QuantumScape Correlations

QS Stock

USD 10.36 0.44 4.07%

The current 90-days correlation between QuantumScape Class and Mobileye Global Class is 0.3 (i.e., Weak diversification). The correlation of QuantumScape 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.

QuantumScape Correlation With Market

Excellent diversification

The correlation between QuantumScape Class and DJI is -0.54 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding QuantumScape Class and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with QuantumScape Stock

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

Moving together with QuantumScape Stock

0.66

GGR

Gogoro Inc

Pair Corr

Moving against QuantumScape Stock

0.88	PHI	PLDT Inc ADR	Pair Corr
0.84	AIZ	Assurant	Pair Corr
0.83	HLT	Hilton Worldwide Holdings	Pair Corr
0.79	IDYA	Ideaya Biosciences	Pair Corr
0.76	KGC	Kinross Gold Aggressive Push	Pair Corr
0.72	MNHVF	Mowi ASA	Pair Corr
0.72	KEYS	Keysight Technologies	Pair Corr
0.67	FCAP	First Capital	Pair Corr
0.65	USAS	Americas Silver Corp Trending	Pair Corr
0.63	LMND	Lemonade	Pair Corr
0.61	AEM	Agnico Eagle Mines	Pair Corr
0.59	KAEPY	Kansai Electric Power Earnings Call This Week	Pair Corr
0.48	MGDDY	Compagnie Generale des	Pair Corr
0.41	BFDE	Bedford Energy	Pair Corr
0.38	KMFG	KMFG	Pair Corr

Related Correlations Analysis

	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS
MBLY		-0.42	-0.37	-0.2	-0.65	0.48	-0.61	0.66	-0.16	-0.57	MBLY
ALV	-0.42		0.93	0.81	0.77	-0.51	0.11	-0.68	0.19	0.58	ALV
BWA	-0.37	0.93		0.84	0.73	-0.61	0.1	-0.69	0.16	0.45	BWA
LKQ	-0.2	0.81	0.84		0.63	-0.42	-0.21	-0.46	0.17	0.35	LKQ
HAS	-0.65	0.77	0.73	0.63		-0.43	0.45	-0.83	0.36	0.81	HAS
MOD	0.48	-0.51	-0.61	-0.42	-0.43		-0.32	0.49	0.0	-0.25	MOD
CART	-0.61	0.11	0.1	-0.21	0.45	-0.32		-0.64	0.52	0.6	CART
ZK	0.66	-0.68	-0.69	-0.46	-0.83	0.49	-0.64		-0.52	-0.74	ZK
PAG	-0.16	0.19	0.16	0.17	0.36	0.0	0.52	-0.52		0.59	PAG
DDS	-0.57	0.58	0.45	0.35	0.81	-0.25	0.6	-0.74	0.59		DDS
	MBLY	ALV	BWA	LKQ	HAS	MOD	CART	ZK	PAG	DDS

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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

BWA	+ 0.93	ALV
LKQ	+ 0.84	BWA
LKQ	+ 0.81	ALV
DDS	+ 0.81	HAS
HAS	+ 0.77	ALV
HAS	+ 0.73	BWA

High negative correlations

ZK	- 0.83	HAS
DDS	- 0.74	ZK
ZK	- 0.69	BWA
ZK	- 0.68	ALV
HAS	- 0.65	MBLY
ZK	- 0.64	CART

Risk-Adjusted Indicators

There is a big difference between QuantumScape Stock performing well and QuantumScape 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 QuantumScape'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
MBLY	2.38	(0.69)	0.00	(0.36)	0.00	0.00	3.53	(5.23)	15.74
ALV	1.08	0.04	0.04	0.10	1.29	(1.09)	2.85	(2.47)	6.91
BWA	1.23	0.08	0.06	0.13	1.58	(1.34)	3.51	(2.90)	8.11
LKQ	1.58	0.10	0.08	0.13	1.64	(1.75)	3.36	(2.55)	9.62
HAS	1.11	0.20	0.18	0.25	0.85	(1.32)	3.15	(1.67)	6.56
MOD	3.02	(0.22)	0.00	(0.01)	0.00	0.00	5.82	(7.46)	23.70
CART	1.69	0.04	(0.01)	0.33	2.24	(1.56)	3.91	(3.67)	11.01
ZK	0.98	(0.15)	0.00	9.28	0.00	0.00	2.46	(2.67)	8.19
PAG	0.97	(0.14)	0.00	(0.09)	0.00	0.00	2.62	(2.38)	6.07
DDS	2.00	0.14	0.04	0.32	2.73	(2.13)	5.05	(4.39)	17.26

QuantumScape Corporate Management

Susan Huppertz	Director	Profile
Jeneanne Hanley	Director	Profile
J Straubel	Independent Director	Profile
Pr Prinz	Chief CoFounder	Profile
Gena Lovett	Director	Profile

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