Emeren Correlations

SOL Stock

USD 1.65 0.04 2.37%

The current 90-days correlation between Emeren Group and Maxeon Solar Technologies is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Emeren moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Emeren Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Emeren Correlation With Market

Modest diversification

The correlation between Emeren Group and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emeren Group 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 Emeren Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Emeren Stock

0.91	VVPR	VivoPower International	Pair Corr
0.73	ENPH	Enphase Energy	Pair Corr
0.91	FSLR	First Solar	Pair Corr
0.83	FTCI	FTC Solar	Pair Corr
0.9	RUN	Sunrun Inc	Pair Corr
0.74	ZEO	Zeo Energy Corp	Pair Corr
0.91	MAXN	Maxeon Solar Technologies Tech Boost	Pair Corr
0.93	NOVA	Sunnova Energy Inter	Pair Corr
0.83	ASTI	Ascent Solar Technol	Pair Corr
0.88	SHLS	Shoals Technologies Tech Boost	Pair Corr
0.85	SPRU	Spruce Power Holding	Pair Corr
0.91	SUNE	SUNation Energy Symbol Change	Pair Corr
0.9	BEEM	Beam Global	Pair Corr
0.74	CSIQ	Canadian Solar Buyout Trend	Pair Corr
0.79	CSLR	Complete Solaria, Common	Pair Corr
0.93	DIOD	Diodes Incorporated	Pair Corr
0.85	DJCO	Daily Journal Corp	Pair Corr
0.79	EB	Eventbrite Class A	Pair Corr
0.93	KN	Knowles Cor	Pair Corr

Moving against Emeren Stock

0.4	SEDG	SolarEdge Technologies	Pair Corr
0.35	NXT	Nextracker Class A	Pair Corr
0.34	CSLRW	Complete Solaria,	Pair Corr
0.78	KC	Kingsoft Cloud Holdings Earnings Call Today	Pair Corr
0.73	G	Genpact Limited	Pair Corr
0.66	JG	Aurora Mobile Tech Boost	Pair Corr
0.58	FI	Fiserv,	Pair Corr
0.46	BB	BlackBerry	Pair Corr
0.4	BR	Broadridge Financial	Pair Corr

Related Correlations Analysis

	CSIQ	MAXN	SPWR	SEDG	NOVA	RUN	FSLR	ISUN	JKS
CSIQ		0.73	0.0	0.15	0.76	0.79	0.74	0.0	0.79	CSIQ
MAXN	0.73		0.0	-0.36	0.95	0.92	0.91	0.0	0.48	MAXN
SPWR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SPWR
SEDG	0.15	-0.36	0.0		-0.4	-0.3	-0.4	0.0	0.33	SEDG
NOVA	0.76	0.95	0.0	-0.4		0.97	0.96	0.0	0.4	NOVA
RUN	0.79	0.92	0.0	-0.3	0.97		0.94	0.0	0.42	RUN
FSLR	0.74	0.91	0.0	-0.4	0.96	0.94		0.0	0.38	FSLR
ISUN	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ISUN
JKS	0.79	0.48	0.0	0.33	0.4	0.42	0.38	0.0		JKS
	CSIQ	MAXN	SPWR	SEDG	NOVA	RUN	FSLR	ISUN	JKS

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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

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

High negative correlations

FSLR	- 0.4	SEDG
NOVA	- 0.4	SEDG
SEDG	- 0.36	MAXN
RUN	- 0.3	SEDG
JKS	- 0.0	ISUN
ISUN	- 0.0	FSLR

Risk-Adjusted Indicators

There is a big difference between Emeren Stock performing well and Emeren 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 Emeren'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
CSIQ	2.81	(0.11)	0.00	0.59	0.00	0.00	6.05	(4.58)	18.46
MAXN	4.60	(0.91)	0.00	1.29	0.00	0.00	12.57	(8.45)	33.53
SPWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEDG	4.24	0.34	0.09	(0.84)	4.84	(5.09)	8.82	(7.34)	30.26
NOVA	6.43	(2.93)	0.00	9.77	0.00	0.00	10.31	(15.69)	81.08
RUN	3.42	(0.61)	0.00	0.71	0.00	0.00	8.75	(8.24)	25.30
FSLR	2.34	(0.56)	0.00	1.52	0.00	0.00	4.50	(5.27)	16.35
ISUN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JKS	2.83	0.06	0.04	0.55	3.31	(3.33)	6.05	(5.52)	15.82

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