Workhorse Correlations

Workhorse Correlation With Market

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Workhorse Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

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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    BYDDY + 0.86 XPEV NIO + 0.54 XPEV BYDDY + 0.47 NIO LCID + 0.43 FFIE LCID + 0.41 MULN MULN + 0.2 FFIE

High negative correlations    XPEV - 0.77 MULN LCID - 0.75 XPEV BYDDY - 0.71 MULN BYDDY - 0.49 LCID LCID - 0.37 NIO XPEV - 0.34 FFIE

Risk-Adjusted Indicators

There is a big difference between Workhorse Stock performing well and Workhorse 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 Workhorse'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.