Solid Power Correlations

Solid Power Correlation With Market

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solid Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment. To learn how to invest in Solid Stock, please use our How to Invest in Solid Power guide.

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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    EOSE + 0.82 MVST EOSE + 0.75 PLUG MVST + 0.75 FREY BE + 0.71 MVST BE + 0.69 FREY MVST + 0.67 PLUG

High negative correlations    BE - 0.88 DFLI DFLI - 0.81 MVST DFLI - 0.67 FREY DFLI - 0.52 EOSE DFLI - 0.47 PLUG DFLI - 0.27 FCEL

Risk-Adjusted Indicators

There is a big difference between Solid Stock performing well and Solid 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 Solid 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.