Quantumscape Corp Correlations

QS Stock

USD 4.13 0.15 3.77%

The current 90-days correlation between Quantumscape Corp and Aeva Technologies, Common is 0.53 (i.e., Very weak diversification). The correlation of Quantumscape Corp 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 Corp Correlation With Market

Very weak diversification

The correlation between Quantumscape Corp and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Quantumscape Corp and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Quantumscape Corp. 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.

For more information on how to buy Quantumscape Stock please use our How to Invest in Quantumscape Corp guide.

Moving together with Quantumscape Stock

0.64	CENN	Cenntro Electric	Pair Corr
0.69	UA	Under Armour C	Pair Corr
0.66	WAFU	Wah Fu Education	Pair Corr
0.75	AEO	American Eagle Outfitters	Pair Corr
0.69	ANF	Abercrombie Fitch	Pair Corr
0.82	BBY	Best Buy	Pair Corr
0.82	DBI	Designer Brands	Pair Corr
0.8	DIN	Dine Brands Global	Pair Corr
0.8	FLL	Full House Resorts	Pair Corr
0.76	FND	Floor Decor Holdings	Pair Corr
0.64	GCO	Genesco	Pair Corr
0.86	HBI	Hanesbrands	Pair Corr
0.77	HVT	Haverty Furniture	Pair Corr
0.7	HWH	HWH International	Pair Corr
0.66	LOW	Lowes Companies	Pair Corr
0.74	LVS	Las Vegas Sands Sell-off Trend	Pair Corr
0.7	FATBB	FAT Brands	Pair Corr

Moving against Quantumscape Stock

0.38

QSG

QuantaSing Group Upward Rally

Pair Corr

Related Correlations Analysis

	MBLY	INVZ	AEVA	HYLN	LAZR	HSAI	KNDI	WPRT	LIDR
MBLY		0.75	0.58	0.32	-0.01	0.69	-0.02	0.11	0.42	MBLY
INVZ	0.75		0.8	0.2	-0.33	0.51	-0.33	-0.25	0.73	INVZ
AEVA	0.58	0.8		-0.12	-0.57	0.26	-0.68	-0.57	0.63	AEVA
HYLN	0.32	0.2	-0.12		0.19	0.27	0.24	0.24	0.12	HYLN
LAZR	-0.01	-0.33	-0.57	0.19		0.17	0.8	0.8	-0.36	LAZR
HSAI	0.69	0.51	0.26	0.27	0.17		0.2	0.3	0.36	HSAI
KNDI	-0.02	-0.33	-0.68	0.24	0.8	0.2		0.88	-0.5	KNDI
WPRT	0.11	-0.25	-0.57	0.24	0.8	0.3	0.88		-0.29	WPRT
LIDR	0.42	0.73	0.63	0.12	-0.36	0.36	-0.5	-0.29		LIDR
	MBLY	INVZ	AEVA	HYLN	LAZR	HSAI	KNDI	WPRT	LIDR

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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

WPRT	+ 0.88	KNDI
AEVA	+ 0.8	INVZ
KNDI	+ 0.8	LAZR
WPRT	+ 0.8	LAZR
INVZ	+ 0.75	MBLY
LIDR	+ 0.73	INVZ

High negative correlations

KNDI	- 0.68	AEVA
WPRT	- 0.57	AEVA
LAZR	- 0.57	AEVA
LIDR	- 0.5	KNDI
LIDR	- 0.36	LAZR
KNDI	- 0.33	INVZ

Risk-Adjusted Indicators

There is a big difference between Quantumscape Stock performing well and Quantumscape Corp 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 Corp'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	3.20	0.28	0.08	0.16	3.51	(3.79)	8.65	(4.74)	29.72
INVZ	3.99	0.37	0.08	0.19	4.05	(4.92)	9.78	(6.76)	25.17
AEVA	6.93	3.21	0.46	1.31	5.43	(8.53)	17.85	(10.12)	50.24
HYLN	5.04	0.33	0.06	0.29	5.34	(6.07)	9.82	(7.59)	57.14
LAZR	5.70	(0.33)	0.00	(0.48)	0.00	0.00	14.11	(11.98)	56.20
HSAI	5.86	0.55	0.10	0.49	5.36	(7.45)	12.75	(8.82)	62.34
KNDI	2.76	(0.46)	0.00	(0.51)	0.00	0.00	7.14	(5.81)	19.37
WPRT	3.11	(0.42)	0.00	(0.28)	0.00	0.00	5.14	(6.93)	19.29
LIDR	3.75	0.37	0.07	0.26	4.74	(4.25)	8.93	(7.27)	25.38

Quantumscape Corp 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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