Hesai Group Correlations

HSAI Stock

21.75 1.69 8.42%

The current 90-days correlation between Hesai Group American and Life Time Group is 0.18 (i.e., Average diversification). The correlation of Hesai Group 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.

Hesai Group Correlation With Market

Modest diversification

The correlation between Hesai Group American and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hesai Group American and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hesai Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hesai Group American. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Hesai Stock

0.81	F	Ford Motor Earnings Call This Week	Pair Corr
0.79	GM	General Motors Earnings Call This Week	Pair Corr
0.7	LI	Li Auto	Pair Corr
0.8	VC	Visteon Corp Earnings Call This Week	Pair Corr
0.73	ZK	ZEEKR Intelligent	Pair Corr
0.62	DORM	Dorman Products	Pair Corr
0.71	FFAI	Faraday Future Intel Symbol Change	Pair Corr
0.63	FLYE	Fly E Group,	Pair Corr
0.87	ALV	Autoliv	Pair Corr
0.78	AXL	American Axle Manufa	Pair Corr
0.88	BWA	BorgWarner	Pair Corr
0.81	FOXF	Fox Factory Holding	Pair Corr
0.71	CPS	Cooper Stnd	Pair Corr
0.84	DAN	Dana Inc	Pair Corr
0.84	ECX	ECARX Holdings Class	Pair Corr
0.81	MBLY	Mobileye Global Class	Pair Corr
0.78	MPAA	Motorcar Parts	Pair Corr
0.72	NWTN	NWTN Class B	Pair Corr
0.86	H	Hyatt Hotels Earnings Call This Week	Pair Corr
0.65	M	Macys Inc	Pair Corr
0.82	W	Wayfair	Pair Corr
0.82	AN	AutoNation	Pair Corr
0.87	AS	Amer Sports,	Pair Corr
0.82	BC	Brunswick Earnings Call This Week	Pair Corr
0.79	BH	Biglari Holdings	Pair Corr
0.8	FL	Foot Locker	Pair Corr

Moving against Hesai Stock

0.86	ECDA	ECD Automotive Design	Pair Corr
0.83	MULN	Mullen Automotive	Pair Corr
0.67	EVTV	Envirotech Vehicles	Pair Corr
0.72	SG	Sweetgreen	Pair Corr
0.62	DNUT	Krispy Kreme	Pair Corr
0.58	JD	JD Inc Adr Aggressive Push	Pair Corr

Related Correlations Analysis

	LTH	PLNT	BC	SNCY	LTM	PRKS	JDDSF	ULCC
LTH		-0.32	-0.55	-0.3	-0.53	0.04	-0.02	-0.46	LTH
PLNT	-0.32		0.83	0.63	0.89	0.26	0.55	0.53	PLNT
BC	-0.55	0.83		0.78	0.95	0.34	0.62	0.68	BC
SNCY	-0.3	0.63	0.78		0.82	0.63	0.5	0.84	SNCY
LTM	-0.53	0.89	0.95	0.82		0.41	0.6	0.74	LTM
PRKS	0.04	0.26	0.34	0.63	0.41		0.44	0.62	PRKS
JDDSF	-0.02	0.55	0.62	0.5	0.6	0.44		0.31	JDDSF
ULCC	-0.46	0.53	0.68	0.84	0.74	0.62	0.31		ULCC
	LTH	PLNT	BC	SNCY	LTM	PRKS	JDDSF	ULCC

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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

LTM	+ 0.95	BC
LTM	+ 0.89	PLNT
ULCC	+ 0.84	SNCY
BC	+ 0.83	PLNT
LTM	+ 0.82	SNCY
SNCY	+ 0.78	BC

High negative correlations

BC	- 0.55	LTH
LTM	- 0.53	LTH
ULCC	- 0.46	LTH
PLNT	- 0.32	LTH
SNCY	- 0.3	LTH
JDDSF	- 0.02	LTH

Risk-Adjusted Indicators

There is a big difference between Hesai Stock performing well and Hesai Group 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 Hesai Group'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
LTH	1.77	(0.21)	0.00	(0.04)	0.00	0.00	3.68	(3.88)	12.11
PLNT	1.37	0.16	0.05	0.49	1.53	(1.51)	3.64	(2.73)	9.12
BC	1.90	0.25	0.18	0.28	1.62	(2.36)	4.80	(2.96)	14.46
SNCY	2.65	0.10	0.10	0.17	2.85	(3.35)	7.16	(4.80)	17.65
LTM	1.26	0.46	0.24	1.17	1.04	(1.42)	3.48	(2.52)	7.63
PRKS	1.60	0.21	0.03	(1.77)	2.00	(1.76)	3.48	(3.65)	11.04
JDDSF	1.39	0.20	0.00	0.62	0.00	0.00	3.96	(3.81)	31.00
ULCC	3.16	0.50	0.07	(0.58)	3.41	(3.57)	7.71	(4.79)	21.88

Hesai Group Corporate Executives

Elected by the shareholders, the Hesai Group's board of directors comprises two types of representatives: Hesai Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hesai. The board's role is to monitor Hesai Group's management team and ensure that shareholders' interests are well served. Hesai Group's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hesai Group's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Shaoqing Xiang	CTO CoFounder	Profile
	Kai Sun	Chief CoFounder	Profile

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