NeoVolta Common Correlations

NEOV Stock

USD 5.80 0.31 5.65%

The current 90-days correlation between NeoVolta Common Stock and FREYR Battery SA is 0.13 (i.e., Average diversification). The correlation of NeoVolta Common 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.

NeoVolta Common Correlation With Market

Average diversification

The correlation between NeoVolta Common Stock and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NeoVolta Common Stock and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NeoVolta Common Stock. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with NeoVolta Stock

0.81	BE	Bloom Energy Corp	Pair Corr
0.9	FREY	FREYR Battery SA	Pair Corr
0.69	VRT	Vertiv Holdings	Pair Corr
0.69	MVST	Microvast Holdings	Pair Corr
0.77	MVSTW	Microvast Holdings	Pair Corr
0.75	PLPC	Preformed Line Products	Pair Corr

Moving against NeoVolta Stock

0.89	FLUX	Flux Power Holdings	Pair Corr
0.75	EPOW	Sunrise New Energy	Pair Corr
0.68	FCEL	FuelCell Energy Trending	Pair Corr
0.5	ENS	Enersys	Pair Corr
0.42	XPON	Expion360	Pair Corr
0.38	ENVX	Enovix Corp	Pair Corr
0.37	EOSE	Eos Energy Enterprises	Pair Corr
0.91	LSCG	Lighting Science	Pair Corr
0.75	WBX	Wallbox NV	Pair Corr
0.66	IPWR	Ideal Power	Pair Corr
0.59	EOSEW	Eos Energy Enterprises	Pair Corr
0.59	HOKUQ	Hoku	Pair Corr
0.43	SVT	Servotronics	Pair Corr
0.38	OPTT	Ocean Power Technologies	Pair Corr
0.56	CBAT	CBAK Energy Technology	Pair Corr
0.45	CAPTW	Captivision Warrant	Pair Corr

Related Correlations Analysis

	FREY	MVST	DFLI	SLDP	PLUG	FCEL	ENVX
FREY		0.68	-0.58	-0.63	-0.26	-0.68	-0.3	FREY
MVST	0.68		-0.52	-0.44	-0.25	-0.42	-0.31	MVST
DFLI	-0.58	-0.52		0.51	0.23	0.4	0.39	DFLI
SLDP	-0.63	-0.44	0.51		0.11	0.78	0.14	SLDP
PLUG	-0.26	-0.25	0.23	0.11		-0.01	0.44	PLUG
FCEL	-0.68	-0.42	0.4	0.78	-0.01		-0.15	FCEL
ENVX	-0.3	-0.31	0.39	0.14	0.44	-0.15		ENVX
	FREY	MVST	DFLI	SLDP	PLUG	FCEL	ENVX

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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

FCEL	+ 0.78	SLDP
MVST	+ 0.68	FREY
SLDP	+ 0.51	DFLI
ENVX	+ 0.44	PLUG
FCEL	+ 0.4	DFLI
ENVX	+ 0.39	DFLI

High negative correlations

FCEL	- 0.68	FREY
SLDP	- 0.63	FREY
DFLI	- 0.58	FREY
DFLI	- 0.52	MVST
SLDP	- 0.44	MVST
FCEL	- 0.42	MVST

Risk-Adjusted Indicators

There is a big difference between NeoVolta Stock performing well and NeoVolta Common 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 NeoVolta Common'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
FREY	5.57	0.59	0.25	0.20	4.67	(6.99)	13.17	(8.70)	79.43
MVST	12.44	4.12	0.52	2.06	5.56	(25.72)	13.56	(10.71)	358.33
DFLI	3.65	(0.36)	0.00	(0.10)	0.00	0.00	7.21	(6.95)	37.66
SLDP	2.50	(0.52)	0.00	(0.20)	0.00	0.00	6.60	(6.19)	19.18
PLUG	4.30	0.09	(0.02)	(0.02)	5.62	(4.75)	9.80	(6.91)	41.92
FCEL	5.00	(0.35)	0.00	0.90	0.00	0.00	11.61	(12.13)	35.77
ENVX	4.33	(0.34)	(0.02)	0.01	5.45	(4.37)	9.59	(8.14)	34.07

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