Polestar Automotive Correlations

PSNYW Stock

USD 0.19 0.01 5.00%

The current 90-days correlation between Polestar Automotive and Dorman Products is 0.01 (i.e., Significant 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

Good diversification

The correlation between Polestar Automotive Holding and DJI is -0.03 (i.e., Good 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.

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

Moving against Polestar Stock

0.49	BH	Biglari Holdings	Pair Corr
0.36	M	Macys Inc	Pair Corr
0.35	NWTN	NWTN Class B	Pair Corr
0.53	CDROW	Codere Online Luxembourg	Pair Corr
0.4	DOGZ	Dogness International	Pair Corr

Related Correlations Analysis

	DORM	MNRO	SMP	SRI	CPS	ECXWW	FOXF	MPAA	DAN	GNTX
DORM		0.19	0.32	0.43	0.1	-0.38	0.46	-0.27	-0.06	0.51	DORM
MNRO	0.19		0.6	0.4	-0.07	-0.62	0.63	-0.64	-0.37	0.59	MNRO
SMP	0.32	0.6		0.06	-0.06	-0.81	0.61	-0.58	-0.02	0.58	SMP
SRI	0.43	0.4	0.06		-0.23	-0.37	0.75	-0.17	-0.8	0.74	SRI
CPS	0.1	-0.07	-0.06	-0.23		0.29	-0.23	-0.02	0.48	-0.15	CPS
ECXWW	-0.38	-0.62	-0.81	-0.37	0.29		-0.75	0.6	0.35	-0.75	ECXWW
FOXF	0.46	0.63	0.61	0.75	-0.23	-0.75		-0.45	-0.63	0.91	FOXF
MPAA	-0.27	-0.64	-0.58	-0.17	-0.02	0.6	-0.45		0.05	-0.46	MPAA
DAN	-0.06	-0.37	-0.02	-0.8	0.48	0.35	-0.63	0.05		-0.64	DAN
GNTX	0.51	0.59	0.58	0.74	-0.15	-0.75	0.91	-0.46	-0.64		GNTX
	DORM	MNRO	SMP	SRI	CPS	ECXWW	FOXF	MPAA	DAN	GNTX

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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

GNTX	+ 0.91	FOXF
FOXF	+ 0.75	SRI
GNTX	+ 0.74	SRI
FOXF	+ 0.63	MNRO
FOXF	+ 0.61	SMP
SMP	+ 0.6	MNRO

High negative correlations

ECXWW	- 0.81	SMP
DAN	- 0.8	SRI
GNTX	- 0.75	ECXWW
FOXF	- 0.75	ECXWW
GNTX	- 0.64	DAN
MPAA	- 0.64	MNRO

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
DORM	1.16	(0.05)	0.00	(0.06)	0.00	0.00	2.60	(2.96)	7.99
MNRO	1.82	(0.66)	0.00	(0.92)	0.00	0.00	2.69	(4.22)	9.63
SMP	1.19	(0.28)	0.00	(0.42)	0.00	0.00	1.78	(2.30)	7.53
SRI	3.66	(0.21)	0.00	0.19	0.00	0.00	6.68	(8.80)	31.78
CPS	2.78	0.45	0.14	0.23	2.84	(3.40)	5.09	(5.33)	24.09
ECXWW	12.41	3.47	0.28	2.92	10.33	(17.89)	38.00	(18.42)	101.08
FOXF	1.92	(0.25)	0.00	0.48	0.00	0.00	3.00	(4.07)	15.53
MPAA	3.89	0.47	0.14	0.52	3.31	(5.42)	11.22	(5.07)	22.07
DAN	2.10	0.40	0.16	0.26	2.15	(2.26)	5.46	(3.70)	19.62
GNTX	1.20	(0.24)	0.00	(0.35)	0.00	0.00	2.19	(2.29)	10.85

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

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