Erayak Power Correlations

RAYA Stock

0.13 0.08 39.52%

The correlation of Erayak 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.

Erayak Power Correlation With Market

Good diversification

The correlation between Erayak Power Solution 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 Erayak Power Solution and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Erayak Stock

0.68

PLPC

Preformed Line Products Earnings Call This Week

Pair Corr

Moving against Erayak Stock

0.6	LNKS	Linkers Industries	Pair Corr
0.48	GWH	ESS Tech	Pair Corr
0.48	NVX	Novonix Ltd ADR	Pair Corr
0.39	EOSE	Eos Energy Enterprises Earnings Call This Week	Pair Corr
0.33	ADN	Advent Technologies	Pair Corr
0.33	XPON	Expion360	Pair Corr
0.33	SDSTW	Stardust Power	Pair Corr
0.65	DFLI	Chardan NexTech Acqu	Pair Corr
0.63	DFLIW	Chardan NexTech Acqu	Pair Corr
0.49	SDST	Stardust Power	Pair Corr
0.42	PPSI	Pioneer Power Solutions	Pair Corr
0.36	POLA	Polar Power	Pair Corr
0.35	SKYX	SKYX Platforms Corp	Pair Corr

Related Correlations Analysis

	ASPI	CBAT	EAF	JEWL	JZ	PPSI	SKYX	SLDPW	SNAL	YOSH
ASPI		0.62	0.86	0.0	-0.7	0.52	-0.11	0.63	0.31	-0.49	ASPI
CBAT	0.62		0.77	0.0	-0.88	0.14	-0.28	0.49	0.72	-0.54	CBAT
EAF	0.86	0.77		0.0	-0.81	0.46	-0.16	0.6	0.46	-0.51	EAF
JEWL	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	JEWL
JZ	-0.7	-0.88	-0.81	0.0		-0.26	0.23	-0.62	-0.69	0.63	JZ
PPSI	0.52	0.14	0.46	0.0	-0.26		-0.24	0.76	0.26	-0.49	PPSI
SKYX	-0.11	-0.28	-0.16	0.0	0.23	-0.24		-0.58	-0.65	0.76	SKYX
SLDPW	0.63	0.49	0.6	0.0	-0.62	0.76	-0.58		0.68	-0.82	SLDPW
SNAL	0.31	0.72	0.46	0.0	-0.69	0.26	-0.65	0.68		-0.79	SNAL
YOSH	-0.49	-0.54	-0.51	0.0	0.63	-0.49	0.76	-0.82	-0.79		YOSH
	ASPI	CBAT	EAF	JEWL	JZ	PPSI	SKYX	SLDPW	SNAL	YOSH

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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

EAF	+ 0.86	ASPI
EAF	+ 0.77	CBAT
SLDPW	+ 0.76	PPSI
YOSH	+ 0.76	SKYX
SNAL	+ 0.72	CBAT
SNAL	+ 0.68	SLDPW

High negative correlations

JZ	- 0.88	CBAT
YOSH	- 0.82	SLDPW
JZ	- 0.81	EAF
YOSH	- 0.79	SNAL
JZ	- 0.7	ASPI
SNAL	- 0.69	JZ

Risk-Adjusted Indicators

There is a big difference between Erayak Stock performing well and Erayak 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 Erayak 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
ASPI	4.69	0.89	0.18	1.67	3.85	(5.79)	11.48	(6.91)	25.42
CBAT	3.05	0.58	0.13	1.97	2.87	(4.02)	8.05	(5.06)	20.94
EAF	5.93	1.81	0.22	(1.14)	5.12	(7.59)	14.85	(9.59)	43.53
JEWL	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JZ	5.05	(2.38)	0.00	(1.45)	0.00	0.00	6.90	(20.71)	41.18
PPSI	2.71	0.37	0.08	0.83	2.72	(3.48)	7.66	(6.48)	15.61
SKYX	3.12	(0.10)	0.00	0.16	3.76	(3.80)	7.20	(7.14)	24.48
SLDPW	8.04	3.31	0.31	5.50	6.40	(11.99)	21.43	(13.33)	56.43
SNAL	4.57	0.48	0.12	0.58	4.44	(5.69)	12.12	(7.33)	32.05
YOSH	5.14	(0.54)	0.00	(1.33)	0.00	0.00	13.84	(12.91)	35.01

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