Correlation Between Eos Energy and Amprius Technologies
Can any of the company-specific risk be diversified away by investing in both Eos Energy and Amprius Technologies at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Eos Energy and Amprius Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eos Energy Enterprises and Amprius Technologies, you can compare the effects of market volatilities on Eos Energy and Amprius Technologies and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Eos Energy with a short position of Amprius Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eos Energy and Amprius Technologies.
Diversification Opportunities for Eos Energy and Amprius Technologies
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Eos and Amprius is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Eos Energy Enterprises and Amprius Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amprius Technologies and Eos Energy is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Eos Energy Enterprises are associated (or correlated) with Amprius Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amprius Technologies has no effect on the direction of Eos Energy i.e., Eos Energy and Amprius Technologies go up and down completely randomly.
Pair Corralation between Eos Energy and Amprius Technologies
Given the investment horizon of 90 days Eos Energy Enterprises is expected to generate 0.97 times more return on investment than Amprius Technologies. However, Eos Energy Enterprises is 1.03 times less risky than Amprius Technologies. It trades about 0.03 of its potential returns per unit of risk. Amprius Technologies is currently generating about 0.02 per unit of risk. If you would invest 490.00 in Eos Energy Enterprises on March 29, 2025 and sell it today you would lose (36.00) from holding Eos Energy Enterprises or give up 7.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eos Energy Enterprises vs. Amprius Technologies
Performance |
| Timeline |
| Eos Energy Enterprises |
| Amprius Technologies |
Eos Energy and Amprius Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eos Energy and Amprius Technologies
The main advantage of trading using opposite Eos Energy and Amprius Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eos Energy position performs unexpectedly, Amprius Technologies can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Amprius Technologies will offset losses from the drop in Amprius Technologies' long position.| Eos Energy vs. Microvast Holdings | Eos Energy vs. Chardan NexTech Acquisition | Eos Energy vs. Solid Power | Eos Energy vs. Plug Power |
| Amprius Technologies vs. Eos Energy Enterprises | Amprius Technologies vs. Microvast Holdings | Amprius Technologies vs. Chardan NexTech Acquisition | Amprius Technologies vs. Solid Power |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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