GreenPower Correlations

GP Stock

USD 0.57 0.02 3.39%

The current 90-days correlation between GreenPower Motor and Phoenix Motor Common is 0.05 (i.e., Significant diversification). The correlation of GreenPower 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GreenPower Motor. 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 GreenPower Stock

0.75	HY	Hyster Yale Materials	Pair Corr
0.72	CAT	Caterpillar	Pair Corr
0.85	TEX	Terex	Pair Corr
0.8	WNC	Wabash National	Pair Corr
0.65	GENC	Gencor Industries Downward Rally	Pair Corr
0.85	HYFM	Hydrofarm Holdings	Pair Corr
0.75	REVG	Rev Group	Pair Corr
0.76	SHYF	Shyft Group Downward Rally	Pair Corr
0.84	CMCO	Columbus McKinnon	Pair Corr
0.85	J	Jacobs Solutions	Pair Corr
0.85	BV	BrightView Holdings	Pair Corr
0.8	BW	Babcock Wilcox Enter	Pair Corr
0.78	CW	Curtiss Wright	Pair Corr
0.81	DY	Dycom Industries	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr

Moving against GreenPower Stock

0.66	CEADW	CEA Industries Warrant	Pair Corr
0.49	DE	Deere Company	Pair Corr
0.43	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.37	TWI	Titan International	Pair Corr
0.34	ASTE	Astec Industries	Pair Corr
0.77	BZ	Kanzhun Ltd ADR	Pair Corr
0.73	SB	Safe Bulkers	Pair Corr
0.7	LZ	LegalZoom	Pair Corr
0.69	PC	Premium Catering	Pair Corr
0.67	EH	Ehang Holdings	Pair Corr
0.41	GE	GE Aerospace	Pair Corr
0.37	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	PEV	EVTV	VLCN	ZAPP	PTRA	NIU	NWTN	SOLO	WKHS	CENN
PEV		-0.35	-0.46	-0.27	0.0	0.74	-0.42	0.0	-0.58	-0.21	PEV
EVTV	-0.35		0.91	0.89	0.0	-0.66	0.88	0.0	0.9	0.67	EVTV
VLCN	-0.46	0.91		0.89	0.0	-0.71	0.78	0.0	0.85	0.8	VLCN
ZAPP	-0.27	0.89	0.89		0.0	-0.52	0.86	0.0	0.81	0.66	ZAPP
PTRA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PTRA
NIU	0.74	-0.66	-0.71	-0.52	0.0		-0.65	0.0	-0.8	-0.55	NIU
NWTN	-0.42	0.88	0.78	0.86	0.0	-0.65		0.0	0.89	0.46	NWTN
SOLO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SOLO
WKHS	-0.58	0.9	0.85	0.81	0.0	-0.8	0.89	0.0		0.63	WKHS
CENN	-0.21	0.67	0.8	0.66	0.0	-0.55	0.46	0.0	0.63		CENN
	PEV	EVTV	VLCN	ZAPP	PTRA	NIU	NWTN	SOLO	WKHS	CENN

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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

VLCN	+ 0.91	EVTV
WKHS	+ 0.9	EVTV
ZAPP	+ 0.89	EVTV
ZAPP	+ 0.89	VLCN
WKHS	+ 0.89	NWTN
NWTN	+ 0.88	EVTV

High negative correlations

WKHS	- 0.8	NIU
NIU	- 0.71	VLCN
NIU	- 0.66	EVTV
NWTN	- 0.65	NIU
WKHS	- 0.58	PEV
CENN	- 0.55	NIU

Risk-Adjusted Indicators

There is a big difference between GreenPower Stock performing well and GreenPower 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 GreenPower'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
PEV	7.54	1.63	0.19	(3.12)	6.52	(12.50)	17.31	(11.76)	120.00
EVTV	5.04	(2.14)	0.00	2.76	0.00	0.00	7.41	(13.33)	65.31
VLCN	4.44	(2.10)	0.00	1.55	0.00	0.00	6.45	(12.12)	51.00
ZAPP	4.85	(0.46)	0.00	2.02	0.00	0.00	9.43	(11.83)	54.39
PTRA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NIU	3.43	1.32	0.44	2.07	2.38	(4.32)	8.30	(4.37)	17.93
NWTN	5.51	(0.92)	0.00	(0.58)	0.00	0.00	13.11	(11.59)	45.93
SOLO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WKHS	5.19	(2.30)	0.00	(2.13)	0.00	0.00	8.58	(10.48)	39.33
CENN	3.28	(0.11)	0.00	(4.49)	0.00	0.00	7.29	(5.83)	43.00

GreenPower Corporate Management

Amber Parrish	HR Mang	Profile
Taylor Freeland	Manager Resources	Profile
Frank Zhang	Corporate Controller	Profile
Claus Tritt	Vice Sales	Profile

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