Wabash National Correlations

WNC Stock

USD 9.69 0.23 2.32%

The current 90-days correlation between Wabash National and Shyft Group is 0.06 (i.e., Significant diversification). The correlation of Wabash National 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.

Wabash National Correlation With Market

Modest diversification

The correlation between Wabash National and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wabash National and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Wabash Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wabash National. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Wabash Stock refer to our How to Trade Wabash Stock guide.

Moving together with Wabash Stock

0.65	OSK	Oshkosh	Pair Corr
0.79	TWI	Titan International	Pair Corr
0.62	REVG	Rev Group	Pair Corr
0.68	SHYF	Shyft Group Earnings Call This Week	Pair Corr
0.62	DIST	Distoken Acquisition	Pair Corr
0.7	BE	Bloom Energy Corp	Pair Corr

Moving against Wabash Stock

0.59	GP	GreenPower Motor	Pair Corr
0.35	UGRO	Urban Gro	Pair Corr
0.67	NL	NL Industries	Pair Corr
0.66	PC	Premium Catering	Pair Corr
0.43	RR	Richtech Robotics Class Aggressive Push	Pair Corr

Related Correlations Analysis

	SHYF	TWI	MTW	OSK	TEX	FSS	WERN	SXI	SMP
SHYF		0.9	0.83	0.92	0.76	0.85	0.53	0.64	0.77	SHYF
TWI	0.9		0.81	0.9	0.73	0.84	0.61	0.71	0.76	TWI
MTW	0.83	0.81		0.94	0.98	0.97	0.41	0.86	0.95	MTW
OSK	0.92	0.9	0.94		0.92	0.96	0.52	0.81	0.91	OSK
TEX	0.76	0.73	0.98	0.92		0.95	0.33	0.87	0.95	TEX
FSS	0.85	0.84	0.97	0.96	0.95		0.32	0.9	0.97	FSS
WERN	0.53	0.61	0.41	0.52	0.33	0.32		0.24	0.24	WERN
SXI	0.64	0.71	0.86	0.81	0.87	0.9	0.24		0.91	SXI
SMP	0.77	0.76	0.95	0.91	0.95	0.97	0.24	0.91		SMP
	SHYF	TWI	MTW	OSK	TEX	FSS	WERN	SXI	SMP

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Risk-Adjusted Indicators

There is a big difference between Wabash Stock performing well and Wabash National 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 Wabash National'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
SHYF	2.93	0.45	0.14	0.50	3.13	(3.35)	5.04	(6.16)	32.72
TWI	2.83	0.20	0.10	0.23	2.86	(3.54)	8.40	(3.86)	19.44
MTW	2.16	0.53	0.31	0.41	1.61	(2.70)	4.70	(2.64)	21.44
OSK	1.53	0.40	0.27	0.45	1.10	(1.90)	4.11	(1.90)	10.24
TEX	2.21	0.30	0.20	0.29	1.83	(2.74)	5.42	(2.81)	14.95
FSS	1.27	0.41	0.31	0.53	0.86	(1.58)	3.44	(2.00)	10.24
WERN	1.83	(0.17)	0.00	(0.01)	0.00	0.00	4.19	(2.86)	14.28
SXI	1.62	(0.01)	0.02	0.12	1.75	(1.73)	3.09	(3.05)	12.94
SMP	1.49	0.40	0.22	0.54	1.30	(1.68)	3.37	(2.84)	15.20

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