Xos Correlations

XOS Stock

USD 3.09 0.02 0.65%

The correlation of Xos 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.

Xos Correlation With Market

Average diversification

The correlation between Xos Inc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xos Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Xos Inc. 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.

Moving together with Xos Stock

0.61	MTW	Manitowoc	Pair Corr
0.79	TEX	Terex	Pair Corr
0.76	WNC	Wabash National	Pair Corr
0.79	GENC	Gencor Industries	Pair Corr
0.95	NKLA	Nikola Corp Earnings Call This Week	Pair Corr
0.72	ASTE	Astec Industries	Pair Corr
0.8	SHYF	Shyft Group Earnings Call This Week	Pair Corr
0.87	UGRO	Urban Gro	Pair Corr
0.63	J	Jacobs Solutions	Pair Corr
0.75	BV	BrightView Holdings	Pair Corr
0.85	BW	Babcock Wilcox Enter	Pair Corr

Moving against Xos Stock

0.64	REVG	Rev Group	Pair Corr
0.59	CEAD	CEA Industries Trending	Pair Corr
0.55	DE	Deere Company	Pair Corr
0.48	CNH	CNH Industrial NV Symbol Change	Pair Corr
0.38	TWI	Titan International	Pair Corr
0.37	AGCO	AGCO	Pair Corr
0.32	CEADW	CEA Industries Warrant	Pair Corr
0.88	BA	Boeing	Pair Corr
0.79	B	Barnes Group	Pair Corr
0.64	AP	Ampco Pittsburgh	Pair Corr
0.48	BE	Bloom Energy Corp	Pair Corr
0.42	AZ	A2Z Smart Technologies	Pair Corr
0.38	BR	Broadridge Financial	Pair Corr

Related Correlations Analysis

	LEV	IDEX	NKLA	WNC	ZEV	HYFM	AUSTF	GRSO	BIIAF	FIRRF
LEV		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	LEV
IDEX	0.0		0.48	0.49	0.0	0.5	-0.63	0.0	0.0	0.0	IDEX
NKLA	0.0	0.48		0.81	0.0	0.02	-0.75	0.0	0.0	0.0	NKLA
WNC	0.0	0.49	0.81		0.0	0.33	-0.74	0.0	0.0	0.0	WNC
ZEV	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ZEV
HYFM	0.0	0.5	0.02	0.33	0.0		-0.27	0.0	0.0	0.0	HYFM
AUSTF	0.0	-0.63	-0.75	-0.74	0.0	-0.27		0.0	0.0	0.0	AUSTF
GRSO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GRSO
BIIAF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		-1.0	BIIAF
FIRRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-1.0		FIRRF
	LEV	IDEX	NKLA	WNC	ZEV	HYFM	AUSTF	GRSO	BIIAF	FIRRF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

WNC	+ 0.81	NKLA
HYFM	+ 0.5	IDEX
WNC	+ 0.49	IDEX
NKLA	+ 0.48	IDEX
HYFM	+ 0.33	WNC
HYFM	+ 0.02	NKLA

High negative correlations

FIRRF	- 1.0	BIIAF
AUSTF	- 0.75	NKLA
AUSTF	- 0.74	WNC
AUSTF	- 0.63	IDEX
AUSTF	- 0.27	HYFM
FIRRF	- 0.0	GRSO

Risk-Adjusted Indicators

There is a big difference between Xos Stock performing well and Xos 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 Xos' 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
LEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IDEX	550.29	312.17	4.95	3.29	71.67	(706.66)	800.00	(92.00)	16,626
NKLA	7.02	(1.99)	0.00	(0.85)	0.00	0.00	10.74	(17.48)	65.36
WNC	1.75	(0.69)	0.00	(6.32)	0.00	0.00	2.54	(4.44)	10.01
ZEV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HYFM	3.83	0.28	0.07	0.09	3.60	(5.15)	11.98	(6.86)	26.05
AUSTF	1.73	0.57	0.00	(0.45)	0.00	0.00	0.00	0.00	53.33
GRSO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BIIAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIRRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Xos Corporate Management

Liana Pogosyan	Acting Finance	Profile
Steve Ivsan	Head Management	Profile
Kingsley Afemikhe	Chief Officer	Profile
Henry Kwon	Head Relations	Profile
Mathew Freiheit	Chief Engineer	Profile
Giordano Sordoni	COO CoFounder	Profile
Christen Romero	General Secretary	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC