Investment research on quoted companies and funds

Hardman & Co

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Research from Hardman & Co, Hardman & Co

Research from Hardman & Co

Equity Bottom-Up

<ul>
<li>In this report we review Volta’s volatility during recent “crisis” periods (2025 tariff uncertainty, Russia’s 2022 invasion of Ukraine, early COVID-19 experience).</li>
<li>In one of these events, Volta’s share price showed more volatility than that of equity markets, in one it was broadly in line, and in one it displayed less volatility.</li>
<li>There is insufficient evidence to say Volta is more or less volatile than equity markets in risk-off periods, which may come as a surprise to some investors.</li>
</ul>


In this report we review Volta’s volatility during recent “crisis” periods (2025 tariff uncertainty, Russia’s 2022 invasion of Ukraine, early COVID-19 experience).
In one of these events, Volta’s share price showed more volatility than that of equity markets, in one it was broadly in line, and in one it displayed less volatility.
There is insufficient evidence to say Volta is more or less volatile than equity markets in risk-off periods, which may come as a surprise to some investors.


Volta Finance Limited (VTAS): ボラティリティを文脈に沿って考察