Polestar Automotive Correlations

PSNYW Stock

USD 0.15 0.01 7.14%

The current 90-days correlation between Polestar Automotive and Rivian Automotive is -0.07 (i.e., Good diversification). The correlation of Polestar Automotive 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Polestar Automotive Correlation With Market

Very good diversification

The correlation between Polestar Automotive Holding and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polestar Automotive Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Polestar Automotive Holding. 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.

Moving together with Polestar Stock

0.69

ASO

Academy Sports Outdoors Earnings Call This Week

Pair Corr

Moving against Polestar Stock

0.66	BH	Biglari Holdings	Pair Corr
0.65	ALV	Autoliv	Pair Corr
0.65	ABG	Asbury Automotive	Pair Corr
0.52	AXL	American Axle Manufa	Pair Corr
0.49	DORM	Dorman Products	Pair Corr
0.49	GNTX	Gentex	Pair Corr
0.47	WEYS	Weyco Group	Pair Corr
0.45	FLXS	Flexsteel Industries	Pair Corr
0.38	AGS	PlayAGS	Pair Corr
0.31	EVRI	Everi Holdings	Pair Corr
0.67	SAH	Sonic Automotive	Pair Corr
0.55	LAD	Lithia Motors	Pair Corr
0.52	EAT	Brinker International	Pair Corr
0.49	PAG	Penske Automotive	Pair Corr
0.46	DIN	Dine Brands Global	Pair Corr
0.44	ANF	Abercrombie Fitch Earnings Call Today	Pair Corr
0.43	WHR	Whirlpool	Pair Corr
0.42	DPZ	Dominos Pizza	Pair Corr
0.39	GPI	Group 1 Automotive	Pair Corr

Related Correlations Analysis

	FSR	LCID	ARVL	GOEV	RIVN	AMGDF	GELYY	MBGYY	POAHY	GELYF
FSR		-0.23	0.06	-0.37	-0.35	-0.04	0.23	-0.51	-0.3	0.24	FSR
LCID	-0.23		0.3	0.88	0.77	0.71	-0.86	0.84	0.79	-0.86	LCID
ARVL	0.06	0.3		0.11	-0.2	-0.09	0.08	0.36	0.44	0.08	ARVL
GOEV	-0.37	0.88	0.11		0.78	0.56	-0.82	0.87	0.75	-0.82	GOEV
RIVN	-0.35	0.77	-0.2	0.78		0.75	-0.89	0.64	0.44	-0.89	RIVN
AMGDF	-0.04	0.71	-0.09	0.56	0.75		-0.78	0.51	0.55	-0.78	AMGDF
GELYY	0.23	-0.86	0.08	-0.82	-0.89	-0.78		-0.67	-0.53	1.0	GELYY
MBGYY	-0.51	0.84	0.36	0.87	0.64	0.51	-0.67		0.85	-0.67	MBGYY
POAHY	-0.3	0.79	0.44	0.75	0.44	0.55	-0.53	0.85		-0.53	POAHY
GELYF	0.24	-0.86	0.08	-0.82	-0.89	-0.78	1.0	-0.67	-0.53		GELYF
	FSR	LCID	ARVL	GOEV	RIVN	AMGDF	GELYY	MBGYY	POAHY	GELYF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

GELYF	+ 1.0	GELYY
GOEV	+ 0.88	LCID
MBGYY	+ 0.87	GOEV
POAHY	+ 0.85	MBGYY
MBGYY	+ 0.84	LCID
POAHY	+ 0.79	LCID

High negative correlations

GELYF	- 0.89	RIVN
GELYY	- 0.89	RIVN
GELYF	- 0.86	LCID
GELYY	- 0.86	LCID
GELYF	- 0.82	GOEV
GELYY	- 0.82	GOEV

Risk-Adjusted Indicators

There is a big difference between Polestar Stock performing well and Polestar Automotive 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 Polestar Automotive'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
FSR	4.49	0.55	0.08	(4.49)	4.70	(5.02)	9.41	(7.36)	37.41
LCID	2.93	(1.03)	0.00	(1.02)	0.00	0.00	4.23	(5.96)	30.74
ARVL	6.16	(0.44)	0.00	0.84	0.00	0.00	11.70	(11.89)	49.91
GOEV	5.55	(1.64)	0.00	(1.25)	0.00	0.00	9.18	(16.22)	48.91
RIVN	2.98	(0.32)	0.00	(0.18)	0.00	0.00	5.29	(6.95)	28.00
AMGDF	4.72	(0.27)	0.00	(0.20)	0.00	0.00	10.90	(12.05)	34.24
GELYY	3.03	0.82	0.16	(6.63)	3.49	(3.24)	7.47	(5.05)	25.00
MBGYY	1.31	(0.31)	0.00	1.26	0.00	0.00	1.87	(3.53)	12.33
POAHY	1.31	(0.32)	0.00	1.68	0.00	0.00	2.22	(3.61)	10.40
GELYF	3.34	0.89	0.18	(2.94)	3.41	(4.41)	8.02	(5.06)	25.96

Polestar Automotive Corporate Management

Marius Hayler	Head Region	Profile
Lutz Stiegler	Chief Officer	Profile
Kristian Elvefors	Global Sales	Profile
Johan Malmqvist	Chief Officer	Profile
Roger Molin	Head Control	Profile
Jorg Brandscheid	CTO RD	Profile
Bojana Flint	Head Relations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC