EZGO Technologies Correlations

EZGO Stock

USD 0.48 0.01 2.13%

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

Significant diversification

The correlation between EZGO Technologies 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 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

0.8	BC	Brunswick	Pair Corr
0.81	DOGZ	Dogness International Earnings Call Today	Pair Corr
0.79	CCS	Century Communities	Pair Corr
0.84	DFH	Dream Finders Homes Earnings Call Today	Pair Corr
0.83	DHI	DR Horton	Pair Corr
0.85	HWH	HWH International	Pair Corr
0.88	MHO	MI Homes	Pair Corr
0.77	MPX	Marine Products	Pair Corr
0.78	PVH	PVH Corp	Pair Corr
0.81	TPH	TRI Pointe Homes	Pair Corr
0.77	UHG	United Homes Group	Pair Corr
0.84	VRA	Vera Bradley	Pair Corr
0.65	GOLF	Acushnet Holdings Corp Earnings Call Today	Pair Corr
0.66	YETI	YETI Holdings	Pair Corr
0.84	LGIH	LGI Homes	Pair Corr

Moving against EZGO Stock

0.91	VFC	VF Corporation	Pair Corr
0.84	TPR	Tapestry	Pair Corr
0.83	RL	Ralph Lauren Corp	Pair Corr
0.7	MSN	Emerson Radio	Pair Corr
0.56	GIL	Gildan Activewear	Pair Corr
0.4	MAT	Mattel Inc	Pair Corr
0.36	SKX	Skechers USA	Pair Corr
0.83	MYTE	MYT Netherlands Parent	Pair Corr
0.77	PLBY	Plby Group	Pair Corr
0.75	RCKY	Rocky Brands Earnings Call Today	Pair Corr
0.7	GOOS	Canada Goose Holdings	Pair Corr
0.68	JRSH	Jerash Holdings	Pair Corr
0.65	SONY	Sony Group Corp	Pair Corr
0.64	AREBW	American Rebel Holdings	Pair Corr
0.62	LEVI	Levi Strauss	Pair Corr
0.55	JAKK	JAKKS Pacific Earnings Call Today	Pair Corr
0.47	LANV	Lanvin Group Holdings	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	0.67	0.57	0.43	0.78	0.57	0.39	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	0.67	0.0	0.0		0.74	0.22	0.91	0.75	0.44	MPX
THO	0.0	0.57	0.0	0.0	0.74		-0.11	0.84	0.47	0.07	THO
DOOO	0.0	0.43	0.0	0.0	0.22	-0.11		0.23	0.26	0.66	DOOO
BC	0.0	0.78	0.0	0.0	0.91	0.84	0.23		0.77	0.38	BC
EVVL	0.0	0.57	0.0	0.0	0.75	0.47	0.26	0.77		0.36	EVVL
LFEV	0.0	0.39	0.0	0.0	0.44	0.07	0.66	0.38	0.36		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

BC	+ 0.91	MPX
BC	+ 0.84	THO
BC	+ 0.78	VMAR
EVVL	+ 0.77	BC
EVVL	+ 0.75	MPX
THO	+ 0.74	MPX

High negative correlations

DOOO	- 0.11	THO
LFEV	- 0.0	MCOM
EVVL	- 0.0	MCOM
BC	- 0.0	MCOM
DOOO	- 0.0	MCOM
THO	- 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FRZA	0.00	0.00	0.00	0.00	0.00	0.00
VMAR	6.19	(1.36)	(1.48)	7.34	(14.18)	65.17
FUV	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
MPX	1.53	(0.15)	(0.21)	2.97	(3.26)	12.51
THO	1.54	(0.10)	(0.10)	2.99	(2.57)	8.05
DOOO	1.95	(0.22)	(0.29)	3.49	(4.37)	14.05
BC	1.36	(0.30)	(0.26)	3.38	(2.72)	10.09
EVVL	1.19	(0.62)	(0.69)	0.00	0.00	40.00
LFEV	4.21	(0.53)	(0.48)	0.00	(15.62)	96.00

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