Polestar Automotive Correlations

PSNYW Stock

USD 0.23 0.02 9.52%

The current 90-days correlation between Polestar Automotive and Rivian Automotive is 0.6 (i.e., Poor 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

Average diversification

The correlation between Polestar Automotive Holding and DJI is 0.15 (i.e., Average 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

0.67	FLYE	Fly E Group,	Pair Corr
0.73	HMC	Honda Motor	Pair Corr

Moving against Polestar Stock

0.65	DORM	Dorman Products	Pair Corr
0.51	GT	Goodyear Tire Rubber	Pair Corr
0.43	GM	General Motors Aggressive Push	Pair Corr
0.38	WKHS	Workhorse Group	Pair Corr
0.37	AXL	American Axle Manufa	Pair Corr
0.32	GTX	Garrett Motion	Pair Corr
0.62	MGA	Magna International	Pair Corr
0.43	XPEL	Xpel Inc	Pair Corr
0.35	SMP	Standard Motor Products	Pair Corr
0.35	VFS	VinFast Auto	Pair Corr

Related Correlations Analysis

	FSR	LCID	ARVL	GOEV	RIVN	AMGDF	GELYY	MBGYY	POAHY	GELYF
FSR		-0.28	0.06	-0.31	0.08	0.11	0.06	-0.42	-0.38	0.06	FSR
LCID	-0.28		-0.43	-0.24	0.54	-0.31	0.05	0.15	0.12	0.03	LCID
ARVL	0.06	-0.43		0.11	-0.34	-0.07	-0.32	-0.36	-0.35	-0.38	ARVL
GOEV	-0.31	-0.24	0.11		-0.82	0.27	-0.57	0.71	0.81	-0.54	GOEV
RIVN	0.08	0.54	-0.34	-0.82		-0.44	0.52	-0.43	-0.58	0.54	RIVN
AMGDF	0.11	-0.31	-0.07	0.27	-0.44		-0.03	0.19	0.32	-0.03	AMGDF
GELYY	0.06	0.05	-0.32	-0.57	0.52	-0.03		-0.29	-0.33	0.91	GELYY
MBGYY	-0.42	0.15	-0.36	0.71	-0.43	0.19	-0.29		0.87	-0.2	MBGYY
POAHY	-0.38	0.12	-0.35	0.81	-0.58	0.32	-0.33	0.87		-0.3	POAHY
GELYF	0.06	0.03	-0.38	-0.54	0.54	-0.03	0.91	-0.2	-0.3		GELYF
	FSR	LCID	ARVL	GOEV	RIVN	AMGDF	GELYY	MBGYY	POAHY	GELYF

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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

GELYF	+ 0.91	GELYY
POAHY	+ 0.87	MBGYY
POAHY	+ 0.81	GOEV
MBGYY	+ 0.71	GOEV
RIVN	+ 0.54	LCID
GELYF	+ 0.54	RIVN

High negative correlations

RIVN	- 0.82	GOEV
POAHY	- 0.58	RIVN
GELYY	- 0.57	GOEV
GELYF	- 0.54	GOEV
AMGDF	- 0.44	RIVN
MBGYY	- 0.43	RIVN

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	0.53	0.11	(0.36)	4.70	(5.02)	9.41	(7.36)	37.41
LCID	3.48	(0.04)	0.00	(0.27)	0.00	0.00	8.58	(7.45)	21.12
ARVL	6.16	(0.52)	0.00	0.31	0.00	0.00	11.70	(11.89)	49.91
GOEV	8.42	(3.02)	0.00	(1.73)	0.00	0.00	19.70	(25.40)	62.37
RIVN	3.67	0.62	0.14	0.57	3.88	(4.47)	11.15	(4.95)	29.40
AMGDF	3.81	(0.07)	0.00	(0.42)	0.00	0.00	7.63	(8.72)	30.73
GELYY	2.30	0.13	0.05	0.41	2.66	(2.44)	6.42	(3.92)	13.32
MBGYY	1.26	(0.16)	0.00	1.05	0.00	0.00	2.33	(2.54)	10.20
POAHY	1.18	(0.22)	0.00	(1.51)	0.00	0.00	2.22	(2.48)	9.30
GELYF	2.34	0.18	0.06	2.00	2.48	(2.85)	6.58	(4.23)	13.08

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

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