Erayak Power Correlations

RAYA Stock

2.45 0.54 18.06%

The current 90-days correlation between Erayak Power Solution and Kuke Music Holding is 0.28 (i.e., Modest diversification). The correlation of Erayak 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.

Erayak Power Correlation With Market

Good diversification

The correlation between Erayak Power Solution and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erayak Power Solution and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Erayak Power Solution. 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 together with Erayak Stock

0.79	BE	Bloom Energy Corp	Pair Corr
0.7	ELVA	Electrovaya Common Shares	Pair Corr
0.81	ENVX	Enovix Corp	Pair Corr
0.64	FCEL	FuelCell Energy	Pair Corr
0.72	AYI	Acuity Brands	Pair Corr
0.83	ESP	Espey Mfg Electronics	Pair Corr
0.69	NVT	nVent Electric PLC	Pair Corr
0.71	VRT	Vertiv Holdings	Pair Corr
0.69	HUBB	Hubbell	Pair Corr
0.88	PLPC	Preformed Line Products	Pair Corr
0.7	POWL	Powell Industries	Pair Corr
0.86	AMPX	Amprius Technologies Trending	Pair Corr
0.65	APWC	Asia Pacific Wire	Pair Corr
0.63	ATKR	Atkore International	Pair Corr

Moving against Erayak Stock

0.66	GWH	ESS Tech	Pair Corr
0.65	SDSTW	Stardust Power Symbol Change	Pair Corr
0.58	ADSEW	ADS TEC ENERGY	Pair Corr
0.55	ADN	Advent Technologies	Pair Corr
0.37	STI	Solidion Technology	Pair Corr
0.36	IPWR	Ideal Power	Pair Corr
0.32	LNKS	Linkers Industries	Pair Corr
0.77	DFLI	Chardan NexTech Acqu	Pair Corr
0.73	DFLIW	Chardan NexTech Acqu	Pair Corr
0.68	SDST	Stardust Power Symbol Change	Pair Corr
0.52	POLA	Polar Power	Pair Corr
0.38	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	KUKE	ZM	KO	BUD	SNDVF	TME	STZ	WRN
KUKE		0.27	0.29	-0.13	0.48	-0.46	0.73	-0.26	KUKE
ZM	0.27		0.01	0.7	0.14	0.58	0.14	0.3	ZM
KO	0.29	0.01		0.09	0.12	-0.12	0.37	0.16	KO
BUD	-0.13	0.7	0.09		-0.05	0.86	-0.42	0.75	BUD
SNDVF	0.48	0.14	0.12	-0.05		-0.25	0.43	-0.11	SNDVF
TME	-0.46	0.58	-0.12	0.86	-0.25		-0.64	0.67	TME
STZ	0.73	0.14	0.37	-0.42	0.43	-0.64		-0.55	STZ
WRN	-0.26	0.3	0.16	0.75	-0.11	0.67	-0.55		WRN
	KUKE	ZM	KO	BUD	SNDVF	TME	STZ	WRN

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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

TME	+ 0.86	BUD
WRN	+ 0.75	BUD
STZ	+ 0.73	KUKE
BUD	+ 0.7	ZM
WRN	+ 0.67	TME
TME	+ 0.58	ZM

High negative correlations

STZ	- 0.64	TME
WRN	- 0.55	STZ
TME	- 0.46	KUKE
STZ	- 0.42	BUD
WRN	- 0.26	KUKE
TME	- 0.25	SNDVF

Risk-Adjusted Indicators

There is a big difference between Erayak Stock performing well and Erayak 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 Erayak 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
KUKE	2.49	0.10	0.01	1.05	2.93	(3.17)	7.38	(4.17)	29.89
ZM	1.22	(0.01)	(0.01)	0.08	1.79	(1.22)	2.05	(2.39)	11.09
KO	0.90	(0.03)	0.00	(0.04)	0.00	0.00	1.84	(1.70)	7.02
BUD	1.03	0.16	0.08	0.54	1.03	(1.12)	2.29	(2.04)	6.90
SNDVF	3.15	0.77	0.00	(0.24)	0.00	0.00	0.07	0.00	93.20
TME	2.14	0.46	0.17	0.60	2.39	(2.53)	5.20	(3.71)	19.37
STZ	1.21	(0.17)	0.00	(0.17)	0.00	0.00	2.30	(2.90)	11.14
WRN	3.01	0.16	0.03	0.51	3.45	(3.76)	7.55	(6.14)	17.38

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