Solarmax Technology Correlations

SMXT Stock

1.10 0.03 2.80%

The current 90-days correlation between Solarmax Technology and Hour Loop is 0.31 (i.e., Weak diversification). The correlation of Solarmax Technology 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.

Solarmax Technology Correlation With Market

Weak diversification

The correlation between Solarmax Technology Common and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solarmax Technology Common and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solarmax Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solarmax Technology Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against Solarmax Stock

0.53	GD	General Dynamics Earnings Call This Week	Pair Corr
0.49	AZ	A2Z Smart Technologies	Pair Corr
0.49	BE	Bloom Energy Corp	Pair Corr
0.44	FSTR	LB Foster	Pair Corr
0.43	WPRT	Westport Fuel Systems	Pair Corr
0.43	DY	Dycom Industries	Pair Corr
0.4	CW	Curtiss Wright	Pair Corr
0.37	J	Jacobs Solutions	Pair Corr
0.36	R	Ryder System Earnings Call This Week	Pair Corr
0.34	TOYO	TOYO Co,	Pair Corr
0.33	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.32	BW	Babcock Wilcox Enter	Pair Corr
0.48	PL	Planet Labs PBC	Pair Corr
0.47	DPRO	Draganfly Trending	Pair Corr
0.45	OP	Oceanpal	Pair Corr
0.44	VICR	Vicor Earnings Call Today	Pair Corr
0.44	SB-PC	Safe Bulkers	Pair Corr
0.38	DLHC	DLH Holdings Corp	Pair Corr
0.36	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.34	DSGR	Distribution Solutions	Pair Corr

Related Correlations Analysis

	TITN	COCO	KDP	STZ	HOUR	PEP	MGPI
TITN		0.71	-0.6	-0.26	0.46	-0.39	0.68	TITN
COCO	0.71		-0.4	-0.4	0.63	-0.1	0.49	COCO
KDP	-0.6	-0.4		0.45	-0.09	0.74	-0.2	KDP
STZ	-0.26	-0.4	0.45		-0.45	0.05	0.24	STZ
HOUR	0.46	0.63	-0.09	-0.45		0.32	0.27	HOUR
PEP	-0.39	-0.1	0.74	0.05	0.32		-0.35	PEP
MGPI	0.68	0.49	-0.2	0.24	0.27	-0.35		MGPI
	TITN	COCO	KDP	STZ	HOUR	PEP	MGPI

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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

PEP	+ 0.74	KDP
COCO	+ 0.71	TITN
MGPI	+ 0.68	TITN
HOUR	+ 0.63	COCO
MGPI	+ 0.49	COCO
HOUR	+ 0.46	TITN

High negative correlations

KDP	- 0.6	TITN
HOUR	- 0.45	STZ
STZ	- 0.4	COCO
KDP	- 0.4	COCO
PEP	- 0.39	TITN
MGPI	- 0.35	PEP

Risk-Adjusted Indicators

There is a big difference between Solarmax Stock performing well and Solarmax Technology 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 Solarmax Technology'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
TITN	2.08	0.09	0.06	0.19	1.89	(2.40)	4.70	(3.11)	13.23
COCO	1.60	0.29	0.12	0.78	1.57	(1.85)	3.21	(2.27)	9.61
KDP	0.79	(0.13)	0.00	(0.32)	0.00	0.00	1.54	(1.71)	4.26
STZ	1.14	(0.19)	0.00	(0.27)	0.00	0.00	2.08	(2.90)	8.90
HOUR	3.65	0.51	0.12	0.86	3.62	(4.49)	10.74	(5.38)	23.67
PEP	1.08	(0.09)	0.00	(0.03)	0.00	0.00	2.20	(1.93)	6.85
MGPI	1.78	0.07	0.02	0.22	2.30	(1.82)	4.26	(3.15)	12.88

Solarmax Technology Corporate Executives

Elected by the shareholders, the Solarmax Technology's board of directors comprises two types of representatives: Solarmax Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Solarmax. The board's role is to monitor Solarmax Technology's management team and ensure that shareholders' interests are well served. Solarmax Technology'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, Solarmax Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.

Stephen Brown

CFO Secretary

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