Hesai Group Correlations

HSAI Stock

4.61 0.10 2.22%

The current 90-days correlation between Hesai Group American and Garrett Motion is 0.25 (i.e., Modest diversification). The correlation of Hesai Group 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.

Hesai Group Correlation With Market

Significant diversification

The correlation between Hesai Group American and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hesai Group American 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 Hesai Group American. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Hesai Stock

0.92	LI	Li Auto	Pair Corr
0.77	ZK	ZEEKR Intelligent	Pair Corr
0.67	BWA	BorgWarner	Pair Corr
0.66	NIO	Nio Class A Aggressive Push	Pair Corr
0.91	NIU	Niu Technologies	Pair Corr
0.66	XPEV	Xpeng Inc	Pair Corr

Moving against Hesai Stock

0.56	VLCN	Volcon Inc	Pair Corr
0.46	FFIE	Faraday Future Intel Buyout Trend	Pair Corr
0.37	VC	Visteon Corp	Pair Corr
0.55	GGR	Gogoro Inc	Pair Corr
0.44	LOT	Lotus Technology American Earnings Call Today	Pair Corr
0.41	GOEV	Canoo Inc	Pair Corr
0.38	ALV	Autoliv	Pair Corr
0.35	HOG	Harley Davidson	Pair Corr
0.64	VFSWW	VinFast Auto	Pair Corr
0.58	MULN	Mullen Automotive	Pair Corr
0.44	NCNC	noco noco Ordinary	Pair Corr
0.4	GGROW	Gogoro Equity Warrant	Pair Corr
0.37	NWTN	NWTN Class B	Pair Corr
0.36	ZAPP	Zapp Electric Vehicles	Pair Corr

Related Correlations Analysis

	GTX	MGA	MLR	MOD	XPEL	SAG	SES	SMP	SUP	XOS
GTX		0.01	-0.46	0.12	0.56	-0.5	0.52	0.09	0.56	0.41	GTX
MGA	0.01		0.69	0.46	0.32	0.06	-0.58	0.31	-0.39	-0.15	MGA
MLR	-0.46	0.69		0.4	-0.02	0.19	-0.79	0.32	-0.56	-0.3	MLR
MOD	0.12	0.46	0.4		0.05	0.09	-0.6	-0.04	-0.44	-0.4	MOD
XPEL	0.56	0.32	-0.02	0.05		-0.59	0.17	0.44	0.15	0.29	XPEL
SAG	-0.5	0.06	0.19	0.09	-0.59		-0.18	-0.5	-0.12	0.0	SAG
SES	0.52	-0.58	-0.79	-0.6	0.17	-0.18		-0.19	0.84	0.65	SES
SMP	0.09	0.31	0.32	-0.04	0.44	-0.5	-0.19		-0.24	-0.14	SMP
SUP	0.56	-0.39	-0.56	-0.44	0.15	-0.12	0.84	-0.24		0.79	SUP
XOS	0.41	-0.15	-0.3	-0.4	0.29	0.0	0.65	-0.14	0.79		XOS
	GTX	MGA	MLR	MOD	XPEL	SAG	SES	SMP	SUP	XOS

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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

SUP	+ 0.84	SES
XOS	+ 0.79	SUP
MLR	+ 0.69	MGA
XOS	+ 0.65	SES
XPEL	+ 0.56	GTX
SUP	+ 0.56	GTX

High negative correlations

SES	- 0.79	MLR
SES	- 0.6	MOD
SAG	- 0.59	XPEL
SES	- 0.58	MGA
SUP	- 0.56	MLR
SMP	- 0.5	SAG

Risk-Adjusted Indicators

There is a big difference between Hesai Stock performing well and Hesai Group 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 Hesai Group'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
GTX	1.25	(0.12)	0.00	(0.03)	0.00	0.00	2.28	(2.44)	11.39
MGA	1.52	(0.01)	0.01	0.08	2.06	(1.46)	2.91	(3.77)	9.36
MLR	1.59	0.06	0.05	0.12	2.19	(1.79)	3.82	(2.55)	19.14
MOD	2.90	0.12	0.08	0.12	3.54	(3.04)	7.69	(5.59)	21.50
XPEL	1.83	(0.11)	(0.01)	0.03	1.97	(2.08)	3.52	(3.08)	9.01
SAG	6.63	(3.61)	0.00	9.58	0.00	0.00	9.89	(14.23)	24.18
SES	4.75	(1.68)	0.00	(1.04)	0.00	0.00	9.38	(13.27)	28.95
SMP	1.76	(0.05)	0.00	0.05	1.97	(1.97)	3.71	(3.41)	24.56
SUP	2.02	(0.58)	0.00	2.73	0.00	0.00	3.62	(5.26)	12.77
XOS	2.05	(0.53)	0.00	(1.14)	0.00	0.00	2.80	(4.94)	29.19

Hesai Group Corporate Executives

Elected by the shareholders, the Hesai Group's board of directors comprises two types of representatives: Hesai Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hesai. The board's role is to monitor Hesai Group's management team and ensure that shareholders' interests are well served. Hesai Group'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, Hesai Group's outside directors are responsible for providing unbiased perspectives on the board's policies.

	Shaoqing Xiang	CTO CoFounder	Profile
	Kai Sun	Chief CoFounder	Profile

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