QuantumScape Correlations

QS Stock

USD 8.86 0.18 2.07%

The current 90-days correlation between QuantumScape Class and Mobileye Global Class is 0.38 (i.e., 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 -0.57 (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

0.73	DORM	Dorman Products	Pair Corr
0.73	ECX	ECARX Holdings Class	Pair Corr
0.82	M4HA	METAIR INVTS LTD	Pair Corr
0.76	N37	National Tyre Wheel	Pair Corr
0.87	54M	Motorcar Parts Earnings Call This Week	Pair Corr
0.77	MPAA	Motorcar Parts Earnings Call Tomorrow	Pair Corr
0.91	MTEN	Mingteng International	Pair Corr
0.69	BROGF	BROGF	Pair Corr

Moving against QuantumScape Stock

0.9	108	Sumitomo Rubber Indu	Pair Corr
0.9	XPEL	Xpel Inc	Pair Corr
0.8	XTC	Exco Technologies	Pair Corr
0.65	LEA	Lear Earnings Call Today	Pair Corr
0.63	EZM	Compagnie Plastic Omnium	Pair Corr
0.6	FCAP	First Capital Normal Trading	Pair Corr
0.59	AXL	American Axle Manufa	Pair Corr
0.55	7FZ	INTER CARS SA	Pair Corr
0.46	SMP	Standard Motor Products	Pair Corr
0.37	ABV	Advanced Braking Tec	Pair Corr
0.85	OBYCF	Obayashi Earnings Call This Week	Pair Corr
0.8	BNKHF	BOC Hong Kong	Pair Corr
0.8	ENS	Enersys Earnings Call This Week	Pair Corr
0.75	FIBK	First Interstate Ban	Pair Corr
0.66	PGEZF	Group Ten Metals	Pair Corr
0.62	RCKY	Rocky Brands	Pair Corr
0.62	NFG	National Fuel Gas	Pair Corr
0.59	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.59	YLLXF	Yellow Cake plc Upward Rally	Pair Corr
0.58	APETF	Alpha Esports Tech	Pair Corr
0.57	SECVY	Seche Environnement	Pair Corr
0.56	OMC	Omnicom Group Earnings Call This Week	Pair Corr
0.54	THO	Thor Industries	Pair Corr
0.54	GGLDF	Getchell Gold Corp	Pair Corr
0.52	JUPGF	Jupiter Gold Upward Rally	Pair Corr

Related Correlations Analysis

	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS
MBLY		-0.34	-0.47	-0.39	-0.71	-0.16	-0.2	0.69	-0.26	-0.29	MBLY
ALV	-0.34		0.91	0.85	0.7	-0.21	-0.11	-0.66	0.23	0.42	ALV
BWA	-0.47	0.91		0.88	0.77	-0.1	-0.18	-0.78	0.08	0.29	BWA
LKQ	-0.39	0.85	0.88		0.73	-0.06	-0.36	-0.72	0.08	0.26	LKQ
HAS	-0.71	0.7	0.77	0.73		0.13	0.04	-0.78	0.27	0.54	HAS
MOD	-0.16	-0.21	-0.1	-0.06	0.13		-0.4	0.2	-0.25	-0.12	MOD
CART	-0.2	-0.11	-0.18	-0.36	0.04	-0.4		-0.18	0.7	0.54	CART
ZK	0.69	-0.66	-0.78	-0.72	-0.78	0.2	-0.18		-0.35	-0.44	ZK
PAG	-0.26	0.23	0.08	0.08	0.27	-0.25	0.7	-0.35		0.81	PAG
DDS	-0.29	0.42	0.29	0.26	0.54	-0.12	0.54	-0.44	0.81		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

BWA	+ 0.91	ALV
LKQ	+ 0.88	BWA
LKQ	+ 0.85	ALV
DDS	+ 0.81	PAG
HAS	+ 0.77	BWA
HAS	+ 0.73	LKQ

High negative correlations

ZK	- 0.78	HAS
ZK	- 0.78	BWA
ZK	- 0.72	LKQ
HAS	- 0.71	MBLY
ZK	- 0.66	ALV
BWA	- 0.47	MBLY

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	2.41	(0.65)	0.00	(0.33)	0.00	0.00	3.57	(5.65)	15.74
ALV	1.13	0.04	0.03	0.08	1.51	(1.11)	2.85	(2.57)	8.44
BWA	1.25	0.15	0.09	0.15	1.62	(1.35)	3.51	(3.05)	8.11
LKQ	1.54	0.10	0.07	0.11	1.57	(1.71)	3.36	(2.42)	9.62
HAS	1.10	0.29	0.22	1.82	0.84	(1.31)	3.15	(1.67)	6.05
MOD	3.23	0.38	0.09	0.19	4.51	(3.43)	6.18	(7.46)	23.70
CART	1.84	(0.07)	0.00	(0.10)	0.00	0.00	3.91	(4.32)	11.01
ZK	0.98	(0.16)	0.00	(1.03)	0.00	0.00	2.46	(2.67)	8.19
PAG	0.91	(0.05)	(0.04)	(0.01)	1.17	(0.94)	2.62	(2.10)	6.07
DDS	2.07	0.14	0.05	0.24	2.71	(2.31)	5.05	(4.39)	17.26

QuantumScape Corporate Management

Susan Huppertz	Director	Profile
Jeneanne Hanley	Director	Profile
J Straubel	Independent Director	Profile
Pr Prinz	Chief CoFounder	Profile
Gena Lovett	Director	Profile

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