SolarEdge Technologies Correlations

SEDG Stock

USD 35.90 1.49 4.33%

The current 90-days correlation between SolarEdge Technologies and Shoals Technologies Group is -0.3 (i.e., Very good diversification). The correlation of SolarEdge Technologies 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.

SolarEdge Technologies Correlation With Market

Very good diversification

The correlation between SolarEdge Technologies and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SolarEdge Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SolarEdge Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SolarEdge Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

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

Moving against SolarEdge Stock

0.69	PPERF	Bank Mandiri Persero	Pair Corr
0.65	PPERY	Bank Mandiri Persero	Pair Corr
0.62	CNOB	ConnectOne Bancorp Earnings Call This Week	Pair Corr
0.6	BKKLY	Bangkok Bank PCL	Pair Corr
0.5	WF	Woori Financial Group	Pair Corr
0.37	AMAT	Applied Materials	Pair Corr
0.34	MARUF	Marubeni	Pair Corr
0.56	MRK	Merck Company Earnings Call This Week	Pair Corr
0.56	JNJ	Johnson Johnson	Pair Corr
0.43	TRV	The Travelers Companies	Pair Corr
0.42	AA	Alcoa Corp Downward Rally	Pair Corr
0.41	AXP	American Express Earnings Call This Week	Pair Corr
0.38	DCI	Donaldson	Pair Corr
0.37	YASKY	Yaskawa Electric Corp	Pair Corr
0.37	DD	Dupont De Nemours	Pair Corr
0.34	CAT	Caterpillar Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SHLS	CSIQ	CSAN	GEL	SDRL	ARRY	METC	BTE	CLMT	IMSR
SHLS		-0.61	-0.33	0.24	0.08	0.43	0.79	-0.68	0.36	0.7	SHLS
CSIQ	-0.61		0.35	-0.17	-0.21	-0.3	-0.63	0.42	-0.39	-0.52	CSIQ
CSAN	-0.33	0.35		-0.27	-0.55	-0.65	-0.02	-0.24	-0.47	0.25	CSAN
GEL	0.24	-0.17	-0.27		0.57	0.56	0.14	0.19	0.61	0.06	GEL
SDRL	0.08	-0.21	-0.55	0.57		0.71	-0.04	0.53	0.76	-0.3	SDRL
ARRY	0.43	-0.3	-0.65	0.56	0.71		0.21	0.15	0.75	-0.09	ARRY
METC	0.79	-0.63	-0.02	0.14	-0.04	0.21		-0.73	0.09	0.89	METC
BTE	-0.68	0.42	-0.24	0.19	0.53	0.15	-0.73		0.17	-0.82	BTE
CLMT	0.36	-0.39	-0.47	0.61	0.76	0.75	0.09	0.17		-0.07	CLMT
IMSR	0.7	-0.52	0.25	0.06	-0.3	-0.09	0.89	-0.82	-0.07		IMSR
	SHLS	CSIQ	CSAN	GEL	SDRL	ARRY	METC	BTE	CLMT	IMSR

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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

IMSR	+ 0.89	METC
METC	+ 0.79	SHLS
CLMT	+ 0.76	SDRL
CLMT	+ 0.75	ARRY
ARRY	+ 0.71	SDRL
IMSR	+ 0.7	SHLS

High negative correlations

IMSR	- 0.82	BTE
BTE	- 0.73	METC
BTE	- 0.68	SHLS
ARRY	- 0.65	CSAN
METC	- 0.63	CSIQ
CSIQ	- 0.61	SHLS

Risk-Adjusted Indicators

There is a big difference between SolarEdge Stock performing well and SolarEdge Technologies 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 SolarEdge Technologies' 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
SHLS	3.24	(0.09)	0.00	0.31	0.00	0.00	6.74	(7.72)	19.23
CSIQ	5.39	0.92	0.11	(1.53)	6.59	(5.50)	13.80	(11.80)	36.09
CSAN	2.33	(0.10)	(0.02)	0.00	3.17	(2.42)	5.52	(6.29)	18.30
GEL	1.65	0.13	0.05	0.37	1.65	(1.87)	3.56	(2.69)	8.17
SDRL	2.01	0.40	0.15	0.60	2.13	(2.22)	4.85	(3.76)	14.86
ARRY	3.75	0.21	0.07	0.14	4.28	(4.06)	7.63	(7.21)	17.92
METC	4.80	(0.85)	0.00	(0.75)	0.00	0.00	8.55	(9.90)	17.20
BTE	2.26	0.66	0.24	6.05	1.98	(2.73)	5.49	(3.03)	19.69
CLMT	1.24	0.20	0.09	0.80	1.38	(1.32)	2.71	(1.99)	9.21
IMSR	6.71	(0.41)	0.00	0.30	0.00	0.00	13.69	(12.58)	41.11

SolarEdge Technologies Corporate Management

Shuli Ishai	Chief VP	Profile
Ariel Porat	Senior Finance	Profile
Uri Bechor	Chief Officer	Profile
Israel Gershman	Head Technologies	Profile
Asaf CPA	Chief Officer	Profile
John CFA	Head Relations	Profile
Lior Danziger	Director Operations	Profile

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