Westinghouse Air Correlations

Stocks . Germany . 
Stock . Westinghouse Air Brake
WB2 Stock  EUR 181.00  1.00  0.56%   
The current 90-days correlation between Westinghouse Air Brake and Astral Foods Limited is 0.07 (i.e., Significant diversification). The correlation of Westinghouse Air 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.

Westinghouse Air Correlation With Market

Modest diversification

The correlation between Westinghouse Air Brake and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westinghouse Air Brake and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Westinghouse Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Westinghouse Air 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 Westinghouse Air - 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 Westinghouse Air Brake to buy it.

Moving together with Westinghouse Stock

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Moving against Westinghouse Stock

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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   
WSV2
+ 0.92
39M
AZU
+ 0.87
AZU
AZU
+ 0.85
UN9
WSV2
+ 0.82
UN9
39M
+ 0.8
UN9
AZU
+ 0.79
A9U
  
High negative correlations   
AZU
- 0.22
S49
S49
- 0.18
A9U
AZU
- 0.1
S49
AZU
- 0.0
P0D0
WSV2
- 0.0
P0D0
AZU
- 0.0
P0D0

Risk-Adjusted Indicators

There is a big difference between Westinghouse Stock performing well and Westinghouse Air 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 Westinghouse Air'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Westinghouse Air 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.

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Westinghouse Air Corporate Management

Elected by the shareholders, the Westinghouse Air's board of directors comprises two types of representatives: Westinghouse Air inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Westinghouse. The board's role is to monitor Westinghouse Air's management team and ensure that shareholders' interests are well served. Westinghouse Air's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Westinghouse Air's outside directors are responsible for providing unbiased perspectives on the board's policies.
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