Enersys Correlations

ENS Stock

USD 97.52 2.48 2.61%

The current 90-days correlation between Enersys and Bloom Energy Corp is 0.13 (i.e., Average diversification). The correlation of Enersys 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.

Enersys Correlation With Market

Poor diversification

The correlation between Enersys and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enersys and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enersys. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

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

Moving together with Enersys Stock

0.62

IPWR

Ideal Power

Pair Corr

Moving against Enersys Stock

0.5	BE	Bloom Energy Corp	Pair Corr
0.48	FREY	FREYR Battery SA	Pair Corr
0.5	NEOV	NeoVolta Common Stock	Pair Corr
0.48	STI	Solidion Technology Symbol Change	Pair Corr
0.39	MVST	Microvast Holdings	Pair Corr
0.46	XNNHQ	Xenonics Holdings	Pair Corr
0.43	MVSTW	Microvast Holdings	Pair Corr
0.39	APWC	Asia Pacific Wire	Pair Corr
0.32	RAYA	Erayak Power Solution	Pair Corr

Related Correlations Analysis

	BE	EOSE	EPOW	FLUX	EAF	ENR
BE		-0.4	-0.7	-0.74	0.41	0.76	BE
EOSE	-0.4		0.1	0.24	0.37	0.04	EOSE
EPOW	-0.7	0.1		0.76	-0.7	-0.74	EPOW
FLUX	-0.74	0.24	0.76		-0.69	-0.7	FLUX
EAF	0.41	0.37	-0.7	-0.69		0.74	EAF
ENR	0.76	0.04	-0.74	-0.7	0.74		ENR
	BE	EOSE	EPOW	FLUX	EAF	ENR

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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

ENR	+ 0.76	BE
FLUX	+ 0.76	EPOW
ENR	+ 0.74	EAF
EAF	+ 0.41	BE
EAF	+ 0.37	EOSE
FLUX	+ 0.24	EOSE

High negative correlations

ENR	- 0.74	EPOW
FLUX	- 0.74	BE
ENR	- 0.7	FLUX
EAF	- 0.7	EPOW
EPOW	- 0.7	BE
EAF	- 0.69	FLUX

Risk-Adjusted Indicators

There is a big difference between Enersys Stock performing well and Enersys 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 Enersys' 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
BE	4.54	1.50	0.40	3.91	2.91	(6.20)	7.90	(4.95)	62.65
EOSE	4.77	0.37	0.05	(3.71)	5.11	(6.20)	10.09	(7.87)	46.30
EPOW	2.60	(0.22)	0.00	0.57	0.00	0.00	5.05	(5.88)	18.50
FLUX	3.23	(0.84)	0.00	(0.36)	0.00	0.00	7.14	(6.40)	22.65
EAF	5.32	1.88	0.28	1.71	5.20	(7.25)	15.07	(8.77)	38.40
ENR	1.07	0.34	0.17	1.60	1.06	(1.28)	2.67	(1.29)	12.72

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