FuelCell Energy Correlations

FEY2 Stock

EUR 8.99 0.31 3.33%

The current 90-days correlation between FuelCell Energy and Alfen NV is 0.06 (i.e., Significant diversification). The correlation of FuelCell 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.

FuelCell Energy Correlation With Market

Significant diversification

The correlation between FuelCell Energy and DJI is 0.05 (i.e., Significant 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.

The ability to find closely correlated positions to FuelCell Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FuelCell Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FuelCell Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FuelCell Energy to buy it.

Moving against FuelCell Stock

0.41	NVAW	Delta Electronics Public	Pair Corr
0.36	49V	VERTIV HOLCL A	Pair Corr
0.33	VAR1	Varta AG	Pair Corr
0.37	WMR0	MOAB MINERALS LTD	Pair Corr
0.37	TM5	T Mobile	Pair Corr
0.31	3EC	Eaton PLC	Pair Corr
0.5	G6G	GrafTech International	Pair Corr
0.34	BRYN	Berkshire Hathaway	Pair Corr
0.33	KEY	KeyCorp	Pair Corr

Related Correlations Analysis

	NVAW	YEC0	PLUN	49V	OSR	1ZB	703
NVAW		-0.84	0.37	0.86	0.86	0.69	-0.65	NVAW
YEC0	-0.84		-0.46	-0.78	-0.84	-0.68	0.6	YEC0
PLUN	0.37	-0.46		0.31	0.66	0.56	-0.19	PLUN
49V	0.86	-0.78	0.31		0.83	0.82	-0.71	49V
OSR	0.86	-0.84	0.66	0.83		0.86	-0.62	OSR
1ZB	0.69	-0.68	0.56	0.82	0.86		-0.66	1ZB
703	-0.65	0.6	-0.19	-0.71	-0.62	-0.66		703
	NVAW	YEC0	PLUN	49V	OSR	1ZB	703

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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

49V	+ 0.86	NVAW
OSR	+ 0.86	NVAW
1ZB	+ 0.86	OSR
OSR	+ 0.83	49V
1ZB	+ 0.82	49V
1ZB	+ 0.69	NVAW

High negative correlations

OSR	- 0.84	YEC0
YEC0	- 0.84	NVAW
49V	- 0.78	YEC0
703	- 0.71	49V
1ZB	- 0.68	YEC0
703	- 0.66	1ZB

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
NVAW	2.37	0.57	0.16	2.93	2.86	(2.88)	5.70	(5.56)	15.84
YEC0	1.48	(0.23)	0.00	1.33	0.00	0.00	2.61	(2.94)	10.75
PLUN	4.23	0.72	0.12	(1.75)	5.04	(5.54)	12.85	(6.79)	39.23
49V	2.92	0.52	0.17	1.07	2.85	(3.46)	5.89	(4.26)	21.91
OSR	0.16	0.03	0.02	3.12	0.00	(0.39)	0.40	(0.39)	0.79
1ZB	4.97	1.83	0.41	(3.91)	3.41	(6.50)	10.45	(5.75)	94.37
703	2.19	(0.19)	0.00	1.61	0.00	0.00	4.71	(4.58)	14.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in FuelCell Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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FuelCell Energy Corporate Management

Elected by the shareholders, the FuelCell Energy's board of directors comprises two types of representatives: FuelCell Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of FuelCell. The board's role is to monitor FuelCell Energy's management team and ensure that shareholders' interests are well served. FuelCell Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, FuelCell Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Parimal	Chief Officer	Profile
Chris Groobey	Director	Profile
Betsy Schaefer	Chief Officer	Profile
Thomas Gelston	Sr Relations	Profile

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