Plug Power Correlations
| PLUN Stock | 1.55 0.11 7.64% |
The current 90-days correlation between Plug Power and YASKAWA ELEC UNSP is -0.14 (i.e., Good diversification). The correlation of Plug 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.
Plug Power Correlation With Market
Average diversification
The correlation between Plug Power and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plug Power and DJI in the same portfolio, assuming nothing else is changed.
Plug |
The ability to find closely correlated positions to Plug Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Plug Power when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Plug Power - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Plug Power to buy it.
Moving together with Plug Stock
| 0.87 | 1ZB | Bloom Energy | PairCorr |
| 0.81 | SSUN | Samsung Electronics | PairCorr |
| 0.79 | SSU | Samsung Electronics | PairCorr |
| 0.88 | PKX | POSCO Holdings | PairCorr |
| 0.69 | KBIA | KB Financial Group Earnings Call This Week | PairCorr |
| 0.87 | 2WGA | WOORI FIN GRP Earnings Call This Week | PairCorr |
| 0.79 | HY9H | SK hynix Earnings Call This Week | PairCorr |
| 0.82 | FA2 | FORWARD AIR P | PairCorr |
| 0.66 | HEI | Heidelberg Materials | PairCorr |
| 0.86 | JOT | ELEKTROBIT | PairCorr |
| 0.62 | KOM1 | Komatsu | PairCorr |
| 0.62 | KGHA | KGHM Polska Miedz | PairCorr |
Moving against Plug Stock
| 0.83 | BRYN | Berkshire Hathaway | PairCorr |
| 0.82 | BRYN | Berkshire Hathaway | PairCorr |
| 0.79 | BRH | Berkshire Hathaway | PairCorr |
| 0.49 | YEC0 | YASKAWA ELEC UNSP | PairCorr |
| 0.32 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.31 | ALV | Allianz SE | PairCorr |
Related Correlations Analysis
| 0.44 | 0.22 | 0.73 | 0.71 | 0.36 | 0.8 | NVAW | ||
| 0.44 | -0.49 | 0.19 | 0.37 | -0.28 | 0.69 | YEC0 | ||
| 0.22 | -0.49 | 0.6 | 0.47 | 0.87 | 0.0 | PLUN | ||
| 0.73 | 0.19 | 0.6 | 0.89 | 0.78 | 0.7 | 49V | ||
| 0.71 | 0.37 | 0.47 | 0.89 | 0.67 | 0.76 | OSR | ||
| 0.36 | -0.28 | 0.87 | 0.78 | 0.67 | 0.26 | 1ZB | ||
| 0.8 | 0.69 | 0.0 | 0.7 | 0.76 | 0.26 | 33B | ||
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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 Plug Stock performing well and Plug 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 Plug 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NVAW | 3.36 | 1.22 | 0.28 | (2.25) | 2.76 | 12.15 | 24.18 | |||
| YEC0 | 2.44 | (0.14) | (0.04) | 0.00 | 3.31 | 6.29 | 18.54 | |||
| PLUN | 5.91 | 0.94 | 0.17 | 0.82 | 4.92 | 19.01 | 42.28 | |||
| 49V | 3.08 | 0.97 | 0.22 | (3.42) | 2.78 | 7.40 | 22.00 | |||
| OSR | 0.19 | 0.04 | (0.24) | (0.66) | 0.00 | 0.39 | 2.08 | |||
| 1ZB | 3.66 | 0.47 | 0.06 | (1.30) | 4.30 | 8.41 | 22.04 | |||
| 33B | 1.47 | 0.41 | 0.18 | (1.84) | 1.11 | 3.27 | 13.55 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Plug Power without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Plug Power Corporate Management
Elected by the shareholders, the Plug Power's board of directors comprises two types of representatives: Plug Power inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Plug. The board's role is to monitor Plug Power's management team and ensure that shareholders' interests are well served. Plug Power'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, Plug Power's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Keith Schmid | GM Devel | Profile | |
| Dirk Hoefelmann | Ex Electrolyzers | Profile | |
| Tammy Kimble | VP HR | Profile | |
| Martin Hull | Chief Controller | Profile | |
| Andrew Marsh | CEO Pres | Profile | |
| Sanjay Shrestha | GM VP | Profile | |
| Tim Cortes | Chief Officer | Profile |