GreenPower Correlations

GP Stock

USD 0.63 0.08 11.27%

The current 90-days correlation between GreenPower Motor and Phoenix Motor Common is 0.01 (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.

GreenPower Correlation With Market

Significant diversification

The correlation between GreenPower Motor and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GreenPower Motor and DJI in the same portfolio, assuming nothing else is changed.

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

0.64	CAT	Caterpillar	Pair Corr
0.67	TEX	Terex	Pair Corr
0.66	WNC	Wabash National	Pair Corr
0.75	PCAR	PACCAR Inc	Pair Corr
0.63	ASTE	Astec Industries Earnings Call Tomorrow	Pair Corr
0.64	BV	BrightView Holdings	Pair Corr

Moving against GreenPower Stock

0.48	CEAD	CEA Industries	Pair Corr
0.46	CEADW	CEA Industries Warrant	Pair Corr
0.34	TWI	Titan International Earnings Call Tomorrow	Pair Corr
0.58	BA	Boeing	Pair Corr
0.49	EH	Ehang Holdings	Pair Corr
0.4	BZ	Kanzhun Ltd ADR	Pair Corr
0.34	LZ	LegalZoom	Pair Corr
0.31	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	PEV	EVTV	VLCN	ZAPP	PTRA	NIU	NWTN	SOLO	WKHS	CENN
PEV		0.32	0.05	0.33	0.0	0.08	0.35	0.0	0.45	0.12	PEV
EVTV	0.32		0.86	0.89	0.0	-0.74	0.87	0.0	0.92	0.76	EVTV
VLCN	0.05	0.86		0.83	0.0	-0.85	0.72	0.0	0.73	0.81	VLCN
ZAPP	0.33	0.89	0.83		0.0	-0.59	0.91	0.0	0.92	0.72	ZAPP
PTRA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PTRA
NIU	0.08	-0.74	-0.85	-0.59	0.0		-0.54	0.0	-0.52	-0.68	NIU
NWTN	0.35	0.87	0.72	0.91	0.0	-0.54		0.0	0.91	0.55	NWTN
SOLO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SOLO
WKHS	0.45	0.92	0.73	0.92	0.0	-0.52	0.91	0.0		0.73	WKHS
CENN	0.12	0.76	0.81	0.72	0.0	-0.68	0.55	0.0	0.73		CENN
	PEV	EVTV	VLCN	ZAPP	PTRA	NIU	NWTN	SOLO	WKHS	CENN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

WKHS	+ 0.92	EVTV
WKHS	+ 0.92	ZAPP
NWTN	+ 0.91	ZAPP
WKHS	+ 0.91	NWTN
ZAPP	+ 0.89	EVTV
NWTN	+ 0.87	EVTV

High negative correlations

NIU	- 0.85	VLCN
NIU	- 0.74	EVTV
CENN	- 0.68	NIU
NIU	- 0.59	ZAPP
NWTN	- 0.54	NIU
WKHS	- 0.52	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	6.13	0.63	0.07	0.35	6.52	(9.83)	9.38	(15.00)	120.00
EVTV	4.75	(1.92)	0.00	0.71	0.00	0.00	6.94	(13.04)	65.31
VLCN	4.55	(1.88)	0.00	(10.96)	0.00	0.00	7.51	(10.38)	61.63
ZAPP	4.55	(0.98)	0.00	(0.83)	0.00	0.00	7.75	(11.83)	54.39
PTRA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NIU	2.62	0.27	0.09	3.63	2.88	(2.99)	5.63	(4.05)	12.26
NWTN	4.87	(0.59)	0.00	(0.68)	0.00	0.00	13.11	(10.08)	52.36
SOLO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WKHS	4.57	(1.26)	0.00	(1.65)	0.00	0.00	8.16	(8.06)	24.58
CENN	2.17	(0.67)	0.00	(1.75)	0.00	0.00	4.03	(5.15)	25.98

GreenPower Corporate Management

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC