Worksport Correlations

WKSP Stock

USD 1.94 0.14 6.73%

The current 90-days correlation between Worksport and Kaixin Auto Holdings is 0.07 (i.e., Significant diversification). The correlation of Worksport 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.

Worksport Correlation With Market

Very good diversification

The correlation between Worksport and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worksport and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Worksport Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Worksport Stock

0.69

NDEKY

Nitto Denko Corp

Pair Corr

Moving against Worksport Stock

0.68	002813	Shenzhen RoadRover	Pair Corr
0.66	LCII	LCI Industries	Pair Corr
0.61	MGA	Magna International Sell-off Trend	Pair Corr
0.59	605255	Ningbo Tip Rubber	Pair Corr
0.55	601279	Changchun Engley Aut	Pair Corr
0.38	688737	Sinocat Environmental	Pair Corr
0.78	NFPDF	Nissin Foods Holdings Earnings Call This Week	Pair Corr
0.58	SBSW	Sibanye Gold	Pair Corr
0.56	FMCB	Farmers Merchants Bancorp	Pair Corr
0.53	FUWAF	Furukawa Electric	Pair Corr
0.47	MARUF	Marubeni	Pair Corr
0.4	EGP	EastGroup Properties	Pair Corr
0.38	YAMHF	Yamaha Motor	Pair Corr
0.37	CNOB	ConnectOne Bancorp Earnings Call This Week	Pair Corr
0.31	RTO	Rentokil Initial PLC	Pair Corr

Related Correlations Analysis

	KXIN	JZXN	RENT	LVLU	PMNT	PC	LGCB	EFOI	PSPX	BYAH
KXIN		0.66	-0.56	-0.13	-0.07	0.0	-0.44	0.62	0.0	0.64	KXIN
JZXN	0.66		-0.92	-0.45	0.42	0.0	0.08	0.58	0.0	0.96	JZXN
RENT	-0.56	-0.92		0.4	-0.39	0.0	-0.22	-0.39	0.0	-0.84	RENT
LVLU	-0.13	-0.45	0.4		-0.62	0.0	-0.54	0.05	0.0	-0.47	LVLU
PMNT	-0.07	0.42	-0.39	-0.62		0.0	0.57	-0.02	0.0	0.44	PMNT
PC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PC
LGCB	-0.44	0.08	-0.22	-0.54	0.57	0.0		-0.5	0.0	0.03	LGCB
EFOI	0.62	0.58	-0.39	0.05	-0.02	0.0	-0.5		0.0	0.67	EFOI
PSPX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PSPX
BYAH	0.64	0.96	-0.84	-0.47	0.44	0.0	0.03	0.67	0.0		BYAH
	KXIN	JZXN	RENT	LVLU	PMNT	PC	LGCB	EFOI	PSPX	BYAH

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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

BYAH	+ 0.96	JZXN
BYAH	+ 0.67	EFOI
JZXN	+ 0.66	KXIN
BYAH	+ 0.64	KXIN
EFOI	+ 0.62	KXIN
EFOI	+ 0.58	JZXN

High negative correlations

RENT	- 0.92	JZXN
BYAH	- 0.84	RENT
PMNT	- 0.62	LVLU
RENT	- 0.56	KXIN
LGCB	- 0.54	LVLU
EFOI	- 0.5	LGCB

Risk-Adjusted Indicators

There is a big difference between Worksport Stock performing well and Worksport 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 Worksport'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
KXIN	11.62	0.13	0.01	0.13	17.24	(11.93)	26.58	(30.11)	89.96
JZXN	5.52	(2.68)	0.00	(1.50)	0.00	0.00	10.38	(19.15)	70.16
RENT	4.49	0.79	0.15	1.00	4.45	(5.02)	12.98	(8.16)	26.69
LVLU	6.75	3.16	0.56	(2.47)	4.14	(8.79)	17.79	(9.81)	90.79
PMNT	3.61	(0.23)	0.00	(0.92)	0.00	0.00	8.70	(6.98)	27.94
PC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LGCB	3.57	(0.31)	0.00	(0.12)	0.00	0.00	9.84	(6.84)	25.01
EFOI	3.43	(0.25)	0.00	(0.10)	0.00	0.00	6.09	(6.22)	30.39
PSPX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BYAH	3.79	(1.54)	0.00	(0.58)	0.00	0.00	6.67	(7.69)	24.00

Worksport Corporate Management

Nilay Choksi	General Counsel	Profile
Steven Rossi	President, Chairman	Profile
Chris Bernaudo	Chief Officer	Profile
Steven Raivio	Executive Sales	Profile

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