Hyliion Holdings Correlations

HYLN Stock

USD 3.69 0.02 0.54%

The current 90-days correlation between Hyliion Holdings Corp and Aeva Technologies is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hyliion Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyliion Holdings Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hyliion Holdings Correlation With Market

Very weak diversification

The correlation between Hyliion Holdings Corp and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hyliion Holdings Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hyliion Holdings Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Hyliion Stock

0.84	BBU	Brookfield Business	Pair Corr
0.8	GBX	Greenbrier Companies	Pair Corr
0.85	GFF	Griffon	Pair Corr
0.85	FSTR	LB Foster	Pair Corr
0.79	HON	Honeywell International	Pair Corr
0.77	MLR	Miller Industries	Pair Corr
0.82	TRN	Trinity Industries	Pair Corr
0.82	VMI	Valmont Industries	Pair Corr
0.84	WAB	Westinghouse Air Brake	Pair Corr
0.84	CRESW	Cresud SACIF y	Pair Corr
0.83	ALSN	Allison Transmission	Pair Corr
0.73	IP	International Paper	Pair Corr
0.76	SW	Smurfit WestRock plc	Pair Corr

Moving against Hyliion Stock

0.76	RUN	Sunrun Inc Sell-off Trend	Pair Corr
0.63	PITA	Heramba Electric plc	Pair Corr
0.61	SLDPW	Solid Power	Pair Corr
0.57	EFSH	1847 Holdings LLC	Pair Corr
0.55	WPRT	Westport Fuel Systems	Pair Corr
0.47	ZEO	Zeo Energy Corp Symbol Change	Pair Corr
0.36	FBYD	Falcons Beyond Global,	Pair Corr
0.35	FBYDW	Falcons Beyond Global,	Pair Corr
0.83	EBET	Ebet Inc	Pair Corr
0.78	CVGI	Commercial Vehicle	Pair Corr
0.66	BEEM	Beam Global	Pair Corr
0.64	SLDP	Solid Power	Pair Corr
0.55	SHLS	Shoals Technologies Tech Boost	Pair Corr
0.55	F-PC	Ford Motor Potential Growth	Pair Corr
0.52	F-PB	Ford Motor	Pair Corr
0.35	PLOW	Douglas Dynamics	Pair Corr

Related Correlations Analysis

	QS	MBLY	INVZ	AEVA	LAZR	WPRT	FRSX	AXL	GNTX	LIDR
QS		-0.65	0.52	-0.45	-0.02	0.45	0.57	-0.27	-0.13	0.44	QS
MBLY	-0.65		-0.4	0.67	-0.15	-0.38	-0.53	0.71	0.48	-0.44	MBLY
INVZ	0.52	-0.4		0.02	-0.12	-0.1	0.08	-0.04	-0.34	0.57	INVZ
AEVA	-0.45	0.67	0.02		-0.21	-0.69	-0.71	0.53	0.45	-0.06	AEVA
LAZR	-0.02	-0.15	-0.12	-0.21		0.08	0.27	0.04	0.14	0.39	LAZR
WPRT	0.45	-0.38	-0.1	-0.69	0.08		0.86	-0.14	-0.04	0.17	WPRT
FRSX	0.57	-0.53	0.08	-0.71	0.27	0.86		-0.15	-0.04	0.31	FRSX
AXL	-0.27	0.71	-0.04	0.53	0.04	-0.14	-0.15		0.43	0.01	AXL
GNTX	-0.13	0.48	-0.34	0.45	0.14	-0.04	-0.04	0.43		-0.05	GNTX
LIDR	0.44	-0.44	0.57	-0.06	0.39	0.17	0.31	0.01	-0.05		LIDR
	QS	MBLY	INVZ	AEVA	LAZR	WPRT	FRSX	AXL	GNTX	LIDR

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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

FRSX	+ 0.86	WPRT
AXL	+ 0.71	MBLY
AEVA	+ 0.67	MBLY
FRSX	+ 0.57	QS
LIDR	+ 0.57	INVZ
AXL	+ 0.53	AEVA

High negative correlations

FRSX	- 0.71	AEVA
WPRT	- 0.69	AEVA
MBLY	- 0.65	QS
FRSX	- 0.53	MBLY
AEVA	- 0.45	QS
LIDR	- 0.44	MBLY

Risk-Adjusted Indicators

There is a big difference between Hyliion Stock performing well and Hyliion Holdings 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 Hyliion Holdings' 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
QS	2.54	(0.16)	0.00	(0.06)	0.00	0.00	3.88	(4.77)	33.56
MBLY	3.84	0.22	0.09	0.21	4.19	(4.28)	10.51	(7.27)	25.50
INVZ	4.21	0.08	0.08	0.15	3.75	(6.26)	12.24	(6.25)	31.64
AEVA	4.05	0.20	0.12	0.18	4.27	(4.71)	9.38	(6.69)	22.60
LAZR	5.25	(1.01)	0.00	(0.16)	0.00	0.00	12.23	(11.57)	33.67
WPRT	1.55	(0.33)	0.00	(2.45)	0.00	0.00	2.74	(2.92)	9.20
FRSX	2.62	(0.33)	0.00	(0.63)	0.00	0.00	6.06	(4.62)	12.75
AXL	2.02	(0.20)	(0.03)	0.03	2.20	(2.23)	5.00	(3.27)	12.38
GNTX	1.13	(0.10)	(0.09)	(0.01)	1.43	(1.17)	2.24	(2.36)	7.93
LIDR	3.16	(0.26)	0.00	(0.08)	0.00	0.00	7.55	(5.74)	17.33

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