QuantumScape Correlations

QS Stock

USD 11.33 0.27 2.44%

The current 90-days correlation between QuantumScape Class and Mobileye Global Class is -0.19 (i.e., Good 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

Very weak diversification

The correlation between QuantumScape Class and DJI is 0.44 (i.e., Very weak 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 real.

Moving together with QuantumScape Stock

0.7	VC	Visteon Corp	Pair Corr
0.8	EVTV	Envirotech Vehicles	Pair Corr
0.74	WKSP	Worksport	Pair Corr
0.68	FOXF	Fox Factory Holding	Pair Corr
0.88	ECX	ECARX Holdings Class	Pair Corr
0.7	SES	SES AI Corp Buyout Trend	Pair Corr
0.63	300998	Ningbo Fangzheng Aut	Pair Corr
0.76	600698	Hunan Tyen Machinery	Pair Corr
0.73	002265	Yunnan Xiyi Industrial	Pair Corr
0.62	LIDR	Aeye Inc	Pair Corr
0.82	MBLY	Mobileye Global Class	Pair Corr
0.85	MPAA	Motorcar Parts	Pair Corr
0.75	MTEN	Mingteng International	Pair Corr
0.77	301072	Zhongjie Technology CoLtd	Pair Corr
0.65	605128	Shanghai Yanpu Metal	Pair Corr
0.84	300825	Iat Automobile Technology	Pair Corr

Moving against QuantumScape Stock

0.89	XPEL	Xpel Inc	Pair Corr
0.78	605255	Ningbo Tip Rubber	Pair Corr
0.53	000678	Xiangyang Automobile	Pair Corr
0.46	AXL	American Axle Manufa	Pair Corr
0.39	002625	Kuang Chi Technologies	Pair Corr
0.38	XTC	Exco Technologies	Pair Corr
0.75	601279	Changchun Engley Aut	Pair Corr
0.69	002813	Shenzhen RoadRover	Pair Corr
0.61	000901	Aerospace Hi Tech	Pair Corr
0.83	BRK-B	Berkshire Hathaway	Pair Corr
0.79	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.74	SYF	Synchrony Financial	Pair Corr
0.72	HYMTF	Hyundai Motor	Pair Corr

Related Correlations Analysis

	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS
MBLY		-0.04	-0.5	-0.04	-0.86	0.45	-0.75	0.86	0.3	-0.64	MBLY
ALV	-0.04		0.62	0.46	0.18	-0.15	0.14	-0.2	0.32	0.27	ALV
BWA	-0.5	0.62		0.66	0.53	-0.41	0.34	-0.48	-0.12	0.3	BWA
LKQ	-0.04	0.46	0.66		0.12	-0.11	-0.11	0.0	0.07	0.0	LKQ
HAS	-0.86	0.18	0.53	0.12		-0.17	0.8	-0.9	-0.1	0.81	HAS
MOD	0.45	-0.15	-0.41	-0.11	-0.17		-0.39	0.36	0.17	-0.03	MOD
CART	-0.75	0.14	0.34	-0.11	0.8	-0.39		-0.88	0.22	0.8	CART
ZK	0.86	-0.2	-0.48	0.0	-0.9	0.36	-0.88		0.04	-0.8	ZK
PAG	0.3	0.32	-0.12	0.07	-0.1	0.17	0.22	0.04		0.26	PAG
DDS	-0.64	0.27	0.3	0.0	0.81	-0.03	0.8	-0.8	0.26		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

ZK	+ 0.86	MBLY
DDS	+ 0.81	HAS
CART	+ 0.8	HAS
DDS	+ 0.8	CART
LKQ	+ 0.66	BWA
BWA	+ 0.62	ALV

High negative correlations

ZK	- 0.9	HAS
ZK	- 0.88	CART
HAS	- 0.86	MBLY
DDS	- 0.8	ZK
CART	- 0.75	MBLY
DDS	- 0.64	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	2.26	(0.34)	0.00	(1.05)	0.00	0.00	3.71	(4.79)	12.16
ALV	1.14	(0.09)	(0.04)	0.00	1.66	(1.09)	2.04	(3.01)	5.94
BWA	1.26	0.03	0.02	0.10	1.85	(1.22)	3.32	(3.05)	8.11
LKQ	1.49	(0.09)	(0.03)	0.01	1.83	(1.48)	2.78	(2.55)	9.19
HAS	1.05	0.12	0.10	0.17	1.14	(1.16)	2.88	(1.59)	6.56
MOD	2.91	(0.20)	(0.02)	0.00	4.53	(2.92)	5.82	(5.51)	23.70
CART	1.64	0.23	0.08	0.68	1.88	(1.63)	4.33	(3.02)	11.01
ZK	0.98	(0.13)	0.00	0.50	0.00	0.00	2.46	(2.67)	8.19
PAG	0.98	(0.20)	0.00	(0.15)	0.00	0.00	2.77	(1.88)	6.16
DDS	1.82	0.05	0.02	0.12	2.36	(2.08)	5.05	(3.91)	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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