AYRO Correlations

AYRO Stock

USD 0.51 0.01 1.92%

The current 90-days correlation between AYRO Inc and Workhorse Group is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AYRO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AYRO Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AYRO Correlation With Market

Average diversification

The correlation between AYRO Inc and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AYRO Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AYRO Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with AYRO Stock

0.67	GM	General Motors	Pair Corr
0.65	QS	Quantumscape Corp Aggressive Push	Pair Corr
0.83	VLCN	Volcon Inc	Pair Corr
0.82	ECDA	ECD Automotive Design	Pair Corr
0.82	EVTV	Envirotech Vehicles Earnings Call This Week	Pair Corr
0.87	WKHS	Workhorse Group	Pair Corr
0.77	WKSP	Worksport	Pair Corr
0.82	AXL	American Axle Manufa	Pair Corr
0.8	BWA	BorgWarner	Pair Corr
0.78	FOXF	Fox Factory Holding	Pair Corr
0.76	GGR	Gogoro Inc	Pair Corr
0.82	HOG	Harley Davidson	Pair Corr
0.86	LOT	Lotus Technology American	Pair Corr
0.82	MGA	Magna International	Pair Corr
0.83	MOD	Modine Manufacturing	Pair Corr
0.74	XPEL	Xpel Inc	Pair Corr
0.87	SEG	Seaport Entertainment	Pair Corr
0.77	SMP	Standard Motor Products	Pair Corr

Moving against AYRO Stock

0.77	LI	Li Auto	Pair Corr
0.61	ECX	ECARX Holdings Class	Pair Corr
0.48	DAN	Dana Inc	Pair Corr
0.4	HMC	Honda Motor	Pair Corr
0.86	XPEV	Xpeng Inc	Pair Corr
0.79	NIU	Niu Technologies Earnings Call Tomorrow	Pair Corr
0.79	KNDI	Kandi Technologies	Pair Corr
0.76	HSAI	Hesai Group American	Pair Corr
0.4	PEV	Phoenix Motor Common	Pair Corr
0.38	FFIEW	Faraday Future Intel Symbol Change	Pair Corr

Related Correlations Analysis

	WKHS	FSR	GOEV	RIDE	VEV	BLBD	PTRA	SOLO	LI	MULN
WKHS		0.0	0.93	0.0	0.0	0.84	0.0	0.0	-0.68	0.92	WKHS
FSR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FSR
GOEV	0.93	0.0		0.0	0.0	0.76	0.0	0.0	-0.6	0.94	GOEV
RIDE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RIDE
VEV	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	VEV
BLBD	0.84	0.0	0.76	0.0	0.0		0.0	0.0	-0.74	0.74	BLBD
PTRA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PTRA
SOLO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SOLO
LI	-0.68	0.0	-0.6	0.0	0.0	-0.74	0.0	0.0		-0.58	LI
MULN	0.92	0.0	0.94	0.0	0.0	0.74	0.0	0.0	-0.58		MULN
	WKHS	FSR	GOEV	RIDE	VEV	BLBD	PTRA	SOLO	LI	MULN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MULN	+ 0.94	GOEV
GOEV	+ 0.93	WKHS
MULN	+ 0.92	WKHS
BLBD	+ 0.84	WKHS
BLBD	+ 0.76	GOEV
MULN	+ 0.74	BLBD

High negative correlations

LI	- 0.74	BLBD
LI	- 0.68	WKHS
LI	- 0.6	GOEV
MULN	- 0.58	LI
MULN	- 0.0	SOLO
LI	- 0.0	SOLO

Risk-Adjusted Indicators

There is a big difference between AYRO Stock performing well and AYRO 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 AYRO'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
WKHS	4.99	(2.51)	0.00	(2.21)	0.00	0.00	8.42	(10.56)	39.45
FSR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GOEV	11.78	(4.80)	0.00	489.24	0.00	0.00	33.20	(29.17)	107.21
RIDE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLBD	2.37	(0.10)	0.00	(0.35)	0.00	0.00	4.10	(4.73)	15.24
PTRA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SOLO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LI	3.17	0.31	0.09	0.55	3.58	(3.44)	6.20	(4.93)	24.14
MULN	10.80	(6.48)	0.00	(4.19)	0.00	0.00	14.58	(27.78)	97.92

AYRO Corporate Management

Joseph III	Vice Relations	Profile
David Hollingsworth	Interim Officer	Profile
Rodney Keller	Consultant	Profile
Thomas Wittenschlaeger	CEO Director	Profile
Joseph Ramelli	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC