Chardan NexTech Correlations

DFLI Stock

USD 0.88 0.02 2.22%

The current 90-days correlation between Chardan NexTech Acqu and ESS Tech is 0.13 (i.e., Average diversification). The correlation of Chardan NexTech 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.

Chardan NexTech Correlation With Market

Good diversification

The correlation between Chardan NexTech Acquisition and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chardan NexTech Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chardan Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Chardan NexTech Acquisition. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Chardan Stock

0.67	HI	Hillenbrand Earnings Call This Week	Pair Corr
0.77	PL	Planet Labs PBC	Pair Corr
0.78	RR	Richtech Robotics Class Earnings Call This Week	Pair Corr
0.85	DPRO	Draganfly Buyout Trend	Pair Corr
0.76	688392	SBT Ultrasonic Technology	Pair Corr
0.83	301148	Xiamen Jiarong Technology	Pair Corr
0.72	688028	Beijing Worldia Diamond	Pair Corr

Moving against Chardan Stock

0.76	AZ	A2Z Smart Technologies	Pair Corr
0.74	0ACC	Accelleron Industries	Pair Corr
0.57	688420	Tianjin Meiteng Tech	Pair Corr
0.53	600765	AVIC Heavy Machinery	Pair Corr
0.45	HY	Hyster Yale Materials	Pair Corr
0.72	600666	Aurora Optoelectronics	Pair Corr
0.7	001319	Winstech Precision Hldg	Pair Corr
0.64	688165	EFORT Intelligent	Pair Corr
0.59	300403	Jiangmen iDear Hanyu	Pair Corr
0.39	301028	Xiamen East Asia	Pair Corr
0.37	TEXRAIL	Texmaco Rail Engineering	Pair Corr
0.36	601890	Asian Star Anchor	Pair Corr
0.34	688169	Beijing Roborock Tec	Pair Corr
0.78	002774	IFE Elevators	Pair Corr
0.72	301317	Xinlei Compressor	Pair Corr
0.65	002667	AnShan Heavy Duty	Pair Corr
0.65	KABRAEXTRU	Kabra Extrusion Technik	Pair Corr
0.61	301032	Zhejiang Xinchai	Pair Corr
0.46	BRM	BioRem Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GWH	RFIL	SDST	FLUX	OPTT	CBAT	ESP	STI	NNBR	BAER
GWH		0.32	0.79	0.61	-0.03	0.58	-0.67	0.91	-0.71	-0.58	GWH
RFIL	0.32		0.13	0.66	0.31	0.07	-0.51	0.36	-0.53	-0.58	RFIL
SDST	0.79	0.13		0.5	0.03	0.69	-0.6	0.69	-0.53	-0.31	SDST
FLUX	0.61	0.66	0.5		0.36	0.38	-0.71	0.65	-0.72	-0.67	FLUX
OPTT	-0.03	0.31	0.03	0.36		0.23	0.0	0.08	0.02	0.0	OPTT
CBAT	0.58	0.07	0.69	0.38	0.23		-0.33	0.54	-0.24	-0.02	CBAT
ESP	-0.67	-0.51	-0.6	-0.71	0.0	-0.33		-0.59	0.84	0.71	ESP
STI	0.91	0.36	0.69	0.65	0.08	0.54	-0.59		-0.68	-0.56	STI
NNBR	-0.71	-0.53	-0.53	-0.72	0.02	-0.24	0.84	-0.68		0.81	NNBR
BAER	-0.58	-0.58	-0.31	-0.67	0.0	-0.02	0.71	-0.56	0.81		BAER
	GWH	RFIL	SDST	FLUX	OPTT	CBAT	ESP	STI	NNBR	BAER

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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

STI	+ 0.91	GWH
NNBR	+ 0.84	ESP
BAER	+ 0.81	NNBR
SDST	+ 0.79	GWH
BAER	+ 0.71	ESP
CBAT	+ 0.69	SDST

High negative correlations

NNBR	- 0.72	FLUX
ESP	- 0.71	FLUX
NNBR	- 0.71	GWH
NNBR	- 0.68	STI
BAER	- 0.67	FLUX
ESP	- 0.67	GWH

Risk-Adjusted Indicators

There is a big difference between Chardan Stock performing well and Chardan NexTech 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 Chardan NexTech'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
GWH	11.33	2.28	0.39	0.33	6.84	(17.54)	16.86	(9.47)	167.51
RFIL	3.75	0.15	0.00	(0.31)	4.39	(4.55)	9.87	(7.54)	24.20
SDST	5.75	0.28	0.04	0.74	5.90	(8.57)	14.73	(11.39)	51.90
FLUX	8.21	1.19	0.10	(3.29)	9.58	(9.55)	17.05	(16.54)	87.42
OPTT	4.02	(0.35)	(0.01)	0.01	4.76	(5.40)	8.33	(8.51)	34.57
CBAT	2.67	(0.27)	0.00	(0.03)	0.00	0.00	6.06	(6.60)	22.75
ESP	2.48	(0.19)	0.00	0.94	0.00	0.00	5.04	(5.19)	18.27
STI	15.49	3.85	0.51	0.30	8.28	(21.25)	18.45	(19.76)	317.39
NNBR	2.70	(0.30)	0.00	(3.58)	0.00	0.00	6.29	(4.78)	25.32
BAER	3.04	(0.31)	0.00	(0.04)	0.00	0.00	7.41	(6.40)	19.70

Chardan NexTech Corporate Management

Wade Seaburg	Chief Officer	Profile
Denis Phares	Chairman, CoFounder	Profile
Tyler Bourns	Chief Officer	Profile
John MBA	Chief Officer	Profile
Dominic Sinnott	General Counsel	Profile
Nicole Harvey	Compliance Officer	Profile

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