SolarBank Common Correlations

SUUN Stock

3.22 1.23 27.64%

The current 90-days correlation between SolarBank Common and Simon Property Group is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SolarBank Common moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SolarBank Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SolarBank Common Correlation With Market

Significant diversification

The correlation between SolarBank Common and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SolarBank Common and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SolarBank Common could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SolarBank Common 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 SolarBank Common - 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 SolarBank Common to buy it.

Moving together with SolarBank OTC Stock

0.69	EBR	Centrais Electricas	Pair Corr
0.77	AMPS	Altus Power	Pair Corr
0.62	ED	Consolidated Edison	Pair Corr
0.77	ES	Eversource Energy	Pair Corr
0.67	HE	Hawaiian Electric	Pair Corr
0.66	NI	NiSource	Pair Corr
0.62	SO	Southern	Pair Corr
0.66	SR	Spire Inc	Pair Corr
0.75	DUKB	Duke Energy Corp	Pair Corr
0.61	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.82	ELPC	Companhia Paranaense	Pair Corr
0.78	ENIC	Enel Chile SA	Pair Corr
0.72	EVRG	Evergy,	Pair Corr

Moving against SolarBank OTC Stock

0.84	XIFR	XPLR Infrastructure Symbol Change	Pair Corr
0.73	FLNC	Fluence Energy	Pair Corr
0.65	NRGV	Energy Vault Holdings	Pair Corr
0.6	HTOO	Fusion Fuel Green	Pair Corr
0.59	HTOOW	Fusion Fuel Green	Pair Corr
0.49	ELLO	Ellomay Capital	Pair Corr
0.47	RNW	Renew Energy Global	Pair Corr
0.47	STEM	Stem Inc	Pair Corr
0.44	RNWWW	ReNew Energy Global	Pair Corr
0.43	WAVE	Eco Wave Power	Pair Corr
0.4	BNRG	Brenmiller Energy	Pair Corr
0.42	AES	AES Aggressive Push	Pair Corr

Related Correlations Analysis

	SPG-PJ	SE	MPX	SONO	BC	PYTCF	MYTE	PLNT
SPG-PJ		-0.05	-0.11	0.0	0.44	-0.05	-0.12	0.31	SPG-PJ
SE	-0.05		-0.24	-0.72	-0.5	-0.2	0.8	-0.26	SE
MPX	-0.11	-0.24		0.49	0.43	0.1	0.12	0.63	MPX
SONO	0.0	-0.72	0.49		0.74	0.18	-0.43	0.43	SONO
BC	0.44	-0.5	0.43	0.74		0.0	-0.18	0.62	BC
PYTCF	-0.05	-0.2	0.1	0.18	0.0		-0.22	-0.01	PYTCF
MYTE	-0.12	0.8	0.12	-0.43	-0.18	-0.22		-0.09	MYTE
PLNT	0.31	-0.26	0.63	0.43	0.62	-0.01	-0.09		PLNT
	SPG-PJ	SE	MPX	SONO	BC	PYTCF	MYTE	PLNT

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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

MYTE	+ 0.8	SE
BC	+ 0.74	SONO
PLNT	+ 0.63	MPX
PLNT	+ 0.62	BC
SONO	+ 0.49	MPX
BC	+ 0.44	SPG-PJ

High negative correlations

SONO	- 0.72	SE
BC	- 0.5	SE
MYTE	- 0.43	SONO
PLNT	- 0.26	SE
MPX	- 0.24	SE
MYTE	- 0.22	PYTCF

Risk-Adjusted Indicators

There is a big difference between SolarBank OTC Stock performing well and SolarBank Common OTC Stock 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 SolarBank Common'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
SPG-PJ	0.72	(0.04)	0.00	(13.68)	0.00	0.00	1.98	(1.60)	5.55
SE	2.07	0.22	0.08	0.13	2.55	(2.11)	4.09	(4.15)	16.75
MPX	1.48	(0.07)	0.00	(0.18)	0.00	0.00	3.06	(2.97)	12.51
SONO	1.77	(0.23)	0.00	(0.26)	0.00	0.00	4.86	(4.13)	14.04
BC	1.54	(0.29)	0.00	(0.29)	0.00	0.00	2.70	(3.55)	9.68
PYTCF	0.34	(0.09)	0.00	0.38	0.00	0.00	0.00	0.00	10.00
MYTE	3.24	0.30	0.09	0.26	3.08	(4.06)	6.87	(5.70)	30.56
PLNT	1.49	0.04	0.03	0.01	2.27	(1.56)	3.05	(2.80)	12.63

SolarBank Common 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 SolarBank Common otc stock to make a market-neutral strategy. Peer analysis of SolarBank Common could also be used in its relative valuation, which is a method of valuing SolarBank Common by comparing valuation metrics with similar companies.

Simon Property Group Sea Marine Products Sonos Inc Brunswick Playtech plc MYT Netherlands Parent Planet Fitness American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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