Sunrise New Correlations

Stocks . USA . 
Stock . Sunrise New Energy
EPOW Stock  USD 0.85  0.03  3.41%   
The current 90-days correlation between Sunrise New Energy and Chardan NexTech Acquisition is 0.15 (i.e., Average diversification). The correlation of Sunrise New 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.

Sunrise New Correlation With Market

Good diversification

The correlation between Sunrise New Energy and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunrise New Energy and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Sunrise New 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 persons.

Moving together with Sunrise Stock

  0.65FCEL FuelCell Energy TrendingPairCorr
  0.76FLUX Flux Power HoldingsPairCorr
  0.8WBX Wallbox NVPairCorr
  0.74LSCG Lighting SciencePairCorr

Moving against Sunrise Stock

  0.7BE Bloom Energy CorpPairCorr
  0.7EAF GrafTech InternationalPairCorr
  0.7FREY FREYR Battery SAPairCorr
  0.67AYI Acuity BrandsPairCorr
  0.63NVT nVent Electric PLCPairCorr
  0.49ESP Espey Mfg ElectronicsPairCorr
  0.34NVX Novonix Ltd ADRPairCorr
  0.32ELVA Electrovaya Common SharesPairCorr
  0.75VRT Vertiv HoldingsPairCorr
  0.75NEOV NeoVolta Common StockPairCorr
  0.67MVSTW Microvast HoldingsPairCorr
  0.65HAYW Hayward HoldingsPairCorr
  0.63MVST Microvast HoldingsPairCorr
  0.58LTBR Lightbridge Corp Downward RallyPairCorr
  0.57ADSEW ADS TEC ENERGYPairCorr
  0.53STI Solidion Technology Symbol ChangePairCorr
  0.53HUBB HubbellPairCorr
  0.75AMPX Amprius TechnologiesPairCorr
  0.73APWC Asia Pacific WirePairCorr

Related Correlations Analysis

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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   
FCEL
+ 0.78
SLDP
MVST
+ 0.68
FREY
SLDP
+ 0.51
DFLI
ENVX
+ 0.44
PLUG
FCEL
+ 0.4
DFLI
ENVX
+ 0.39
DFLI
  
High negative correlations   
FCEL
- 0.68
FREY
SLDP
- 0.63
FREY
DFLI
- 0.58
FREY
DFLI
- 0.52
MVST
SLDP
- 0.44
MVST
FCEL
- 0.42
MVST

Risk-Adjusted Indicators

There is a big difference between Sunrise Stock performing well and Sunrise New 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 Sunrise New'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.

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