CBAK Energy Correlations

CBAT Stock

USD 0.88 0.02 2.78%

The current 90-days correlation between CBAK Energy Technology and Pioneer Power Solutions is 0.05 (i.e., Significant diversification). The correlation of CBAK Energy 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CBAK Energy Correlation With Market

Good diversification

The correlation between CBAK Energy Technology and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBAK Energy Technology 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 CBAK Energy Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with CBAK Stock

0.66	TE	T1 Energy Symbol Change	Pair Corr
0.66	ENVX	Enovix Corp	Pair Corr
0.71	GTI	Graphjet Technology	Pair Corr
0.7	GWH	ESS Tech	Pair Corr
0.74	NXU	Nxu Inc	Pair Corr
0.7	STI	Solidion Technology	Pair Corr
0.69	EOSEW	Eos Energy Enterprises	Pair Corr
0.64	IPWR	Ideal Power	Pair Corr

Moving against CBAK Stock

0.32	ENS	Enersys	Pair Corr
0.51	CAPTW	Captivision Warrant	Pair Corr
0.39	APWC	Asia Pacific Wire	Pair Corr

Related Correlations Analysis

	PPSI	OPTT	IPWR	XPON	POLA	LTBR	EOSE	ENS	FLUX	ENVX
PPSI		0.31	0.81	0.87	0.49	-0.6	0.4	-0.5	0.5	0.57	PPSI
OPTT	0.31		0.57	0.2	0.62	-0.01	0.59	-0.03	0.38	0.71	OPTT
IPWR	0.81	0.57		0.82	0.62	-0.42	0.73	-0.44	0.58	0.83	IPWR
XPON	0.87	0.2	0.82		0.54	-0.63	0.38	-0.58	0.43	0.54	XPON
POLA	0.49	0.62	0.62	0.54		-0.41	0.57	-0.26	0.4	0.6	POLA
LTBR	-0.6	-0.01	-0.42	-0.63	-0.41		-0.08	0.77	-0.33	-0.04	LTBR
EOSE	0.4	0.59	0.73	0.38	0.57	-0.08		-0.06	0.57	0.84	EOSE
ENS	-0.5	-0.03	-0.44	-0.58	-0.26	0.77	-0.06		-0.38	-0.11	ENS
FLUX	0.5	0.38	0.58	0.43	0.4	-0.33	0.57	-0.38		0.53	FLUX
ENVX	0.57	0.71	0.83	0.54	0.6	-0.04	0.84	-0.11	0.53		ENVX
	PPSI	OPTT	IPWR	XPON	POLA	LTBR	EOSE	ENS	FLUX	ENVX

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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

XPON	+ 0.87	PPSI
ENVX	+ 0.84	EOSE
ENVX	+ 0.83	IPWR
XPON	+ 0.82	IPWR
IPWR	+ 0.81	PPSI
ENS	+ 0.77	LTBR

High negative correlations

LTBR	- 0.63	XPON
LTBR	- 0.6	PPSI
ENS	- 0.58	XPON
ENS	- 0.5	PPSI
ENS	- 0.44	IPWR
LTBR	- 0.42	IPWR

Risk-Adjusted Indicators

There is a big difference between CBAK Stock performing well and CBAK Energy 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 CBAK Energy'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
PPSI	2.18	(0.32)	0.00	0.92	0.00	0.00	4.16	(4.61)	16.47
OPTT	9.73	1.71	0.17	2.65	8.80	(13.56)	22.97	(12.50)	117.25
IPWR	3.13	(0.46)	0.00	(0.36)	0.00	0.00	6.32	(7.43)	21.09
XPON	3.97	(0.82)	0.00	(0.78)	0.00	0.00	8.70	(7.95)	44.17
POLA	3.93	0.24	0.05	1.42	5.66	(4.72)	12.20	(5.45)	49.28
LTBR	8.93	1.85	0.20	0.77	8.40	(10.64)	29.41	(14.31)	64.27
EOSE	4.90	0.43	0.07	0.10	4.87	(6.09)	13.38	(8.85)	40.49
ENS	1.30	0.12	0.08	0.12	1.55	(1.33)	2.47	(2.66)	7.78
FLUX	4.74	0.52	0.09	0.52	5.29	(5.38)	10.74	(8.70)	40.07
ENVX	4.41	0.29	0.05	0.15	5.38	(4.52)	11.41	(8.83)	35.83

CBAK Energy Corporate Management

Xiangyu Pei	S CFO	Profile
Guosheng Wang	Consultant	Profile
Jiewei Thierry	Investor Officer	Profile
Yongbin Han	CFO Investments	Profile
Xiujun Tian	Deputy Engineer	Profile

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