FuelCell Energy Correlations

FCEL Stock

USD 8.17 0.86 11.76%

The current 90-days correlation between FuelCell Energy and SKYX Platforms Corp is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FuelCell Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FuelCell Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FuelCell Energy Correlation With Market

Very weak diversification

The correlation between FuelCell Energy and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FuelCell Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FuelCell Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FuelCell Energy. 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 FuelCell Stock please use our How to buy in FuelCell Stock guide.

Moving together with FuelCell Stock

0.75	PLUG	Plug Power Buyout Trend	Pair Corr
0.64	BEEM	Beam Global	Pair Corr

Moving against FuelCell Stock

0.59	600110	Nuode Investment	Pair Corr
0.39	300032	Jinlong Machinery	Pair Corr
0.75	PBCRY	Bank Central Asia	Pair Corr
0.64	PBCRF	PT Bank Central	Pair Corr
0.64	TLK	Telkom Indonesia Tbk	Pair Corr
0.58	CICOY	COSCO SHIPPING Holdings	Pair Corr

Related Correlations Analysis

	SKYX	MVST	DFLI	BLNK	NVX	NEOV	RGP	POWW	VWAV	ALTG
SKYX		-0.74	-0.75	-0.88	-0.74	-0.8	0.73	0.79	-0.4	-0.67	SKYX
MVST	-0.74		0.86	0.82	0.73	0.5	-0.86	-0.76	0.71	0.8	MVST
DFLI	-0.75	0.86		0.91	0.82	0.7	-0.74	-0.68	0.42	0.83	DFLI
BLNK	-0.88	0.82	0.91		0.81	0.84	-0.78	-0.76	0.42	0.76	BLNK
NVX	-0.74	0.73	0.82	0.81		0.63	-0.63	-0.76	0.36	0.81	NVX
NEOV	-0.8	0.5	0.7	0.84	0.63		-0.55	-0.51	0.2	0.46	NEOV
RGP	0.73	-0.86	-0.74	-0.78	-0.63	-0.55		0.71	-0.76	-0.53	RGP
POWW	0.79	-0.76	-0.68	-0.76	-0.76	-0.51	0.71		-0.48	-0.69	POWW
VWAV	-0.4	0.71	0.42	0.42	0.36	0.2	-0.76	-0.48		0.32	VWAV
ALTG	-0.67	0.8	0.83	0.76	0.81	0.46	-0.53	-0.69	0.32		ALTG
	SKYX	MVST	DFLI	BLNK	NVX	NEOV	RGP	POWW	VWAV	ALTG

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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

BLNK	+ 0.91	DFLI
DFLI	+ 0.86	MVST
NEOV	+ 0.84	BLNK
ALTG	+ 0.83	DFLI
BLNK	+ 0.82	MVST
NVX	+ 0.82	DFLI

High negative correlations

BLNK	- 0.88	SKYX
RGP	- 0.86	MVST
NEOV	- 0.8	SKYX
RGP	- 0.78	BLNK
VWAV	- 0.76	RGP
POWW	- 0.76	NVX

Risk-Adjusted Indicators

There is a big difference between FuelCell Stock performing well and FuelCell 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 FuelCell 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
SKYX	5.35	1.21	0.29	0.36	4.28	(6.57)	15.04	(7.19)	26.24
MVST	3.85	(0.78)	0.00	(0.31)	0.00	0.00	6.02	(8.91)	31.06
DFLI	8.99	(1.78)	0.00	(0.14)	0.00	0.00	20.58	(18.33)	82.06
BLNK	4.36	(1.97)	0.00	(0.60)	0.00	0.00	7.82	(9.42)	26.30
NVX	4.89	(0.55)	0.00	(1.93)	0.00	0.00	11.86	(10.75)	56.77
NEOV	4.46	(0.72)	0.00	(0.25)	0.00	0.00	9.07	(10.40)	27.03
RGP	2.13	0.05	0.01	0.13	2.69	(2.24)	4.68	(4.49)	11.85
POWW	2.54	0.19	0.06	0.18	2.98	(2.91)	6.14	(4.71)	16.03
VWAV	6.30	0.49	0.07	0.33	6.83	(7.55)	13.65	(10.78)	37.69
ALTG	2.70	(0.59)	0.00	(0.19)	0.00	0.00	5.64	(4.75)	14.16

FuelCell Energy Corporate Management

Kix Ryen	Chief VP	Profile
Parimal	Chief Officer	Profile
Mike Hill	Executive Officer	Profile
Betsy Schaefer	Chief Officer	Profile
Lilyanne McClean	Senior Affairs	Profile

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