Plug Power Correlations

PLUG Stock

USD 1.79 0.14 8.48%

The current 90-days correlation between Plug Power and Microvast Holdings is -0.01 (i.e., Good diversification). The correlation of Plug 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.

Plug Power Correlation With Market

Weak diversification

The correlation between Plug Power and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plug Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Plug Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Plug Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For more detail on how to invest in Plug Stock please use our How to Invest in Plug Power guide.

Moving together with Plug Stock

0.9	BE	Bloom Energy Corp	Pair Corr
0.76	ELVA	Electrovaya Common Shares	Pair Corr
0.87	ENVX	Enovix Corp	Pair Corr
0.73	AYI	Acuity Brands	Pair Corr
0.85	ESP	Espey Mfg Electronics	Pair Corr
0.67	NVT	nVent Electric PLC	Pair Corr
0.84	SVT	Servotronics	Pair Corr
0.67	VRT	Vertiv Holdings Earnings Call This Week	Pair Corr
0.72	HUBB	Hubbell	Pair Corr
0.89	SLDPW	Solid Power	Pair Corr
0.88	PLPC	Preformed Line Products	Pair Corr

Moving against Plug Stock

0.58	GTI	Graphjet Technology	Pair Corr
0.57	ELPW	Elong Power Holding	Pair Corr
0.53	GWH	ESS Tech	Pair Corr
0.43	ENR	Energizer Holdings	Pair Corr
0.33	EOSE	Eos Energy Enterprises Buyout Trend	Pair Corr
0.77	ADSEW	ADS TEC ENERGY	Pair Corr
0.69	GAUZ	Gauzy Ordinary	Pair Corr
0.69	LNKS	Linkers Industries	Pair Corr
0.73	OESX	Orion Energy Systems	Pair Corr
0.58	SKYX	SKYX Platforms Corp	Pair Corr
0.37	ADSE	Ads Tec Energy	Pair Corr

Related Correlations Analysis

	FCEL	BE	MVST	SLDP	ENVX	NIO	BLDP	BLNK	QS
FCEL		0.65	0.86	0.51	0.42	-0.49	0.67	0.69	0.23	FCEL
BE	0.65		0.57	0.88	0.9	-0.24	0.94	0.86	0.75	BE
MVST	0.86	0.57		0.46	0.38	-0.38	0.58	0.5	0.16	MVST
SLDP	0.51	0.88	0.46		0.96	-0.09	0.89	0.82	0.92	SLDP
ENVX	0.42	0.9	0.38	0.96		-0.02	0.89	0.79	0.94	ENVX
NIO	-0.49	-0.24	-0.38	-0.09	-0.02		-0.14	-0.25	0.14	NIO
BLDP	0.67	0.94	0.58	0.89	0.89	-0.14		0.88	0.76	BLDP
BLNK	0.69	0.86	0.5	0.82	0.79	-0.25	0.88		0.7	BLNK
QS	0.23	0.75	0.16	0.92	0.94	0.14	0.76	0.7		QS
	FCEL	BE	MVST	SLDP	ENVX	NIO	BLDP	BLNK	QS

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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

ENVX	+ 0.96	SLDP
BLDP	+ 0.94	BE
QS	+ 0.94	ENVX
QS	+ 0.92	SLDP
ENVX	+ 0.9	BE
BLDP	+ 0.89	SLDP

High negative correlations

NIO	- 0.49	FCEL
NIO	- 0.38	MVST
BLNK	- 0.25	NIO
NIO	- 0.24	BE
BLDP	- 0.14	NIO
NIO	- 0.09	SLDP

Risk-Adjusted Indicators

There is a big difference between Plug Stock performing well and Plug 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 Plug 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
FCEL	5.02	0.39	0.10	0.32	4.94	(5.98)	15.46	(7.80)	39.41
BE	3.34	0.39	0.12	0.37	3.73	(3.74)	7.45	(6.85)	28.11
MVST	4.94	1.21	0.25	5.10	3.94	(6.45)	14.21	(6.23)	40.27
SLDP	4.75	1.95	0.39	2.97	3.45	(5.91)	14.72	(7.18)	24.24
ENVX	3.71	1.34	0.37	0.94	2.78	(4.50)	9.56	(5.58)	26.83
NIO	2.48	0.39	0.11	(3.58)	1.96	(3.08)	6.36	(3.47)	11.43
BLDP	3.38	0.54	0.15	0.43	3.85	(3.88)	8.33	(5.76)	21.44
BLNK	4.27	0.51	0.12	0.44	4.59	(4.87)	10.47	(7.14)	22.29
QS	4.80	2.23	0.42	3.63	3.70	(5.80)	16.69	(6.02)	48.38

Plug Power Corporate Management

Keith Schmid	Executive Projects	Profile
Tammy Kimble	Vice Resources	Profile
Meryl Fritz	Manager Communications	Profile
Dean Fullerton	Chief Officer	Profile

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