QuantumScape Correlations

QS Stock

USD 7.04 0.19 2.77%

The current 90-days correlation between QuantumScape Class and Mobileye Global Class is 0.4 (i.e., Very weak diversification). The correlation of QuantumScape 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.

QuantumScape Correlation With Market

Excellent diversification

The correlation between QuantumScape Class 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 QuantumScape Class and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with QuantumScape Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in QuantumScape Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with QuantumScape Stock

0.69	PWO	Progress Werk Oberkirch	Pair Corr
0.7	KC7	AMA Group Limited	Pair Corr
0.73	WKHS	Workhorse Group	Pair Corr
0.86	WKSP	Worksport	Pair Corr
0.74	JOHB	Johnson Electric Holdings	Pair Corr

Moving against QuantumScape Stock

0.89	SRU	Standard Motor Products Earnings Call This Week	Pair Corr
0.89	KBX	Knorr Bremse AG	Pair Corr
0.82	XDH	Xingda International	Pair Corr
0.79	P4N	Polytec Holding AG	Pair Corr
0.78	VSA2	Valeo SA Earnings Call This Week	Pair Corr
0.78	7GA	Gestamp Automoción Earnings Call This Week	Pair Corr
0.72	C31	Cooper Standard Holdings	Pair Corr
0.71	7FZ	INTER CARS SA	Pair Corr
0.62	60V	KYB PORATION	Pair Corr
0.57	GTX	Gentex	Pair Corr
0.93	ML	Compagnie Generale des	Pair Corr
0.9	AXL	American Axle Manufa Symbol Change	Pair Corr
0.89	TY7	Toyota Boshoku	Pair Corr
0.86	1A7	Allison Transmission	Pair Corr
0.85	TYT	Toyota Motor Corp	Pair Corr
0.83	FR	Valeo SA Earnings Call This Week	Pair Corr
0.76	SSA	Spectra	Pair Corr
0.56	ALV	Autoliv	Pair Corr
0.42	EVTV	Envirotech Vehicles	Pair Corr
0.32	STAA	Stanley Electric	Pair Corr
0.91	K3E	Kendrion NV Earnings Call This Week	Pair Corr
0.9	DAN	Dana Inc Earnings Call Today	Pair Corr
0.87	BWA	BorgWarner	Pair Corr
0.85	LEA	Lear	Pair Corr
0.84	GTX	Garrett Motion	Pair Corr
0.84	108	Sumitomo Rubber Indu	Pair Corr

Related Correlations Analysis

	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS
MBLY		-0.4	-0.65	-0.64	-0.73	-0.71	0.68	0.64	-0.16	0.07	MBLY
ALV	-0.4		0.52	0.87	0.64	0.2	-0.47	-0.75	0.3	0.38	ALV
BWA	-0.65	0.52		0.68	0.88	0.72	-0.69	-0.67	0.43	0.18	BWA
LKQ	-0.64	0.87	0.68		0.82	0.5	-0.76	-0.87	0.27	0.25	LKQ
HAS	-0.73	0.64	0.88	0.82		0.83	-0.8	-0.77	0.38	0.25	HAS
MOD	-0.71	0.2	0.72	0.5	0.83		-0.77	-0.5	0.3	0.11	MOD
CART	0.68	-0.47	-0.69	-0.76	-0.8	-0.77		0.75	-0.05	0.09	CART
ZK	0.64	-0.75	-0.67	-0.87	-0.77	-0.5	0.75		-0.03	-0.08	ZK
PAG	-0.16	0.3	0.43	0.27	0.38	0.3	-0.05	-0.03		0.65	PAG
DDS	0.07	0.38	0.18	0.25	0.25	0.11	0.09	-0.08	0.65		DDS
	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS

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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

HAS	+ 0.88	BWA
LKQ	+ 0.87	ALV
MOD	+ 0.83	HAS
HAS	+ 0.82	LKQ
ZK	+ 0.75	CART
MOD	+ 0.72	BWA

High negative correlations

ZK	- 0.87	LKQ
CART	- 0.8	HAS
CART	- 0.77	MOD
ZK	- 0.77	HAS
CART	- 0.76	LKQ
ZK	- 0.75	ALV

Risk-Adjusted Indicators

There is a big difference between QuantumScape Stock performing well and QuantumScape 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 QuantumScape'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
MBLY	2.58	(0.54)	0.00	(0.22)	0.00	0.00	3.71	(5.94)	15.74
ALV	1.14	0.00	0.01	0.07	1.38	(1.22)	3.13	(2.47)	8.44
BWA	1.75	0.50	0.20	(0.77)	1.65	(2.14)	3.71	(3.11)	28.09
LKQ	1.50	0.10	0.08	0.14	1.49	(1.70)	3.36	(2.38)	11.87
HAS	1.36	0.33	0.23	0.34	1.12	(1.61)	3.19	(2.71)	11.61
MOD	2.82	0.79	0.19	0.46	3.59	(3.05)	6.18	(7.36)	23.70
CART	1.91	(0.18)	0.00	(0.27)	0.00	0.00	3.88	(4.88)	11.24
ZK	0.98	(0.16)	0.00	(1.20)	0.00	0.00	2.46	(2.67)	8.19
PAG	1.19	0.02	0.01	0.08	1.35	(1.31)	3.07	(2.47)	8.71
DDS	1.97	0.14	0.06	0.18	2.53	(2.19)	4.88	(3.56)	16.18

QuantumScape Corporate Management

Susan Huppertz	Director	Profile
Jeneanne Hanley	Director	Profile
J Straubel	Independent Director	Profile
Gena Lovett	Director	Profile

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