Pioneer Power Correlations

PPSI Stock

USD 5.97 0.07 1.19%

The current 90-days correlation between Pioneer Power Solutions and CBAK Energy Technology is -0.03 (i.e., Good diversification). The correlation of Pioneer 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.

Pioneer Power Correlation With Market

Significant diversification

The correlation between Pioneer Power Solutions and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Power Solutions 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 Pioneer Power Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Pioneer Stock

0.86	AYI	Acuity Brands	Pair Corr
0.89	EAF	GrafTech International	Pair Corr
0.86	ESP	Espey Mfg Electronics	Pair Corr
0.84	NVT	nVent Electric PLC	Pair Corr
0.69	NVX	Novonix Ltd ADR	Pair Corr
0.85	VRT	Vertiv Holdings	Pair Corr
0.74	HAYW	Hayward Holdings	Pair Corr
0.83	HUBB	Hubbell	Pair Corr
0.78	ADSEW	ADS TEC ENERGY	Pair Corr
0.66	PLPC	Preformed Line Products	Pair Corr
0.85	POWL	Powell Industries Earnings Call This Week	Pair Corr

Moving against Pioneer Stock

0.77	XPON	Expion360	Pair Corr
0.72	FCEL	FuelCell Energy Trending	Pair Corr
0.59	EPOW	Sunrise New Energy	Pair Corr
0.56	FLUX	Flux Power Holdings	Pair Corr
0.59	SDSTW	Stardust Power Symbol Change	Pair Corr
0.5	IPWR	Ideal Power	Pair Corr
0.47	LSCG	Lighting Science	Pair Corr
0.46	XNNHQ	Xenonics Holdings	Pair Corr

Related Correlations Analysis

	CBAT	OPTT	IPWR	XPON	POLA	EOSE	FCEL	LTBR	NVT	HUBB
CBAT		-0.32	0.55	0.0	0.43	0.69	0.01	0.02	0.02	0.16	CBAT
OPTT	-0.32		-0.21	0.15	-0.34	-0.21	0.39	-0.26	-0.12	-0.17	OPTT
IPWR	0.55	-0.21		0.57	0.27	0.19	0.4	-0.44	-0.37	-0.27	IPWR
XPON	0.0	0.15	0.57		-0.14	-0.37	0.64	-0.53	-0.64	-0.66	XPON
POLA	0.43	-0.34	0.27	-0.14		0.24	-0.28	-0.02	0.3	0.43	POLA
EOSE	0.69	-0.21	0.19	-0.37	0.24		-0.07	0.31	0.31	0.41	EOSE
FCEL	0.01	0.39	0.4	0.64	-0.28	-0.07		-0.65	-0.74	-0.69	FCEL
LTBR	0.02	-0.26	-0.44	-0.53	-0.02	0.31	-0.65		0.71	0.62	LTBR
NVT	0.02	-0.12	-0.37	-0.64	0.3	0.31	-0.74	0.71		0.95	NVT
HUBB	0.16	-0.17	-0.27	-0.66	0.43	0.41	-0.69	0.62	0.95		HUBB
	CBAT	OPTT	IPWR	XPON	POLA	EOSE	FCEL	LTBR	NVT	HUBB

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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

HUBB	+ 0.95	NVT
NVT	+ 0.71	LTBR
EOSE	+ 0.69	CBAT
FCEL	+ 0.64	XPON
HUBB	+ 0.62	LTBR
XPON	+ 0.57	IPWR

High negative correlations

NVT	- 0.74	FCEL
HUBB	- 0.69	FCEL
HUBB	- 0.66	XPON
LTBR	- 0.65	FCEL
NVT	- 0.64	XPON
LTBR	- 0.53	XPON

Risk-Adjusted Indicators

There is a big difference between Pioneer Stock performing well and Pioneer 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 Pioneer 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	3.03	(0.08)	0.00	(0.08)	0.00	0.00	6.38	(5.61)	28.56
OPTT	5.37	1.26	0.12	0.82	4.66	(15.11)	12.50	(10.00)	55.58
IPWR	2.62	(0.43)	0.00	(0.30)	0.00	0.00	3.96	(4.95)	22.65
XPON	9.66	(0.76)	0.00	(1.78)	0.00	0.00	29.64	(24.64)	74.33
POLA	5.31	0.21	0.02	1.94	5.77	(6.72)	12.77	(10.61)	45.49
EOSE	4.80	0.44	0.06	22.42	5.26	(5.91)	10.09	(7.87)	46.30
FCEL	5.30	0.05	(0.01)	(1.36)	6.15	(6.31)	14.57	(12.13)	35.77
LTBR	8.59	1.84	0.23	2.45	7.37	(11.95)	25.96	(12.75)	83.04
NVT	1.66	0.02	0.05	0.12	2.10	(1.90)	3.08	(2.34)	13.93
HUBB	1.26	0.07	0.09	0.15	1.38	(1.41)	3.09	(2.12)	10.41

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