EZGO Technologies Correlations

EZGO Stock

USD 0.40 0.02 4.76%

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

EZGO Technologies Correlation With Market

Modest diversification

The correlation between EZGO Technologies and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EZGO Technologies 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 EZGO Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in EZGO Stock, please use our How to Invest in EZGO Technologies guide.

Moving together with EZGO Stock

0.74	UA	Under Armour C	Pair Corr
0.75	BZH	Beazer Homes USA	Pair Corr
0.62	HOV	Hovnanian Enterprises	Pair Corr
0.74	MHO	MI Homes	Pair Corr
0.63	TPH	TRI Pointe Homes	Pair Corr
0.81	GIII	G III Apparel	Pair Corr
0.71	LGIH	LGI Homes	Pair Corr
0.7	LIVE	Live Ventures	Pair Corr
0.63	ETSY	Etsy Inc	Pair Corr
0.78	XELB	Xcel Brands	Pair Corr
0.8	KIRK	Kirklands	Pair Corr
0.73	RENT	Rent the Runway	Pair Corr

Moving against EZGO Stock

0.79	JD	JD Inc Adr	Pair Corr
0.39	GIL	Gildan Activewear	Pair Corr
0.8	PDD	PDD Holdings	Pair Corr
0.77	MELI	MercadoLibre	Pair Corr
0.66	XOSWW	Xos Equity Warrants	Pair Corr
0.62	NATH	Nathans Famous	Pair Corr
0.6	YUM	Yum Brands	Pair Corr
0.49	MCD	McDonalds	Pair Corr
0.44	PZZA	Papa Johns International	Pair Corr

Related Correlations Analysis

	FRZA	VMAR	FUV	MCOM	MPX	THO	DOOO	BC	EVVL	LFEV
FRZA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	FRZA
VMAR	0.0		0.0	0.0	0.65	0.56	0.93	0.76	0.24	0.08	VMAR
FUV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FUV
MCOM	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MCOM
MPX	0.0	0.65	0.0	0.0		0.67	0.68	0.87	0.42	-0.02	MPX
THO	0.0	0.56	0.0	0.0	0.67		0.51	0.81	0.11	-0.41	THO
DOOO	0.0	0.93	0.0	0.0	0.68	0.51		0.8	0.34	0.17	DOOO
BC	0.0	0.76	0.0	0.0	0.87	0.81	0.8		0.41	-0.07	BC
EVVL	0.0	0.24	0.0	0.0	0.42	0.11	0.34	0.41		0.17	EVVL
LFEV	0.0	0.08	0.0	0.0	-0.02	-0.41	0.17	-0.07	0.17		LFEV
	FRZA	VMAR	FUV	MCOM	MPX	THO	DOOO	BC	EVVL	LFEV

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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

DOOO	+ 0.93	VMAR
BC	+ 0.87	MPX
BC	+ 0.81	THO
BC	+ 0.8	DOOO
BC	+ 0.76	VMAR
DOOO	+ 0.68	MPX

High negative correlations

LFEV	- 0.41	THO
LFEV	- 0.07	BC
LFEV	- 0.02	MPX
LFEV	- 0.0	MCOM
EVVL	- 0.0	MCOM
BC	- 0.0	MCOM

Risk-Adjusted Indicators

There is a big difference between EZGO Stock performing well and EZGO Technologies 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 EZGO Technologies' 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
FRZA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMAR	6.49	(0.73)	0.00	8.63	0.00	0.00	7.81	(14.18)	65.38
FUV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCOM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MPX	1.50	(0.15)	0.00	(0.29)	0.00	0.00	3.06	(3.26)	12.51
THO	1.92	(0.33)	0.00	(0.48)	0.00	0.00	3.61	(4.17)	18.55
DOOO	1.97	(0.43)	0.00	(0.49)	0.00	0.00	3.12	(4.37)	11.56
BC	1.54	(0.29)	0.00	(0.29)	0.00	0.00	2.70	(3.55)	9.68
EVVL	1.19	(0.62)	0.00	6.36	0.00	0.00	0.00	0.00	40.00
LFEV	9.47	3.14	0.08	0.43	9.47	(65.20)	36.00	(15.62)	230.00

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