Enphase Energy Correlations

E0P Stock

EUR 61.43 2.60 4.42%

The current 90-days correlation between Enphase Energy and Reliance Steel Aluminum is -0.23 (i.e., Very good diversification). The correlation of Enphase Energy 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.

Enphase Energy Correlation With Market

Good diversification

The correlation between Enphase Energy 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 Enphase Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Enphase Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enphase Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enphase Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enphase Energy to buy it.

Moving together with Enphase Stock

0.82	ASMF	ASML HOLDING NY	Pair Corr
0.83	ASME	ASML Holding NV	Pair Corr
0.82	ASME	ASML Holding NV	Pair Corr
0.71	TKY	Tokyo Electron	Pair Corr
0.76	KLA	KLA Corporation	Pair Corr
0.81	TEY	Teradyne	Pair Corr
0.83	AVS	ASM International	Pair Corr
0.88	TG4	Oxurion NV	Pair Corr

Moving against Enphase Stock

0.47	DBPE	Xtrackers LevDAX	Pair Corr
0.4	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	39O1	2DG	TLX	IUI1	RS6	MEL	HEI	RDO
39O1		-0.04	-0.22	-0.14	0.03	-0.07	-0.1	-0.25	39O1
2DG	-0.04		0.34	-0.82	-0.82	-0.86	-0.83	0.63	2DG
TLX	-0.22	0.34		-0.29	-0.2	-0.17	-0.19	0.53	TLX
IUI1	-0.14	-0.82	-0.29		0.9	0.89	0.86	-0.28	IUI1
RS6	0.03	-0.82	-0.2	0.9		0.89	0.93	-0.28	RS6
MEL	-0.07	-0.86	-0.17	0.89	0.89		0.91	-0.35	MEL
HEI	-0.1	-0.83	-0.19	0.86	0.93	0.91		-0.34	HEI
RDO	-0.25	0.63	0.53	-0.28	-0.28	-0.35	-0.34		RDO
	39O1	2DG	TLX	IUI1	RS6	MEL	HEI	RDO

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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

HEI	+ 0.93	RS6
HEI	+ 0.91	MEL
RS6	+ 0.9	IUI1
MEL	+ 0.89	IUI1
MEL	+ 0.89	RS6
HEI	+ 0.86	IUI1

High negative correlations

MEL	- 0.86	2DG
HEI	- 0.83	2DG
RS6	- 0.82	2DG
IUI1	- 0.82	2DG
RDO	- 0.35	MEL
RDO	- 0.34	HEI

Risk-Adjusted Indicators

There is a big difference between Enphase Stock performing well and Enphase Energy 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 Enphase Energy'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
39O1	3.81	0.15	0.03	0.44	3.57	(5.44)	9.64	(5.38)	34.42
2DG	3.73	(1.51)	0.00	(3.78)	0.00	0.00	6.06	(8.33)	52.42
TLX	0.96	0.02	(0.06)	(0.21)	1.13	(1.11)	2.67	(1.64)	7.58
IUI1	1.21	0.22	0.12	1.01	1.08	(1.38)	2.87	(1.96)	10.01
RS6	1.35	0.20	0.09	0.62	1.41	(1.55)	2.94	(2.17)	13.51
MEL	1.04	0.17	0.06	(2.53)	1.08	(1.21)	2.71	(1.78)	6.76
HEI	1.17	0.38	0.23	1.48	0.89	(1.32)	3.29	(1.82)	8.93
RDO	1.40	(0.17)	0.00	0.68	0.00	0.00	3.07	(4.76)	12.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enphase Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Enphase Energy Corporate Management

Elected by the shareholders, the Enphase Energy's board of directors comprises two types of representatives: Enphase Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enphase. The board's role is to monitor Enphase Energy's management team and ensure that shareholders' interests are well served. Enphase Energy'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, Enphase Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Hans Antwerpen	VP Officer	Profile
Ron Swenson	VP Operations	Profile
Martin Fornage	CoFounder	Profile
Raghuveer Belur	CoFounder Officer	Profile

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