CBAK Energy Correlations

CBAT Stock

USD 1.11 0.02 1.77%

The current 90-days correlation between CBAK Energy Technology and Ocean Power Technologies is 0.14 (i.e., Average diversification). The correlation of CBAK Energy 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.

CBAK Energy Correlation With Market

Significant diversification

The correlation between CBAK Energy Technology and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBAK Energy Technology and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CBAK Stock

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

Moving together with CBAK Stock

0.77	BE	Bloom Energy Corp	Pair Corr
0.87	KE	Kimball Electronics	Pair Corr
0.81	ELVA	Electrovaya Common Shares	Pair Corr
0.62	ENVX	Enovix Corp	Pair Corr
0.83	FCEL	FuelCell Energy	Pair Corr
0.83	AYI	Acuity Brands	Pair Corr
0.8	EAF	GrafTech International Earnings Call This Week	Pair Corr
0.83	ESP	Espey Mfg Electronics	Pair Corr
0.88	NVT	nVent Electric PLC	Pair Corr
0.88	SVT	Servotronics	Pair Corr
0.89	VRT	Vertiv Holdings Earnings Call This Week	Pair Corr
0.81	HUBB	Hubbell	Pair Corr
0.76	LTBR	Lightbridge Corp	Pair Corr
0.8	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.62	SLDPW	Solid Power	Pair Corr
0.79	MVSTW	Microvast Holdings	Pair Corr
0.8	PLPC	Preformed Line Products	Pair Corr
0.67	PLUG	Plug Power Buyout Trend	Pair Corr

Moving against CBAK Stock

0.87	ENR	Energizer Holdings	Pair Corr
0.79	GWH	ESS Tech	Pair Corr
0.65	ELPW	Elong Power Holding	Pair Corr
0.57	GTI	Graphjet Technology	Pair Corr
0.48	EPOW	Sunrise New Energy	Pair Corr
0.41	EOSE	Eos Energy Enterprises Buyout Trend	Pair Corr
0.61	ADSEW	ADS TEC ENERGY	Pair Corr
0.52	GAUZ	Gauzy Ordinary	Pair Corr
0.48	STI	Solidion Technology	Pair Corr
0.42	LNKS	Linkers Industries	Pair Corr
0.31	EOSEW	Eos Energy Enterprises	Pair Corr
0.31	IPWR	Ideal Power	Pair Corr
0.86	OESX	Orion Energy Systems	Pair Corr
0.71	POLA	Polar Power	Pair Corr
0.4	ADSE	Ads Tec Energy	Pair Corr

Related Correlations Analysis

	POLA	OPTT	PPSI	EOSE	FCEL	WWR	AYRO	KNDI
POLA		-0.42	0.08	0.18	-0.76	-0.02	0.67	0.42	POLA
OPTT	-0.42		0.57	0.12	0.55	0.48	-0.7	0.15	OPTT
PPSI	0.08	0.57		0.1	0.12	0.39	-0.26	0.38	PPSI
EOSE	0.18	0.12	0.1		-0.5	-0.27	0.09	0.61	EOSE
FCEL	-0.76	0.55	0.12	-0.5		0.43	-0.63	-0.48	FCEL
WWR	-0.02	0.48	0.39	-0.27	0.43		-0.19	-0.03	WWR
AYRO	0.67	-0.7	-0.26	0.09	-0.63	-0.19		0.22	AYRO
KNDI	0.42	0.15	0.38	0.61	-0.48	-0.03	0.22		KNDI
	POLA	OPTT	PPSI	EOSE	FCEL	WWR	AYRO	KNDI

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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

AYRO	+ 0.67	POLA
KNDI	+ 0.61	EOSE
PPSI	+ 0.57	OPTT
FCEL	+ 0.55	OPTT
WWR	+ 0.48	OPTT
WWR	+ 0.43	FCEL

High negative correlations

FCEL	- 0.76	POLA
AYRO	- 0.7	OPTT
AYRO	- 0.63	FCEL
FCEL	- 0.5	EOSE
KNDI	- 0.48	FCEL
OPTT	- 0.42	POLA

Risk-Adjusted Indicators

There is a big difference between CBAK Stock performing well and CBAK Energy 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 CBAK Energy'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
POLA	1.89	(0.18)	0.00	(0.11)	0.00	0.00	4.06	(5.13)	17.20
OPTT	4.78	0.59	0.14	0.37	4.70	(6.01)	10.00	(7.27)	28.28
PPSI	2.33	0.08	0.04	0.18	2.75	(2.85)	7.33	(4.81)	15.61
EOSE	5.40	0.66	0.11	0.83	5.80	(6.71)	15.98	(7.68)	57.17
FCEL	5.02	0.39	0.10	0.32	4.94	(5.98)	15.46	(7.80)	39.41
WWR	3.72	0.85	0.15	4.20	3.37	(5.80)	11.11	(6.56)	25.08
AYRO	3.05	(0.17)	0.00	(0.48)	0.00	0.00	7.73	(5.46)	18.51
KNDI	2.62	(0.18)	(0.01)	0.04	2.71	(3.85)	6.19	(5.08)	19.37

CBAK Energy Corporate Management

Xiangyu Pei	S CFO	Profile
Guosheng Wang	Consultant	Profile
Jiewei Thierry	Investor Officer	Profile
Yongbin Han	CFO Investments	Profile
Xiujun Tian	Deputy Engineer	Profile

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