Erayak Power Correlations

RAYA Stock

1.26 0.04 3.08%

The current 90-days correlation between Erayak Power Solution and Espey Mfg Electronics is 0.13 (i.e., Average diversification). The correlation of Erayak Power 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.

Erayak Power Correlation With Market

Good diversification

The correlation between Erayak Power Solution and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erayak Power Solution 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 Erayak Power Solution. 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 against Erayak Stock

0.49	ENR	Energizer Holdings	Pair Corr
0.44	FREY	FREYR Battery SA	Pair Corr
0.42	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.32	NVT	nVent Electric PLC	Pair Corr
0.64	NEOVW	NeoVolta Warrant	Pair Corr
0.45	NEOV	NeoVolta Common Stock	Pair Corr

Related Correlations Analysis

	NEOV	HAYW	AEIS	ESP	FLUX	POLA	OPTT	PPSI	EOSE
NEOV		0.39	0.05	-0.01	-0.04	0.15	-0.18	0.55	-0.46	NEOV
HAYW	0.39		-0.19	0.5	0.46	-0.11	-0.78	0.82	-0.81	HAYW
AEIS	0.05	-0.19		-0.34	-0.34	0.17	0.52	-0.19	0.41	AEIS
ESP	-0.01	0.5	-0.34		0.7	0.32	-0.45	0.51	-0.45	ESP
FLUX	-0.04	0.46	-0.34	0.7		0.42	-0.49	0.62	-0.57	FLUX
POLA	0.15	-0.11	0.17	0.32	0.42		0.21	0.17	-0.04	POLA
OPTT	-0.18	-0.78	0.52	-0.45	-0.49	0.21		-0.65	0.81	OPTT
PPSI	0.55	0.82	-0.19	0.51	0.62	0.17	-0.65		-0.89	PPSI
EOSE	-0.46	-0.81	0.41	-0.45	-0.57	-0.04	0.81	-0.89		EOSE
	NEOV	HAYW	AEIS	ESP	FLUX	POLA	OPTT	PPSI	EOSE

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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

PPSI	+ 0.82	HAYW
EOSE	+ 0.81	OPTT
FLUX	+ 0.7	ESP
PPSI	+ 0.62	FLUX
PPSI	+ 0.55	NEOV
OPTT	+ 0.52	AEIS

High negative correlations

EOSE	- 0.89	PPSI
EOSE	- 0.81	HAYW
OPTT	- 0.78	HAYW
PPSI	- 0.65	OPTT
EOSE	- 0.57	FLUX
OPTT	- 0.49	FLUX

Risk-Adjusted Indicators

There is a big difference between Erayak Stock performing well and Erayak Power 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 Erayak Power'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
NEOV	4.77	0.25	0.03	0.77	6.64	(4.44)	8.33	(9.11)	33.98
HAYW	1.00	(0.20)	0.00	(0.33)	0.00	0.00	2.12	(1.78)	8.16
AEIS	1.64	0.05	0.00	0.25	2.37	(1.63)	3.29	(3.27)	15.56
ESP	1.66	(0.14)	0.00	(0.30)	0.00	0.00	3.76	(2.82)	10.44
FLUX	4.54	(0.51)	0.00	1.07	0.00	0.00	9.43	(11.43)	32.32
POLA	4.07	0.11	0.00	4.62	4.94	(4.92)	9.09	(8.89)	27.36
OPTT	12.64	4.59	0.28	(1.19)	10.79	(19.44)	40.00	(12.50)	117.25
PPSI	1.96	(0.39)	0.00	(0.52)	0.00	0.00	4.08	(4.61)	14.59
EOSE	5.06	0.93	0.18	0.75	4.98	(6.27)	13.38	(7.30)	28.72

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