Plug Power Correlations

PLUG Stock

USD 1.79 0.12 6.28%

The current 90-days correlation between Plug Power and Shimmick Common is 0.09 (i.e., Significant diversification). The correlation of Plug Power 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.

Plug Power Correlation With Market

Significant diversification

The correlation between Plug Power and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plug Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Plug Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Plug Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

For more detail on how to invest in Plug Stock please use our How to Invest in Plug Power guide.

Moving together with Plug Stock

0.66	EFOI	Energy Focu	Pair Corr
0.66	ENVX	Enovix Corp	Pair Corr
0.8	EOSE	Eos Energy Enterprises	Pair Corr
0.76	EAF	GrafTech International	Pair Corr

Moving against Plug Stock

0.55	WATT	Energous	Pair Corr
0.55	ALDBT	DBT SA	Pair Corr
0.54	4LG	LANDISGYR GROUP AG	Pair Corr
0.32	AME	Ametek Inc	Pair Corr
0.57	RRX	Regal Beloit	Pair Corr
0.57	HPS-A	Hammond Power Solutions	Pair Corr
0.56	VRT	Vertiv Holdings	Pair Corr
0.54	ETN	Eaton PLC	Pair Corr
0.49	SKS	SKS Technologies	Pair Corr
0.49	GNRC	Generac Holdings	Pair Corr
0.4	MIE1	Mitsubishi Electric	Pair Corr
0.39	THR	Thermon Group Holdings	Pair Corr
0.36	RBC	RBC Bearings	Pair Corr
0.31	NXT	Nextracker Class A	Pair Corr

Related Correlations Analysis

	OPTT	RFIL	DFLI	SUGP	XCH	DHX	FTEK	SHIM	RYM
OPTT		0.46	-0.08	-0.03	-0.3	0.14	-0.29	0.39	-0.52	OPTT
RFIL	0.46		-0.62	-0.41	-0.41	0.57	-0.79	0.8	-0.61	RFIL
DFLI	-0.08	-0.62		0.36	0.3	-0.38	0.88	-0.78	0.12	DFLI
SUGP	-0.03	-0.41	0.36		0.11	-0.51	0.43	-0.19	0.16	SUGP
XCH	-0.3	-0.41	0.3	0.11		-0.23	0.47	-0.47	0.46	XCH
DHX	0.14	0.57	-0.38	-0.51	-0.23		-0.53	0.36	-0.51	DHX
FTEK	-0.29	-0.79	0.88	0.43	0.47	-0.53		-0.81	0.36	FTEK
SHIM	0.39	0.8	-0.78	-0.19	-0.47	0.36	-0.81		-0.47	SHIM
RYM	-0.52	-0.61	0.12	0.16	0.46	-0.51	0.36	-0.47		RYM
	OPTT	RFIL	DFLI	SUGP	XCH	DHX	FTEK	SHIM	RYM

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

FTEK	+ 0.88	DFLI
SHIM	+ 0.8	RFIL
DHX	+ 0.57	RFIL
FTEK	+ 0.47	XCH
RFIL	+ 0.46	OPTT
RYM	+ 0.46	XCH

High negative correlations

SHIM	- 0.81	FTEK
FTEK	- 0.79	RFIL
SHIM	- 0.78	DFLI
DFLI	- 0.62	RFIL
RYM	- 0.61	RFIL
FTEK	- 0.53	DHX

Risk-Adjusted Indicators

There is a big difference between Plug Stock performing well and Plug Power 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 Plug Power'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
OPTT	5.65	0.07	0.03	0.11	6.30	(8.74)	22.81	(9.43)	38.97
RFIL	4.00	0.99	0.27	0.54	3.23	(4.96)	12.60	(6.26)	33.57
DFLI	6.61	(1.51)	0.00	(0.30)	0.00	0.00	12.06	(18.33)	52.01
SUGP	4.76	(0.01)	0.00	0.10	0.00	0.00	12.83	(8.52)	41.48
XCH	4.66	0.37	0.05	0.77	5.72	(5.39)	11.11	(9.24)	39.56
DHX	3.79	0.46	0.11	0.30	4.06	(4.31)	7.28	(6.17)	45.44
FTEK	3.10	(0.36)	0.00	(0.11)	0.00	0.00	6.77	(6.90)	17.51
SHIM	4.26	0.68	0.19	0.32	4.06	(5.30)	11.93	(7.40)	24.16
RYM	5.55	0.43	0.06	4.00	5.76	(6.55)	11.59	(8.83)	63.12

Plug Power Corporate Management

Keith Schmid	Executive Projects	Profile
Tammy Kimble	Vice Resources	Profile
Meryl Fritz	Manager Communications	Profile
Dean Fullerton	Chief Officer	Profile

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