| SOLR Stock | | | CAD 0.04 0.01 33.33% |
The current 90-days correlation between Solar Alliance Energy and Braille Energy Systems is 0.08 (i.e., Significant diversification). The correlation of Solar Alliance 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 Alliance Correlation With Market
Good diversification
The correlation between Solar Alliance Energy and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solar Alliance Energy and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Solar Alliance 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 Alliance 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 Alliance - 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 Alliance Energy to buy it.
Moving together with Solar Stock
Moving against Solar Stock
Related Correlations Analysis
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 |
Risk-Adjusted IndicatorsThere is a big difference between Solar Stock performing well and Solar Alliance 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 Alliance'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Solar Alliance 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.
| | Portfolio ComparatorCompare the composition, asset allocations and performance of any two portfolios in your account |
Solar Alliance Corporate Management
Elected by the shareholders, the Solar Alliance's board of directors comprises two types of representatives: Solar Alliance inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Solar. The board's role is to monitor Solar Alliance's management team and ensure that shareholders' interests are well served. Solar Alliance's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Solar Alliance's outside directors are responsible for providing unbiased perspectives on the board's policies.