Solid Power Correlations

SLDPW Stock

USD 0.43 0.07 14.00%

The current 90-days correlation between Solid Power and Tecogen is -0.21 (i.e., Very good 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

Excellent diversification

The correlation between Solid Power and DJI is -0.64 (i.e., Excellent 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 persons.

For more information on how to buy Solid Stock please use our How to Invest in Solid Power guide.

Moving together with Solid Stock

0.76	XPON	Expion360	Pair Corr
0.78	LIQT	LiqTech International	Pair Corr
0.64	PNT	Pentair plc	Pair Corr

Moving against Solid Stock

0.78	WWD	Woodward	Pair Corr
0.75	RFG	Roebuck Food Group	Pair Corr
0.73	OERL	OC Oerlikon Corp	Pair Corr
0.69	PH	Parker Hannifin	Pair Corr
0.67	PL	Planet Labs PBC	Pair Corr
0.67	PRV	Porvair plc Earnings Call This Week	Pair Corr
0.64	FSTR	LB Foster	Pair Corr
0.58	HZ8	Insteel Industries	Pair Corr
0.52	BRCK	Brickability Group Plc	Pair Corr
0.79	LECO	Lincoln Electric Holdings Earnings Call This Week	Pair Corr
0.71	OFLX	Omega Flex	Pair Corr
0.71	PKOH	Park Ohio Holdings	Pair Corr
0.7	MGAM	Morgan Advanced Materials	Pair Corr
0.69	LNE	Lincoln Electric Holdings Earnings Call This Week	Pair Corr
0.69	BALYO	Balyo SA	Pair Corr
0.68	JBTM	JBTMarel Corp	Pair Corr
0.63	PRLB	Proto Labs Earnings Call Today	Pair Corr
0.61	EGL	Environmental Group	Pair Corr
0.47	LPK	LPKF Laser Electronics	Pair Corr
0.46	PMN	PHOENIX N AG	Pair Corr
0.36	JCSE	JE Cleantech Holdings	Pair Corr

Related Correlations Analysis

	FCEL	ELVA	DFLI	MVST	CVEO	TGEN	SLND	SPCE	TG	PHOE
FCEL		0.58	-0.28	-0.17	0.37	-0.24	0.01	-0.11	-0.03	0.03	FCEL
ELVA	0.58		-0.77	-0.56	0.91	-0.74	-0.58	-0.7	0.4	0.16	ELVA
DFLI	-0.28	-0.77		0.84	-0.78	0.95	0.67	0.7	-0.44	-0.09	DFLI
MVST	-0.17	-0.56	0.84		-0.58	0.9	0.75	0.52	-0.53	-0.08	MVST
CVEO	0.37	0.91	-0.78	-0.58		-0.76	-0.64	-0.75	0.5	0.15	CVEO
TGEN	-0.24	-0.74	0.95	0.9	-0.76		0.77	0.71	-0.58	-0.12	TGEN
SLND	0.01	-0.58	0.67	0.75	-0.64	0.77		0.51	-0.69	-0.2	SLND
SPCE	-0.11	-0.7	0.7	0.52	-0.75	0.71	0.51		-0.42	-0.13	SPCE
TG	-0.03	0.4	-0.44	-0.53	0.5	-0.58	-0.69	-0.42		0.1	TG
PHOE	0.03	0.16	-0.09	-0.08	0.15	-0.12	-0.2	-0.13	0.1		PHOE
	FCEL	ELVA	DFLI	MVST	CVEO	TGEN	SLND	SPCE	TG	PHOE

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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

TGEN	+ 0.95	DFLI
CVEO	+ 0.91	ELVA
TGEN	+ 0.9	MVST
MVST	+ 0.84	DFLI
SLND	+ 0.77	TGEN
SLND	+ 0.75	MVST

High negative correlations

CVEO	- 0.78	DFLI
DFLI	- 0.77	ELVA
TGEN	- 0.76	CVEO
SPCE	- 0.75	CVEO
TGEN	- 0.74	ELVA
SPCE	- 0.7	ELVA

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
FCEL	4.97	(0.39)	0.00	(0.15)	0.00	0.00	11.76	(10.27)	35.51
ELVA	3.72	0.41	0.09	0.20	4.93	(4.00)	8.04	(7.86)	46.08
DFLI	6.84	(2.05)	0.00	(0.41)	0.00	0.00	13.98	(18.33)	58.61
MVST	3.25	(1.12)	0.00	(1.19)	0.00	0.00	6.02	(8.87)	18.37
CVEO	1.09	0.37	0.30	0.76	0.70	(1.29)	2.41	(1.57)	14.66
TGEN	3.96	(1.51)	0.00	(0.70)	0.00	0.00	7.23	(9.66)	29.87
SLND	4.35	(1.26)	0.00	(0.37)	0.00	0.00	8.20	(13.96)	33.71
SPCE	3.68	(0.74)	0.00	(0.38)	0.00	0.00	6.00	(8.56)	27.80
TG	2.31	0.36	0.16	0.21	2.13	(2.72)	4.21	(4.08)	24.13
PHOE	29.94	13.69	0.66	(1.03)	11.29	(51.74)	9.28	(10.12)	1,084

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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