SunPower Stock Forecast - Mean Deviation
SunPower Stock Forecast is based on your current time horizon.
SunPower |
| Check SunPower Volatility | Backtest SunPower | Information Ratio |
SunPower Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SunPower stock to make a market-neutral strategy. Peer analysis of SunPower could also be used in its relative valuation, which is a method of valuing SunPower by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
SunPower Risk Indicators
The analysis of SunPower's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in SunPower's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting sunpower stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 8.97 | |||
| Standard Deviation | 13.76 | |||
| Variance | 189.26 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with SunPower
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if SunPower position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in SunPower will appreciate offsetting losses from the drop in the long position's value.Moving against SunPower Stock
| 0.9 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.88 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.88 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.82 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.79 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
The ability to find closely correlated positions to SunPower could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SunPower 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 SunPower - 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 SunPower to buy it.
The correlation of SunPower 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SunPower moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SunPower moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for SunPower can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Consideration for investing in SunPower Stock
If you are still planning to invest in SunPower check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the SunPower's history and understand the potential risks before investing.
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