Hyliion Holdings Correlations

HYLN Stock

USD 2.12 0.02 0.93%

The current 90-days correlation between Hyliion Holdings Corp and Foresight Autonomous Holdings is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hyliion Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyliion Holdings Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hyliion Holdings Correlation With Market

Weak diversification

The correlation between Hyliion Holdings Corp and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hyliion Holdings Corp 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 Hyliion Holdings Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Hyliion Stock

0.81	VSTE	Vast Renewables	Pair Corr
0.7	BBU	Brookfield Business	Pair Corr
0.88	CNR	Core Natural Resources, Symbol Change	Pair Corr
0.67	HON	Honeywell International	Pair Corr
0.8	MPU	Mega Matrix Corp	Pair Corr
0.78	RUN	Sunrun Inc Earnings Call This Week	Pair Corr
0.75	NNBR	NN Inc	Pair Corr
0.74	VIRC	Virco Manufacturing	Pair Corr
0.71	F-PC	Ford Motor	Pair Corr
0.61	AIN	Albany International	Pair Corr
0.83	AVY	Avery Dennison Corp	Pair Corr

Moving against Hyliion Stock

0.64	MMM	3M Company	Pair Corr
0.6	MVST	Microvast Holdings Aggressive Push	Pair Corr
0.59	NXT	Nextracker Class A	Pair Corr
0.44	SLDP	Solid Power	Pair Corr
0.64	CYD	China Yuchai Interna	Pair Corr
0.52	GTX	Garrett Motion	Pair Corr
0.43	FIGS	Figs Inc	Pair Corr

Related Correlations Analysis

	QS	MBLY	INVZ	AEVA	LAZR	WPRT	FRSX	AXL	GNTX	LIDR
QS		0.65	0.6	0.7	-0.21	-0.29	0.66	-0.09	-0.08	0.82	QS
MBLY	0.65		0.25	0.64	-0.19	-0.3	0.41	0.11	0.17	0.57	MBLY
INVZ	0.6	0.25		0.45	-0.63	-0.38	0.83	-0.57	-0.5	0.49	INVZ
AEVA	0.7	0.64	0.45		-0.3	-0.1	0.47	0.14	0.08	0.65	AEVA
LAZR	-0.21	-0.19	-0.63	-0.3		0.16	-0.49	0.52	0.48	0.0	LAZR
WPRT	-0.29	-0.3	-0.38	-0.1	0.16		-0.56	0.11	-0.03	-0.38	WPRT
FRSX	0.66	0.41	0.83	0.47	-0.49	-0.56		-0.45	-0.35	0.48	FRSX
AXL	-0.09	0.11	-0.57	0.14	0.52	0.11	-0.45		0.94	0.07	AXL
GNTX	-0.08	0.17	-0.5	0.08	0.48	-0.03	-0.35	0.94		0.07	GNTX
LIDR	0.82	0.57	0.49	0.65	0.0	-0.38	0.48	0.07	0.07		LIDR
	QS	MBLY	INVZ	AEVA	LAZR	WPRT	FRSX	AXL	GNTX	LIDR

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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

GNTX	+ 0.94	AXL
FRSX	+ 0.83	INVZ
LIDR	+ 0.82	QS
AEVA	+ 0.7	QS
FRSX	+ 0.66	QS
MBLY	+ 0.65	QS

High negative correlations

LAZR	- 0.63	INVZ
AXL	- 0.57	INVZ
FRSX	- 0.56	WPRT
GNTX	- 0.5	INVZ
FRSX	- 0.49	LAZR
AXL	- 0.45	FRSX

Risk-Adjusted Indicators

There is a big difference between Hyliion Stock performing well and Hyliion Holdings 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 Hyliion Holdings' 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
QS	3.02	0.13	0.04	2.70	3.46	(3.46)	7.04	(5.46)	23.40
MBLY	3.24	0.23	0.04	0.17	4.89	(2.97)	7.37	(10.51)	25.51
INVZ	7.86	1.15	0.13	(20.26)	8.06	(9.23)	19.18	(12.12)	58.83
AEVA	3.18	0.04	0.01	0.03	3.66	(3.68)	6.46	(5.74)	21.95
LAZR	6.19	(0.75)	0.00	5.38	0.00	0.00	16.08	(11.77)	39.94
WPRT	2.56	0.23	0.07	0.19	2.87	(2.88)	7.26	(4.67)	16.36
FRSX	6.94	1.30	0.18	0.56	6.26	(9.46)	35.87	(14.13)	63.09
AXL	2.05	(0.38)	0.00	(0.43)	0.00	0.00	3.33	(4.06)	17.69
GNTX	1.13	(0.31)	0.00	(0.39)	0.00	0.00	2.19	(2.11)	11.26
LIDR	8.68	0.45	0.04	(0.13)	10.30	(11.07)	14.78	(17.16)	92.02

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