CBAK Energy Correlations

CBAT Stock

USD 0.84 0.02 2.33%

The current 90-days correlation between CBAK Energy Technology and Ocean Power Technologies is -0.06 (i.e., Good diversification). The correlation of CBAK Energy 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.

CBAK Energy Correlation With Market

Good diversification

The correlation between CBAK Energy Technology and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBAK Energy Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CBAK Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CBAK Energy Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with CBAK Stock

0.64	ELPW	Elong Power Holding	Pair Corr
0.66	PLUG	Plug Power Aggressive Push	Pair Corr
0.67	SUNE	SUNation Energy	Pair Corr
0.81	BEEM	Beam Global	Pair Corr

Moving against CBAK Stock

0.49	ESP	Espey Mfg Electronics	Pair Corr
0.46	300548	Broadex Technologies	Pair Corr
0.38	EMR	Emerson Electric	Pair Corr
0.62	300032	Jinlong Machinery	Pair Corr
0.54	300648	Fujian Nebula Electronics	Pair Corr
0.46	600110	Nuode Investment	Pair Corr
0.63	PPERY	Bank Mandiri Persero	Pair Corr
0.59	CASXF	Casa Minerals	Pair Corr
0.58	DGWPF	Drgerwerk AG	Pair Corr
0.56	TLK	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	OPTT	RFIL	DFLI	SUGP	XCH	DHX	SDST	FTEK	SHIM	RYM
OPTT		0.78	0.9	0.56	0.48	0.82	0.66	0.82	-0.32	0.67	OPTT
RFIL	0.78		0.77	0.74	0.67	0.85	0.81	0.97	-0.43	0.91	RFIL
DFLI	0.9	0.77		0.54	0.5	0.75	0.72	0.81	-0.35	0.68	DFLI
SUGP	0.56	0.74	0.54		0.53	0.61	0.62	0.76	-0.12	0.62	SUGP
XCH	0.48	0.67	0.5	0.53		0.43	0.76	0.69	-0.43	0.63	XCH
DHX	0.82	0.85	0.75	0.61	0.43		0.61	0.88	-0.36	0.74	DHX
SDST	0.66	0.81	0.72	0.62	0.76	0.61		0.83	-0.4	0.73	SDST
FTEK	0.82	0.97	0.81	0.76	0.69	0.88	0.83		-0.36	0.89	FTEK
SHIM	-0.32	-0.43	-0.35	-0.12	-0.43	-0.36	-0.4	-0.36		-0.25	SHIM
RYM	0.67	0.91	0.68	0.62	0.63	0.74	0.73	0.89	-0.25		RYM
	OPTT	RFIL	DFLI	SUGP	XCH	DHX	SDST	FTEK	SHIM	RYM

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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

FTEK	+ 0.97	RFIL
RYM	+ 0.91	RFIL
DFLI	+ 0.9	OPTT
RYM	+ 0.89	FTEK
FTEK	+ 0.88	DHX
DHX	+ 0.85	RFIL

High negative correlations

SHIM	- 0.43	XCH
SHIM	- 0.43	RFIL
SHIM	- 0.4	SDST
SHIM	- 0.36	FTEK
SHIM	- 0.36	DHX
SHIM	- 0.35	DFLI

Risk-Adjusted Indicators

There is a big difference between CBAK Stock performing well and CBAK Energy 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 CBAK Energy'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
OPTT	4.89	(0.66)	0.00	(0.10)	0.00	0.00	7.69	(8.82)	48.21
RFIL	2.18	(0.51)	0.00	(4.73)	0.00	0.00	4.09	(5.62)	13.29
DFLI	11.52	0.16	0.06	0.09	12.49	(14.01)	28.76	(18.56)	116.66
SUGP	7.00	0.30	0.03	26.57	6.93	(9.49)	18.53	(12.45)	69.41
XCH	7.53	1.08	0.08	(0.17)	7.81	(10.64)	15.79	(10.66)	122.83
DHX	2.33	(0.57)	0.00	(1.46)	0.00	0.00	4.35	(5.74)	13.34
SDST	5.97	0.30	0.01	(0.11)	7.34	(6.26)	11.44	(12.93)	52.56
FTEK	3.15	(0.86)	0.00	3.50	0.00	0.00	6.45	(6.98)	19.15
SHIM	3.56	0.28	0.08	0.24	3.67	(4.90)	11.93	(5.68)	26.47
RYM	5.90	(0.88)	0.00	(0.44)	0.00	0.00	11.39	(15.38)	63.12

CBAK Energy Corporate Management

Guosheng Wang	Consultant	Profile
Jiewei Thierry	Investor Officer	Profile
Yongbin Han	CFO Investments	Profile
Xiujun Tian	Deputy Engineer	Profile

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