Plug Power Correlations

Plug Power Correlation With Market

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.

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 FTEK + 0.55 XCH DHX + 0.54 RFIL RFIL + 0.5 OPTT RYM + 0.5 XCH

High negative correlations SHIM - 0.79 FTEK SHIM - 0.78 DFLI FTEK - 0.78 RFIL DFLI - 0.62 RFIL RYM - 0.59 RFIL SHIM - 0.55 XCH

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.