GreenPower Correlations

GP Stock

USD 0.97 0.04 4.30%

The current 90-days correlation between GreenPower Motor and Chanson International Holding is 0.01 (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

Very good diversification

The correlation between GreenPower Motor and DJI is -0.4 (i.e., Very 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.

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 metropolitan statistical area.

Moving against GreenPower Stock

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0.55	PCAR	PACCAR Inc	Pair Corr
0.55	TLKMF	Telkom Indonesia Tbk	Pair Corr
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0.49	PLOW	Douglas Dynamics	Pair Corr
0.4	TLK	Telkom Indonesia Tbk	Pair Corr
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0.39	IFSPF	Interfor	Pair Corr
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0.31	CAT	Caterpillar	Pair Corr
0.81	377320AA4	US377320AA45	Pair Corr
0.67	VFC	VF Corporation	Pair Corr
0.59	ADHI	Arsenal Digital Holdings	Pair Corr
0.56	CP	Canadian Pacific Railway	Pair Corr
0.52	ACN	Accenture plc	Pair Corr
0.46	LSBK	Lake Shore Bancorp	Pair Corr
0.46	KGC	Kinross Gold	Pair Corr
0.42	GOLD	Gold Inc Earnings Call This Week	Pair Corr
0.37	REX	REX American Resources	Pair Corr
0.34	ARRJF	Arjo AB	Pair Corr

Related Correlations Analysis

	PRPL	KNDI	CHSN	FLL	GGR	HOFT	GRWG	UFI	DIBS	STKS
PRPL		0.29	0.17	0.37	0.44	-0.42	0.18	0.22	-0.17	0.27	PRPL
KNDI	0.29		-0.05	-0.32	0.28	-0.22	-0.28	0.54	-0.67	0.49	KNDI
CHSN	0.17	-0.05		0.4	0.33	-0.06	0.01	-0.12	0.27	-0.31	CHSN
FLL	0.37	-0.32	0.4		0.29	-0.09	0.46	-0.34	0.46	-0.42	FLL
GGR	0.44	0.28	0.33	0.29		-0.67	0.26	-0.29	-0.41	-0.26	GGR
HOFT	-0.42	-0.22	-0.06	-0.09	-0.67		-0.31	0.06	0.7	0.23	HOFT
GRWG	0.18	-0.28	0.01	0.46	0.26	-0.31		-0.33	0.04	-0.28	GRWG
UFI	0.22	0.54	-0.12	-0.34	-0.29	0.06	-0.33		-0.39	0.74	UFI
DIBS	-0.17	-0.67	0.27	0.46	-0.41	0.7	0.04	-0.39		-0.25	DIBS
STKS	0.27	0.49	-0.31	-0.42	-0.26	0.23	-0.28	0.74	-0.25		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	+ 0.74	UFI
DIBS	+ 0.7	HOFT
UFI	+ 0.54	KNDI
STKS	+ 0.49	KNDI
GRWG	+ 0.46	FLL
DIBS	+ 0.46	FLL

High negative correlations

HOFT	- 0.67	GGR
DIBS	- 0.67	KNDI
STKS	- 0.42	FLL
HOFT	- 0.42	PRPL
DIBS	- 0.41	GGR
DIBS	- 0.39	UFI

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	3.03	(0.23)	0.00	(0.53)	0.00	0.00	6.25	(5.48)	27.01
KNDI	3.18	0.02	(0.01)	(0.01)	3.09	(4.95)	8.16	(5.88)	19.77
CHSN	3.74	(0.08)	0.00	(0.28)	0.00	0.00	10.05	(5.96)	22.51
FLL	2.53	(0.01)	(0.01)	0.00	3.01	(2.72)	4.86	(4.32)	16.22
GGR	2.80	(0.29)	0.00	(0.26)	0.00	0.00	6.78	(5.51)	23.10
HOFT	1.83	0.63	0.23	(1.07)	1.90	(2.08)	4.90	(3.41)	14.96
GRWG	3.52	(0.20)	0.00	(0.60)	0.00	0.00	3.33	(5.82)	52.12
UFI	2.70	(0.10)	0.00	(0.20)	0.00	0.00	5.80	(5.47)	24.16
DIBS	2.97	0.74	0.26	0.56	2.36	(3.99)	9.58	(4.63)	23.12
STKS	2.71	(0.22)	0.00	(0.09)	0.00	0.00	5.75	(5.69)	28.79

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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