ChargePoint Holdings Correlations

CHPT Stock

USD 0.69 0 0.57%

The current 90-days correlation between ChargePoint Holdings and Pet Acquisition LLC is 0.27 (i.e., Modest diversification). The correlation of ChargePoint Holdings 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.

ChargePoint Holdings Correlation With Market

Average diversification

The correlation between ChargePoint Holdings and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChargePoint Holdings 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 ChargePoint Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

For more information on how to buy ChargePoint Stock please use our How to Invest in ChargePoint Holdings guide.

Moving together with ChargePoint Stock

0.92	ZOOZ	ZOOZ Power	Pair Corr
0.74	NVVE	Nuvve Holding Corp Earnings Call This Week	Pair Corr
0.83	CGTL	Creative Global Tech	Pair Corr
0.64	F-PB	Ford Motor	Pair Corr
0.85	F-PC	Ford Motor	Pair Corr
0.77	F-PD	F PD	Pair Corr
0.83	FIGS	Figs Inc	Pair Corr
0.63	AIN	Albany International	Pair Corr
0.63	AVY	Avery Dennison Corp	Pair Corr
0.92	DMN	Damon Common Stock	Pair Corr
0.84	ECG	Everus Construction	Pair Corr
0.66	GEF	Greif Bros	Pair Corr
0.74	HNI	HNI Corp	Pair Corr
0.9	IPW	iPower Inc	Pair Corr
0.93	IVP	Inspire Veterinary	Pair Corr
0.83	KFS	Kingsway Financial	Pair Corr
0.84	MED	MEDIFAST INC	Pair Corr
0.76	MLR	Miller Industries	Pair Corr
0.9	MMA	Alta Global Group	Pair Corr
0.89	MRM	Medirom Healthcare Earnings Call This Week	Pair Corr
0.7	NCI	Neo Concept Internat	Pair Corr

Moving against ChargePoint Stock

0.85	CYD	China Yuchai Interna	Pair Corr
0.77	CCK	Crown Holdings	Pair Corr
0.74	EFOI	Energy Focu	Pair Corr
0.7	OI	O I Glass	Pair Corr
0.39	ZOOZW	ZOOZ Power	Pair Corr
0.33	DRVN	Driven Brands Holdings	Pair Corr
0.93	ROL	Rollins Sell-off Trend	Pair Corr
0.68	KAR	KAR Auction Services	Pair Corr
0.63	BC-PA	Brunswick Corp	Pair Corr
0.55	FATBP	FAT Brands	Pair Corr
0.44	JXG	JX Luxventure Limited Symbol Change	Pair Corr
0.44	BC-PC	Brunswick Corp	Pair Corr

Related Correlations Analysis

	WOOF	ULTA	BBY	DKS	RH	AZO	WSM
WOOF		0.95	0.49	0.56	0.85	-0.86	0.36	WOOF
ULTA	0.95		0.48	0.61	0.83	-0.83	0.36	ULTA
BBY	0.49	0.48		0.77	0.72	-0.54	0.71	BBY
DKS	0.56	0.61	0.77		0.84	-0.52	0.9	DKS
RH	0.85	0.83	0.72	0.84		-0.82	0.74	RH
AZO	-0.86	-0.83	-0.54	-0.52	-0.82		-0.33	AZO
WSM	0.36	0.36	0.71	0.9	0.74	-0.33		WSM
	WOOF	ULTA	BBY	DKS	RH	AZO	WSM

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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

ULTA	+ 0.95	WOOF
WSM	+ 0.9	DKS
RH	+ 0.85	WOOF
RH	+ 0.84	DKS
RH	+ 0.83	ULTA
DKS	+ 0.77	BBY

High negative correlations

AZO	- 0.86	WOOF
AZO	- 0.83	ULTA
AZO	- 0.82	RH
AZO	- 0.54	BBY
AZO	- 0.52	DKS
WSM	- 0.33	AZO

Risk-Adjusted Indicators

There is a big difference between ChargePoint Stock performing well and ChargePoint Holdings 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 ChargePoint Holdings' 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
WOOF	2.61	(0.79)	0.00	(0.86)	0.00	0.00	4.60	(6.73)	15.42
ULTA	1.58	(0.19)	0.00	(0.23)	0.00	0.00	2.50	(3.94)	17.36
BBY	1.62	(0.14)	0.00	(0.18)	0.00	0.00	3.19	(3.22)	17.05
DKS	1.79	(0.09)	0.00	(0.13)	0.00	0.00	3.18	(4.42)	10.08
RH	2.75	(0.73)	0.00	(0.42)	0.00	0.00	3.48	(7.06)	14.65
AZO	0.95	0.13	0.14	0.24	1.07	(1.09)	2.08	(1.72)	5.90
WSM	1.92	(0.17)	0.00	(0.21)	0.00	0.00	3.45	(5.56)	10.71

ChargePoint Holdings Corporate Management

Mansi Khetani	Chief Officer	Profile
Hossein Kazemi	Chief Hardware	Profile
Michael Linse	Independent Director	Profile
Jagdeep Singh	Chief Officer	Profile
Ekta Singhbushell	Independent Director	Profile
Sherice Torres	Chief Officer	Profile
Jeffrey Harris	Independent Director	Profile

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