CBAK Energy Correlations

CBAT Stock

USD 0.95 0.03 3.26%

The current 90-days correlation between CBAK Energy Technology and Pioneer Power Solutions is 0.13 (i.e., Average 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 -0.02 (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.

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

0.7	EPOW	Sunrise New Energy	Pair Corr
0.66	FLUX	Flux Power Holdings Earnings Call This Week	Pair Corr
0.71	ESP	Espey Mfg Electronics	Pair Corr
0.79	GWH	ESS Tech	Pair Corr
0.71	XPON	Expion360	Pair Corr
0.69	SVT	Servotronics	Pair Corr
0.72	WBX	Wallbox NV	Pair Corr
0.66	OESX	Orion Energy Systems Earnings Call This Week	Pair Corr

Moving against CBAK Stock

0.7	BE	Bloom Energy Corp	Pair Corr
0.62	NEOVW	NeoVolta Warrant	Pair Corr
0.34	MVST	Microvast Holdings	Pair Corr
0.31	VRT	Vertiv Holdings	Pair Corr
0.33	NEOV	NeoVolta Common Stock	Pair Corr

Related Correlations Analysis

	PPSI	OPTT	IPWR	XPON	POLA	LTBR	EOSE	ENS	FLUX	ENVX
PPSI		-0.67	-0.25	0.74	0.02	0.33	-0.85	0.28	0.7	-0.58	PPSI
OPTT	-0.67		0.55	-0.59	0.26	-0.27	0.81	-0.27	-0.55	0.8	OPTT
IPWR	-0.25	0.55		0.11	0.42	0.21	0.54	0.04	0.14	0.6	IPWR
XPON	0.74	-0.59	0.11		0.22	0.6	-0.63	0.4	0.91	-0.37	XPON
POLA	0.02	0.26	0.42	0.22		0.24	0.01	0.26	0.25	0.25	POLA
LTBR	0.33	-0.27	0.21	0.6	0.24		-0.15	0.68	0.7	0.11	LTBR
EOSE	-0.85	0.81	0.54	-0.63	0.01	-0.15		-0.17	-0.54	0.79	EOSE
ENS	0.28	-0.27	0.04	0.4	0.26	0.68	-0.17		0.54	0.02	ENS
FLUX	0.7	-0.55	0.14	0.91	0.25	0.7	-0.54	0.54		-0.26	FLUX
ENVX	-0.58	0.8	0.6	-0.37	0.25	0.11	0.79	0.02	-0.26		ENVX
	PPSI	OPTT	IPWR	XPON	POLA	LTBR	EOSE	ENS	FLUX	ENVX

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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

FLUX	+ 0.91	XPON
EOSE	+ 0.81	OPTT
ENVX	+ 0.8	OPTT
ENVX	+ 0.79	EOSE
XPON	+ 0.74	PPSI
FLUX	+ 0.7	PPSI

High negative correlations

EOSE	- 0.85	PPSI
OPTT	- 0.67	PPSI
EOSE	- 0.63	XPON
XPON	- 0.59	OPTT
ENVX	- 0.58	PPSI
FLUX	- 0.55	OPTT

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
PPSI	2.09	(0.38)	0.00	(0.97)	0.00	0.00	4.25	(4.68)	14.59
OPTT	12.16	4.10	0.25	(1.01)	10.51	(20.41)	40.00	(12.50)	117.25
IPWR	3.55	(0.08)	(0.01)	0.00	4.57	(3.79)	9.66	(7.51)	23.56
XPON	5.17	(0.94)	0.00	1.14	0.00	0.00	11.00	(11.14)	46.51
POLA	4.34	(0.01)	0.00	0.06	5.12	(5.22)	11.35	(8.89)	27.36
LTBR	9.00	0.82	0.10	0.34	9.44	(10.94)	26.04	(13.21)	64.27
EOSE	5.00	0.93	0.18	0.76	4.92	(6.35)	13.38	(7.30)	28.72
ENS	1.31	(0.06)	0.00	(0.05)	0.00	0.00	2.76	(2.23)	8.89
FLUX	4.39	(0.76)	0.00	(1.80)	0.00	0.00	9.43	(11.43)	32.32
ENVX	4.53	0.36	0.06	0.63	5.50	(4.67)	11.41	(7.74)	35.83

CBAK Energy Corporate Management

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

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