Ormat Technologies Correlations

ORA Stock

USD 85.67 0.32 0.37%

The current 90-days correlation between Ormat Technologies and Enlight Renewable Energy is 0.5 (i.e., Very weak diversification). The correlation of Ormat 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.

Ormat Technologies Correlation With Market

Very weak diversification

The correlation between Ormat Technologies and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ormat Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ormat Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ormat 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 metropolitan statistical area.

For information on how to trade Ormat Stock refer to our How to Trade Ormat Stock guide.

Moving together with Ormat Stock

0.87	ENLT	Enlight Renewable Energy	Pair Corr
0.61	FLNC	Fluence Energy Buyout Trend	Pair Corr
0.85	BEP	Brookfield Renewable	Pair Corr
0.73	CEG	Constellation Energy Corp	Pair Corr
0.64	RNW	Renew Energy Global	Pair Corr
0.9	BEPC	Brookfield Renewable Corp	Pair Corr
0.79	CWEN	Clearway Energy Class	Pair Corr
0.62	ES	Eversource Energy	Pair Corr
0.86	VG	Venture Global,	Pair Corr
0.77	ELPC	Companhia Paranaense	Pair Corr

Moving against Ormat Stock

0.78	ALCE	Alternus Energy Group	Pair Corr
0.73	CREG	Smart Powerr Corp	Pair Corr
0.66	BNRG	Brenmiller Energy	Pair Corr
0.61	ADNWW	Advent Technologies	Pair Corr
0.59	SUUN	SolarBank Common	Pair Corr
0.46	WAVE	Eco Wave Power	Pair Corr
0.42	ADN	Advent Technologies	Pair Corr
0.42	VGASW	Verde Clean Fuels	Pair Corr
0.63	ED	Consolidated Edison	Pair Corr
0.5	CDZIP	Cadiz Depositary Shares	Pair Corr
0.47	CMS-PB	Consumers Energy	Pair Corr
0.43	SR	Spire Inc	Pair Corr
0.4	WTRG	Essential Utilities	Pair Corr
0.32	AEE	Ameren Corp	Pair Corr
0.31	AEP	American Electric Power	Pair Corr

Related Correlations Analysis

	AMPS	AZRE	ENLT	FLNC	AY	CWEN-A	BEPC	NEP	BEP	CWEN
AMPS		0.0	0.63	0.16	0.0	0.29	0.53	-0.26	0.57	0.29	AMPS
AZRE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AZRE
ENLT	0.63	0.0		0.71	0.0	0.77	0.86	-0.51	0.85	0.76	ENLT
FLNC	0.16	0.0	0.71		0.0	0.69	0.69	-0.3	0.67	0.66	FLNC
AY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AY
CWEN-A	0.29	0.0	0.77	0.69	0.0		0.91	-0.34	0.87	1.0	CWEN-A
BEPC	0.53	0.0	0.86	0.69	0.0	0.91		-0.39	0.99	0.9	BEPC
NEP	-0.26	0.0	-0.51	-0.3	0.0	-0.34	-0.39		-0.32	-0.33	NEP
BEP	0.57	0.0	0.85	0.67	0.0	0.87	0.99	-0.32		0.87	BEP
CWEN	0.29	0.0	0.76	0.66	0.0	1.0	0.9	-0.33	0.87		CWEN
	AMPS	AZRE	ENLT	FLNC	AY	CWEN-A	BEPC	NEP	BEP	CWEN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CWEN	+ 1.0	CWEN-A
BEP	+ 0.99	BEPC
BEPC	+ 0.91	CWEN-A
CWEN	+ 0.9	BEPC
BEP	+ 0.87	CWEN-A
CWEN	+ 0.87	BEP

High negative correlations

NEP	- 0.51	ENLT
NEP	- 0.39	BEPC
NEP	- 0.34	CWEN-A
CWEN	- 0.33	NEP
BEP	- 0.32	NEP
NEP	- 0.3	FLNC

Risk-Adjusted Indicators

There is a big difference between Ormat Stock performing well and Ormat 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 Ormat 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AMPS	1.46	0.40	0.15	(37.01)	1.43	(1.87)	2.96	(3.27)	27.76
AZRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENLT	2.07	0.56	0.22	0.91	2.06	(2.29)	5.08	(3.61)	11.27
FLNC	3.92	0.29	0.07	0.20	4.34	(4.98)	7.77	(9.09)	30.77
AY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWEN-A	1.40	0.11	0.04	0.18	2.39	(1.30)	3.21	(2.65)	11.37
BEPC	1.77	0.16	0.06	0.21	2.34	(1.91)	3.45	(3.42)	13.12
NEP	2.80	(0.89)	0.00	(3.13)	0.00	0.00	4.13	(6.77)	37.72
BEP	1.59	0.11	0.05	0.18	2.17	(1.65)	3.02	(3.04)	12.72
CWEN	1.42	0.09	0.03	0.16	2.33	(1.39)	3.18	(2.60)	11.32

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

2025 Macroaxis LLC