Canadian Solar Correlations
| CSIQ Stock | USD 11.05 0.07 0.63% |
The current 90-days correlation between Canadian Solar and SolarEdge Technologies is -0.05 (i.e., Good diversification). The correlation of Canadian Solar 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.
Canadian Solar Correlation With Market
Good diversification
The correlation between Canadian Solar and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canadian Solar and DJI in the same portfolio, assuming nothing else is changed.
Canadian |
Moving together with Canadian Stock
Moving against Canadian Stock
| 0.49 | AIP | Arteris | PairCorr |
| 0.44 | GFS | Globalfoundries Buyout Trend | PairCorr |
| 0.41 | MXL | MaxLinear Buyout Trend | PairCorr |
| 0.41 | TER | Teradyne | PairCorr |
| 0.37 | CVV | CVD Equipment | PairCorr |
| 0.47 | LEDS | SemiLEDS Tech Boost | PairCorr |
| 0.44 | KOPN | Kopin | PairCorr |
| 0.39 | MKSI | MKS Instruments | PairCorr |
| 0.39 | MOBX | Mobix Labs | PairCorr |
| 0.39 | MTSI | MACOM Technology Sol | PairCorr |
| 0.38 | MRVL | Marvell Technology Buyout Trend | PairCorr |
| 0.32 | HIMX | Himax Technologies Tech Boost | PairCorr |
| 0.31 | LAES | SEALSQ Corp | PairCorr |
Related Correlations Analysis
| 0.0 | -0.11 | 0.01 | -0.31 | 0.06 | -0.04 | MAXN | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SPWR | ||
| -0.11 | 0.0 | 0.4 | 0.61 | 0.75 | 0.49 | SEDG | ||
| 0.01 | 0.0 | 0.4 | 0.3 | 0.67 | 0.31 | NOVA | ||
| -0.31 | 0.0 | 0.61 | 0.3 | 0.5 | 0.68 | ENPH | ||
| 0.06 | 0.0 | 0.75 | 0.67 | 0.5 | 0.54 | RUN | ||
| -0.04 | 0.0 | 0.49 | 0.31 | 0.68 | 0.54 | FSLR | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Canadian Stock performing well and Canadian Solar 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 Canadian Solar's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MAXN | 7.76 | 0.70 | 0.08 | (33.37) | 7.83 | 15.60 | 59.83 | |||
| SPWR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SEDG | 5.38 | (0.05) | 0.00 | 0.11 | 0.00 | 11.74 | 31.42 | |||
| NOVA | 6.11 | (0.18) | 0.00 | 0.10 | 0.00 | 14.31 | 65.87 | |||
| ENPH | 3.27 | (0.62) | 0.00 | (1.87) | 0.00 | 5.28 | 21.51 | |||
| RUN | 3.69 | (0.46) | 0.00 | (0.58) | 0.00 | 8.11 | 38.57 | |||
| FSLR | 2.36 | (0.09) | 0.00 | 5.62 | 0.00 | 4.34 | 15.51 |
Canadian Solar Corporate Executives
Elected by the shareholders, the Canadian Solar's board of directors comprises two types of representatives: Canadian Solar inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Canadian. The board's role is to monitor Canadian Solar's management team and ensure that shareholders' interests are well served. Canadian Solar's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Canadian Solar's outside directors are responsible for providing unbiased perspectives on the board's policies.