SUNation Energy Correlations

Stocks . USA . 
Stock . SUNation Energy
SUNE Stock   0.32  0.03  10.34%   
The current 90-days correlation between SUNation Energy and Canlan Ice Sports is -0.04 (i.e., Good diversification). The correlation of SUNation 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.

SUNation Energy Correlation With Market

Good diversification

The correlation between SUNation Energy and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SUNation Energy 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 SUNation 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 board of governors.
For information on how to trade SUNation Stock refer to our How to Trade SUNation Stock guide.

Moving together with SUNation Stock

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  0.71CSLR Complete Solaria, Common Tech BoostPairCorr
  0.74DIOD Diodes IncorporatedPairCorr
  0.84DJCO Daily Journal CorpPairCorr
  0.72BL BlacklinePairCorr
  0.7EB Eventbrite Class APairCorr
  0.86KN Knowles CorPairCorr
  0.84NA Nano Labs Earnings Call This WeekPairCorr

Moving against SUNation Stock

  0.78G Genpact LimitedPairCorr
  0.55TURB Turbo Energy, SAPairCorr
  0.47ZEOWW Zeo Energy Corp Symbol ChangePairCorr
  0.44NXT Nextracker Class A Tech BoostPairCorr
  0.76KC Kingsoft Cloud Holdings Earnings Call This WeekPairCorr
  0.54BR Broadridge FinancialPairCorr
  0.53BB BlackBerryPairCorr
  0.46MQ MarqetaPairCorr
  0.44MX MagnaChip SemiconductorPairCorr
  0.37ML MoneyLionPairCorr

Related Correlations Analysis

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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   
MSN
+ 0.63
CNLFF
IONR
+ 0.61
MSN
NB
+ 0.59
CNLFF
IMTE
+ 0.57
IONR
NB
+ 0.35
MSN
IMTE
+ 0.35
MSN
  
High negative correlations   
MSN
- 0.56
PYTCF
CNLFF
- 0.53
PYTCF
NB
- 0.34
PYTCF
IMTE
- 0.17
NB
IONR
- 0.17
PYTCF
SONO
- 0.14
NB

Risk-Adjusted Indicators

There is a big difference between SUNation Stock performing well and SUNation 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 SUNation 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.

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