Elong Power Correlations

ELPW Stock

0.71 0.05 6.58%

The current 90-days correlation between Elong Power Holding and Bloom Energy Corp is 0.12 (i.e., Average diversification). The correlation of Elong Power 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.

Elong Power Correlation With Market

Modest diversification

The correlation between Elong Power Holding and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elong Power Holding 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 Elong Power Holding. 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.

Moving together with Elong Stock

0.76	TE	T1 Energy Symbol Change	Pair Corr
0.73	ENVX	Enovix Corp	Pair Corr
0.8	FCEL	FuelCell Energy	Pair Corr
0.63	AYI	Acuity Brands	Pair Corr
0.67	EAF	GrafTech International	Pair Corr
0.64	ESP	Espey Mfg Electronics	Pair Corr
0.88	GWH	ESS Tech	Pair Corr
0.69	NVT	nVent Electric PLC	Pair Corr
0.8	NVX	Novonix Ltd ADR	Pair Corr
0.71	XPON	Expion360	Pair Corr
0.88	STI	Solidion Technology	Pair Corr
0.67	VRT	Vertiv Holdings	Pair Corr
0.67	EOSEW	Eos Energy Enterprises	Pair Corr
0.71	HUBB	Hubbell	Pair Corr
0.75	IPWR	Ideal Power	Pair Corr
0.61	ADSEW	ADS TEC ENERGY	Pair Corr
0.67	NEOV	NeoVolta Common Stock	Pair Corr
0.73	PLUG	Plug Power	Pair Corr
0.67	POWL	Powell Industries	Pair Corr
0.79	PPSI	Pioneer Power Solutions Earnings Call This Week	Pair Corr
0.64	AMPX	Amprius Technologies	Pair Corr

Moving against Elong Stock

0.46	ENS	Enersys	Pair Corr
0.35	EPOW	Sunrise New Energy	Pair Corr
0.44	APWC	Asia Pacific Wire	Pair Corr

Related Correlations Analysis

	BE	TE	ELPW	ELVA	ENVX	EOSE	EPOW	FCEL	FLUX	ADN
BE		0.06	0.08	0.25	0.18	0.15	-0.04	0.16	0.25	0.12	BE
TE	0.06		0.76	0.24	0.66	0.53	-0.23	0.8	0.56	0.46	TE
ELPW	0.08	0.76		0.2	0.73	0.57	-0.35	0.8	0.6	0.46	ELPW
ELVA	0.25	0.24	0.2		0.4	0.46	0.09	0.08	0.66	0.39	ELVA
ENVX	0.18	0.66	0.73	0.4		0.83	0.09	0.52	0.58	0.45	ENVX
EOSE	0.15	0.53	0.57	0.46	0.83		0.03	0.31	0.59	0.41	EOSE
EPOW	-0.04	-0.23	-0.35	0.09	0.09	0.03		-0.41	-0.26	-0.1	EPOW
FCEL	0.16	0.8	0.8	0.08	0.52	0.31	-0.41		0.55	0.5	FCEL
FLUX	0.25	0.56	0.6	0.66	0.58	0.59	-0.26	0.55		0.59	FLUX
ADN	0.12	0.46	0.46	0.39	0.45	0.41	-0.1	0.5	0.59		ADN
	BE	TE	ELPW	ELVA	ENVX	EOSE	EPOW	FCEL	FLUX	ADN

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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

EOSE	+ 0.83	ENVX
FCEL	+ 0.8	TE
FCEL	+ 0.8	ELPW
ELPW	+ 0.76	TE
ENVX	+ 0.73	ELPW
ENVX	+ 0.66	TE

High negative correlations

FCEL	- 0.41	EPOW
EPOW	- 0.35	ELPW
FLUX	- 0.26	EPOW
EPOW	- 0.23	TE
ADN	- 0.1	EPOW
EPOW	- 0.04	BE

Risk-Adjusted Indicators

There is a big difference between Elong Stock performing well and Elong Power 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 Elong Power'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
BE	3.89	0.12	0.02	0.03	5.66	(4.19)	7.73	(7.00)	33.17
TE	4.94	0.11	0.01	(0.01)	5.51	(5.62)	12.10	(8.76)	30.45
ELPW	5.30	(0.31)	0.00	(0.20)	0.00	0.00	12.12	(10.11)	40.21
ELVA	3.08	0.22	0.07	0.24	3.49	(3.46)	7.54	(5.20)	17.61
ENVX	4.44	0.18	0.02	0.05	5.59	(4.52)	11.41	(8.83)	35.83
EOSE	5.20	0.82	0.13	0.20	4.90	(6.53)	13.79	(8.85)	40.49
EPOW	3.38	0.50	0.12	3.75	3.76	(4.63)	6.98	(5.26)	28.04
FCEL	4.35	(1.02)	0.00	(1.90)	0.00	0.00	11.15	(7.17)	26.50
FLUX	4.64	0.44	0.08	0.53	5.30	(5.19)	10.74	(8.70)	40.07
ADN	4.69	0.03	0.01	0.02	6.12	(4.86)	14.29	(10.31)	31.69

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