Polestar Automotive Correlations
| PSNY Stock | USD 1.12 0.01 0.90% |
The current 90-days correlation between Polestar Automotive and Rivian Automotive is 0.39 (i.e., Weak diversification). The correlation of Polestar Automotive 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.
Polestar Automotive Correlation With Market
Modest diversification
The correlation between Polestar Automotive Holding and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polestar Automotive Holding and DJI in the same portfolio, assuming nothing else is changed.
Polestar |
Moving against Polestar Stock
| 0.51 | BC | Brunswick | PairCorr |
| 0.46 | BWA | BorgWarner | PairCorr |
| 0.39 | MGA | Magna International | PairCorr |
| 0.38 | GNTX | Gentex | PairCorr |
| 0.36 | NWTN | NWTN Class B | PairCorr |
| 0.35 | TSLA | Tesla Inc Downward Rally | PairCorr |
| 0.33 | W | Wayfair | PairCorr |
| 0.31 | FL | Foot Locker | PairCorr |
| 0.42 | ETSY | Etsy Inc | PairCorr |
| 0.4 | VSCO | Victorias Secret | PairCorr |
| 0.39 | DLTH | Duluth Holdings | PairCorr |
| 0.38 | UA | Under Armour C | PairCorr |
| 0.35 | AEO | American Eagle Outfitters | PairCorr |
| 0.34 | FIVE | Five Below | PairCorr |
| 0.32 | EEIQ | Elite Education Group | PairCorr |
| 0.32 | WING | Wingstop | PairCorr |
| 0.31 | WOOF | Pet Acquisition LLC | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Polestar Stock performing well and Polestar Automotive 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 Polestar Automotive'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LCID | 3.69 | 0.01 | 0.00 | 0.00 | 4.68 | 8.58 | 28.24 | |||
| RIDE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RIVN | 2.97 | (0.03) | 0.00 | (0.02) | 0.00 | 5.90 | 32.24 | |||
| GOEV | 11.78 | (4.81) | 0.00 | 1.10 | 0.00 | 33.20 | 107.21 | |||
| NIO | 3.05 | 0.04 | 0.01 | 0.22 | 3.77 | 5.21 | 25.94 | |||
| XPEV | 3.72 | 0.87 | 0.22 | 4.83 | 3.55 | 8.29 | 22.77 | |||
| FSR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MULN | 10.89 | (7.58) | 0.00 | (5.58) | 0.00 | 14.58 | 97.92 | |||
| ARVL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Polestar Automotive Corporate Management
| Marius Hayler | Head Region | Profile | |
| Lutz Stiegler | Chief Officer | Profile | |
| Nina Henricsson | Chief Officer | Profile | |
| Kristian Elvefors | Global Sales | Profile | |
| Johan Malmqvist | Chief Officer | Profile | |
| Roger Molin | Head Control | Profile | |
| Jorg Brandscheid | CTO RD | Profile |