Envirotech Vehicles Correlations

EVTV Stock

USD 1.33 0.12 8.28%

The current 90-days correlation between Envirotech Vehicles and Volcon Inc is 0.08 (i.e., Significant diversification). The correlation of Envirotech Vehicles 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.

Envirotech Vehicles Correlation With Market

Significant diversification

The correlation between Envirotech Vehicles and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Envirotech Vehicles and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Envirotech Vehicles. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Envirotech Stock please use our How to Invest in Envirotech Vehicles guide.

Moving together with Envirotech Stock

0.69	VLCN	Volcon Inc	Pair Corr
0.63	ECDA	ECD Automotive Design Symbol Change	Pair Corr
0.7	FLYE	Fly E Group,	Pair Corr
0.78	FOXF	Fox Factory Holding	Pair Corr
0.76	HMC	Honda Motor	Pair Corr
0.78	GOEV	Canoo Inc	Pair Corr
0.62	KNDI	Kandi Technologies	Pair Corr

Moving against Envirotech Stock

0.78	GT	Goodyear Tire Rubber	Pair Corr
0.75	DORM	Dorman Products	Pair Corr
0.57	GM	General Motors	Pair Corr
0.55	WKHS	Workhorse Group	Pair Corr
0.33	ZK	ZEEKR Intelligent	Pair Corr
0.7	MGA	Magna International	Pair Corr
0.65	AXL	American Axle Manufa	Pair Corr
0.57	GTX	Garrett Motion	Pair Corr
0.54	ALV	Autoliv	Pair Corr
0.44	XPEV	Xpeng Inc	Pair Corr
0.43	CPS	Cooper Stnd	Pair Corr
0.33	GNTX	Gentex	Pair Corr
0.32	MOD	Modine Manufacturing	Pair Corr
0.83	TSLA	Tesla Inc Aggressive Push	Pair Corr
0.67	NWTN	NWTN Class B	Pair Corr
0.49	H	Hyatt Hotels	Pair Corr
0.49	M	Macys Inc	Pair Corr
0.45	VFSWW	VinFast Auto	Pair Corr

Related Correlations Analysis

	F	GM	GT	LI	QS	TM	ZK	DORM	VLCN
F		0.63	0.41	-0.19	-0.26	-0.24	0.01	0.47	-0.31	F
GM	0.63		0.71	-0.24	-0.67	-0.27	0.35	0.85	-0.73	GM
GT	0.41	0.71		-0.16	-0.61	-0.06	0.48	0.82	-0.79	GT
LI	-0.19	-0.24	-0.16		0.16	0.16	0.59	-0.39	-0.13	LI
QS	-0.26	-0.67	-0.61	0.16		0.27	-0.37	-0.73	0.74	QS
TM	-0.24	-0.27	-0.06	0.16	0.27		-0.08	-0.17	0.26	TM
ZK	0.01	0.35	0.48	0.59	-0.37	-0.08		0.34	-0.67	ZK
DORM	0.47	0.85	0.82	-0.39	-0.73	-0.17	0.34		-0.74	DORM
VLCN	-0.31	-0.73	-0.79	-0.13	0.74	0.26	-0.67	-0.74		VLCN
	F	GM	GT	LI	QS	TM	ZK	DORM	VLCN

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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

DORM	+ 0.85	GM
DORM	+ 0.82	GT
VLCN	+ 0.74	QS
GT	+ 0.71	GM
GM	+ 0.63	F
ZK	+ 0.59	LI

High negative correlations

VLCN	- 0.79	GT
VLCN	- 0.74	DORM
DORM	- 0.73	QS
VLCN	- 0.73	GM
VLCN	- 0.67	ZK
QS	- 0.67	GM

Risk-Adjusted Indicators

There is a big difference between Envirotech Stock performing well and Envirotech Vehicles 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 Envirotech Vehicles' 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
F	1.40	(0.13)	(0.03)	0.03	2.15	(1.41)	2.53	(2.79)	11.21
GM	1.60	0.17	0.03	1.04	2.28	(1.57)	3.73	(3.54)	18.79
GT	2.31	0.28	0.11	0.34	2.57	(2.50)	4.66	(4.07)	21.26
LI	3.24	0.32	0.05	(10.63)	4.01	(3.56)	7.97	(7.07)	25.86
QS	2.61	(0.03)	0.00	0.21	0.00	0.00	4.65	(4.39)	33.56
TM	1.07	0.01	(0.04)	0.14	1.48	(1.05)	2.69	(2.40)	7.42
ZK	5.04	0.99	0.15	1.62	5.61	(5.76)	13.39	(8.32)	48.52
DORM	1.32	0.32	0.25	0.52	0.81	(1.65)	3.10	(2.03)	14.67
VLCN	5.20	(1.28)	0.00	(0.43)	0.00	0.00	10.43	(15.02)	40.13

Envirotech Vehicles Corporate Management

Christian Rodich	Chief Officer	Profile
Douglas Campoli	Chief Officer	Profile
Richard Ross	Executive America	Profile
Theodore Thordarson	G Mang	Profile

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