Workhorse Correlations

WKHS Stock

USD 2.71 0.96 54.86%

The current 90-days correlation between Workhorse Group and Everspin Technologies is 0.08 (i.e., Significant diversification). The correlation of Workhorse 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.

Workhorse Correlation With Market

Average diversification

The correlation between Workhorse Group and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Workhorse Group and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Workhorse Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Workhorse Stock

0.63	SG	Sweetgreen	Pair Corr
0.67	FLWS	1 800 FLOWERSCOM	Pair Corr

Moving against Workhorse Stock

0.69	RIVN	Rivian Automotive	Pair Corr
0.61	LI	Li Auto	Pair Corr
0.54	NWTN	NWTN Class B	Pair Corr
0.45	MOD	Modine Manufacturing	Pair Corr
0.44	FL	Foot Locker	Pair Corr
0.43	IH	Ihuman Inc	Pair Corr
0.57	WING	Wingstop	Pair Corr
0.56	EPSM	Epsium Enterprise	Pair Corr
0.54	RL	Ralph Lauren Corp	Pair Corr
0.39	EWCZ	European Wax Center	Pair Corr
0.36	BYD	Boyd Gaming	Pair Corr
0.31	WEYS	Weyco Group	Pair Corr

Related Correlations Analysis

	MRAM	CPNG	KLAC	BESIY	SURRY	ACLS	DK	TW
MRAM		0.89	0.86	0.87	0.56	0.91	0.83	0.52	MRAM
CPNG	0.89		0.93	0.9	0.67	0.94	0.94	0.54	CPNG
KLAC	0.86	0.93		0.94	0.82	0.97	0.95	0.37	KLAC
BESIY	0.87	0.9	0.94		0.78	0.94	0.9	0.45	BESIY
SURRY	0.56	0.67	0.82	0.78		0.77	0.75	0.02	SURRY
ACLS	0.91	0.94	0.97	0.94	0.77		0.93	0.44	ACLS
DK	0.83	0.94	0.95	0.9	0.75	0.93		0.46	DK
TW	0.52	0.54	0.37	0.45	0.02	0.44	0.46		TW
	MRAM	CPNG	KLAC	BESIY	SURRY	ACLS	DK	TW

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Risk-Adjusted Indicators

There is a big difference between Workhorse Stock performing well and Workhorse 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 Workhorse'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
MRAM	2.19	0.37	0.13	0.43	2.47	(2.52)	4.29	(4.66)	19.35
CPNG	1.55	0.38	0.19	0.44	1.61	(1.82)	3.64	(3.65)	14.48
KLAC	2.26	0.34	0.13	0.28	2.73	(2.44)	4.87	(5.03)	23.93
BESIY	2.54	0.57	0.14	(23.56)	2.60	(2.91)	5.26	(5.33)	18.44
SURRY	2.25	0.67	0.00	(8.45)	0.00	0.00	5.11	(5.15)	34.83
ACLS	2.94	0.44	0.13	0.33	3.54	(3.19)	6.46	(5.43)	22.10
DK	3.08	0.62	0.13	0.47	4.00	(3.31)	8.37	(6.38)	21.30
TW	1.42	(0.12)	0.00	(0.10)	0.00	0.00	2.47	(4.01)	12.73

Workhorse Corporate Management

Joshua Anderson	Chief Officer	Profile
Kerry Roraff	Chief Officer	Profile
Gregory Ackerson	Principal Officer	Profile
Stan March	Vice Communications	Profile
James CPA	Chief Officer	Profile
Robert CMA	Chief Officer	Profile

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