GreenPower Correlations

Stocks . USA . 
Stock . GreenPower Motor
GP Stock  USD 0.93  0.03  3.33%   
The current 90-days correlation between GreenPower Motor and Lion Electric Corp is 0.05 (i.e., Significant diversification). The correlation of GreenPower 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.

GreenPower Correlation With Market

Significant diversification

The correlation between GreenPower Motor and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GreenPower Motor and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GreenPower Motor. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with GreenPower Stock

  0.62HYFM Hydrofarm HoldingsPairCorr
  0.71IDEX IdeanomicsPairCorr

Moving against GreenPower Stock

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  0.41MTW ManitowocPairCorr
  0.36PCAR PACCAR Inc Fiscal Year End 28th of January 2025 PairCorr
  0.31CMCO Columbus McKinnonPairCorr
  0.77HI HillenbrandPairCorr
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  0.53G Genpact LimitedPairCorr
  0.52BE Bloom Energy CorpPairCorr
  0.51AL Air LeasePairCorr
  0.48CR Crane CompanyPairCorr
  0.47AZ A2Z Smart TechnologiesPairCorr
  0.42KC Kingsoft Cloud Holdings TrendingPairCorr
  0.41R Ryder SystemPairCorr
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  0.33NX Quanex Building Products Fiscal Year End 12th of December 2024 PairCorr

Related Correlations Analysis

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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   
DE
+ 0.73
AGCO
DE
+ 0.61
HYFM
AGCO
+ 0.56
HYFM
XOS
+ 0.53
LEV
HYFM
+ 0.14
LEV
  
High negative correlations   
DE
- 0.52
XOS
DE
- 0.48
LEV
AGCO
- 0.34
XOS
HYFM
- 0.17
XOS
AGCO
- 0.12
LEV

Risk-Adjusted Indicators

There is a big difference between GreenPower Stock performing well and GreenPower 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 GreenPower'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.

GreenPower Corporate Management

Amber ParrishHR MangProfile
Taylor FreelandManager ResourcesProfile
Frank ZhangCorporate ControllerProfile
Claus TrittVice SalesProfile
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