Carlos Corberán believes there wasn't too much between the two teams on Sunday lunchtime but admitted Wolves' "accuracy" in front of goal won them the tie.
The Baggies went toe-to-toe with their neighbours, but exited the Emirates FA Cup following a first-half strike from Portugal international Pedro Neto and a second effort after the break which was scored by Brazil forward Matheus Cunha.
The boss says his side managed aspects of the encounter well, but also accepted there were others which could've been handled better.
Carlos said: "It’s a disappointing day.
"The atmosphere our fans created for the derby was special.
"We wanted to compete to our best level and I think the game was very balanced.
"We did enough things to win the game and they did enough things to win the game. The difference today was the team with more impact and more accuracy in the boxes.
"We managed all the other aspects very well. They had three big chances and they scored two goals. We had the opportunities but unfortunately we didn’t use them well.
"I think I know that our team is able to compete against any team, but at the same, we need to fix some of the things we can do better in the game.
"We can’t just be ready to compete. We have to be ready to win the football games.
"One of these aspects was the first goal. Instead of using our corner to create a chance for ourselves, we did something which allowed the opponent to score the first goal.
"It’s these details which allow you to compete and win football games.
"It was a pity to have the incident towards the end because our fans had created before it in the build up and in the game the itself was special.
"We’re disappointed that incident has happened today.
"When the game is interrupted you are always going to get cold and a restart is not easy.
"We went out with the idea to create chances and we did that. Unfortunately, we couldn’t take them and that may have changed the feeling for the last minutes of the game."
