Emeren Correlations

SOL Stock

USD 1.87 0.05 2.75%

The current 90-days correlation between Emeren Group and Maxeon Solar Technologies is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Emeren moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Emeren Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Emeren Correlation With Market

Good diversification

The correlation between Emeren Group and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emeren Group and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Emeren Group. 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 Emeren Stock

0.61

RAIL

Freightcar America

Pair Corr

Moving against Emeren Stock

0.76	MPU	Mega Matrix Corp	Pair Corr
0.5	WPRT	Westport Fuel Systems	Pair Corr
0.41	NXT	Nextracker Class A	Pair Corr
0.4	FSTR	LB Foster	Pair Corr
0.52	SMXT	Solarmax Technology	Pair Corr
0.51	AL	Air Lease	Pair Corr
0.51	BE	Bloom Energy Corp	Pair Corr
0.46	SLDPW	Solid Power	Pair Corr
0.46	PITA	Heramba Electric plc	Pair Corr
0.43	G	Genpact Limited	Pair Corr

Related Correlations Analysis

	CSIQ	MAXN	SPWR	SEDG	NOVA	RUN	FSLR	ISUN	JKS
CSIQ		-0.07	0.29	0.45	0.3	0.42	0.65	0.41	0.68	CSIQ
MAXN	-0.07		0.15	0.39	0.3	0.29	0.19	0.22	-0.26	MAXN
SPWR	0.29	0.15		0.82	0.91	0.9	0.77	0.92	-0.38	SPWR
SEDG	0.45	0.39	0.82		0.84	0.94	0.8	0.79	-0.2	SEDG
NOVA	0.3	0.3	0.91	0.84		0.95	0.82	0.89	-0.44	NOVA
RUN	0.42	0.29	0.9	0.94	0.95		0.84	0.85	-0.31	RUN
FSLR	0.65	0.19	0.77	0.8	0.82	0.84		0.88	-0.05	FSLR
ISUN	0.41	0.22	0.92	0.79	0.89	0.85	0.88		-0.26	ISUN
JKS	0.68	-0.26	-0.38	-0.2	-0.44	-0.31	-0.05	-0.26		JKS
	CSIQ	MAXN	SPWR	SEDG	NOVA	RUN	FSLR	ISUN	JKS

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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

RUN	+ 0.95	NOVA
RUN	+ 0.94	SEDG
ISUN	+ 0.92	SPWR
NOVA	+ 0.91	SPWR
RUN	+ 0.9	SPWR
ISUN	+ 0.89	NOVA

High negative correlations

JKS	- 0.44	NOVA
JKS	- 0.38	SPWR
JKS	- 0.31	RUN
JKS	- 0.26	ISUN
JKS	- 0.26	MAXN
JKS	- 0.2	SEDG

Risk-Adjusted Indicators

There is a big difference between Emeren Stock performing well and Emeren 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 Emeren'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
CSIQ	4.27	0.17	0.00	(0.22)	6.22	(3.93)	9.83	(8.50)	35.56
MAXN	8.39	(0.42)	0.00	7.35	0.00	0.00	15.60	(17.22)	59.83
SPWR	8.97	(2.95)	0.00	0.66	0.00	0.00	10.29	(40.08)	75.00
SEDG	4.89	(1.01)	0.00	(1.19)	0.00	0.00	8.54	(10.53)	37.05
NOVA	5.95	(0.15)	0.00	0.17	0.00	0.00	14.57	(9.06)	67.41
RUN	3.54	(0.63)	0.00	0.53	0.00	0.00	6.23	(9.35)	40.96
FSLR	2.62	(0.23)	0.00	(0.53)	0.00	0.00	5.77	(5.97)	25.32
ISUN	11.10	(2.46)	0.00	0.69	0.00	0.00	21.43	(31.26)	178.04
JKS	4.54	0.52	0.05	(1.14)	6.06	(4.88)	9.45	(7.53)	36.24

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