Erayak Power Correlations

RAYA Stock

4.04 0.27 6.26%

The current 90-days correlation between Erayak Power Solution and Icon Energy Corp is 0.15 (i.e., Average diversification). The correlation of Erayak Power 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.

Erayak Power Correlation With Market

Significant diversification

The correlation between Erayak Power Solution and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erayak Power Solution and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Erayak Stock

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

Moving together with Erayak Stock

0.66	0ACC	Accelleron Industries	Pair Corr
0.64	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.7	688165	EFORT Intelligent	Pair Corr
0.68	688169	Beijing Roborock Tec	Pair Corr

Moving against Erayak Stock

0.72	HI	Hillenbrand	Pair Corr
0.51	601608	CITIC Heavy Industries	Pair Corr
0.46	PH	Parker Hannifin	Pair Corr
0.35	TE	T1 Energy Symbol Change	Pair Corr
0.46	688392	SBT Ultrasonic Technology	Pair Corr
0.42	601890	Asian Star Anchor	Pair Corr
0.41	000777	SUFA Technology Industry	Pair Corr
0.41	301148	Xiamen Jiarong Technology	Pair Corr
0.31	301028	Xiamen East Asia	Pair Corr
0.59	002795	Yorhe Fluid Intelligent	Pair Corr
0.52	688028	Beijing Worldia Diamond	Pair Corr
0.48	002667	AnShan Heavy Duty	Pair Corr
0.42	BRM	BioRem Inc	Pair Corr

Related Correlations Analysis

	ICON	DGLY	SBLX	IVDA	SGLY	LICN	XPON	BLMZ	PMAX	UGRO
ICON		0.94	0.91	0.7	0.75	0.93	0.89	0.9	0.35	0.79	ICON
DGLY	0.94		0.85	0.7	0.69	0.87	0.93	0.93	0.35	0.66	DGLY
SBLX	0.91	0.85		0.82	0.66	0.92	0.87	0.76	0.55	0.84	SBLX
IVDA	0.7	0.7	0.82		0.64	0.71	0.76	0.62	0.48	0.66	IVDA
SGLY	0.75	0.69	0.66	0.64		0.71	0.69	0.58	0.05	0.62	SGLY
LICN	0.93	0.87	0.92	0.71	0.71		0.85	0.77	0.48	0.83	LICN
XPON	0.89	0.93	0.87	0.76	0.69	0.85		0.86	0.49	0.64	XPON
BLMZ	0.9	0.93	0.76	0.62	0.58	0.77	0.86		0.28	0.53	BLMZ
PMAX	0.35	0.35	0.55	0.48	0.05	0.48	0.49	0.28		0.36	PMAX
UGRO	0.79	0.66	0.84	0.66	0.62	0.83	0.64	0.53	0.36		UGRO
	ICON	DGLY	SBLX	IVDA	SGLY	LICN	XPON	BLMZ	PMAX	UGRO

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Risk-Adjusted Indicators

There is a big difference between Erayak Stock performing well and Erayak Power 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 Erayak Power'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
ICON	3.88	(1.59)	0.00	(2.54)	0.00	0.00	7.14	(11.11)	31.67
DGLY	4.19	(1.48)	0.00	(4.91)	0.00	0.00	8.06	(10.20)	44.96
SBLX	5.10	(0.73)	0.00	(0.25)	0.00	0.00	10.26	(9.45)	32.50
IVDA	6.83	(0.53)	0.00	(0.15)	0.00	0.00	16.67	(13.46)	67.69
SGLY	4.91	(1.05)	0.00	24.68	0.00	0.00	10.91	(10.66)	44.30
LICN	3.18	(0.39)	0.00	0.60	0.00	0.00	5.61	(5.02)	57.58
XPON	4.51	(0.48)	0.00	(0.74)	0.00	0.00	9.80	(8.66)	46.76
BLMZ	9.95	(4.58)	0.00	(2.74)	0.00	0.00	13.98	(27.36)	113.76
PMAX	6.68	0.52	0.07	0.38	7.10	(7.74)	25.55	(13.19)	64.52
UGRO	6.58	(0.24)	0.00	(0.35)	0.00	0.00	16.13	(12.00)	73.35

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