Worksport Correlations
WKSP Stock | USD 3.68 0.13 3.41% |
The correlation of Worksport 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.
Worksport Correlation With Market
Average diversification
The correlation between Worksport and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worksport and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Worksport Stock
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0.79 | VC | Visteon Corp | PairCorr |
0.61 | ALV | Autoliv | PairCorr |
0.8 | LEA | Lear Earnings Call Today | PairCorr |
0.77 | MGA | Magna International Earnings Call This Week | PairCorr |
0.69 | SRI | Stoneridge Earnings Call This Week | PairCorr |
0.68 | GNTX | Gentex Earnings Call Today | PairCorr |
0.68 | INVZ | Innoviz Technologies | PairCorr |
0.71 | ADNT | Adient PLC | PairCorr |
0.69 | H | Hyatt Hotels | PairCorr |
0.66 | BC | Brunswick | PairCorr |
0.65 | BH | Biglari Holdings | PairCorr |
0.65 | BQ | Boqii Holding Limited | PairCorr |
0.71 | LE | Lands End | PairCorr |
Moving against Worksport Stock
0.46 | XPEV | Xpeng Inc Aggressive Push | PairCorr |
0.37 | ECDA | ECD Automotive Design | PairCorr |
0.54 | XOSWW | Xos Equity Warrants | PairCorr |
0.45 | MULN | Mullen Automotive | PairCorr |
0.45 | GV | Visionary Education | PairCorr |
0.63 | DOGZ | Dogness International | PairCorr |
0.59 | PC | Premium Catering | PairCorr |
0.43 | DUOL | Duolingo | PairCorr |
0.31 | VSTA | Vasta Platform | 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Worksport Stock performing well and Worksport 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 Worksport'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
LIDR | 7.61 | 3.77 | 0.58 | (2.48) | 4.04 | 14.85 | 27.62 | |||
LAZR | 4.15 | (0.61) | 0.00 | (0.01) | 0.00 | 10.58 | 27.38 | |||
MOD | 2.30 | 0.05 | 0.10 | 0.26 | 2.80 | 6.57 | 18.74 | |||
QS | 5.17 | 2.02 | 0.31 | 4.57 | 4.53 | 16.69 | 49.40 | |||
DAN | 1.78 | 0.60 | 0.16 | (2.12) | 1.36 | 4.61 | 9.93 | |||
LEA | 1.57 | 0.15 | 0.17 | 0.33 | 1.18 | 4.13 | 8.54 | |||
ALV | 1.15 | 0.22 | 0.18 | 0.43 | 0.85 | 3.21 | 7.73 | |||
CVGI | 5.02 | 0.42 | 0.24 | 0.33 | 4.25 | 12.61 | 23.87 | |||
ADNT | 2.26 | 1.17 | 0.48 | (3.82) | 1.05 | 6.70 | 13.27 |
Worksport Corporate Management
Nilay Choksi | General Counsel | Profile | |
Steven Rossi | President, Chairman | Profile | |
Chris Bernaudo | Chief Officer | Profile | |
Steven Raivio | Executive Sales | Profile |