NET Power Correlations

NPWR Stock

2.14 0.14 7.00%

The current 90-days correlation between NET Power and Park Ohio Holdings is 0.27 (i.e., Modest diversification). The correlation of NET 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. If the correlation is 0, the equities are not correlated; they are entirely random.

NET Power Correlation With Market

Very good diversification

The correlation between NET Power and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NET Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NET Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NET Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in child.

To learn how to invest in NET Stock, please use our How to Invest in NET Power guide.

Moving together with NET Stock

0.63	WATR	Current Water Techno	Pair Corr
0.8	XPON	Expion360	Pair Corr
0.71	HYFM	Hydrofarm Holdings	Pair Corr
0.61	PNT	Pentair plc	Pair Corr
0.75	XSG	Xeros Technology	Pair Corr

Moving against NET Stock

0.63	PH	Parker Hannifin	Pair Corr
0.6	RFG	Roebuck Food Group	Pair Corr
0.6	WWD	Woodward	Pair Corr
0.58	OERL	OC Oerlikon Corp	Pair Corr
0.53	HZ8	Insteel Industries	Pair Corr
0.5	PL	Planet Labs PBC	Pair Corr
0.49	FSTR	LB Foster	Pair Corr
0.64	JBTM	JBTMarel Corp	Pair Corr
0.57	LECO	Lincoln Electric Holdings Earnings Call This Week	Pair Corr
0.53	OFLX	Omega Flex	Pair Corr
0.51	PRV	Porvair plc Earnings Call This Week	Pair Corr
0.47	MGAM	Morgan Advanced Materials	Pair Corr
0.37	EGL	Environmental Group	Pair Corr
0.63	ATMU	Atmus Filtration Tec Earnings Call This Week	Pair Corr
0.55	CECO	CECO Environmental Corp	Pair Corr
0.52	PKOH	Park Ohio Holdings	Pair Corr
0.46	9IRA	Broadwind	Pair Corr

Related Correlations Analysis

	PKOH	BNC	OFLX	CMDB	LXFR	WNC	MAGN	SHMD	FLYX	MG
PKOH		-0.04	0.87	0.66	0.86	0.92	0.68	0.65	-0.05	0.67	PKOH
BNC	-0.04		-0.35	0.04	-0.2	-0.12	0.36	-0.45	0.13	-0.37	BNC
OFLX	0.87	-0.35		0.53	0.94	0.9	0.52	0.88	-0.03	0.83	OFLX
CMDB	0.66	0.04	0.53		0.5	0.67	0.72	0.35	-0.14	0.35	CMDB
LXFR	0.86	-0.2	0.94	0.5		0.91	0.63	0.87	0.0	0.86	LXFR
WNC	0.92	-0.12	0.9	0.67	0.91		0.72	0.77	0.1	0.76	WNC
MAGN	0.68	0.36	0.52	0.72	0.63	0.72		0.34	0.17	0.46	MAGN
SHMD	0.65	-0.45	0.88	0.35	0.87	0.77	0.34		0.06	0.84	SHMD
FLYX	-0.05	0.13	-0.03	-0.14	0.0	0.1	0.17	0.06		-0.01	FLYX
MG	0.67	-0.37	0.83	0.35	0.86	0.76	0.46	0.84	-0.01		MG
	PKOH	BNC	OFLX	CMDB	LXFR	WNC	MAGN	SHMD	FLYX	MG

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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

LXFR	+ 0.94	OFLX
WNC	+ 0.92	PKOH
WNC	+ 0.91	LXFR
WNC	+ 0.9	OFLX
SHMD	+ 0.88	OFLX
OFLX	+ 0.87	PKOH

High negative correlations

SHMD	- 0.45	BNC
MG	- 0.37	BNC
OFLX	- 0.35	BNC
LXFR	- 0.2	BNC
FLYX	- 0.14	CMDB
WNC	- 0.12	BNC

Risk-Adjusted Indicators

There is a big difference between NET Stock performing well and NET 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 NET 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
PKOH	2.06	0.23	0.09	0.24	2.48	(2.22)	5.26	(3.61)	14.67
BNC	4.60	(0.61)	0.00	(0.17)	0.00	0.00	9.58	(10.14)	35.96
OFLX	1.96	0.41	0.20	0.37	1.86	(2.38)	4.53	(2.83)	13.45
CMDB	1.92	0.54	0.27	1.03	1.52	(2.38)	4.50	(3.29)	15.86
LXFR	1.30	0.25	0.17	0.29	1.20	(1.49)	2.92	(2.58)	6.05
WNC	2.25	0.41	0.21	0.32	1.97	(2.85)	5.45	(3.47)	16.28
MAGN	2.97	0.81	0.26	0.79	2.48	(3.40)	8.35	(5.75)	34.45
SHMD	6.32	1.14	0.19	0.41	6.54	(7.30)	16.73	(10.85)	40.89
FLYX	8.13	0.26	0.08	0.12	8.14	(11.48)	13.86	(11.97)	161.87
MG	2.15	0.55	0.34	0.39	1.41	(2.79)	4.20	(2.50)	27.65

NET Power Corporate Management

Bruce Jenkins	Chief Staff	Profile
Mark Lennon	Chief Officer	Profile
Akash Patel	Chief Officer	Profile
Caleb Dolah	Controller Officer	Profile
Marc Horstman	Chief Officer	Profile
James Mahon	General Counsel	Profile

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