GreenPower Correlations

GP Stock

USD 0.81 0.01 1.22%

The current 90-days correlation between GreenPower Motor and Deere Company is 0.02 (i.e., Significant diversification). The correlation of GreenPower 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.

GreenPower Correlation With Market

Good diversification

The correlation between GreenPower Motor and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GreenPower Motor and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GreenPower Motor. 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.

Moving together with GreenPower Stock

0.88	HY	Hyster Yale Materials	Pair Corr
0.69	XOS	Xos Inc	Pair Corr
0.82	NKLA	Nikola Corp Buyout Trend	Pair Corr
0.61	BLBD	Blue Bird Corp	Pair Corr

Moving against GreenPower Stock

0.66	MNTX	Manitex International	Pair Corr
0.63	REVG	Rev Group	Pair Corr
0.52	ALG	Alamo Group	Pair Corr
0.36	LNN	Lindsay	Pair Corr
0.35	PCAR	PACCAR Inc Earnings Call This Week	Pair Corr
0.32	CEADW	CEA Industries Warrant	Pair Corr
0.81	AZ	A2Z Smart Technologies	Pair Corr
0.68	BE	Bloom Energy Corp	Pair Corr
0.64	R	Ryder System	Pair Corr
0.64	AL	Air Lease	Pair Corr
0.63	G	Genpact Limited	Pair Corr
0.59	B	Barnes Group Earnings Call This Week	Pair Corr
0.57	AGFY	Agrify Corp	Pair Corr
0.53	CMCO	Columbus McKinnon	Pair Corr
0.53	BR	Broadridge Financial	Pair Corr
0.43	ASTE	Astec Industries	Pair Corr
0.38	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.36	CEAD	CEA Industries	Pair Corr

Related Correlations Analysis

	DE	GP	HY	CEADW	ALG	CNH	LNN	MTW	OSK
DE		-0.28	-0.27	0.23	0.51	0.88	0.64	0.07	0.03	DE
GP	-0.28		0.88	-0.32	-0.52	-0.11	-0.36	0.21	0.3	GP
HY	-0.27	0.88		-0.3	-0.44	-0.05	-0.36	0.28	0.41	HY
CEADW	0.23	-0.32	-0.3		0.19	0.19	0.31	-0.07	-0.17	CEADW
ALG	0.51	-0.52	-0.44	0.19		0.41	0.74	0.51	0.46	ALG
CNH	0.88	-0.11	-0.05	0.19	0.41		0.67	0.2	0.21	CNH
LNN	0.64	-0.36	-0.36	0.31	0.74	0.67		0.45	0.36	LNN
MTW	0.07	0.21	0.28	-0.07	0.51	0.2	0.45		0.93	MTW
OSK	0.03	0.3	0.41	-0.17	0.46	0.21	0.36	0.93		OSK
	DE	GP	HY	CEADW	ALG	CNH	LNN	MTW	OSK

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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

OSK	+ 0.93	MTW
CNH	+ 0.88	DE
HY	+ 0.88	GP
LNN	+ 0.74	ALG
LNN	+ 0.67	CNH
LNN	+ 0.64	DE

High negative correlations

ALG	- 0.52	GP
ALG	- 0.44	HY
LNN	- 0.36	HY
LNN	- 0.36	GP
CEADW	- 0.32	GP
CEADW	- 0.3	HY

Risk-Adjusted Indicators

There is a big difference between GreenPower Stock performing well and GreenPower 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 GreenPower'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
DE	1.24	0.11	0.08	0.47	1.32	(1.49)	2.39	(1.91)	12.01
GP	4.34	(0.44)	0.00	0.52	0.00	0.00	8.60	(9.57)	41.55
HY	1.68	(0.34)	0.00	0.40	0.00	0.00	3.18	(3.69)	17.87
CEADW	31.72	9.46	0.26	(21.63)	24.18	(46.26)	100.00	(59.60)	361.79
ALG	1.31	0.05	0.03	0.21	1.55	(1.33)	2.28	(2.40)	13.75
CNH	1.41	0.12	0.05	0.80	2.23	(1.39)	3.52	(2.45)	11.27
LNN	1.41	0.13	0.08	0.34	1.44	(1.68)	2.90	(2.42)	13.76
MTW	2.31	(0.05)	0.00	(0.04)	0.00	0.00	5.49	(4.01)	20.32
OSK	1.47	(0.13)	0.00	(0.26)	0.00	0.00	2.27	(2.82)	14.57

GreenPower Corporate Management

Amber Parrish	HR Mang	Profile
Taylor Freeland	Manager Resources	Profile
Frank Zhang	Corporate Controller	Profile
Claus Tritt	Vice Sales	Profile

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