Electrovaya Common Correlations
| ELVA Stock | 2.45 0.26 9.59% |
The current 90-days correlation between Electrovaya Common Shares and Asure Software is 0.11 (i.e., Average diversification). The correlation of Electrovaya Common 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.
Electrovaya Common Correlation With Market
Significant diversification
The correlation between Electrovaya Common Shares and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electrovaya Common Shares and DJI in the same portfolio, assuming nothing else is changed.
Electrovaya |
Moving together with Electrovaya Stock
Moving against Electrovaya Stock
Related Correlations Analysis
| -0.57 | 0.58 | 0.36 | 0.79 | 0.62 | ASUR | ||
| -0.57 | -0.46 | -0.06 | -0.4 | -0.04 | BWOFY | ||
| 0.58 | -0.46 | 0.11 | 0.74 | 0.47 | PSFE | ||
| 0.36 | -0.06 | 0.11 | 0.32 | 0.2 | MU | ||
| 0.79 | -0.4 | 0.74 | 0.32 | 0.82 | ARM | ||
| 0.62 | -0.04 | 0.47 | 0.2 | 0.82 | LASR | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Electrovaya Stock performing well and Electrovaya Common 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 Electrovaya Common'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASUR | 2.24 | 0.12 | 0.05 | 0.09 | 2.45 | 4.04 | 21.20 | |||
| BWOFY | 0.29 | (0.07) | 0.00 | 0.22 | 0.00 | 0.00 | 9.73 | |||
| PSFE | 2.58 | 0.07 | 0.01 | 0.04 | 5.50 | 4.11 | 35.03 | |||
| MU | 3.30 | (0.13) | 0.00 | (0.12) | 0.00 | 6.23 | 22.15 | |||
| ARM | 3.34 | (0.13) | 0.00 | (0.06) | 0.00 | 6.47 | 26.12 | |||
| LASR | 2.61 | (0.29) | 0.00 | (0.23) | 0.00 | 5.67 | 16.59 |
Electrovaya Common Corporate Executives
Elected by the shareholders, the Electrovaya Common's board of directors comprises two types of representatives: Electrovaya Common inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Electrovaya. The board's role is to monitor Electrovaya Common's management team and ensure that shareholders' interests are well served. Electrovaya Common's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Electrovaya Common's outside directors are responsible for providing unbiased perspectives on the board's policies.
| John Gibson | CFO Secretary | Profile | |
| Francis Gibson | CFO Secretary | Profile |