IIIN PKOH - 0.44 ROCK GIFI - 0.37 MEC

Risk-Adjusted Indicators

There is a big difference between Northwest Stock performing well and Northwest Pipe 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 Northwest Pipe'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.