SolarEdge Technologies Correlations

SEDG Stock

USD 17.60 0.40 2.33%

The current 90-days correlation between SolarEdge Technologies and Sunrun Inc is 0.7 (i.e., Poor diversification). The correlation of SolarEdge Technologies 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.

SolarEdge Technologies Correlation With Market

Significant diversification

The correlation between SolarEdge Technologies and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SolarEdge Technologies 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 SolarEdge Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with SolarEdge Stock

0.66	VRSN	VeriSign	Pair Corr
0.61	NOK	Nokia Corp ADR	Pair Corr

Moving against SolarEdge Stock

0.5	VRNT	Verint Systems Earnings Call Today	Pair Corr
0.49	VRNS	Varonis Systems	Pair Corr
0.48	S	SentinelOne	Pair Corr
0.45	EXTR	Extreme Networks	Pair Corr
0.42	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.33	VRAR	Glimpse Group	Pair Corr
0.32	FLEX	Flex	Pair Corr
0.73	MSI	Motorola Solutions	Pair Corr
0.72	TDC	Teradata Corp	Pair Corr
0.68	ZBRA	Zebra Technologies	Pair Corr
0.6	CRM	Salesforce	Pair Corr
0.55	LITE	Lumentum Holdings Buyout Trend	Pair Corr
0.45	NTGR	NETGEAR	Pair Corr
0.42	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.36	PATH	Uipath Inc	Pair Corr
0.34	AVPTW	AvePoint Tech Boost	Pair Corr
0.61	ZCAR	Zoomcar Holdings	Pair Corr
0.6	SLNH	Soluna Holdings	Pair Corr

Related Correlations Analysis

	FSLR	RUN	CSIQ	SPWR	ENPH	NOVA	JKS	MAXN
FSLR		0.94	0.76	0.0	0.78	0.96	0.46	0.88	FSLR
RUN	0.94		0.81	0.0	0.8	0.97	0.47	0.91	RUN
CSIQ	0.76	0.81		0.0	0.79	0.78	0.79	0.74	CSIQ
SPWR	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SPWR
ENPH	0.78	0.8	0.79	0.0		0.79	0.74	0.78	ENPH
NOVA	0.96	0.97	0.78	0.0	0.79		0.48	0.92	NOVA
JKS	0.46	0.47	0.79	0.0	0.74	0.48		0.46	JKS
MAXN	0.88	0.91	0.74	0.0	0.78	0.92	0.46		MAXN
	FSLR	RUN	CSIQ	SPWR	ENPH	NOVA	JKS	MAXN

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

NOVA	+ 0.97	RUN
NOVA	+ 0.96	FSLR
RUN	+ 0.94	FSLR
MAXN	+ 0.92	NOVA
MAXN	+ 0.91	RUN
MAXN	+ 0.88	FSLR

High negative correlations

MAXN	- 0.0	SPWR
JKS	- 0.0	SPWR
NOVA	- 0.0	SPWR
ENPH	- 0.0	SPWR
SPWR	- 0.0	CSIQ
SPWR	- 0.0	RUN

Risk-Adjusted Indicators

There is a big difference between SolarEdge Stock performing well and SolarEdge Technologies 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 SolarEdge Technologies' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FSLR	2.34	(0.55)	(3.93)	4.50	(5.27)	16.35
RUN	3.46	(0.54)	(0.56)	8.75	(8.34)	25.30
CSIQ	2.87	(0.22)	4.65	6.88	(4.68)	18.46
SPWR	0.00	0.00	0.00	0.00	0.00	0.00
ENPH	2.60	(0.15)	(0.42)	5.41	(5.24)	16.37
NOVA	7.49	(2.59)	(1.70)	15.15	(18.92)	81.08
JKS	2.86	(0.31)	1.28	6.05	(6.26)	15.82
MAXN	4.86	(0.36)	(0.39)	12.57	(8.45)	33.53

SolarEdge Technologies Corporate Management

Shuli Ishai	Chief VP	Profile
Ariel Porat	Senior Finance	Profile
Uri Bechor	Chief Officer	Profile
Israel Gershman	Head Technologies	Profile
Asaf CPA	Chief Officer	Profile
John CFA	Head Relations	Profile
Lior Danziger	Director Operations	Profile

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