Enphase Energy Correlations

ENPH Stock

USD 61.69 0.62 1.00%

The current 90-days correlation between Enphase Energy and First Solar is 0.46 (i.e., Very weak diversification). The correlation of Enphase 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.

Enphase Energy Correlation With Market

Good diversification

The correlation between Enphase Energy 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 Enphase Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enphase 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 american community survey.

For more detail on how to invest in Enphase Stock please use our How to Invest in Enphase Energy guide.

Moving together with Enphase Stock

0.63	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.61	KE	Kimball Electronics	Pair Corr
0.65	WKEY	Wisekey International	Pair Corr

Moving against Enphase Stock

0.61	LEDS	SemiLEDS Tech Boost	Pair Corr
0.46	MQ	Marqeta Tech Boost	Pair Corr
0.38	HIMX	Himax Technologies	Pair Corr
0.66	ENFN	Enfusion	Pair Corr
0.35	ZS	Zscaler	Pair Corr
0.35	DOCN	DigitalOcean Holdings	Pair Corr

Related Correlations Analysis

	FSLR	RUN	CSIQ	SPWR	SEDG	NOVA	JKS	MAXN
FSLR		0.94	0.74	0.0	-0.42	0.96	0.37	0.91	FSLR
RUN	0.94		0.79	0.0	-0.31	0.97	0.41	0.92	RUN
CSIQ	0.74	0.79		0.0	0.13	0.76	0.78	0.73	CSIQ
SPWR	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SPWR
SEDG	-0.42	-0.31	0.13	0.0		-0.41	0.33	-0.37	SEDG
NOVA	0.96	0.97	0.76	0.0	-0.41		0.4	0.95	NOVA
JKS	0.37	0.41	0.78	0.0	0.33	0.4		0.47	JKS
MAXN	0.91	0.92	0.73	0.0	-0.37	0.95	0.47		MAXN
	FSLR	RUN	CSIQ	SPWR	SEDG	NOVA	JKS	MAXN

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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

NOVA	+ 0.97	RUN
NOVA	+ 0.96	FSLR
MAXN	+ 0.95	NOVA
RUN	+ 0.94	FSLR
MAXN	+ 0.92	RUN
MAXN	+ 0.91	FSLR

High negative correlations

SEDG	- 0.42	FSLR
NOVA	- 0.41	SEDG
MAXN	- 0.37	SEDG
SEDG	- 0.31	RUN
MAXN	- 0.0	SPWR
JKS	- 0.0	SPWR

Risk-Adjusted Indicators

There is a big difference between Enphase Stock performing well and Enphase 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 Enphase 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
FSLR	2.30	(0.60)	0.00	2.34	0.00	0.00	4.50	(5.27)	16.35
RUN	3.40	(0.62)	0.00	0.89	0.00	0.00	8.75	(8.24)	25.30
CSIQ	2.82	(0.16)	0.00	(0.50)	0.00	0.00	6.05	(4.58)	18.46
SPWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEDG	4.24	0.35	0.09	(0.88)	4.84	(5.09)	8.82	(7.34)	30.26
NOVA	7.04	(2.30)	0.00	1.84	0.00	0.00	15.15	(15.69)	81.08
JKS	2.75	(0.07)	0.00	(0.35)	0.00	0.00	5.96	(5.52)	15.73
MAXN	4.40	(1.10)	0.00	1.32	0.00	0.00	10.76	(8.45)	33.53

Enphase Energy Corporate Management

Mary Erginsoy	VP Officer	Profile
Zachary Freedman	Head Relations	Profile
Ron Swenson	Vice Operations	Profile
Martin Fornage	CoFounder	Profile
Karen Sagot	Head Relations	Profile

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