SMA Solar Correlations

SMTGF Stock

USD 16.06 0.00 0.00%

The current 90-days correlation between SMA Solar Technology and Sunrun Inc is 0.05 (i.e., Significant diversification). The correlation of SMA Solar 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.

SMA Solar Correlation With Market

Significant diversification

The correlation between SMA Solar Technology and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SMA Solar Technology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SMA Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SMA Solar 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 SMA Solar - 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 SMA Solar Technology to buy it.

Moving together with SMA Pink Sheet

0.66

SMTGY

SMA Solar Technology

Pair Corr

Moving against SMA Pink Sheet

0.63	SF	Stifel Financial Earnings Call Today	Pair Corr
0.62	TRGP	Targa Resources	Pair Corr
0.61	MGNI	Magnite	Pair Corr
0.6	XPO	XPO Logistics	Pair Corr
0.56	DUOL	Duolingo	Pair Corr
0.52	FTNT	Fortinet	Pair Corr
0.46	LNG	Cheniere Energy	Pair Corr
0.45	EXEEW	Expand Energy Symbol Change	Pair Corr
0.42	HES	Hess Earnings Call This Week	Pair Corr
0.34	OPFI	OppFi Inc Buyout Trend	Pair Corr

Related Correlations Analysis

	XISHY	XNYIF	RUN	SMTGY	GCPEF	VSOLF	SHLS	ENPH	FSLR	CSIQ
XISHY		0.53	0.72	0.6	0.45	0.67	0.15	0.51	0.63	0.78	XISHY
XNYIF	0.53		0.45	0.31	0.32	0.3	-0.16	0.47	0.61	0.46	XNYIF
RUN	0.72	0.45		0.55	0.08	0.81	0.27	0.89	0.73	0.79	RUN
SMTGY	0.6	0.31	0.55		-0.05	0.51	0.28	0.54	0.39	0.48	SMTGY
GCPEF	0.45	0.32	0.08	-0.05		0.15	-0.2	-0.06	0.19	0.27	GCPEF
VSOLF	0.67	0.3	0.81	0.51	0.15		0.14	0.67	0.47	0.52	VSOLF
SHLS	0.15	-0.16	0.27	0.28	-0.2	0.14		0.24	0.09	0.45	SHLS
ENPH	0.51	0.47	0.89	0.54	-0.06	0.67	0.24		0.67	0.65	ENPH
FSLR	0.63	0.61	0.73	0.39	0.19	0.47	0.09	0.67		0.73	FSLR
CSIQ	0.78	0.46	0.79	0.48	0.27	0.52	0.45	0.65	0.73		CSIQ
	XISHY	XNYIF	RUN	SMTGY	GCPEF	VSOLF	SHLS	ENPH	FSLR	CSIQ

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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

ENPH	+ 0.89	RUN
VSOLF	+ 0.81	RUN
CSIQ	+ 0.79	RUN
CSIQ	+ 0.78	XISHY
FSLR	+ 0.73	RUN
CSIQ	+ 0.73	FSLR

High negative correlations

SHLS	- 0.2	GCPEF
SHLS	- 0.16	XNYIF
ENPH	- 0.06	GCPEF
GCPEF	- 0.05	SMTGY

Risk-Adjusted Indicators

There is a big difference between SMA Pink Sheet performing well and SMA Solar 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 SMA Solar'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
XISHY	2.52	(0.05)	0.00	(0.48)	0.00	0.00	5.62	(5.29)	22.22
XNYIF	1.72	0.10	0.01	(0.19)	3.15	(10.59)	9.30	(2.44)	26.45
RUN	3.66	(0.60)	0.00	(0.82)	0.00	0.00	8.11	(9.05)	38.57
SMTGY	3.08	(0.08)	0.00	(0.18)	0.00	0.00	8.00	(6.83)	26.09
GCPEF	4.06	0.18	0.01	(0.08)	7.75	(15.12)	11.11	(18.75)	73.57
VSOLF	8.72	(2.69)	0.00	0.98	0.00	0.00	6.81	(35.18)	171.92
SHLS	3.83	0.03	0.00	0.00	5.57	(4.37)	9.40	(6.58)	38.06
ENPH	3.13	(0.50)	0.00	(1.11)	0.00	0.00	5.28	(6.36)	21.51
FSLR	2.38	(0.11)	0.00	1.37	0.00	0.00	4.34	(4.58)	15.51
CSIQ	3.78	(0.11)	0.00	(0.42)	0.00	0.00	8.27	(7.84)	35.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in SMA Solar 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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SMA Solar Corporate Management

Jurgen Reinert	Head CEO	Profile
Thomas Pixa	CFO Board	Profile
Volker Wachenfeld	VP Integration	Profile
Julia Damm	Ma Relations	Profile
Marko Werner	Ex Sales	Profile
Volker Wasgindt	Head Affairs	Profile
Anja Jasper	Head Communications	Profile

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