Plug Power Correlations

PLUG Stock

USD 2.10 0.05 2.44%

The current 90-days correlation between Plug Power and Powell Industries is 0.3 (i.e., Weak 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

Weak diversification

The correlation between Plug Power and DJI is 0.39 (i.e., 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 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

0.64	002869	Shenzhen Genvict Tec	Pair Corr
0.63	688032	Hoymiles Power Elect	Pair Corr
0.74	601311	Camel Group	Pair Corr
0.62	002724	Oceans King Lighting	Pair Corr
0.76	EGY	Energy Technologies	Pair Corr
0.65	EFOI	Energy Focu	Pair Corr
0.86	ELPW	Elong Power Holding	Pair Corr
0.67	WATT	Energous	Pair Corr
0.87	ENVX	Enovix Corp	Pair Corr
0.62	300763	Ningbo Ginlong Techn	Pair Corr
0.64	688226	Wetown Electric Group	Pair Corr

Moving against Plug Stock

0.51	300548	Broadex Technologies	Pair Corr
0.43	PN	Skycorp Solar Group	Pair Corr
0.69	603700	Ningbo Water Meter	Pair Corr
0.64	VICR	Vicor Tech Boost	Pair Corr
0.35	301152	Xinxiang Tianli Energy	Pair Corr
0.67	600525	Changyuan Group	Pair Corr
0.62	300407	Tianjin Keyvia Electric	Pair Corr
0.54	688148	Guangdong Fangyuan	Pair Corr
0.44	600885	Hongfa Technology	Pair Corr
0.36	CWR	Ceres Power Holdings	Pair Corr

Related Correlations Analysis

	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK
POWL		-0.31	-0.08	0.62	-0.45	-0.22	0.72	0.07	-0.04	-0.28	POWL
MMS	-0.31		0.13	-0.42	0.54	0.47	-0.44	-0.13	0.52	0.6	MMS
OMAB	-0.08	0.13		-0.16	-0.08	-0.51	0.26	0.85	0.58	0.35	OMAB
EOSE	0.62	-0.42	-0.16		-0.35	-0.14	0.74	0.0	-0.25	-0.3	EOSE
MSM	-0.45	0.54	-0.08	-0.35		0.52	-0.35	-0.24	0.18	0.23	MSM
CAR	-0.22	0.47	-0.51	-0.14	0.52		-0.35	-0.71	0.07	0.38	CAR
ECG	0.72	-0.44	0.26	0.74	-0.35	-0.35		0.41	0.07	-0.23	ECG
RAL	0.07	-0.13	0.85	0.0	-0.24	-0.71	0.41		0.51	0.18	RAL
BCO	-0.04	0.52	0.58	-0.25	0.18	0.07	0.07	0.51		0.74	BCO
ALK	-0.28	0.6	0.35	-0.3	0.23	0.38	-0.23	0.18	0.74		ALK
	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK

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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

RAL	+ 0.85	OMAB
ECG	+ 0.74	EOSE
ALK	+ 0.74	BCO
ECG	+ 0.72	POWL
EOSE	+ 0.62	POWL
ALK	+ 0.6	MMS

High negative correlations

RAL	- 0.71	CAR
CAR	- 0.51	OMAB
MSM	- 0.45	POWL
ECG	- 0.44	MMS
EOSE	- 0.42	MMS
ECG	- 0.35	CAR

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
POWL	2.83	0.10	0.04	0.11	4.44	(2.46)	5.59	(7.08)	18.07
MMS	1.10	(0.04)	0.00	(0.07)	0.00	0.00	2.55	(1.96)	7.44
OMAB	1.42	0.18	0.10	0.31	1.44	(1.60)	4.87	(1.81)	9.77
EOSE	5.90	0.24	0.07	0.11	5.85	(7.46)	11.94	(9.73)	38.85
MSM	1.21	(0.11)	0.00	(0.04)	0.00	0.00	2.84	(3.15)	8.99
CAR	1.82	(0.29)	0.00	(0.17)	0.00	0.00	3.62	(4.19)	10.91
ECG	2.81	0.01	0.03	0.06	3.83	(3.10)	5.40	(5.73)	20.64
RAL	1.44	0.16	0.10	0.18	1.51	(1.59)	2.83	(2.71)	8.74
BCO	1.18	(0.04)	(0.02)	0.03	1.51	(1.19)	2.33	(2.48)	10.50
ALK	2.15	(0.19)	0.00	(0.04)	0.00	0.00	4.46	(3.97)	10.52

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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