Sunedison Correlations

SUNE Stock

2.66 0.16 5.67%

The current 90-days correlation between Sunedison and Canlan Ice Sports is -0.11 (i.e., Good diversification). The correlation of Sunedison 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.

Sunedison Correlation With Market

Average diversification

The correlation between Sunedison and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sunedison 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 Sunedison. 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 Sunedison Stock refer to our How to Trade Sunedison Stock guide.

Moving together with Sunedison Stock

0.76	SING	SinglePoint	Pair Corr
0.82	DLPX	Delphax Technologies	Pair Corr
0.71	VEEA	Veea Inc Symbol Change	Pair Corr
0.68	VHAI	VHAI	Pair Corr
0.62	DZSI	DZS Inc	Pair Corr
0.89	EVOL	Evolving Systems	Pair Corr
0.63	SBIGW	SpringBig Holdings	Pair Corr
0.88	FOXX	Foxx Development Holdings Trending	Pair Corr
0.87	VLD	Velo3D Inc	Pair Corr
0.91	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.78	ZPTAW	Zapata Computing Holdings	Pair Corr
0.82	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr

Moving against Sunedison Stock

0.88	CETXP	Cemtrex Pref Earnings Call This Week	Pair Corr
0.8	WEBB	Web Global Holdings	Pair Corr
0.67	WGNR	Wegener	Pair Corr
0.82	INST	Instructure Holdings	Pair Corr
0.75	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.35	ENV	Envestnet	Pair Corr
0.32	DBD	Diebold Nixdorf,	Pair Corr
0.86	CORZZ	Core Scientific, Tranche	Pair Corr
0.79	LTCH	Latch Inc	Pair Corr

Related Correlations Analysis

	CNLFF	PLYA	MAT	LTH	PIUTQ	HAS	DOOO	ANPDY
CNLFF		0.61	0.07	-0.13	0.0	-0.31	-0.7	0.5	CNLFF
PLYA	0.61		0.0	-0.18	0.0	-0.71	-0.86	-0.18	PLYA
MAT	0.07	0.0		-0.43	0.0	-0.02	-0.02	0.15	MAT
LTH	-0.13	-0.18	-0.43		0.0	0.48	0.39	0.09	LTH
PIUTQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PIUTQ
HAS	-0.31	-0.71	-0.02	0.48	0.0		0.8	0.41	HAS
DOOO	-0.7	-0.86	-0.02	0.39	0.0	0.8		0.1	DOOO
ANPDY	0.5	-0.18	0.15	0.09	0.0	0.41	0.1		ANPDY
	CNLFF	PLYA	MAT	LTH	PIUTQ	HAS	DOOO	ANPDY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DOOO	+ 0.8	HAS
PLYA	+ 0.61	CNLFF
ANPDY	+ 0.5	CNLFF
HAS	+ 0.48	LTH
ANPDY	+ 0.41	HAS
DOOO	+ 0.39	LTH

High negative correlations

DOOO	- 0.86	PLYA
HAS	- 0.71	PLYA
DOOO	- 0.7	CNLFF
LTH	- 0.43	MAT
HAS	- 0.31	CNLFF
ANPDY	- 0.18	PLYA

Risk-Adjusted Indicators

There is a big difference between Sunedison Stock performing well and Sunedison 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 Sunedison'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
CNLFF	0.05	0.02	0.00	(1.20)	0.00	0.00	0.00	0.00	1.03
PLYA	1.31	0.42	0.21	2.30	1.05	(1.44)	3.23	(2.00)	9.40
MAT	1.35	0.07	(0.03)	(0.38)	1.82	(1.38)	3.09	(2.31)	11.42
LTH	1.54	(0.14)	(0.05)	0.00	2.15	(1.55)	3.13	(2.62)	13.13
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HAS	0.96	(0.08)	0.00	(0.09)	0.00	0.00	1.97	(1.52)	8.12
DOOO	1.59	(0.19)	0.00	(0.24)	0.00	0.00	3.83	(3.54)	12.05
ANPDY	2.87	0.24	0.05	0.82	3.26	(3.44)	7.53	(5.29)	28.11

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC