EZGO Technologies Correlations

EZGO Stock

USD 0.88 0.04 4.35%

The current 90-days correlation between EZGO Technologies and Forza X1 is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as EZGO Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EZGO Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

EZGO Technologies Correlation With Market

Good diversification

The correlation between EZGO Technologies and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EZGO Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

To learn how to invest in EZGO Stock, please use our How to Invest in EZGO Technologies guide.

Moving together with EZGO Stock

0.73	DOOO	BRP Inc Earnings Call This Week	Pair Corr
0.62	HOG	Harley Davidson	Pair Corr
0.7	PII	Polaris Industries	Pair Corr
0.75	DIBS	1StdibsCom	Pair Corr

Moving against EZGO Stock

0.68	MBUU	Malibu Boats	Pair Corr
0.57	MPX	Marine Products Fiscal Year End 23rd of January 2025	Pair Corr
0.56	REE	Ree Automotive Holding Earnings Call This Week	Pair Corr
0.49	MCFT	MCBC Holdings	Pair Corr
0.48	THO	Thor Industries	Pair Corr
0.34	FRZA	Forza X1	Pair Corr
0.31	BC	Brunswick	Pair Corr
0.77	AS	Amer Sports,	Pair Corr
0.7	GM	General Motors	Pair Corr
0.7	IP	International Paper	Pair Corr
0.64	BH	Biglari Holdings	Pair Corr
0.57	GT	Goodyear Tire Rubber	Pair Corr
0.37	H	Hyatt Hotels	Pair Corr
0.37	EM	Smart Share Global	Pair Corr
0.35	JD	JD Inc Adr Sell-off Trend	Pair Corr
0.8	WH	Wyndham Hotels Resorts	Pair Corr
0.76	SE	Sea	Pair Corr

Related Correlations Analysis

	FRZA	VMAR	FUV	MCOM	MPX	THO	DOOO	BC	EVVL	LFEV
FRZA		-0.28	0.0	0.0	0.28	0.11	-0.53	0.21	0.0	0.09	FRZA
VMAR	-0.28		0.0	0.0	-0.44	-0.33	0.82	-0.44	0.0	-0.03	VMAR
FUV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FUV
MCOM	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MCOM
MPX	0.28	-0.44	0.0	0.0		0.73	-0.41	0.74	0.0	0.09	MPX
THO	0.11	-0.33	0.0	0.0	0.73		-0.28	0.71	0.0	-0.21	THO
DOOO	-0.53	0.82	0.0	0.0	-0.41	-0.28		-0.19	0.0	0.12	DOOO
BC	0.21	-0.44	0.0	0.0	0.74	0.71	-0.19		0.0	0.19	BC
EVVL	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EVVL
LFEV	0.09	-0.03	0.0	0.0	0.09	-0.21	0.12	0.19	0.0		LFEV
	FRZA	VMAR	FUV	MCOM	MPX	THO	DOOO	BC	EVVL	LFEV

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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

DOOO	+ 0.82	VMAR
BC	+ 0.74	MPX
THO	+ 0.73	MPX
BC	+ 0.71	THO
MPX	+ 0.28	FRZA
BC	+ 0.21	FRZA

High negative correlations

DOOO	- 0.53	FRZA
BC	- 0.44	VMAR
MPX	- 0.44	VMAR
DOOO	- 0.41	MPX
THO	- 0.33	VMAR
DOOO	- 0.28	THO

Risk-Adjusted Indicators

There is a big difference between EZGO Stock performing well and EZGO 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 EZGO 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
FRZA	6.24	0.30	0.02	(0.57)	7.12	(9.16)	20.83	(15.15)	41.67
VMAR	6.57	(3.14)	0.00	14.49	0.00	0.00	11.45	(13.91)	59.45
FUV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCOM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MPX	1.08	0.03	(0.04)	0.66	1.33	(1.23)	2.21	(2.16)	7.94
THO	1.59	0.04	(0.03)	(0.19)	1.89	(1.80)	4.29	(2.77)	10.61
DOOO	1.55	(0.61)	0.00	8.56	0.00	0.00	2.03	(4.08)	12.05
BC	1.45	0.00	0.00	0.07	0.00	0.00	2.64	(2.82)	8.83
EVVL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LFEV	6.42	0.21	0.00	(0.35)	10.42	(33.37)	40.00	(28.57)	80.36

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