Solid Power Correlations

SLDPW Stock

USD 0.86 0.06 6.52%

The current 90-days correlation between Solid Power and Tecogen is 0.22 (i.e., Modest diversification). The correlation of Solid 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.

Solid Power Correlation With Market

Modest diversification

The correlation between Solid Power and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solid Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solid Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solid 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 employment.

For more information on how to buy Solid Stock please use our How to Invest in Solid Power guide.

Moving together with Solid Stock

0.62	HI	Hillenbrand	Pair Corr
0.68	601608	CITIC Heavy Industries	Pair Corr
0.81	000777	SUFA Technology Industry	Pair Corr

Moving against Solid Stock

0.66	BRCK	Brickability Group Plc	Pair Corr
0.64	IR	Ingersoll Rand	Pair Corr
0.6	AZ	A2Z Smart Technologies Upward Rally	Pair Corr
0.53	0ACC	Accelleron Industries	Pair Corr
0.38	301338	GKG Precision Machine	Pair Corr
0.36	HY	Hyster Yale Materials	Pair Corr
0.34	688218	Jiangsu Beiren Robot	Pair Corr
0.62	688169	Beijing Roborock Tec	Pair Corr
0.58	688165	EFORT Intelligent	Pair Corr
0.38	301317	Xinlei Compressor	Pair Corr
0.35	300403	Jiangmen iDear Hanyu	Pair Corr
0.68	688003	Suzhou TZTEK Technology	Pair Corr
0.61	300499	Guangzhou Goaland Energy	Pair Corr
0.49	301007	Dalian Demaishi Precision	Pair Corr
0.33	600835	Shanghai Mechanical	Pair Corr

Related Correlations Analysis

	FCEL	ELVA	DFLI	MVST	CVEO	TGEN	SLND	SPCE	TG	PHOE
FCEL		0.8	0.43	0.33	-0.12	0.45	0.58	0.46	-0.12	-0.23	FCEL
ELVA	0.8		0.18	0.31	0.19	0.34	0.58	0.22	-0.21	-0.21	ELVA
DFLI	0.43	0.18		0.74	-0.45	0.69	0.46	0.66	-0.29	0.19	DFLI
MVST	0.33	0.31	0.74		-0.2	0.87	0.72	0.56	-0.47	0.14	MVST
CVEO	-0.12	0.19	-0.45	-0.2		-0.22	0.07	-0.33	-0.15	0.04	CVEO
TGEN	0.45	0.34	0.69	0.87	-0.22		0.75	0.59	-0.3	-0.21	TGEN
SLND	0.58	0.58	0.46	0.72	0.07	0.75		0.25	-0.39	-0.14	SLND
SPCE	0.46	0.22	0.66	0.56	-0.33	0.59	0.25		-0.04	-0.04	SPCE
TG	-0.12	-0.21	-0.29	-0.47	-0.15	-0.3	-0.39	-0.04		-0.43	TG
PHOE	-0.23	-0.21	0.19	0.14	0.04	-0.21	-0.14	-0.04	-0.43		PHOE
	FCEL	ELVA	DFLI	MVST	CVEO	TGEN	SLND	SPCE	TG	PHOE

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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

TGEN	+ 0.87	MVST
ELVA	+ 0.8	FCEL
SLND	+ 0.75	TGEN
MVST	+ 0.74	DFLI
SLND	+ 0.72	MVST
TGEN	+ 0.69	DFLI

High negative correlations

TG	- 0.47	MVST
CVEO	- 0.45	DFLI
PHOE	- 0.43	TG
TG	- 0.39	SLND
SPCE	- 0.33	CVEO
TG	- 0.3	TGEN

Risk-Adjusted Indicators

There is a big difference between Solid Stock performing well and Solid 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 Solid 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
FCEL	5.43	(0.13)	0.01	0.03	6.09	(5.90)	14.73	(9.11)	35.51
ELVA	3.97	0.15	0.07	0.10	4.13	(4.87)	9.06	(7.73)	33.61
DFLI	12.23	1.56	0.16	0.22	11.79	(14.57)	38.62	(18.56)	116.66
MVST	4.06	(0.31)	0.00	(0.08)	0.00	0.00	7.01	(8.91)	31.06
CVEO	1.45	0.02	0.00	0.08	2.24	(1.44)	2.88	(3.06)	14.66
TGEN	4.92	(0.82)	0.00	(0.19)	0.00	0.00	9.47	(10.49)	40.82
SLND	3.42	(0.51)	0.00	(0.10)	0.00	0.00	6.15	(8.04)	25.48
SPCE	4.19	0.07	0.03	0.09	5.00	(4.82)	9.97	(7.90)	27.87
TG	1.95	(0.10)	0.00	(0.09)	0.00	0.00	2.70	(4.41)	23.48
PHOE	5.73	1.29	0.13	(0.84)	6.15	(7.41)	14.97	(11.34)	62.49

Solid Power Corporate Management

David Jansen	Pres Chairman	Profile
Berislav Blizanac	Executive Technologies	Profile
Jennifer Almquist	Investor Relations	Profile
Derek Johnson	Chief Officer	Profile
Ramelle Gilliland	Executive Management	Profile
Lauren McCabe	Executive Operations	Profile

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