Correlation study of EV makers!
When I compare the EV maker stocks, I noticed 2 companies have different behavior in comparison to others and interestingly the have positive correlation to each other while having negative correlation with other EV makers!
These two companies are Fisker (FSR) and Canoo (GOEV). While most EV makers experienced more than 30% price correction in the last 3 weeks, FSR (28.50) is almost 90% above the last 3 weeks close(15.40)!
The important point is everything happens 2-4 weeks sooner in FSR in comparison to Canoo (GOEV). 2-4 wks delayed time cycle!
We should wait and see if such a move is going to happen in GOEV as well, or it is going to follow the EV makers group!
These two companies are Fisker (FSR) and Canoo (GOEV). While most EV makers experienced more than 30% price correction in the last 3 weeks, FSR (28.50) is almost 90% above the last 3 weeks close(15.40)!
The important point is everything happens 2-4 weeks sooner in FSR in comparison to Canoo (GOEV). 2-4 wks delayed time cycle!
We should wait and see if such a move is going to happen in GOEV as well, or it is going to follow the EV makers group!
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