SUNation Energy Correlations

SUNE Stock

2.59 0.01 0.39%

The current 90-days correlation between SUNation Energy and Analog Devices is 0.12 (i.e., Average diversification). The correlation of SUNation 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.

SUNation Energy Correlation With Market

Significant diversification

The correlation between SUNation Energy and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SUNation Energy 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 SUNation Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade SUNation Stock refer to our How to Trade SUNation Stock guide.

Moving together with SUNation Stock

0.7	SING	SinglePoint	Pair Corr
0.82	DLPX	Delphax Technologies	Pair Corr
0.61	VEEA	Veea Inc Symbol Change	Pair Corr
0.68	VHAI	VHAI	Pair Corr
0.84	EVOL	Evolving Systems	Pair Corr
0.8	FOXX	Foxx Development Holdings	Pair Corr
0.78	GETR	Getaround	Pair Corr
0.72	ZPTAW	Zapata Computing Holdings	Pair Corr
0.72	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr

Moving against SUNation Stock

0.8	WEBB	Web Global Holdings	Pair Corr
0.74	CETXP	Cemtrex Pref	Pair Corr
0.67	EXOD	Exodus Movement, Upward Rally	Pair Corr
0.59	VVPR	VivoPower International	Pair Corr
0.56	WGNR	Wegener	Pair Corr
0.32	EACO	Eaco Corp Earnings Call This Week	Pair Corr
0.83	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.61	VSTEW	Vast Renewables	Pair Corr
0.41	ZENA	ZenaTech	Pair Corr
0.75	MVLA	Movella Holdings	Pair Corr
0.72	LTCH	Latch Inc	Pair Corr

Related Correlations Analysis

	ADI	SUM	CAEN	EVTZF	DNN	VALN	NTGR	CHMN
ADI		-0.68	0.0	0.46	-0.12	0.74	-0.75	0.0	ADI
SUM	-0.68		0.0	-0.48	0.31	-0.78	0.84	0.0	SUM
CAEN	0.0	0.0		0.0	0.0	0.0	0.0	1.0	CAEN
EVTZF	0.46	-0.48	0.0		0.23	0.5	-0.7	0.0	EVTZF
DNN	-0.12	0.31	0.0	0.23		-0.16	-0.05	0.0	DNN
VALN	0.74	-0.78	0.0	0.5	-0.16		-0.84	0.0	VALN
NTGR	-0.75	0.84	0.0	-0.7	-0.05	-0.84		0.0	NTGR
CHMN	0.0	0.0	1.0	0.0	0.0	0.0	0.0		CHMN
	ADI	SUM	CAEN	EVTZF	DNN	VALN	NTGR	CHMN

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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

CHMN	+ 1.0	CAEN
NTGR	+ 0.84	SUM
VALN	+ 0.74	ADI
VALN	+ 0.5	EVTZF
EVTZF	+ 0.46	ADI
DNN	+ 0.31	SUM

High negative correlations

NTGR	- 0.84	VALN
VALN	- 0.78	SUM
NTGR	- 0.75	ADI
NTGR	- 0.7	EVTZF
SUM	- 0.68	ADI
EVTZF	- 0.48	SUM

Risk-Adjusted Indicators

There is a big difference between SUNation Stock performing well and SUNation 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 SUNation 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
ADI	1.27	(0.05)	0.00	0.44	0.00	0.00	2.21	(2.94)	7.03
SUM	1.20	0.46	0.38	1.90	0.59	(1.40)	4.18	(2.22)	9.88
CAEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EVTZF	0.39	(0.06)	0.00	(0.63)	0.00	0.00	2.34	(2.42)	6.15
DNN	2.68	0.21	0.07	2.96	2.67	(3.27)	6.73	(4.37)	18.86
VALN	2.61	(0.28)	0.00	(11.61)	0.00	0.00	4.80	(6.16)	25.53
NTGR	1.89	0.51	0.25	1.59	1.62	(2.25)	4.83	(3.07)	11.27
CHMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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