Polar Power Correlations

POLA Stock

USD 1.48 0.05 3.50%

The current 90-days correlation between Polar Power and Clean Energy Technologies is -0.01 (i.e., Good diversification). The correlation of Polar 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.

Polar Power Correlation With Market

Excellent diversification

The correlation between Polar Power and DJI is -0.68 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polar Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Polar Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Polar 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 board of governors.

For information on how to trade Polar Stock refer to our How to Trade Polar Stock guide.

Moving together with Polar Stock

0.72	NNE	Nano Nuclear Energy	Pair Corr
0.63	ALVER	Vergnet Split	Pair Corr
0.66	CETY	Clean Energy Technologies	Pair Corr
0.69	GLABF	Gemina Laboratories	Pair Corr

Moving against Polar Stock

0.76	AZZ	AZZ Incorporated	Pair Corr
0.73	SIFG	Sif Holding NV	Pair Corr
0.62	BW	Babcock Wilcox Enter Trending	Pair Corr
0.62	PSIX	Power Solutions Inte	Pair Corr
0.56	BE	Bloom Energy Corp	Pair Corr
0.52	MRO	Melrose Industries PLC	Pair Corr
0.86	REMI	Remedent	Pair Corr
0.79	FLRAF	Essentra plc	Pair Corr
0.75	CCL	Carnival	Pair Corr
0.73	BSRR	Sierra Bancorp	Pair Corr
0.71	EDU	New Oriental Education	Pair Corr
0.7	ACR-PC	ACRES Commercial Realty	Pair Corr
0.7	SCCF	Sachem Capital Corp	Pair Corr
0.69	CPF	Central Pacific Financial	Pair Corr
0.68	IMPUF	Impala Platinum Holdings Earnings Call Today	Pair Corr
0.62	ENGGY	Enagas SA	Pair Corr
0.55	TR	Tootsie Roll Industries	Pair Corr
0.54	NSFDF	NXT Energy Solutions	Pair Corr
0.51	TRIN	Trinity Capital	Pair Corr
0.46	ELEZF	Endesa SA	Pair Corr
0.35	TSCDF	Tesco PLC	Pair Corr
0.34	WBD	Warner Bros Discovery	Pair Corr
0.84	TTC	Toro Earnings Call Today	Pair Corr
0.81	RPTX	Repare Therapeutics	Pair Corr
0.79	DXPE	DXP Enterprises Earnings Call Today	Pair Corr
0.77	CVLG	Covenant Logistics	Pair Corr

Related Correlations Analysis

	ZOOZ	CETY	MWG	CVR	EHGO	SOAR	MNTS	CLWT	KITT	YGMZ
ZOOZ		0.59	0.35	-0.51	0.79	0.6	0.75	-0.44	0.41	0.6	ZOOZ
CETY	0.59		0.18	-0.71	0.74	0.63	0.5	-0.62	0.0	0.83	CETY
MWG	0.35	0.18		-0.04	0.25	0.48	0.28	-0.2	-0.01	0.15	MWG
CVR	-0.51	-0.71	-0.04		-0.73	-0.63	-0.49	0.67	-0.16	-0.87	CVR
EHGO	0.79	0.74	0.25	-0.73		0.86	0.85	-0.6	0.31	0.82	EHGO
SOAR	0.6	0.63	0.48	-0.63	0.86		0.77	-0.58	0.25	0.76	SOAR
MNTS	0.75	0.5	0.28	-0.49	0.85	0.77		-0.54	0.42	0.69	MNTS
CLWT	-0.44	-0.62	-0.2	0.67	-0.6	-0.58	-0.54		-0.04	-0.75	CLWT
KITT	0.41	0.0	-0.01	-0.16	0.31	0.25	0.42	-0.04		0.14	KITT
YGMZ	0.6	0.83	0.15	-0.87	0.82	0.76	0.69	-0.75	0.14		YGMZ
	ZOOZ	CETY	MWG	CVR	EHGO	SOAR	MNTS	CLWT	KITT	YGMZ

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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

SOAR	+ 0.86	EHGO
MNTS	+ 0.85	EHGO
YGMZ	+ 0.83	CETY
YGMZ	+ 0.82	EHGO
EHGO	+ 0.79	ZOOZ
MNTS	+ 0.77	SOAR

High negative correlations

YGMZ	- 0.87	CVR
YGMZ	- 0.75	CLWT
EHGO	- 0.73	CVR
CVR	- 0.71	CETY
SOAR	- 0.63	CVR
CLWT	- 0.62	CETY

Risk-Adjusted Indicators

There is a big difference between Polar Stock performing well and Polar 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 Polar 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
ZOOZ	3.30	(0.60)	0.00	(0.29)	0.00	0.00	8.33	(9.09)	21.36
CETY	7.14	(0.65)	0.00	(0.39)	0.00	0.00	19.48	(14.81)	55.59
MWG	4.71	(0.16)	0.00	(0.01)	0.00	0.00	8.65	(10.29)	59.52
CVR	3.05	0.71	0.21	0.62	2.73	(3.66)	6.82	(4.51)	21.37
EHGO	2.80	(0.64)	0.00	(0.32)	0.00	0.00	5.26	(5.00)	27.27
SOAR	6.17	(1.62)	0.00	(0.59)	0.00	0.00	10.34	(11.48)	48.58
MNTS	9.36	(0.65)	0.00	(0.11)	0.00	0.00	17.86	(20.42)	74.16
CLWT	2.23	0.47	0.17	0.63	2.27	(2.67)	5.22	(4.13)	10.93
KITT	9.35	0.55	0.08	0.11	9.45	(11.83)	15.58	(14.95)	141.67
YGMZ	14.72	(5.58)	0.00	8.08	0.00	0.00	31.25	(36.84)	109.55

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