Polar Power Correlations

POLA Stock

USD 1.50 0.15 11.11%

The current 90-days correlation between Polar Power and Clean Energy Technologies is 0.01 (i.e., Significant 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 metropolitan statistical area.

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

Moving together with Polar Stock

0.69	NNE	Nano Nuclear Energy Earnings Call This Week	Pair Corr
0.71	CETY	Clean Energy Technologies	Pair Corr
0.9	GLABF	Gemina Laboratories	Pair Corr
0.88	ZTLLF	Zonetail	Pair Corr
0.8	CALA	Calithera Biosciences	Pair Corr

Moving against Polar Stock

0.83	TSBK	Timberland Bancorp	Pair Corr
0.72	AZZ	AZZ Incorporated	Pair Corr
0.64	BWEN	Broadwind Energy	Pair Corr
0.51	BW	Babcock Wilcox Enter	Pair Corr
0.33	PPSI	Pioneer Power Solutions	Pair Corr
0.85	MAZE	Maze Therapeutics Common	Pair Corr
0.85	BKWAF	BKW AG	Pair Corr
0.69	CGCT	Cartesian Growth	Pair Corr
0.61	HE	Hawaiian Electric	Pair Corr
0.6	CNO	CNO Financial Group Earnings Call This Week	Pair Corr
0.59	DTST	Data Storage Corp	Pair Corr
0.52	KDK	Kodiak AI Common Symbol Change	Pair Corr
0.52	HLRTF	Hillcrest Energy Tec	Pair Corr
0.35	WILLF	Demant A/S	Pair Corr
0.33	NGPHF	Northern Graphite	Pair Corr
0.31	GME	GameStop Corp	Pair Corr
0.84	SMTGF	SMA Solar Technology	Pair Corr
0.81	KRFG	King Resources	Pair Corr
0.79	UCB	United Community Banks	Pair Corr
0.76	CMPNF	Champion Real Estate	Pair Corr
0.74	YUMC	Yum China Holdings Earnings Call This Week	Pair Corr
0.72	TOLWF	Trican Well Service	Pair Corr

Related Correlations Analysis

	ZOOZ	CETY	MWG	CVR	EHGO	SOAR	MNTS	CLWT	KITT	YGMZ
ZOOZ		0.73	0.1	-0.67	0.8	0.62	0.79	-0.43	0.62	0.71	ZOOZ
CETY	0.73		0.12	-0.75	0.75	0.75	0.64	-0.61	0.32	0.55	CETY
MWG	0.1	0.12		0.01	0.03	0.24	0.07	-0.14	-0.11	0.1	MWG
CVR	-0.67	-0.75	0.01		-0.86	-0.78	-0.65	0.74	-0.45	-0.72	CVR
EHGO	0.8	0.75	0.03	-0.86		0.84	0.85	-0.59	0.63	0.87	EHGO
SOAR	0.62	0.75	0.24	-0.78	0.84		0.8	-0.68	0.46	0.66	SOAR
MNTS	0.79	0.64	0.07	-0.65	0.85	0.8		-0.49	0.64	0.69	MNTS
CLWT	-0.43	-0.61	-0.14	0.74	-0.59	-0.68	-0.49		-0.05	-0.35	CLWT
KITT	0.62	0.32	-0.11	-0.45	0.63	0.46	0.64	-0.05		0.69	KITT
YGMZ	0.71	0.55	0.1	-0.72	0.87	0.66	0.69	-0.35	0.69		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

YGMZ	+ 0.87	EHGO
MNTS	+ 0.85	EHGO
SOAR	+ 0.84	EHGO
EHGO	+ 0.8	ZOOZ
MNTS	+ 0.8	SOAR
MNTS	+ 0.79	ZOOZ

High negative correlations

EHGO	- 0.86	CVR
SOAR	- 0.78	CVR
CVR	- 0.75	CETY
YGMZ	- 0.72	CVR
CLWT	- 0.68	SOAR
CVR	- 0.67	ZOOZ

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	3.99	(0.98)	0.00	(0.57)	0.00	0.00	8.33	(10.00)	24.33
CETY	7.60	(1.50)	0.00	(0.19)	0.00	0.00	9.78	(17.14)	140.58
MWG	4.04	(0.19)	0.00	(0.02)	0.00	0.00	8.57	(8.70)	60.59
CVR	3.08	0.55	0.17	0.59	2.79	(3.90)	6.82	(3.94)	21.37
EHGO	3.69	(0.86)	0.00	(0.60)	0.00	0.00	9.09	(8.33)	34.40
SOAR	6.43	(1.46)	0.00	(0.38)	0.00	0.00	10.34	(15.23)	48.58
MNTS	9.32	(1.20)	0.00	(0.16)	0.00	0.00	17.86	(17.01)	70.67
CLWT	2.07	0.00	(0.01)	0.09	2.67	(2.26)	3.88	(4.24)	14.34
KITT	9.41	(0.08)	0.04	0.07	9.46	(12.91)	15.58	(14.95)	141.67
YGMZ	14.64	(4.92)	0.00	(6.60)	0.00	0.00	33.33	(36.84)	130.11

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