Ballard Power Correlations
BLDP Stock | USD 2.02 0.02 0.98% |
The current 90-days correlation between Ballard Power Systems and Blink Charging Co is 0.57 (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 0.35 (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.
Moving together with Ballard Stock
0.79 | BW | Babcock Wilcox Enter | PairCorr |
0.81 | CR | Crane Company Earnings Call This Week | PairCorr |
0.82 | IR | Ingersoll Rand Earnings Call This Week | PairCorr |
0.83 | PH | Parker Hannifin | PairCorr |
0.64 | FELE | Franklin Electric | PairCorr |
0.67 | AME | Ametek Inc Earnings Call This Week | PairCorr |
0.73 | ATS | ATS Corporation | PairCorr |
0.83 | CMI | Cummins Earnings Call This Week | PairCorr |
0.85 | CXT | Crane NXT | PairCorr |
0.89 | CYD | China Yuchai Interna | PairCorr |
0.75 | DCI | Donaldson | PairCorr |
0.82 | DOV | Dover Earnings Call Today | PairCorr |
0.93 | EMR | Emerson Electric | PairCorr |
0.88 | ETN | Eaton PLC | PairCorr |
0.73 | FLS | Flowserve Earnings Call This Week | PairCorr |
0.87 | GEV | GE Vernova LLC Buyout Trend | PairCorr |
0.77 | GGG | Graco Inc | PairCorr |
0.91 | GHM | Graham | PairCorr |
0.81 | ITT | ITT Inc Earnings Call This Week | PairCorr |
0.86 | ITW | Illinois Tool Works Earnings Call This Week | PairCorr |
0.77 | KAI | Kadant Inc | PairCorr |
0.82 | MIR | Mirion Technologies Earnings Call This Week | PairCorr |
0.66 | XMTR | Xometry | PairCorr |
0.78 | NNE | Nano Nuclear Energy | PairCorr |
0.85 | NPO | Enpro Industries | PairCorr |
0.82 | PNR | Pentair PLC | PairCorr |
0.85 | ROK | Rockwell Automation | PairCorr |
0.79 | RRX | Regal Beloit Earnings Call This Week | PairCorr |
Moving against Ballard Stock
0.49 | CSW | CSW Industrials, Symbol Change | PairCorr |
0.44 | EPAC | Enerpac Tool Group | PairCorr |
0.4 | ENOV | Enovis Corp | PairCorr |
Related Correlations Analysis
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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 | 3.26 | 0.46 | 0.14 | 0.50 | 3.64 | 7.45 | 28.11 | |||
BLNK | 4.32 | 0.65 | 0.16 | 0.56 | 4.52 | 10.47 | 22.29 | |||
CMI | 1.13 | 0.11 | 0.15 | 0.29 | 0.91 | 2.85 | 10.30 | |||
FCEL | 5.10 | 0.40 | 0.12 | 0.39 | 5.04 | 15.46 | 39.41 | |||
GE | 1.10 | 0.39 | 0.21 | 0.67 | 1.11 | 2.75 | 9.81 | |||
GTLS | 2.37 | 0.03 | 0.09 | 0.22 | 2.69 | 5.37 | 21.66 | |||
NLLSF | 3.77 | 0.39 | 0.03 | (20.97) | 4.11 | 9.09 | 30.59 | |||
PLUG | 6.67 | 0.85 | 0.19 | 0.51 | 5.63 | 25.35 | 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 |