Plug Power Correlations

PLUG Stock

USD 2.26 0.09 3.83%

The current 90-days correlation between Plug Power and Quest Resource Holding is 0.2 (i.e., Modest 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

Very weak diversification

The correlation between Plug Power and DJI is 0.5 (i.e., Very weak 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 producer price index.

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

0.71	002121	Shenzhen Clou Electronics	Pair Corr
0.8	002670	Guosheng Financial	Pair Corr
0.61	688063	Pylon Technologies	Pair Corr
0.84	STEM	Stem Inc	Pair Corr
0.7	GRAB	Grab Holdings	Pair Corr
0.7	NIO	Nio Class A	Pair Corr
0.85	RXRX	Recursion Pharmaceuticals	Pair Corr
0.85	AUR	Aurora Innovation	Pair Corr
0.67	JAKK	JAKKS Pacific	Pair Corr

Moving against Plug Stock

0.75	F	Ford Motor	Pair Corr
0.71	300032	Jinlong Machinery	Pair Corr
0.63	300648	Fujian Nebula Electronics	Pair Corr
0.6	600110	Nuode Investment	Pair Corr
0.58	300548	Broadex Technologies	Pair Corr
0.48	688191	Zhiyang Innovation	Pair Corr
0.47	ESP	Espey Mfg Electronics	Pair Corr
0.82	PNGZF	Paringa Resources	Pair Corr
0.79	FYBR	Frontier Communications	Pair Corr
0.79	WEICF	Weichai Power	Pair Corr
0.73	BOF	BranchOut Food Common	Pair Corr
0.67	ATI	Allegheny Technologies	Pair Corr
0.66	WSFS	WSFS Financial	Pair Corr
0.64	SANM	Sanmina	Pair Corr
0.63	RIVN	Rivian Automotive	Pair Corr
0.63	ACR-PC	ACRES Commercial Realty	Pair Corr
0.6	NMIH	NMI Holdings	Pair Corr

Related Correlations Analysis

	OESX	STI	QRHC	APWC	EPOW	EDRY	SKYH	KSCP	NTIP
OESX		-0.57	0.9	-0.49	-0.54	0.76	-0.62	-0.65	-0.77	OESX
STI	-0.57		-0.63	0.29	0.43	-0.45	0.54	0.66	0.57	STI
QRHC	0.9	-0.63		-0.42	-0.64	0.76	-0.61	-0.66	-0.79	QRHC
APWC	-0.49	0.29	-0.42		0.18	-0.39	0.49	0.4	0.46	APWC
EPOW	-0.54	0.43	-0.64	0.18		-0.39	0.27	0.55	0.68	EPOW
EDRY	0.76	-0.45	0.76	-0.39	-0.39		-0.65	-0.44	-0.64	EDRY
SKYH	-0.62	0.54	-0.61	0.49	0.27	-0.65		0.71	0.72	SKYH
KSCP	-0.65	0.66	-0.66	0.4	0.55	-0.44	0.71		0.78	KSCP
NTIP	-0.77	0.57	-0.79	0.46	0.68	-0.64	0.72	0.78		NTIP
	OESX	STI	QRHC	APWC	EPOW	EDRY	SKYH	KSCP	NTIP

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

QRHC	+ 0.9	OESX
NTIP	+ 0.78	KSCP
EDRY	+ 0.76	OESX
EDRY	+ 0.76	QRHC
NTIP	+ 0.72	SKYH
KSCP	+ 0.71	SKYH

High negative correlations

NTIP	- 0.79	QRHC
NTIP	- 0.77	OESX
KSCP	- 0.66	QRHC
SKYH	- 0.65	EDRY
KSCP	- 0.65	OESX
NTIP	- 0.64	EDRY

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
OESX	5.25	1.30	0.25	1.68	4.57	(6.57)	14.82	(7.43)	39.21
STI	14.12	3.11	0.37	0.77	8.51	(22.48)	18.45	(17.15)	317.39
QRHC	4.47	0.57	0.14	0.43	4.30	(5.55)	9.27	(7.05)	24.19
APWC	2.25	(0.18)	0.00	3.03	0.00	0.00	5.08	(4.23)	14.43
EPOW	3.19	(0.29)	0.00	0.84	0.00	0.00	7.20	(7.02)	22.24
EDRY	1.71	0.05	(0.03)	(0.59)	1.90	(2.00)	3.63	(3.02)	11.04
SKYH	1.80	(0.29)	0.00	(0.03)	0.00	0.00	4.47	(3.99)	12.01
KSCP	4.46	(0.82)	0.00	(0.10)	0.00	0.00	9.82	(8.59)	30.69
NTIP	1.91	(0.31)	0.00	(0.27)	0.00	0.00	4.05	(4.03)	12.64

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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