Solid Power, Inc. Class A Common Stock (SLDP) — Stock Correlations & Overview
Over the past year, SLDP has moved most closely with PBW, UPGR, ACES. Explore the stocks most correlated and inversely correlated with SLDP below, along with its price, financials, and company profile.
Stocks correlated with SLDP
Correlation of daily returns. Higher positive values move with SLDP; negative values move opposite it. Informational only, not investment advice.
Most correlated with SLDP
| Symbol | Company | Correlation |
|---|---|---|
| PBW | Invesco WilderHill Clean Energy ETF | 0.68 |
| UPGR | Xtrackers US Green Infrastructure Select Equity ETF | 0.65 |
| ACES | ALPS Clean Energy ETF | 0.64 |
| SLDPW | Solid Power, Inc. WarrantMISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES | 0.62 |
| CNRG | State Street SPDR S&P Kensho Clean Power ETF | 0.62 |
Most inversely correlated with SLDP
| Symbol | Company | Correlation |
|---|---|---|
| SARK | Investment Managers Series Trust II Tradr 1X Short Innovation Daily ETF | -0.54 |
| TZA | Direxion Daily Small Cap Bear 3x ETF | -0.54 |
| TWM | ProShares UltraShort Russell2000 | -0.53 |
| SRTY | ProShares UltraPro Short Russell2000 | -0.53 |
| RWM | ProShares Short Russell2000 | -0.53 |
Frequently asked questions about SLDP correlations
- Which stocks are most correlated with SLDP?
- Based on one year of daily returns, the stocks most correlated with Solid Power, Inc. Class A Common Stock (SLDP) are PBW (0.68), UPGR (0.65) and ACES (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SLDP?
- Over the past year, the stocks most inversely correlated with Solid Power, Inc. Class A Common Stock (SLDP) are SARK (-0.54), TZA (-0.54) and TWM (-0.53). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SLDP correlations calculated?
- We compute the correlation of daily returns between SLDP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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