GreenPower Correlations

GP Stock

USD 0.78 0.02 2.63%

The current 90-days correlation between GreenPower Motor and Chanson International Holding is -0.03 (i.e., Good 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

Average diversification

The correlation between GreenPower Motor and DJI is 0.16 (i.e., Average 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.

Build AI portfolio with GreenPower Stock

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 inflation.

Moving together with GreenPower Stock

0.67	002526	Shandong Mining Machinery	Pair Corr
0.86	WPRT	Westport Fuel Systems	Pair Corr
0.87	000880	Weichai Heavy Machinery	Pair Corr
0.81	002480	Chengdu Xinzhu RoadBridge	Pair Corr
0.7	300210	Anshan Senyuan Road	Pair Corr
0.66	CTDD	Qwest Corp 6	Pair Corr
0.74	SKM	SK Telecom	Pair Corr

Moving against GreenPower Stock

0.8	CAT	Caterpillar	Pair Corr
0.8	PCAR	PACCAR Inc	Pair Corr
0.74	300099	Uroica Mining Safety	Pair Corr
0.69	PLOW	Douglas Dynamics	Pair Corr
0.68	300818	Jiangxi Naipu Mining	Pair Corr
0.68	FINN	First National	Pair Corr
0.67	600984	Shaanxi Construction	Pair Corr
0.58	301039	CIMC Vehicles	Pair Corr
0.43	PKX	POSCO Holdings	Pair Corr
0.94	LCDX	Caliber Imaging Diag	Pair Corr
0.91	FTV	Fortive Corp	Pair Corr
0.9	ARVN	Arvinas	Pair Corr
0.86	NAUFF	NevGold Corp	Pair Corr
0.85	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.83	PLTK	Playtika Holding Corp	Pair Corr
0.83	DGWPF	Drgerwerk AG	Pair Corr
0.82	TMSNY	Temenos Group AG	Pair Corr
0.81	HYMTF	Hyundai Motor	Pair Corr
0.8	SYF	Synchrony Financial	Pair Corr
0.78	KB	KB Financial Group	Pair Corr
0.77	CICOY	COSCO SHIPPING Holdings	Pair Corr

Related Correlations Analysis

	PRPL	KNDI	CHSN	FLL	GGR	HOFT	GRWG	UFI	DIBS	STKS
PRPL		0.77	0.72	0.42	0.79	-0.57	0.29	0.75	-0.66	0.79	PRPL
KNDI	0.77		0.58	0.02	0.71	-0.88	0.19	0.89	-0.94	0.87	KNDI
CHSN	0.72	0.58		0.3	0.69	-0.37	0.1	0.56	-0.49	0.6	CHSN
FLL	0.42	0.02	0.3		0.26	0.18	0.58	0.0	0.14	0.09	FLL
GGR	0.79	0.71	0.69	0.26		-0.45	0.29	0.6	-0.67	0.62	GGR
HOFT	-0.57	-0.88	-0.37	0.18	-0.45		-0.17	-0.86	0.89	-0.78	HOFT
GRWG	0.29	0.19	0.1	0.58	0.29	-0.17		0.16	-0.15	0.17	GRWG
UFI	0.75	0.89	0.56	0.0	0.6	-0.86	0.16		-0.9	0.9	UFI
DIBS	-0.66	-0.94	-0.49	0.14	-0.67	0.89	-0.15	-0.9		-0.86	DIBS
STKS	0.79	0.87	0.6	0.09	0.62	-0.78	0.17	0.9	-0.86		STKS
	PRPL	KNDI	CHSN	FLL	GGR	HOFT	GRWG	UFI	DIBS	STKS

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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

STKS	+ 0.9	UFI
UFI	+ 0.89	KNDI
DIBS	+ 0.89	HOFT
STKS	+ 0.87	KNDI
GGR	+ 0.79	PRPL
STKS	+ 0.79	PRPL

High negative correlations

DIBS	- 0.94	KNDI
DIBS	- 0.9	UFI
HOFT	- 0.88	KNDI
STKS	- 0.86	DIBS
UFI	- 0.86	HOFT
STKS	- 0.78	HOFT

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
PRPL	2.96	(0.43)	0.00	(0.55)	0.00	0.00	6.25	(5.48)	27.01
KNDI	2.45	(0.67)	0.00	(0.24)	0.00	0.00	4.44	(5.10)	19.77
CHSN	3.76	(0.31)	0.00	(0.40)	0.00	0.00	10.05	(6.48)	30.45
FLL	2.78	(0.26)	0.00	(0.20)	0.00	0.00	5.84	(5.09)	16.22
GGR	3.24	(0.98)	0.00	(0.48)	0.00	0.00	6.54	(9.06)	23.10
HOFT	2.12	0.13	0.03	0.58	2.74	(2.10)	4.16	(3.71)	14.96
GRWG	3.68	(0.03)	(0.01)	0.01	4.28	(4.51)	5.36	(6.12)	52.12
UFI	2.35	(0.25)	0.00	(1.05)	0.00	0.00	3.19	(5.34)	23.23
DIBS	3.17	1.17	0.41	0.63	2.29	(3.99)	9.58	(4.49)	23.12
STKS	2.23	(0.30)	0.00	(0.20)	0.00	0.00	5.14	(5.64)	16.43

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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