GreenPower Correlations

Stocks . USA . 
Stock . GreenPower Motor
GP Stock  USD 0.32  0.01  3.23%   
The current 90-days correlation between GreenPower Motor and Blue Bird Corp is 0.18 (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

Modest diversification

The correlation between GreenPower Motor and DJI is 0.2 (i.e., Modest 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 state.

Moving together with GreenPower Stock

  0.68CP Canadian Pacific RailwayPairCorr

Moving against GreenPower Stock

  0.59CAT CaterpillarPairCorr
  0.59J Jacobs SolutionsPairCorr
  0.58HYFM Hydrofarm HoldingsPairCorr
  0.58BNCWW CEA IndustriesPairCorr
  0.56REVG Rev GroupPairCorr
  0.56R Ryder SystemPairCorr
  0.55OSK OshkoshPairCorr
  0.53GENC Gencor IndustriesPairCorr
  0.51ARTW Arts Way ManufacturingPairCorr
  0.48AGCO AGCOPairCorr
  0.38ALG Alamo GroupPairCorr
  0.38PCAR PACCAR IncPairCorr
  0.34ASTE Astec IndustriesPairCorr
  0.31TEX TerexPairCorr
  0.66BE Bloom Energy CorpPairCorr
  0.59GD General DynamicsPairCorr
  0.58CR Crane CompanyPairCorr
  0.58DY Dycom IndustriesPairCorr
  0.56GE GE AerospacePairCorr
  0.55BZ Kanzhun Ltd ADRPairCorr
  0.55CW Curtiss WrightPairCorr
  0.55MG Mistras GroupPairCorr
  0.54PH Parker HannifinPairCorr
  0.51KE Kimball ElectronicsPairCorr
  0.42BW Babcock Wilcox EnterPairCorr
  0.33BA BoeingPairCorr
  0.32HI HillenbrandPairCorr
  0.32LZ LegalZoomPairCorr

Related Correlations Analysis


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

NIU
+ 0.75
BLBD
KNDI
+ 0.7
BLBD
NIU
+ 0.69
KNDI
BEEM
+ 0.63
KNDI
BEEM
+ 0.59
HYLN
BEEM
+ 0.53
BLBD
  

High negative correlations

NIU
- 0.23
AYRO
AYRO
- 0.15
BLBD
KNDI
- 0.14
AYRO

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.

GreenPower Corporate Management

Amber ParrishHR MangProfile
Taylor FreelandManager ResourcesProfile
Frank ZhangCorporate ControllerProfile
Claus TrittVice SalesProfile
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