Ballard Power Correlations

BLDP Stock

USD 2.13 0.03 1.43%

The current 90-days correlation between Ballard Power Systems and Blink Charging Co is 0.55 (i.e., Very weak diversification). The correlation of Ballard 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ballard Power Correlation With Market

Weak diversification

The correlation between Ballard Power Systems and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ballard Power Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ballard Stock

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

Moving together with Ballard Stock

0.77	BW	Babcock Wilcox Enter	Pair Corr
0.8	CR	Crane Company Earnings Call This Week	Pair Corr
0.81	IR	Ingersoll Rand Earnings Call This Week	Pair Corr
0.84	PH	Parker Hannifin	Pair Corr
0.65	FELE	Franklin Electric	Pair Corr
0.64	AME	Ametek Inc Earnings Call This Week	Pair Corr
0.72	ATS	ATS Corporation	Pair Corr
0.84	CMI	Cummins Earnings Call This Week	Pair Corr
0.63	CVV	CVD Equipment Downward Rally	Pair Corr
0.82	CXT	Crane NXT	Pair Corr
0.88	CYD	China Yuchai Interna	Pair Corr
0.74	DCI	Donaldson	Pair Corr
0.81	DOV	Dover Sell-off Trend	Pair Corr
0.93	EMR	Emerson Electric	Pair Corr
0.89	ETN	Eaton PLC	Pair Corr
0.72	FLS	Flowserve Earnings Call This Week	Pair Corr
0.75	GGG	Graco Inc	Pair Corr
0.9	GHM	Graham	Pair Corr
0.8	ITT	ITT Inc Earnings Call This Week	Pair Corr
0.86	ITW	Illinois Tool Works Earnings Call This Week	Pair Corr
0.78	KAI	Kadant Inc	Pair Corr
0.81	MIR	Mirion Technologies Earnings Call This Week	Pair Corr
0.74	NNE	Nano Nuclear Energy Buyout Trend	Pair Corr
0.85	NPO	Enpro Industries	Pair Corr
0.81	PNR	Pentair PLC	Pair Corr
0.85	ROK	Rockwell Automation	Pair Corr
0.78	RRX	Regal Beloit Earnings Call This Week	Pair Corr
0.85	SMR	Nuscale Power Corp Aggressive Push	Pair Corr

Moving against Ballard Stock

0.53	CSW	CSW Industrials, Symbol Change	Pair Corr
0.47	EPAC	Enerpac Tool Group	Pair Corr
0.42	ENOV	Enovis Corp	Pair Corr
0.31	RR	Richtech Robotics Class	Pair Corr
0.75	HCAI	Huachen AI Parking	Pair Corr
0.66	INLF	INLIF LIMITED Ordinary	Pair Corr
0.49	WFF	WF Holding Limited	Pair Corr

Related Correlations Analysis

	BE	BLNK	CMI	FCEL	GE	GTLS	NLLSF	PLUG
BE		0.87	0.8	0.59	0.79	0.49	0.76	0.87	BE
BLNK	0.87		0.71	0.6	0.69	0.42	0.69	0.88	BLNK
CMI	0.8	0.71		0.54	0.89	0.82	0.66	0.67	CMI
FCEL	0.59	0.6	0.54		0.73	0.16	0.33	0.48	FCEL
GE	0.79	0.69	0.89	0.73		0.64	0.6	0.66	GE
GTLS	0.49	0.42	0.82	0.16	0.64		0.5	0.37	GTLS
NLLSF	0.76	0.69	0.66	0.33	0.6	0.5		0.81	NLLSF
PLUG	0.87	0.88	0.67	0.48	0.66	0.37	0.81		PLUG
	BE	BLNK	CMI	FCEL	GE	GTLS	NLLSF	PLUG

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Risk-Adjusted Indicators

There is a big difference between Ballard Stock performing well and Ballard 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 Ballard 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
BE	3.53	0.94	0.24	1.11	3.32	(4.18)	7.84	(6.85)	28.11
BLNK	4.36	0.53	0.15	0.51	4.58	(4.99)	10.47	(7.14)	22.29
CMI	1.09	0.13	0.18	0.33	0.72	(1.29)	2.85	(1.60)	10.30
FCEL	5.14	0.23	0.10	0.32	5.16	(5.92)	15.46	(7.80)	39.41
GE	1.07	0.44	0.23	0.78	1.01	(1.32)	2.75	(2.22)	9.81
GTLS	2.28	0.11	0.13	0.29	2.30	(2.78)	5.37	(2.93)	21.66
NLLSF	3.77	0.36	0.02	3.38	4.11	(6.33)	9.09	(8.00)	30.59
PLUG	6.67	1.49	0.19	(5.91)	5.63	(8.75)	25.35	(10.00)	42.72

Ballard Power Corporate Management

Kerry Hillier	Corporate Secretary	Profile
Lee Sweetland	Senior Officer	Profile
Mircea Gradu	Senior Officer	Profile
Sarbjot Sidhu	Senior Officer	Profile
Alfred Wong	Managing Pacific	Profile

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