Plug Power Correlations

PLUG Stock

USD 1.58 0.04 2.47%

The current 90-days correlation between Plug Power and Microvast Holdings is 0.25 (i.e., Modest diversification). The correlation of Plug Power 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.

Plug Power Correlation With Market

Significant diversification

The correlation between Plug Power and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plug Power and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Plug Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more detail on how to invest in Plug Stock please use our How to Invest in Plug Power guide.

Moving together with Plug Stock

0.71	ELPW	Elong Power Holding	Pair Corr
0.93	FCEL	FuelCell Energy	Pair Corr
0.61	FLUX	Flux Power Holdings	Pair Corr
0.66	ADN	Advent Technologies	Pair Corr
0.81	EAF	GrafTech International	Pair Corr
0.64	GWH	ESS Tech	Pair Corr
0.7	NVT	nVent Electric PLC	Pair Corr
0.86	NVX	Novonix Ltd ADR	Pair Corr
0.77	XPON	Expion360	Pair Corr
0.64	STI	Solidion Technology	Pair Corr
0.7	VRT	Vertiv Holdings	Pair Corr
0.8	PITAW	Heramba Electric plc	Pair Corr
0.79	SDSTW	Stardust Power Symbol Change	Pair Corr
0.76	HUBB	Hubbell	Pair Corr
0.72	IPWR	Ideal Power	Pair Corr
0.79	NEOVW	NeoVolta Warrant	Pair Corr
0.85	NEOV	NeoVolta Common Stock	Pair Corr
0.65	POWL	Powell Industries	Pair Corr
0.77	PPSI	Pioneer Power Solutions	Pair Corr
0.79	SDST	Stardust Power Symbol Change	Pair Corr

Moving against Plug Stock

0.75	ENS	Enersys	Pair Corr
0.41	EPOW	Sunrise New Energy	Pair Corr
0.84	G	Genpact Limited	Pair Corr
0.45	APWC	Asia Pacific Wire	Pair Corr
0.43	SKYX	SKYX Platforms Corp	Pair Corr
0.4	PLPC	Preformed Line Products	Pair Corr

Related Correlations Analysis

	BE	MVST	SLDP	CBAT	FCEL	FREY	ENVX	EOSE	DFLI
BE		0.1	0.01	-0.01	0.18	0.04	0.21	0.16	0.1	BE
MVST	0.1		0.86	0.63	0.24	0.35	0.66	0.62	0.35	MVST
SLDP	0.01	0.86		0.81	0.52	0.46	0.74	0.62	0.59	SLDP
CBAT	-0.01	0.63	0.81		0.41	0.4	0.64	0.52	0.42	CBAT
FCEL	0.18	0.24	0.52	0.41		0.44	0.38	0.05	0.91	FCEL
FREY	0.04	0.35	0.46	0.4	0.44		0.62	0.51	0.47	FREY
ENVX	0.21	0.66	0.74	0.64	0.38	0.62		0.79	0.54	ENVX
EOSE	0.16	0.62	0.62	0.52	0.05	0.51	0.79		0.17	EOSE
DFLI	0.1	0.35	0.59	0.42	0.91	0.47	0.54	0.17		DFLI
	BE	MVST	SLDP	CBAT	FCEL	FREY	ENVX	EOSE	DFLI

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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

DFLI	+ 0.91	FCEL
SLDP	+ 0.86	MVST
CBAT	+ 0.81	SLDP
EOSE	+ 0.79	ENVX
ENVX	+ 0.74	SLDP
ENVX	+ 0.66	MVST

High negative correlations

CBAT

- 0.01

Risk-Adjusted Indicators

There is a big difference between Plug Stock performing well and Plug Power 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 Plug Power'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
BE	3.84	0.28	0.04	0.13	5.65	(4.13)	7.73	(7.00)	33.17
MVST	6.90	0.81	0.10	0.48	7.44	(8.02)	24.84	(10.95)	64.07
SLDP	4.16	0.24	0.05	0.12	4.64	(5.23)	9.23	(9.05)	41.68
CBAT	2.67	0.03	0.04	(0.21)	3.27	(3.45)	6.25	(4.90)	30.55
FCEL	4.59	(0.87)	0.00	(1.77)	0.00	0.00	11.15	(7.17)	26.50
FREY	4.65	(0.37)	0.00	(0.45)	0.00	0.00	12.10	(8.76)	30.45
ENVX	4.34	0.05	0.00	(0.06)	0.00	0.00	11.41	(8.83)	35.83
EOSE	5.11	0.94	0.15	0.23	4.92	(6.28)	13.79	(8.85)	40.49
DFLI	4.67	(1.11)	0.00	(0.73)	0.00	0.00	13.04	(10.03)	42.52

Plug Power Corporate Management

Keith Schmid	Executive Projects	Profile
Tammy Kimble	Vice Resources	Profile
Meryl Fritz	Manager Communications	Profile
Dean Fullerton	Chief Officer	Profile

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