HYZON Motors Correlations

Summary

HYZNWDelisted Stock

USD 0 0.0009 42.86%

The correlation of HYZON Motors 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.

HYZON Motors Correlation With Market

Average diversification

The correlation between HYZON Motors and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HYZON Motors 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with HYZON Stock

0.71	BWA	BorgWarner	Pair Corr
0.79	FOXF	Fox Factory Holding Buyout Trend	Pair Corr
0.71	MGA	Magna International	Pair Corr
0.67	MLR	Miller Industries Earnings Call This Week	Pair Corr
0.65	SAG	SAG Holdings Limited	Pair Corr
0.79	SRI	Stoneridge Trending	Pair Corr
0.73	SUP	Superior Industries Earnings Call This Week	Pair Corr
0.78	GNTX	Gentex	Pair Corr
0.74	HYLN	Hyliion Holdings Corp	Pair Corr
0.82	HYZN	Hyzon Motors	Pair Corr
0.66	LAZR	Luminar Technologies	Pair Corr
0.76	MNRO	Monro Muffler Brake	Pair Corr

Moving against HYZON Stock

0.83	DAN	Dana Inc Sell-off Trend	Pair Corr
0.68	GTX	Garrett Motion	Pair Corr
0.35	LKQ	LKQ Corporation	Pair Corr
0.7	HSAI	Hesai Group American Sell-off Trend	Pair Corr
0.61	ECXWW	ECARX Holdings Warrants	Pair Corr
0.51	XOSWW	Xos Equity Warrants	Pair Corr
0.45	MPAA	Motorcar Parts	Pair Corr
0.38	KNDI	Kandi Technologies	Pair Corr

Related Correlations Analysis

	FFIEW	NNAVW	NRACW	VIIAW	IINNW
FFIEW		-0.48	0.0	0.0	-0.35	FFIEW
NNAVW	-0.48		0.0	0.0	0.04	NNAVW
NRACW	0.0	0.0		0.0	0.0	NRACW
VIIAW	0.0	0.0	0.0		0.0	VIIAW
IINNW	-0.35	0.04	0.0	0.0		IINNW
	FFIEW	NNAVW	NRACW	VIIAW	IINNW

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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

IINNW	+ 0.04	NNAVW
NRACW	+ 0.0	FFIEW
VIIAW	+ 0.0	FFIEW
NRACW	+ 0.0	NNAVW
VIIAW	+ 0.0	NNAVW
VIIAW	+ 0.0	NRACW

High negative correlations

NNAVW	- 0.48	FFIEW
IINNW	- 0.35	FFIEW
IINNW	- 0.0	VIIAW
IINNW	- 0.0	NRACW
VIIAW	- 0.0	NRACW
VIIAW	- 0.0	NNAVW

Risk-Adjusted Indicators

There is a big difference between HYZON Stock performing well and HYZON Motors 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 HYZON Motors' 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
FFIEW	12.73	3.22	0.30	(0.87)	9.26	(17.88)	28.68	(21.27)	178.68
NNAVW	4.74	(0.67)	0.00	(0.81)	0.00	0.00	9.86	(9.57)	34.32
NRACW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VIIAW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IINNW	10.56	0.36	0.02	(0.67)	12.75	(19.73)	31.58	(25.93)	120.00

HYZON Motors Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with HYZON Motors stock to make a market-neutral strategy. Peer analysis of HYZON Motors could also be used in its relative valuation, which is a method of valuing HYZON Motors by comparing valuation metrics with similar companies.

Faraday Future Intelligent NextNav Warrant Noble Rock Acquisition 7GC Co Holdings Inspira Technologies Oxy American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

HYZON Motors Corporate Management

JiaJia Wu	Senior Accounting	Profile
Stephen Weiland	Chief Officer	Profile
George Gu	CoFounder Chairman	Profile
Max Holthausen	Managing Europe	Profile
Christian Mohrdieck	Chief Officer	Profile
Craig Knight	CEO CoFounder	Profile

Still Interested in HYZON Motors?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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