Enphase Energy Correlations

ENPH Stock

USD 42.27 3.50 7.65%

The current 90-days correlation between Enphase Energy and Sunrun Inc is 0.54 (i.e., Very weak 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

Very poor diversification

The correlation between Enphase Energy and DJI is 0.81 (i.e., Very poor 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.

Build AI portfolio with Enphase Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enphase Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in Enphase Stock please use our How to Invest in Enphase Energy guide.

Moving together with Enphase Stock

0.88	DIOD	Diodes Incorporated	Pair Corr
0.8	AIX2	AIXTRON SE	Pair Corr
0.83	MU	Micron Technology	Pair Corr
0.89	ON	ON Semiconductor	Pair Corr
0.64	AMK	Amkor Technology	Pair Corr
0.8	ASM	ASM International Earnings Call This Week	Pair Corr
0.85	ALKAL	Kalray SA	Pair Corr
0.71	TWA	TOWA	Pair Corr
0.93	KU1	Kulicke and Soffa	Pair Corr
0.72	8KH	TOREX SEMICONDUCTOR LTD	Pair Corr
0.94	TEY	Teradyne	Pair Corr
0.71	CTNK	Centrotherm International	Pair Corr
0.9	ANL	Analog Devices	Pair Corr
0.89	ENTG	Entegris	Pair Corr
0.64	WAF	Siltronic AG	Pair Corr
0.78	ROM	ROHM Co	Pair Corr
0.88	2DQ	ASE TECHNHLDGCOLTD	Pair Corr
0.84	ASME	ASML Holding NV	Pair Corr
0.81	AIXA	AIXTRON SE	Pair Corr
0.84	ASMF	ASML HOLDING NY	Pair Corr
0.8	BSI	BE Semiconductor Ind	Pair Corr
0.75	UMCB	United Microelectronics	Pair Corr

Moving against Enphase Stock

0.77	DQ	Daqo New Energy	Pair Corr
0.69	L5A	Canadian Solar	Pair Corr
0.67	PI	Impinj Inc	Pair Corr
0.5	NA	Nano Labs	Pair Corr
0.4	CV3	Carpevigo Holding	Pair Corr
0.67	2DG	SIVERS SEMICONDUCTORS	Pair Corr
0.66	5PZ	SOLTEC POWER HOLD Split	Pair Corr
0.39	WOLF	Wolfspeed Aggressive Push	Pair Corr
0.52	XFB	X Fab Silicon	Pair Corr

Related Correlations Analysis

	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG	AROC
RUN		-0.3	-0.01	0.29	0.25	0.18	0.3	0.11	0.27	0.14	RUN
CVI	-0.3		-0.05	-0.53	-0.5	-0.38	-0.44	-0.05	-0.53	-0.54	CVI
MUR	-0.01	-0.05		0.36	0.33	0.47	0.29	0.24	0.38	0.21	MUR
VVV	0.29	-0.53	0.36		0.95	0.91	0.94	0.66	0.95	0.79	VVV
CRC	0.25	-0.5	0.33	0.95		0.9	0.98	0.71	0.96	0.82	CRC
VAL	0.18	-0.38	0.47	0.91	0.9		0.87	0.6	0.96	0.78	VAL
MGY	0.3	-0.44	0.29	0.94	0.98	0.87		0.75	0.94	0.79	MGY
PBF	0.11	-0.05	0.24	0.66	0.71	0.6	0.75		0.64	0.7	PBF
RIG	0.27	-0.53	0.38	0.95	0.96	0.96	0.94	0.64		0.84	RIG
AROC	0.14	-0.54	0.21	0.79	0.82	0.78	0.79	0.7	0.84		AROC
	RUN	CVI	MUR	VVV	CRC	VAL	MGY	PBF	RIG	AROC

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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

MGY	+ 0.98	CRC
RIG	+ 0.96	CRC
RIG	+ 0.96	VAL
CRC	+ 0.95	VVV
RIG	+ 0.95	VVV
MGY	+ 0.94	VVV

High negative correlations

AROC	- 0.54	CVI
RIG	- 0.53	CVI
VVV	- 0.53	CVI
CRC	- 0.5	CVI
MGY	- 0.44	CVI
VAL	- 0.38	CVI

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
RUN	4.08	(0.54)	0.00	(0.07)	0.00	0.00	6.13	(7.90)	20.73
CVI	2.25	(0.56)	0.00	(0.69)	0.00	0.00	3.98	(4.46)	19.04
MUR	2.33	0.08	0.03	0.14	2.90	(2.51)	4.82	(4.16)	19.82
VVV	1.53	0.22	0.13	0.31	1.41	(1.68)	3.83	(2.86)	10.00
CRC	1.60	0.35	0.16	0.75	1.55	(1.78)	3.61	(3.17)	8.47
VAL	2.80	0.87	0.29	0.71	2.30	(3.25)	7.22	(6.28)	41.60
MGY	1.42	0.30	0.14	1.47	1.48	(1.54)	3.08	(2.91)	8.43
PBF	2.47	0.06	0.00	0.24	3.18	(2.65)	5.20	(5.33)	19.71
RIG	2.34	0.71	0.23	0.62	2.39	(2.62)	7.67	(4.73)	16.41
AROC	1.29	0.28	0.10	(0.45)	1.38	(1.43)	2.68	(2.44)	6.67

Enphase Energy Corporate Management

Mary Erginsoy	VP Officer	Profile
Zachary Freedman	Head Relations	Profile
Ron Swenson	Vice Operations	Profile
Martin Fornage	CoFounder	Profile
Karen Sagot	Head Relations	Profile

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