Solid Power Correlations

SLDP Stock

USD 1.27 0.07 5.83%

The current 90-days correlation between Solid Power and FREYR Battery SA is -0.11 (i.e., Good diversification). The correlation of Solid 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Solid Power Correlation With Market

Very weak diversification

The correlation between Solid Power and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solid Power and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solid Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Solid 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 unemployment.

To learn how to invest in Solid Stock, please use our How to Invest in Solid Power guide.

Moving together with Solid Stock

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0.77	CNR	Core Natural Resources, Symbol Change	Pair Corr
0.84	FIP	FTAI Infrastructure	Pair Corr
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0.87	FSTR	LB Foster	Pair Corr
0.61	MPU	Mega Matrix Corp	Pair Corr
0.82	NXT	Nextracker Class A Earnings Call This Week	Pair Corr
0.63	SOL	Emeren Group Tech Boost	Pair Corr
0.8	TRN	Trinity Industries	Pair Corr
0.74	VMI	Valmont Industries	Pair Corr
0.72	WAB	Westinghouse Air Brake	Pair Corr
0.61	GTEC	Greenland Acquisition	Pair Corr
0.93	HYLN	Hyliion Holdings Corp	Pair Corr
0.75	NNBR	NN Inc	Pair Corr
0.87	NWPX	Northwest Pipe	Pair Corr
0.7	PLOW	Douglas Dynamics	Pair Corr
0.9	RAIL	Freightcar America	Pair Corr
0.8	CRESW	Cresud SACIF y	Pair Corr
0.73	SHLS	Shoals Technologies Tech Boost	Pair Corr
0.67	BEEM	Beam Global	Pair Corr
0.85	SW	Smurfit WestRock plc	Pair Corr
0.79	VIRC	Virco Manufacturing	Pair Corr
0.68	F-PB	Ford Motor	Pair Corr
0.71	F-PC	Ford Motor	Pair Corr
0.7	F-PD	F PD	Pair Corr
0.66	FFAI	Faraday Future Intel Symbol Change	Pair Corr
0.81	FIGS	Figs Inc	Pair Corr
0.77	AIN	Albany International	Pair Corr

Related Correlations Analysis

	PLUG	FREY	FCEL	ENVX	MVST	EOSE	DFLI	BE
PLUG		0.81	0.91	0.82	-0.37	-0.1	0.84	0.91	PLUG
FREY	0.81		0.88	0.94	-0.09	0.18	0.93	0.84	FREY
FCEL	0.91	0.88		0.92	-0.05	0.11	0.93	0.87	FCEL
ENVX	0.82	0.94	0.92		0.0	0.26	0.97	0.81	ENVX
MVST	-0.37	-0.09	-0.05	0.0		0.43	-0.01	-0.3	MVST
EOSE	-0.1	0.18	0.11	0.26	0.43		0.2	-0.07	EOSE
DFLI	0.84	0.93	0.93	0.97	-0.01	0.2		0.8	DFLI
BE	0.91	0.84	0.87	0.81	-0.3	-0.07	0.8		BE
	PLUG	FREY	FCEL	ENVX	MVST	EOSE	DFLI	BE

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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

DFLI	+ 0.97	ENVX
ENVX	+ 0.94	FREY
DFLI	+ 0.93	FREY
DFLI	+ 0.93	FCEL
ENVX	+ 0.92	FCEL
FCEL	+ 0.91	PLUG

High negative correlations

MVST	- 0.37	PLUG
BE	- 0.3	MVST
EOSE	- 0.1	PLUG
MVST	- 0.09	FREY
BE	- 0.07	EOSE
MVST	- 0.05	FCEL

Risk-Adjusted Indicators

There is a big difference between Solid Stock performing well and Solid 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 Solid 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
PLUG	4.01	(1.02)	0.00	(0.92)	0.00	0.00	8.00	(8.33)	35.30
FREY	4.14	(0.38)	0.00	(3.27)	0.00	0.00	9.63	(7.95)	21.58
FCEL	3.21	(1.09)	0.00	1.44	0.00	0.00	5.76	(7.47)	21.86
ENVX	3.98	(0.95)	0.00	1.75	0.00	0.00	6.16	(9.15)	32.77
MVST	5.28	0.51	0.13	(0.88)	5.20	(6.22)	10.91	(9.20)	41.37
EOSE	5.18	0.76	0.12	0.25	4.84	(6.62)	16.97	(8.85)	40.49
DFLI	4.47	(2.06)	0.00	(3.12)	0.00	0.00	6.36	(10.81)	30.23
BE	3.56	(0.47)	0.00	5.59	0.00	0.00	6.26	(7.55)	24.69

Solid Power Corporate Management

David Jansen	Pres Chairman	Profile
Berislav Blizanac	Executive Technologies	Profile
Jennifer Almquist	Investor Relations	Profile
Derek Johnson	Chief Officer	Profile
Ramelle Gilliland	Executive Management	Profile
Hyungrak Kim	Executive Technologies	Profile

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