Ideanomics Correlations

Summary

IDEXDelisted Stock

USD 0.71 0.09 11.25%

The current 90-days correlation between Ideanomics and Lightning EMotors is 0.01 (i.e., Significant diversification). The correlation of Ideanomics 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.

Ideanomics Correlation With Market

Good diversification

The correlation between Ideanomics and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ideanomics 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 income.

Moving together with Ideanomics Stock

0.64	GP	GreenPower Motor	Pair Corr
0.62	CEAD	CEA Industries	Pair Corr

Moving against Ideanomics Stock

0.41	OSK	Oshkosh	Pair Corr
0.4	ALG	Alamo Group	Pair Corr
0.52	AGFY	Agrify Corp Trending	Pair Corr
0.47	ASTE	Astec Industries	Pair Corr
0.47	SHYF	Shyft Group	Pair Corr
0.42	REVG	Rev Group Fiscal Year End 11th of December 2024	Pair Corr
0.42	G	Genpact Limited	Pair Corr
0.37	AL	Air Lease	Pair Corr
0.63	HI	Hillenbrand	Pair Corr
0.49	BE	Bloom Energy Corp	Pair Corr

Related Correlations Analysis

	DE	CAT	ZEV	LEV	XOS	NKLA	WNC	HYFM	HIPH	TWI
DE		0.7	-0.36	-0.54	-0.49	-0.6	0.02	0.54	-0.15	-0.32	DE
CAT	0.7		-0.48	-0.55	-0.48	-0.66	-0.12	0.29	-0.27	-0.61	CAT
ZEV	-0.36	-0.48		0.26	0.44	0.56	0.48	-0.3	0.29	0.72	ZEV
LEV	-0.54	-0.55	0.26		0.55	0.86	-0.23	0.15	-0.18	0.52	LEV
XOS	-0.49	-0.48	0.44	0.55		0.69	0.23	-0.08	0.11	0.6	XOS
NKLA	-0.6	-0.66	0.56	0.86	0.69		-0.01	-0.09	-0.04	0.7	NKLA
WNC	0.02	-0.12	0.48	-0.23	0.23	-0.01		-0.24	0.33	0.52	WNC
HYFM	0.54	0.29	-0.3	0.15	-0.08	-0.09	-0.24		-0.28	-0.08	HYFM
HIPH	-0.15	-0.27	0.29	-0.18	0.11	-0.04	0.33	-0.28		0.13	HIPH
TWI	-0.32	-0.61	0.72	0.52	0.6	0.7	0.52	-0.08	0.13		TWI
	DE	CAT	ZEV	LEV	XOS	NKLA	WNC	HYFM	HIPH	TWI

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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

NKLA	+ 0.86	LEV
TWI	+ 0.72	ZEV
CAT	+ 0.7	DE
TWI	+ 0.7	NKLA
NKLA	+ 0.69	XOS
TWI	+ 0.6	XOS

High negative correlations

NKLA	- 0.66	CAT
TWI	- 0.61	CAT
NKLA	- 0.6	DE
LEV	- 0.55	CAT
LEV	- 0.54	DE
XOS	- 0.49	DE

Risk-Adjusted Indicators

There is a big difference between Ideanomics Stock performing well and Ideanomics 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 Ideanomics' 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
DE	1.14	0.19	0.13	0.34	1.08	(1.32)	2.16	(1.86)	6.32
CAT	1.32	0.01	0.07	0.13	1.35	(1.39)	3.36	(2.13)	12.38
ZEV	5.84	(0.68)	0.00	(0.19)	0.00	0.00	12.37	(12.78)	52.79
LEV	4.88	(1.78)	0.00	(1.14)	0.00	0.00	12.50	(14.71)	41.71
XOS	2.26	(0.28)	0.00	(0.23)	0.00	0.00	5.18	(4.94)	29.19
NKLA	4.52	(2.06)	0.00	(0.76)	0.00	0.00	6.76	(12.50)	42.89
WNC	1.57	(0.18)	(0.06)	0.01	1.82	(1.70)	3.00	(2.92)	9.47
HYFM	3.60	0.59	0.14	0.85	3.22	(5.09)	14.06	(5.88)	27.94
HIPH	1.49	(0.67)	0.00	0.98	0.00	0.00	0.00	0.00	50.00
TWI	2.37	(0.54)	0.00	(0.06)	0.00	0.00	4.15	(5.01)	16.96

Ideanomics 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 Ideanomics stock to make a market-neutral strategy. Peer analysis of Ideanomics could also be used in its relative valuation, which is a method of valuing Ideanomics by comparing valuation metrics with similar companies.

Deere Company Caterpillar Lightning EMotors Lion Electric Corp Xos Inc Nikola Corp Wabash National Hydrofarm Holdings Group American Premium Water Titan International Urban Gro CEA Industries Volvo AB ADR Gencor Industries American Airlines Group

Risk & Return

Correlation

Ideanomics Corporate Management

Hao Li	Head Group	Profile
Liqing Hu	Chief Works	Profile
George Yuan	Chief BBDCG	Profile
Ryan Jenkins	Chief Officer	Profile
Anthony Sklar	Senior Relations	Profile
Paula WhittenDoolin	G Counsel	Profile

Still Interested in Ideanomics?

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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