Cenntro Electric Correlations

CENN Stock

USD 0.88 0.04 4.35%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cenntro Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cenntro Electric Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cenntro Electric Correlation With Market

Good diversification

The correlation between Cenntro Electric Group and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cenntro Electric Group 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 Cenntro Electric Group. 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.

Moving together with Cenntro Stock

0.72	BWA	BorgWarner	Pair Corr
0.7	MGA	Magna International	Pair Corr
0.8	MOD	Modine Manufacturing	Pair Corr
0.68	GNTX	Gentex	Pair Corr
0.82	INVZ	Innoviz Technologies	Pair Corr
0.64	RIVN	Rivian Automotive Aggressive Push	Pair Corr
0.67	TSLA	Tesla Inc Buyout Trend	Pair Corr
0.61	BC	Brunswick	Pair Corr
0.61	RH	RH Earnings Call Tomorrow	Pair Corr
0.76	UA	Under Armour C	Pair Corr
0.82	DOOO	BRP Inc Earnings Call Tomorrow	Pair Corr
0.65	VSCO	Victorias Secret	Pair Corr
0.62	EEIQ	Elite Education Group	Pair Corr

Moving against Cenntro Stock

0.77	LI	Li Auto	Pair Corr
0.65	JD	JD Inc Adr	Pair Corr
0.57	XOSWW	Xos Equity Warrants	Pair Corr
0.56	APTV	Aptiv PLC	Pair Corr
0.47	DAN	Dana Inc	Pair Corr
0.47	IH	Ihuman Inc	Pair Corr
0.69	EVRI	Everi Holdings	Pair Corr
0.67	VIPS	Vipshop Holdings	Pair Corr
0.63	AZO	AutoZone	Pair Corr
0.59	VSTA	Vasta Platform	Pair Corr
0.59	ADT	ADT Inc	Pair Corr
0.56	AGS	PlayAGS	Pair Corr
0.5	CDROW	Codere Online Luxembourg	Pair Corr

Related Correlations Analysis

	MULN	GOEV	ARVL	RIDE	HYZN	AYRO	WKHS	FSR	FFIE
MULN		0.92	0.0	0.0	0.65	0.84	0.86	0.0	0.12	MULN
GOEV	0.92		0.0	0.0	0.71	0.87	0.86	0.0	0.26	GOEV
ARVL	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	ARVL
RIDE	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	RIDE
HYZN	0.65	0.71	0.0	0.0		0.81	0.8	0.0	0.14	HYZN
AYRO	0.84	0.87	0.0	0.0	0.81		0.92	0.0	0.27	AYRO
WKHS	0.86	0.86	0.0	0.0	0.8	0.92		0.0	0.35	WKHS
FSR	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FSR
FFIE	0.12	0.26	0.0	0.0	0.14	0.27	0.35	0.0		FFIE
	MULN	GOEV	ARVL	RIDE	HYZN	AYRO	WKHS	FSR	FFIE

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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

GOEV	+ 0.92	MULN
WKHS	+ 0.92	AYRO
AYRO	+ 0.87	GOEV
WKHS	+ 0.86	MULN
WKHS	+ 0.86	GOEV
AYRO	+ 0.84	MULN

High negative correlations

FFIE	- 0.0	FSR
FSR	- 0.0	WKHS
FSR	- 0.0	AYRO
FSR	- 0.0	HYZN
FFIE	- 0.0	RIDE
FSR	- 0.0	RIDE

Risk-Adjusted Indicators

There is a big difference between Cenntro Stock performing well and Cenntro Electric 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 Cenntro Electric'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
MULN	11.10	(7.25)	0.00	(5.07)	0.00	0.00	14.58	(27.78)	97.92
GOEV	11.78	(4.66)	0.00	(1.35)	0.00	0.00	33.20	(29.17)	107.21
ARVL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RIDE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HYZN	4.46	(1.33)	0.00	2.67	0.00	0.00	9.58	(10.53)	44.94
AYRO	3.29	(0.61)	0.00	(0.69)	0.00	0.00	7.27	(7.14)	24.60
WKHS	5.16	(2.14)	0.00	(1.93)	0.00	0.00	8.58	(9.36)	39.33
FSR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FFIE	8.32	0.99	0.11	0.86	8.25	(11.93)	21.23	(13.82)	103.41

Cenntro Electric Corporate Management

Tony Tsai	VP Secretary	Profile
Peter Wang	MD CEO	Profile
Wei Zhong	Chief Officer	Profile
Ming He	Treasurer	Profile
Marianne McInerney	Ex Officer	Profile
Mathew Zauner	Corporate Secretary	Profile

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