Plug Power Correlations
| PLUN Stock | EUR 1.94 0.06 3.00% |
The current 90-days correlation between Plug Power and Sixt SE is 0.01 (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 0.01 (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.
Plug |
The ability to find closely correlated positions to Plug Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Plug Power when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Plug Power - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Plug Power to buy it.
Moving against Plug Stock
| 0.89 | PTI | Perusahaan Perseroan | PairCorr |
| 0.63 | KBIA | KB Financial Group | PairCorr |
| 0.56 | MUR1 | Murata Manufacturing | PairCorr |
| 0.54 | XPH | Amphenol | PairCorr |
| 0.5 | XSDG | Samsung SDI Earnings Call This Week | PairCorr |
| 0.47 | MIE1 | Mitsubishi Electric | PairCorr |
| 0.46 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.32 | TCID | Telkom Indonesia Tbk | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Plug Power without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Plug Power Corporate Management
Elected by the shareholders, the Plug Power's board of directors comprises two types of representatives: Plug Power inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Plug. The board's role is to monitor Plug Power's management team and ensure that shareholders' interests are well served. Plug Power's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Plug Power's outside directors are responsible for providing unbiased perspectives on the board's policies.
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| Martin Hull | Chief Accounting Officer, Corporate Controller | Profile | |
| Sanjay Shrestha | GM VP | Profile | |
| Tim Cortes | Chief Officer | Profile |