Shoals Technologies Correlations
| SHLS Stock | USD 4.40 0.01 0.23% |
The current 90-days correlation between Shoals Technologies and Array Technologies is 0.51 (i.e., Very weak diversification). The correlation of Shoals 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Shoals Technologies Correlation With Market
Good diversification
The correlation between Shoals Technologies Group and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shoals Technologies Group and DJI in the same portfolio, assuming nothing else is changed.
Shoals |
Moving together with Shoals Stock
| 0.61 | FSLR | First Solar | PairCorr |
| 0.65 | RUN | Sunrun Inc | PairCorr |
| 0.68 | NOVA | Sunnova Energy Inter | PairCorr |
| 0.66 | BEEM | Beam Global | PairCorr |
Moving against Shoals Stock
| 0.31 | TURB | Turbo Energy, SA | PairCorr |
| 0.67 | SQ | Block Inc Tech Boost | PairCorr |
| 0.66 | BR | Broadridge Financial | PairCorr |
| 0.62 | FI | Fiserv, Sell-off Trend | PairCorr |
| 0.62 | UI | Ubiquiti Networks | PairCorr |
| 0.61 | ZS | Zscaler Earnings Call This Week | PairCorr |
| 0.49 | NN | Nextnav Acquisition Corp | PairCorr |
| 0.4 | JG | Aurora Mobile Trending | PairCorr |
| 0.37 | FN | Fabrinet | PairCorr |
| 0.35 | DQ | Daqo New Energy | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Shoals Stock performing well and Shoals 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 Shoals 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ARRY | 4.41 | 0.09 | (0.01) | (0.07) | 5.41 | 10.60 | 37.94 | |||
| NOVA | 5.65 | (0.79) | 0.00 | 0.59 | 0.00 | 14.31 | 66.13 | |||
| FLNC | 3.01 | 0.29 | 0.03 | (0.31) | 4.12 | 5.49 | 24.63 | |||
| XM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PLTK | 1.24 | 0.14 | 0.10 | 0.23 | 1.19 | 3.06 | 9.23 |
Shoals Technologies Corporate Management
| John Hass | Chief Officer | Profile | |
| Mehgan Peetz | Chief Counsel | Profile | |
| Ben Macias | Chief Officer | Profile | |
| Karen Bazela | Vice Sales | Profile | |
| Dominic Bardos | Chief Officer | Profile | |
| Alex Stucker | Senior Development | Profile | |
| Kirsten Moen | Chief Officer | Profile |