Advent Technologies Correlations

ADN Stock

USD 0.56 0.02 3.70%

The current 90-days correlation between Advent Technologies and Fusion Fuel Green is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Advent Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advent Technologies Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Advent Technologies Correlation With Market

Average diversification

The correlation between Advent Technologies Holdings and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advent Technologies Holdings and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advent Technologies Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Advent Stock

0.86	SJVN	SJVN Limited	Pair Corr
0.7	RNWWW	ReNew Energy Global	Pair Corr
0.7	DTW	DTE Energy	Pair Corr

Moving against Advent Stock

0.9	ELPC	Companhia Paranaense	Pair Corr
0.87	ACO-Y	ATCO	Pair Corr
0.68	BIP-UN	Brookfield Infrastructure	Pair Corr
0.67	AEP	American Electric Power	Pair Corr
0.62	ES	Eversource Energy	Pair Corr
0.6	ENIC	Enel Chile SA	Pair Corr
0.54	VGAS	Verde Clean Fuels	Pair Corr
0.54	ALE	Allete Inc	Pair Corr
0.5	FE	FirstEnergy	Pair Corr
0.5	EVRG	Evergy,	Pair Corr
0.42	CEG	Constellation Energy Corp Buyout Trend	Pair Corr
0.39	JEL	Jersey Electricity plc	Pair Corr
0.33	NLCINDIA	NLC India Limited	Pair Corr
0.9	ELP	Companhia Paranaense	Pair Corr
0.81	CIG	Companhia Energetica	Pair Corr
0.77	EBR	Centrais Electricas Symbol Change	Pair Corr
0.75	KEP	Korea Electric Power	Pair Corr
0.69	EDN	Empresa Distribuidora	Pair Corr
0.64	NRG	NRG Energy	Pair Corr
0.61	ENJ	Entergy New Orleans	Pair Corr
0.59	ETR	Entergy	Pair Corr
0.54	FTS	Fortis Inc	Pair Corr
0.53	EIX	Edison International	Pair Corr
0.51	NEE	Nextera Energy	Pair Corr
0.42	FTS	Fortis Inc	Pair Corr
0.42	LNT	Alliant Energy Corp	Pair Corr
0.36	EXC	Exelon	Pair Corr

Related Correlations Analysis

	HTOO	CREG	BNRG	MOTNF	RROYF	ASRE	AWSL	SHUNF	VXIT
HTOO		0.3	0.2	-0.16	0.08	-0.15	0.53	0.54	0.16	HTOO
CREG	0.3		0.6	-0.18	0.35	0.31	0.26	0.4	0.31	CREG
BNRG	0.2	0.6		-0.13	0.6	0.75	0.48	0.73	0.41	BNRG
MOTNF	-0.16	-0.18	-0.13		-0.1	-0.13	0.01	-0.23	-0.16	MOTNF
RROYF	0.08	0.35	0.6	-0.1		0.79	0.27	0.52	0.36	RROYF
ASRE	-0.15	0.31	0.75	-0.13	0.79		0.19	0.57	0.36	ASRE
AWSL	0.53	0.26	0.48	0.01	0.27	0.19		0.55	0.23	AWSL
SHUNF	0.54	0.4	0.73	-0.23	0.52	0.57	0.55		0.4	SHUNF
VXIT	0.16	0.31	0.41	-0.16	0.36	0.36	0.23	0.4		VXIT
	HTOO	CREG	BNRG	MOTNF	RROYF	ASRE	AWSL	SHUNF	VXIT

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

ASRE	+ 0.79	RROYF
ASRE	+ 0.75	BNRG
SHUNF	+ 0.73	BNRG
BNRG	+ 0.6	CREG
RROYF	+ 0.6	BNRG
SHUNF	+ 0.57	ASRE

High negative correlations

SHUNF	- 0.23	MOTNF
MOTNF	- 0.18	CREG
VXIT	- 0.16	MOTNF
MOTNF	- 0.16	HTOO
ASRE	- 0.15	HTOO
ASRE	- 0.13	MOTNF

Risk-Adjusted Indicators

There is a big difference between Advent Stock performing well and Advent Technologies 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 Advent Technologies' 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
HTOO	3.86	(0.34)	0.00	(0.11)	0.00	0.00	8.17	(7.95)	20.88
CREG	5.09	0.27	0.04	0.22	7.05	(5.41)	10.53	(8.39)	40.08
BNRG	3.35	(0.69)	0.00	(0.44)	0.00	0.00	5.71	(8.28)	23.93
MOTNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RROYF	2.49	(0.41)	0.00	8.86	0.00	0.00	5.00	(9.09)	40.57
ASRE	8.48	(2.00)	0.00	(0.43)	0.00	0.00	17.24	(19.62)	44.56
AWSL	7.53	(0.29)	0.00	(0.14)	0.00	0.00	21.69	(16.13)	69.38
SHUNF	1.34	(0.70)	0.00	(2.33)	0.00	0.00	0.00	0.00	44.74
VXIT	6.61	(0.25)	0.00	(0.09)	0.00	0.00	25.00	(20.00)	83.33

Advent Technologies Corporate Management

Ian Kaye	VP Devel	Profile
George Paloumpis	Chief Officer	Profile
Emory Castro	CTO Director	Profile
Nora Gourdoupi	Sr Director	Profile

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