Polar Power Correlations

POLA Stock

USD 2.68 0.03 1.11%

The current 90-days correlation between Polar Power and Eos Energy Enterprises is 0.21 (i.e., Modest diversification). The correlation of Polar 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.

Polar Power Correlation With Market

Good diversification

The correlation between Polar Power and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polar 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 Polar 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 bureau of economic analysis.

For information on how to trade Polar Stock refer to our How to Trade Polar Stock guide.

Moving together with Polar Stock

0.62	TE	T1 Energy Symbol Change	Pair Corr
0.63	MVST	Microvast Holdings	Pair Corr
0.63	NEOV	NeoVolta Common Stock	Pair Corr
0.65	ELPW	Elong Power Holding	Pair Corr
0.7	FCEL	FuelCell Energy	Pair Corr
0.67	EAF	GrafTech International	Pair Corr
0.67	OPTT	Ocean Power Technologies	Pair Corr
0.73	NVX	Novonix Ltd ADR	Pair Corr
0.73	NXU	Nxu Inc	Pair Corr
0.61	XPON	Expion360	Pair Corr
0.65	STI	Solidion Technology	Pair Corr
0.68	WBX	Wallbox NV	Pair Corr
0.67	MVSTW	Microvast Holdings	Pair Corr
0.68	PITA	Heramba Electric plc	Pair Corr
0.71	PLUG	Plug Power	Pair Corr
0.68	PPSI	Pioneer Power Solutions	Pair Corr

Moving against Polar Stock

0.4	CAPTW	Captivision Warrant	Pair Corr
0.36	APWC	Asia Pacific Wire	Pair Corr

Related Correlations Analysis

	CBAT	OPTT	ENS	FLUX	PPSI	EOSE	FCEL	LTBR	HOLI	ESP
CBAT		0.67	-0.33	0.53	0.56	0.55	0.61	-0.36	0.0	0.57	CBAT
OPTT	0.67		-0.18	0.59	0.59	0.57	0.6	-0.2	0.0	0.44	OPTT
ENS	-0.33	-0.18		-0.47	-0.44	-0.17	-0.49	0.64	0.0	-0.38	ENS
FLUX	0.53	0.59	-0.47		0.67	0.72	0.63	-0.39	0.0	0.62	FLUX
PPSI	0.56	0.59	-0.44	0.67		0.63	0.84	-0.52	0.0	0.73	PPSI
EOSE	0.55	0.57	-0.17	0.72	0.63		0.5	-0.2	0.0	0.66	EOSE
FCEL	0.61	0.6	-0.49	0.63	0.84	0.5		-0.64	0.0	0.49	FCEL
LTBR	-0.36	-0.2	0.64	-0.39	-0.52	-0.2	-0.64		0.0	-0.43	LTBR
HOLI	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HOLI
ESP	0.57	0.44	-0.38	0.62	0.73	0.66	0.49	-0.43	0.0		ESP
	CBAT	OPTT	ENS	FLUX	PPSI	EOSE	FCEL	LTBR	HOLI	ESP

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

FCEL	+ 0.84	PPSI
ESP	+ 0.73	PPSI
EOSE	+ 0.72	FLUX
OPTT	+ 0.67	CBAT
PPSI	+ 0.67	FLUX
ESP	+ 0.66	EOSE

High negative correlations

LTBR	- 0.64	FCEL
LTBR	- 0.52	PPSI
FCEL	- 0.49	ENS
FLUX	- 0.47	ENS
PPSI	- 0.44	ENS
ESP	- 0.43	LTBR

Risk-Adjusted Indicators

There is a big difference between Polar Stock performing well and Polar 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 Polar 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
CBAT	2.58	0.26	0.08	0.31	2.94	(3.59)	6.25	(3.53)	30.55
OPTT	9.77	1.86	0.17	0.90	8.90	(13.89)	22.97	(12.50)	117.25
ENS	1.29	0.09	0.07	0.05	1.53	(1.34)	2.47	(2.66)	7.78
FLUX	4.44	0.30	0.03	0.04	5.27	(5.04)	10.13	(8.70)	40.07
PPSI	2.07	(0.24)	0.00	0.36	0.00	0.00	4.08	(4.39)	16.47
EOSE	4.91	0.06	0.05	(0.11)	5.01	(6.31)	13.38	(8.85)	40.49
FCEL	4.30	(0.99)	0.00	1.86	0.00	0.00	7.71	(7.17)	26.50
LTBR	9.44	1.98	0.22	(5.06)	8.63	(11.71)	29.41	(14.31)	64.27
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESP	1.73	(0.08)	0.00	(0.30)	0.00	0.00	3.01	(3.33)	15.86

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