GreenPower Correlations

GP Stock

USD 1.49 0.00 0.00%

The current 90-days correlation between GreenPower Motor and Chanson International Holding is 0.13 (i.e., Average diversification). The correlation of GreenPower 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.

GreenPower Correlation With Market

Weak diversification

The correlation between GreenPower Motor and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GreenPower Motor and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GreenPower Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GreenPower Motor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with GreenPower Stock

0.61

ALSN

Allison Transmission

Pair Corr

Moving against GreenPower Stock

0.75	BKRKF	PT Bank Rakyat	Pair Corr
0.72	CAT	Caterpillar	Pair Corr
0.71	300818	Jiangxi Naipu Mining	Pair Corr
0.67	600984	Shaanxi Construction	Pair Corr
0.67	000920	Vontron Technology	Pair Corr
0.61	301039	CIMC Vehicles	Pair Corr
0.44	000680	Shantui Construction	Pair Corr
0.44	TLK	Telkom Indonesia Tbk	Pair Corr
0.38	000425	XCMG Construction	Pair Corr
0.38	601717	Zhengzhou Coal Mining	Pair Corr
0.75	LSRCY	Lasertec	Pair Corr
0.75	INVX	Innovex International,	Pair Corr
0.66	GTLS	Chart Industries	Pair Corr
0.65	SSLLF	Siltronic AG	Pair Corr
0.61	NEE	Nextera Energy	Pair Corr
0.61	FET	Forum Energy Technologies Earnings Call Today	Pair Corr
0.61	BK	Bank of New York	Pair Corr
0.57	XYL	Xylem Inc	Pair Corr
0.53	CVI	CVR Energy	Pair Corr
0.47	BHR-PD	Braemar Hotels Resorts	Pair Corr
0.42	PATH	Uipath Inc	Pair Corr
0.41	GEBHF	Genting Berhad	Pair Corr
0.38	DRDGF	Drdgold	Pair Corr
0.36	GS	Goldman Sachs Group	Pair Corr

Related Correlations Analysis

	PRPL	KNDI	CHSN	FLL	GGR	HOFT	GRWG	UFI	DIBS	STKS
PRPL		0.85	0.17	0.92	0.93	0.49	0.03	0.51	-0.7	0.75	PRPL
KNDI	0.85		0.01	0.8	0.76	0.23	-0.05	0.4	-0.65	0.72	KNDI
CHSN	0.17	0.01		0.18	0.21	0.11	-0.09	0.29	-0.28	0.17	CHSN
FLL	0.92	0.8	0.18		0.95	0.63	0.08	0.39	-0.6	0.64	FLL
GGR	0.93	0.76	0.21	0.95		0.66	0.05	0.47	-0.66	0.64	GGR
HOFT	0.49	0.23	0.11	0.63	0.66		0.1	0.09	-0.13	0.1	HOFT
GRWG	0.03	-0.05	-0.09	0.08	0.05	0.1		0.11	-0.1	0.17	GRWG
UFI	0.51	0.4	0.29	0.39	0.47	0.09	0.11		-0.86	0.74	UFI
DIBS	-0.7	-0.65	-0.28	-0.6	-0.66	-0.13	-0.1	-0.86		-0.83	DIBS
STKS	0.75	0.72	0.17	0.64	0.64	0.1	0.17	0.74	-0.83		STKS
	PRPL	KNDI	CHSN	FLL	GGR	HOFT	GRWG	UFI	DIBS	STKS

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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

GGR	+ 0.95	FLL
GGR	+ 0.93	PRPL
FLL	+ 0.92	PRPL
KNDI	+ 0.85	PRPL
FLL	+ 0.8	KNDI
GGR	+ 0.76	KNDI

High negative correlations

DIBS	- 0.86	UFI
STKS	- 0.83	DIBS
DIBS	- 0.7	PRPL
DIBS	- 0.66	GGR
DIBS	- 0.65	KNDI
DIBS	- 0.6	FLL

Risk-Adjusted Indicators

There is a big difference between GreenPower Stock performing well and GreenPower 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 GreenPower'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
PRPL	3.32	(0.48)	0.00	(0.81)	0.00	0.00	7.69	(7.14)	27.01
KNDI	2.19	(0.32)	0.00	(0.40)	0.00	0.00	2.50	(3.87)	20.26
CHSN	5.84	(0.68)	0.00	(0.46)	0.00	0.00	7.75	(12.59)	65.54
FLL	2.14	(0.68)	0.00	(0.43)	0.00	0.00	5.38	(4.33)	15.03
GGR	3.07	(1.04)	0.00	(0.41)	0.00	0.00	6.54	(8.01)	22.76
HOFT	2.11	0.09	0.02	0.20	2.67	(2.13)	3.94	(3.86)	14.16
GRWG	4.30	0.14	0.04	0.14	4.50	(5.17)	10.97	(7.14)	37.19
UFI	1.51	(0.41)	0.00	(2.98)	0.00	0.00	2.59	(4.48)	9.75
DIBS	2.52	0.87	0.35	0.43	1.81	(3.10)	8.64	(4.49)	20.16
STKS	2.91	(0.56)	0.00	(0.54)	0.00	0.00	4.24	(6.20)	41.36

GreenPower Corporate Management

Amber Parrish	HR Mang	Profile
Taylor Freeland	Manager Resources	Profile
Frank Zhang	Corporate Controller	Profile
Claus Tritt	Vice Sales	Profile

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