Solid Power Correlations

SLDP Stock

USD 3.54 0.31 8.05%

The current 90-days correlation between Solid Power and Evolv Technologies Holdings is 0.07 (i.e., Significant diversification). The correlation of Solid 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Solid Power Correlation With Market

Very good diversification

The correlation between Solid Power and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solid Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solid Stock

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 discontinued.

To learn how to invest in Solid Stock, please use our How to Invest in Solid Power guide.

Moving together with Solid Stock

0.67	AZ	A2Z Smart Technologies	Pair Corr
0.77	RR	Richtech Robotics Class	Pair Corr
0.63	7YA	M VEST WATER	Pair Corr

Moving against Solid Stock

0.65	PH	Parker Hannifin	Pair Corr
0.64	IR	Ingersoll Rand	Pair Corr
0.63	HY	Hyster Yale Materials Earnings Call Today	Pair Corr
0.62	OSG	OSG Corporation	Pair Corr
0.6	HI	Hillenbrand	Pair Corr
0.56	0ACC	Accelleron Industries	Pair Corr
0.34	FUCA	FANUC PUNSPADR 110	Pair Corr
0.76	STGN	Starrag Group Holding	Pair Corr
0.73	4RX0	ZURN ELKAY WATER	Pair Corr
0.73	HZ8	Insteel Industries	Pair Corr
0.6	EAAS	Eenergy Group PLC	Pair Corr
0.6	CE3	Chongqing Machinery	Pair Corr
0.59	GCP	General Electric	Pair Corr
0.55	IMI1	IMI plc Earnings Call This Week	Pair Corr
0.48	DZR	AVINGTRANS LS 05	Pair Corr
0.4	21T	Bodycote PLC	Pair Corr
0.31	KC4	KONE Oyj	Pair Corr
0.76	ILT	Illinois Tool Works	Pair Corr
0.63	BRM	BioRem Inc	Pair Corr
0.54	0MO	DMG Mori	Pair Corr
0.51	NDX1	Nordex SE	Pair Corr
0.5	PFV	Pfeiffer Vacuum Tech	Pair Corr
0.48	EPAC	Enerpac Tool Group	Pair Corr

Related Correlations Analysis

	EVLV	PLPC	EOSE	ALGT	EVEX	PRG	RDW	GSL	BLDP	RHLD
EVLV		-0.69	0.47	-0.65	0.85	-0.78	-0.06	-0.77	0.82	0.56	EVLV
PLPC	-0.69		-0.18	0.87	-0.65	0.78	0.55	0.7	-0.75	-0.15	PLPC
EOSE	0.47	-0.18		-0.45	0.65	-0.38	0.33	-0.46	0.66	0.49	EOSE
ALGT	-0.65	0.87	-0.45		-0.73	0.79	0.32	0.63	-0.85	-0.22	ALGT
EVEX	0.85	-0.65	0.65	-0.73		-0.72	-0.06	-0.7	0.89	0.59	EVEX
PRG	-0.78	0.78	-0.38	0.79	-0.72		0.35	0.79	-0.8	-0.27	PRG
RDW	-0.06	0.55	0.33	0.32	-0.06	0.35		0.29	-0.14	0.29	RDW
GSL	-0.77	0.7	-0.46	0.63	-0.7	0.79	0.29		-0.71	-0.44	GSL
BLDP	0.82	-0.75	0.66	-0.85	0.89	-0.8	-0.14	-0.71		0.46	BLDP
RHLD	0.56	-0.15	0.49	-0.22	0.59	-0.27	0.29	-0.44	0.46		RHLD
	EVLV	PLPC	EOSE	ALGT	EVEX	PRG	RDW	GSL	BLDP	RHLD

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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

BLDP	+ 0.89	EVEX
ALGT	+ 0.87	PLPC
EVEX	+ 0.85	EVLV
BLDP	+ 0.82	EVLV
PRG	+ 0.79	ALGT
GSL	+ 0.79	PRG

High negative correlations

BLDP	- 0.85	ALGT
BLDP	- 0.8	PRG
PRG	- 0.78	EVLV
GSL	- 0.77	EVLV
BLDP	- 0.75	PLPC
EVEX	- 0.73	ALGT

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EVLV	2.44	(0.26)	0.00	(0.18)	0.00	0.00	4.59	(5.23)	16.47
PLPC	2.20	0.33	0.13	0.25	2.60	(2.24)	4.24	(3.51)	14.23
EOSE	5.72	(1.11)	0.00	(0.23)	0.00	0.00	11.13	(9.73)	54.50
ALGT	2.44	0.40	0.20	0.23	2.18	(2.99)	5.92	(4.35)	20.54
EVEX	2.81	(0.32)	0.00	(0.11)	0.00	0.00	5.46	(5.65)	25.14
PRG	1.80	0.22	0.10	0.29	1.83	(1.91)	4.05	(2.96)	17.63
RDW	6.48	0.96	0.16	0.39	6.42	(7.25)	14.09	(10.92)	41.99
GSL	1.25	0.34	0.17	(15.75)	1.22	(1.37)	2.62	(2.22)	6.78
BLDP	2.12	(0.28)	0.00	0.54	0.00	0.00	3.96	(5.63)	14.07
RHLD	3.21	0.03	0.00	0.11	4.34	(3.31)	6.37	(7.36)	20.55

Solid Power Corporate Management

David Jansen	Pres Chairman	Profile
Berislav Blizanac	Executive Technologies	Profile
Jennifer Almquist	Investor Relations	Profile
Derek Johnson	Chief Officer	Profile
Ramelle Gilliland	Executive Management	Profile
Lauren McCabe	Executive Operations	Profile

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