CBAK Energy Correlations

CBAT Stock

USD 0.99 0.07 6.60%

The current 90-days correlation between CBAK Energy Technology and Ocean Power Technologies is 0.37 (i.e., Weak diversification). The correlation of CBAK Energy 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.

CBAK Energy Correlation With Market

Weak diversification

The correlation between CBAK Energy Technology and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBAK Energy Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CBAK Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CBAK Energy Technology. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against CBAK Stock

0.45	TIMB	TIM Participacoes	Pair Corr
0.41	CHNXF	ChitogenX	Pair Corr
0.34	BDVB	Bagger Daves Burger	Pair Corr
0.31	QVCGA	QVC Group Symbol Change	Pair Corr

Related Correlations Analysis

	OPTT	GWH	FLUX	ESP	DFLI	MVST	DHX	SPAI	HURC	ULBI
OPTT		0.06	0.01	0.33	0.07	0.12	0.1	-0.27	0.48	0.76	OPTT
GWH	0.06		0.66	-0.49	0.67	0.69	-0.62	0.21	-0.15	-0.05	GWH
FLUX	0.01	0.66		-0.78	0.88	0.91	-0.51	0.54	-0.35	-0.28	FLUX
ESP	0.33	-0.49	-0.78		-0.71	-0.7	0.58	-0.34	0.35	0.47	ESP
DFLI	0.07	0.67	0.88	-0.71		0.86	-0.55	0.47	-0.25	-0.22	DFLI
MVST	0.12	0.69	0.91	-0.7	0.86		-0.49	0.5	-0.23	-0.13	MVST
DHX	0.1	-0.62	-0.51	0.58	-0.55	-0.49		0.1	-0.02	0.26	DHX
SPAI	-0.27	0.21	0.54	-0.34	0.47	0.5	0.1		-0.78	-0.58	SPAI
HURC	0.48	-0.15	-0.35	0.35	-0.25	-0.23	-0.02	-0.78		0.75	HURC
ULBI	0.76	-0.05	-0.28	0.47	-0.22	-0.13	0.26	-0.58	0.75		ULBI
	OPTT	GWH	FLUX	ESP	DFLI	MVST	DHX	SPAI	HURC	ULBI

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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

MVST	+ 0.91	FLUX
DFLI	+ 0.88	FLUX
MVST	+ 0.86	DFLI
ULBI	+ 0.76	OPTT
ULBI	+ 0.75	HURC
MVST	+ 0.69	GWH

High negative correlations

HURC	- 0.78	SPAI
ESP	- 0.78	FLUX
DFLI	- 0.71	ESP
MVST	- 0.7	ESP
DHX	- 0.62	GWH
ULBI	- 0.58	SPAI

Risk-Adjusted Indicators

There is a big difference between CBAK Stock performing well and CBAK Energy 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 CBAK Energy'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
OPTT	4.10	(0.45)	0.00	(0.09)	0.00	0.00	9.62	(10.71)	34.57
GWH	11.09	3.60	0.43	(1.55)	6.49	(15.67)	19.71	(12.22)	167.51
FLUX	6.69	1.97	0.29	4.27	5.33	(8.12)	17.05	(7.87)	71.17
ESP	2.80	(0.48)	0.00	(0.46)	0.00	0.00	5.48	(6.96)	18.27
DFLI	13.85	4.65	0.35	0.59	9.56	(22.11)	58.82	(21.15)	126.80
MVST	4.47	1.04	0.22	0.81	3.87	(5.29)	12.50	(6.18)	21.31
DHX	3.57	(0.42)	0.00	(0.24)	0.00	0.00	8.16	(6.52)	23.45
SPAI	6.12	1.21	0.22	0.42	5.47	(7.07)	16.40	(8.66)	29.35
HURC	1.62	(0.19)	0.00	(0.23)	0.00	0.00	3.69	(3.56)	10.11
ULBI	2.43	(0.56)	0.00	(0.14)	0.00	0.00	6.08	(5.57)	23.11

CBAK Energy Corporate Management

Guosheng Wang	Consultant	Profile
Jiewei Thierry	Investor Officer	Profile
Yongbin Han	CFO Investments	Profile
Xiujun Tian	Deputy Engineer	Profile

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