ChargePoint Holdings Correlations

CHPT Stock

USD 0.96 0 0.21%

The current 90-days correlation between ChargePoint Holdings and Pet Acquisition LLC is 0.16 (i.e., Average diversification). The correlation of ChargePoint Holdings 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.

ChargePoint Holdings Correlation With Market

Good diversification

The correlation between ChargePoint Holdings and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ChargePoint Holdings 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 ChargePoint Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with ChargePoint Stock

0.7	NVVE	Nuvve Holding Corp	Pair Corr
0.66	EBET	Ebet Inc	Pair Corr
0.69	IVP	Inspire Veterinary	Pair Corr
0.67	FXLV	F45 Training Holdings	Pair Corr
0.71	MED	MEDIFAST INC	Pair Corr

Moving against ChargePoint Stock

0.43	ELYS	Elys Game Technology	Pair Corr
0.38	IP	International Paper	Pair Corr
0.36	AIN	Albany International	Pair Corr
0.35	ZOOZW	ZOOZ Power	Pair Corr
0.33	SW	Smurfit WestRock plc Earnings Call This Week	Pair Corr
0.58	JXG	JX Luxventure Limited Symbol Change	Pair Corr
0.53	NCL	Northann Corp	Pair Corr
0.53	BC-PB	Brunswick Corp	Pair Corr
0.5	KAR	KAR Auction Services	Pair Corr
0.41	ECG	Everus Construction	Pair Corr
0.32	KRT	Karat Packaging	Pair Corr

Related Correlations Analysis

	WOOF	ULTA	BBY	DKS	RH	AZO	WSM
WOOF		-0.15	0.54	-0.56	-0.44	-0.18	-0.37	WOOF
ULTA	-0.15		-0.5	0.72	0.71	0.76	0.66	ULTA
BBY	0.54	-0.5		-0.64	-0.79	-0.55	-0.76	BBY
DKS	-0.56	0.72	-0.64		0.85	0.76	0.87	DKS
RH	-0.44	0.71	-0.79	0.85		0.79	0.94	RH
AZO	-0.18	0.76	-0.55	0.76	0.79		0.79	AZO
WSM	-0.37	0.66	-0.76	0.87	0.94	0.79		WSM
	WOOF	ULTA	BBY	DKS	RH	AZO	WSM

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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

WSM	+ 0.94	RH
WSM	+ 0.87	DKS
RH	+ 0.85	DKS
AZO	+ 0.79	RH
WSM	+ 0.79	AZO
AZO	+ 0.76	ULTA

High negative correlations

RH	- 0.79	BBY
WSM	- 0.76	BBY
DKS	- 0.64	BBY
DKS	- 0.56	WOOF
AZO	- 0.55	BBY
BBY	- 0.5	ULTA

Risk-Adjusted Indicators

There is a big difference between ChargePoint Stock performing well and ChargePoint Holdings 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 ChargePoint Holdings' 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
WOOF	3.48	(0.25)	0.00	(0.46)	0.00	0.00	7.68	(6.76)	25.95
ULTA	1.62	0.21	0.07	8.76	1.55	(1.92)	4.23	(3.16)	12.40
BBY	1.32	(0.11)	0.00	0.95	0.00	0.00	2.90	(2.96)	8.78
DKS	1.59	0.31	0.11	(1.15)	1.54	(1.89)	3.92	(2.70)	9.12
RH	2.29	0.40	0.16	0.66	2.14	(2.83)	5.50	(3.72)	23.92
AZO	1.03	0.07	0.00	0.40	1.00	(1.12)	2.15	(1.72)	6.89
WSM	2.02	0.71	0.33	1.41	1.52	(2.47)	3.43	(3.07)	33.66

ChargePoint Holdings Corporate Management

Mansi Khetani	Chief Officer	Profile
Hossein Kazemi	Chief Hardware	Profile
Michael Linse	Independent Director	Profile
Jagdeep Singh	Chief Officer	Profile
Ekta Singhbushell	Independent Director	Profile
Sherice Torres	Chief Officer	Profile
Jeffrey Harris	Independent Director	Profile

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