Chardan NexTech Correlations

DFLI Stock

USD 3.90 0.44 12.72%

The current 90-days correlation between Chardan NexTech Acqu and Sunrise New Energy is 0.3 (i.e., Weak diversification). The correlation of Chardan NexTech 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.

Chardan NexTech Correlation With Market

Average diversification

The correlation between Chardan NexTech Acquisition and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chardan NexTech Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Chardan NexTech Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Chardan Stock

0.77	ELPW	Elong Power Holding	Pair Corr
0.66	EPOW	Sunrise New Energy	Pair Corr
0.78	FLUX	Flux Power Holdings	Pair Corr
0.73	LSCG	Lighting Science	Pair Corr
0.72	TMTCU	TMT Acquisition Corp	Pair Corr

Moving against Chardan Stock

0.83	BE	Bloom Energy Corp	Pair Corr
0.68	FREY	FREYR Battery SA	Pair Corr
0.63	STI	Solidion Technology Symbol Change	Pair Corr
0.56	ELVA	Electrovaya Common Shares	Pair Corr
0.56	VRT	Vertiv Holdings	Pair Corr
0.48	HAYW	Hayward Holdings Sell-off Trend	Pair Corr
0.4	NVT	nVent Electric PLC	Pair Corr
0.38	AYI	Acuity Brands	Pair Corr
0.36	EAF	GrafTech International	Pair Corr
0.31	HUBB	Hubbell	Pair Corr
0.73	NEOV	NeoVolta Common Stock	Pair Corr
0.73	MVSTW	Microvast Holdings	Pair Corr
0.7	MVST	Microvast Holdings	Pair Corr
0.7	APWC	Asia Pacific Wire	Pair Corr
0.56	PLPC	Preformed Line Products	Pair Corr
0.51	AMPX	Amprius Technologies Buyout Trend	Pair Corr
0.39	AEIS	Advanced Energy Indu	Pair Corr
0.38	XNNHQ	Xenonics Holdings	Pair Corr
0.35	TMTCR	TMT Acquisition Corp	Pair Corr

Related Correlations Analysis

	POLA	EOSE	EPOW	AFGYF	FREY	MVST	SLDP	ENVX	GWH
POLA		0.22	0.1	-0.03	-0.02	-0.11	0.02	0.42	0.26	POLA
EOSE	0.22		0.15	-0.5	-0.44	-0.4	0.12	0.75	0.51	EOSE
EPOW	0.1	0.15		0.42	-0.71	-0.7	0.66	0.14	0.05	EPOW
AFGYF	-0.03	-0.5	0.42		-0.27	-0.18	0.63	-0.43	-0.46	AFGYF
FREY	-0.02	-0.44	-0.71	-0.27		0.74	-0.73	-0.31	-0.04	FREY
MVST	-0.11	-0.4	-0.7	-0.18	0.74		-0.55	-0.31	-0.38	MVST
SLDP	0.02	0.12	0.66	0.63	-0.73	-0.55		0.12	-0.07	SLDP
ENVX	0.42	0.75	0.14	-0.43	-0.31	-0.31	0.12		0.44	ENVX
GWH	0.26	0.51	0.05	-0.46	-0.04	-0.38	-0.07	0.44		GWH
	POLA	EOSE	EPOW	AFGYF	FREY	MVST	SLDP	ENVX	GWH

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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

ENVX	+ 0.75	EOSE
MVST	+ 0.74	FREY
SLDP	+ 0.66	EPOW
SLDP	+ 0.63	AFGYF
GWH	+ 0.51	EOSE
GWH	+ 0.44	ENVX

High negative correlations

SLDP	- 0.73	FREY
FREY	- 0.71	EPOW
MVST	- 0.7	EPOW
SLDP	- 0.55	MVST
AFGYF	- 0.5	EOSE
GWH	- 0.46	AFGYF

Risk-Adjusted Indicators

There is a big difference between Chardan Stock performing well and Chardan NexTech 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 Chardan NexTech'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
POLA	5.39	0.27	0.03	1.93	5.76	(6.89)	12.77	(10.61)	45.49
EOSE	4.87	0.65	0.10	47.96	5.18	(6.02)	10.09	(7.87)	46.30
EPOW	3.50	0.20	0.02	(2.18)	3.37	(5.22)	6.60	(6.12)	19.64
AFGYF	3.31	(0.25)	0.00	0.91	0.00	0.00	9.09	(14.29)	41.56
FREY	5.56	0.33	0.19	0.17	4.87	(6.93)	13.17	(8.98)	79.43
MVST	12.61	4.56	0.57	2.60	5.49	(24.25)	13.56	(10.71)	358.33
SLDP	2.46	(0.45)	0.00	(0.17)	0.00	0.00	5.45	(6.19)	19.18
ENVX	4.23	(0.31)	(0.01)	0.02	5.59	(4.06)	9.59	(8.14)	34.07
GWH	5.60	0.02	0.03	0.14	8.08	(5.49)	11.26	(10.66)	48.03

Chardan NexTech Corporate Management

Wade Seaburg	Chief Officer	Profile
Denis Phares	Chairman, CoFounder	Profile
Tyler Bourns	Chief Officer	Profile
John MBA	Chief Officer	Profile
Dominic Sinnott	General Counsel	Profile
Nicole Harvey	Compliance Officer	Profile

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