Solar Energy Correlations

SNRY Stock

USD 0.0004 0.0005 55.56%

The correlation of Solar 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Solar Energy Correlation With Market

Modest diversification

The correlation between Solar Energy Initiat and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solar Energy Initiat and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Solar Pink Sheet

0.79	SMTGY	SMA Solar Technology	Pair Corr
0.78	SMTGF	SMA Solar Technology	Pair Corr
0.73	LNDNF	Lundin Energy AB	Pair Corr
0.71	AAUC	Allied Gold	Pair Corr
0.78	GOOGL	Alphabet Class A Sell-off Trend	Pair Corr
0.81	AZTA	Azenta Inc	Pair Corr
0.67	MNRO	Monro Muffler Brake	Pair Corr
0.67	ARR	ARMOUR Residential REIT	Pair Corr
0.63	NAUT	Nautilus Biotechnology	Pair Corr
0.66	TXMD	TherapeuticsMD	Pair Corr
0.76	BORR	Borr Drilling	Pair Corr
0.63	FMSTW	Foremost Lithium Resource	Pair Corr
0.74	TFSL	TFS Financial	Pair Corr

Moving against Solar Pink Sheet

0.67	SEDG	SolarEdge Technologies	Pair Corr
0.56	XISHY	Xinyi Solar Holdings	Pair Corr
0.48	WSNAF	Wesana Health Holdings	Pair Corr
0.46	XNYIF	Xinyi Solar Holdings	Pair Corr
0.39	ENPH	Enphase Energy	Pair Corr
0.53	RYSKF	Reysas Tasimacilik	Pair Corr
0.38	GDC	GD Culture Group Trending	Pair Corr

Related Correlations Analysis

	EXBX	USRI	PMPG	PBAJ	TMEB	WLYW	APWL	TGMR	CIVX	DHCC
EXBX		1.0	0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0	EXBX
USRI	1.0		0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0	USRI
PMPG	0.0	0.0		0.26	0.0	0.36	0.28	0.17	-0.53	0.53	PMPG
PBAJ	0.0	0.0	0.26		0.0	0.66	0.42	0.44	-0.46	-0.24	PBAJ
TMEB	1.0	1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TMEB
WLYW	0.0	0.0	0.36	0.66	0.0		0.63	0.67	-0.41	-0.15	WLYW
APWL	0.0	0.0	0.28	0.42	0.0	0.63		0.23	-0.33	-0.09	APWL
TGMR	0.0	0.0	0.17	0.44	0.0	0.67	0.23		-0.21	-0.12	TGMR
CIVX	0.0	0.0	-0.53	-0.46	0.0	-0.41	-0.33	-0.21		-0.16	CIVX
DHCC	0.0	0.0	0.53	-0.24	0.0	-0.15	-0.09	-0.12	-0.16		DHCC
	EXBX	USRI	PMPG	PBAJ	TMEB	WLYW	APWL	TGMR	CIVX	DHCC

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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

USRI	+ 1.0	EXBX
TMEB	+ 1.0	EXBX
TMEB	+ 1.0	USRI
TGMR	+ 0.67	WLYW
WLYW	+ 0.66	PBAJ
APWL	+ 0.63	WLYW

High negative correlations

CIVX	- 0.53	PMPG
CIVX	- 0.46	PBAJ
CIVX	- 0.41	WLYW
CIVX	- 0.33	APWL
DHCC	- 0.24	PBAJ
CIVX	- 0.21	TGMR

Risk-Adjusted Indicators

There is a big difference between Solar Pink Sheet performing well and Solar 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 Solar 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
EXBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
USRI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PMPG	27.63	10.91	0.00	6.76	0.00	0.00	100.00	(50.00)	571.43
PBAJ	4.48	2.22	0.00	3.54	0.00	0.00	0.00	0.00	150.00
TMEB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WLYW	2.98	1.66	0.00	(0.69)	0.00	0.00	0.00	0.00	100.00
APWL	1.51	0.25	0.00	(3.68)	0.00	0.00	0.00	0.00	50.00
TGMR	7.35	3.09	0.00	(0.63)	0.00	0.00	0.00	0.00	297.23
CIVX	21.03	4.78	0.11	2.59	17.41	(91.67)	50.00	(50.00)	350.00
DHCC	51.37	19.36	0.32	0.59	19.51	(360.67)	33.33	(57.14)	1,326

Be your own money manager

Our tools can tell you how much better you can do entering a position in Solar Energy 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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