outlook vs expectancy

outlook and expectancy both are nouns.

Word	Noun	Adjective	Verb	Adverb
outlook	Yes	No	No	No
expectancy	Yes	No	No	No

As nouns, expectancy is a hyponym of outlook; that is, expectancy is a word with a more specific, narrower meaning than outlook:

Other hyponyms of outlook include hope, promise, foretaste, possibility, anticipation, apprehension, misgiving.

outlook (noun)	expectancy (noun)
the act of looking out	something expected (as on the basis of a norm)
belief about (or mental picture of) the future	an expectation
a habitual or characteristic mental attitude that determines how you will interpret and respond to situations