Nxu Correlations

NXU Stock

USD 0.25 0.01 3.85%

The current 90-days correlation between Nxu Inc and Chardan NexTech Acquisition is 0.06 (i.e., Significant diversification). The correlation of Nxu 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.

Nxu Correlation With Market

Good diversification

The correlation between Nxu Inc and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nxu Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nxu Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Nxu Stock

0.72	STI	Solidion Technology	Pair Corr
0.61	IPWR	Ideal Power	Pair Corr
0.71	POLA	Polar Power	Pair Corr

Moving against Nxu Stock

0.33	ENS	Enersys	Pair Corr
0.47	APWC	Asia Pacific Wire	Pair Corr
0.39	G	Genpact Limited	Pair Corr
0.35	CAPTW	Captivision Warrant	Pair Corr

Related Correlations Analysis

	DFLI	POLA	EOSE	EPOW	AFGYF	PPSI	CBAT	OPTT	IPWR	XPON
DFLI		0.43	0.04	-0.42	0.85	0.92	0.4	0.18	0.75	0.9	DFLI
POLA	0.43		0.47	0.07	0.51	0.38	0.59	0.63	0.57	0.44	POLA
EOSE	0.04	0.47		0.2	0.18	-0.04	0.48	0.7	0.62	0.06	EOSE
EPOW	-0.42	0.07	0.2		-0.12	-0.54	0.14	0.47	-0.17	-0.5	EPOW
AFGYF	0.85	0.51	0.18	-0.12		0.73	0.53	0.43	0.75	0.78	AFGYF
PPSI	0.92	0.38	-0.04	-0.54	0.73		0.3	0.05	0.65	0.87	PPSI
CBAT	0.4	0.59	0.48	0.14	0.53	0.3		0.64	0.62	0.43	CBAT
OPTT	0.18	0.63	0.7	0.47	0.43	0.05	0.64		0.61	0.11	OPTT
IPWR	0.75	0.57	0.62	-0.17	0.75	0.65	0.62	0.61		0.71	IPWR
XPON	0.9	0.44	0.06	-0.5	0.78	0.87	0.43	0.11	0.71		XPON
	DFLI	POLA	EOSE	EPOW	AFGYF	PPSI	CBAT	OPTT	IPWR	XPON

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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

PPSI	+ 0.92	DFLI
XPON	+ 0.9	DFLI
XPON	+ 0.87	PPSI
AFGYF	+ 0.85	DFLI
XPON	+ 0.78	AFGYF
IPWR	+ 0.75	DFLI

High negative correlations

PPSI	- 0.54	EPOW
XPON	- 0.5	EPOW
EPOW	- 0.42	DFLI
IPWR	- 0.17	EPOW
AFGYF	- 0.12	EPOW
PPSI	- 0.04	EOSE

Risk-Adjusted Indicators

There is a big difference between Nxu Stock performing well and Nxu 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 Nxu'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
DFLI	4.64	(1.20)	0.00	(0.82)	0.00	0.00	13.04	(10.03)	42.52
POLA	4.02	0.10	0.03	0.21	5.79	(4.82)	12.20	(6.35)	49.28
EOSE	5.24	0.93	0.13	0.21	5.08	(6.37)	13.79	(8.85)	40.49
EPOW	3.62	0.07	0.03	0.62	4.34	(4.85)	6.98	(7.59)	28.04
AFGYF	3.45	(0.84)	0.00	0.42	0.00	0.00	9.09	(13.33)	40.38
PPSI	2.09	(0.44)	0.00	(0.60)	0.00	0.00	4.08	(4.61)	16.47
CBAT	2.67	(0.06)	0.00	0.19	0.00	0.00	6.25	(4.90)	30.55
OPTT	9.39	1.55	0.18	(4.15)	8.53	(13.50)	22.97	(12.42)	117.25
IPWR	3.27	(0.18)	0.00	(0.26)	0.00	0.00	7.22	(7.43)	26.53
XPON	4.09	(1.00)	0.00	(1.19)	0.00	0.00	5.63	(7.95)	44.17

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