SolarBank Common Correlations

SUUN Stock

1.41 0.02 1.44%

The current 90-days correlation between SolarBank Common and Verde Clean Fuels is 0.14 (i.e., Average 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

Average diversification

The correlation between SolarBank Common and DJI is 0.15 (i.e., Average 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

0.62	ADNWW	Advent Technologies	Pair Corr
0.63	NXXT	NextNRG Symbol Change	Pair Corr
0.81	ALCE	Alternus Energy Group	Pair Corr
0.82	BNRG	Brenmiller Energy	Pair Corr
0.8	ED	Consolidated Edison	Pair Corr

Moving against SolarBank OTC Stock

0.92	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.85	D	Dominion Energy	Pair Corr
0.83	CEG	Constellation Energy Corp	Pair Corr
0.82	BEP	Brookfield Renewable	Pair Corr
0.79	AQN	Algonquin Power Utilities	Pair Corr
0.78	RNW	Renew Energy Global	Pair Corr
0.78	CWEN	Clearway Energy Class	Pair Corr
0.77	BEPC	Brookfield Renewable Corp	Pair Corr
0.75	HTOOW	Fusion Fuel Green	Pair Corr
0.74	ENLT	Enlight Renewable Energy	Pair Corr
0.65	ORA	Ormat Technologies	Pair Corr
0.62	FLNC	Fluence Energy Buyout Trend	Pair Corr
0.61	RNWWW	ReNew Energy Global	Pair Corr
0.47	NRGV	Energy Vault Holdings	Pair Corr
0.36	ELLO	Ellomay Capital	Pair Corr
0.35	BEP-PA	Brookfield Renewable	Pair Corr
0.87	BIP	Brookfield Infrastructure	Pair Corr
0.8	VG	Venture Global,	Pair Corr
0.75	CIG	Companhia Energetica	Pair Corr
0.73	ELPC	Companhia Paranaense	Pair Corr
0.56	HE	Hawaiian Electric	Pair Corr
0.48	ALE	Allete Inc	Pair Corr
0.41	AES	AES Aggressive Push	Pair Corr
0.4	NI	NiSource	Pair Corr
0.4	ENIC	Enel Chile SA Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VGAS	RNWWW	ELLO	WAVE	ENLT	FLNC	ADN	AQN	BEP	CEG
VGAS		0.05	0.2	-0.1	0.2	0.19	-0.19	-0.14	0.0	0.13	VGAS
RNWWW	0.05		0.19	0.08	0.39	0.29	-0.12	0.37	0.43	0.65	RNWWW
ELLO	0.2	0.19		0.56	0.76	0.82	-0.5	0.39	0.5	0.46	ELLO
WAVE	-0.1	0.08	0.56		0.28	0.44	-0.17	0.1	0.1	0.01	WAVE
ENLT	0.2	0.39	0.76	0.28		0.95	-0.49	0.75	0.87	0.8	ENLT
FLNC	0.19	0.29	0.82	0.44	0.95		-0.51	0.67	0.79	0.69	FLNC
ADN	-0.19	-0.12	-0.5	-0.17	-0.49	-0.51		-0.19	-0.47	-0.2	ADN
AQN	-0.14	0.37	0.39	0.1	0.75	0.67	-0.19		0.83	0.77	AQN
BEP	0.0	0.43	0.5	0.1	0.87	0.79	-0.47	0.83		0.83	BEP
CEG	0.13	0.65	0.46	0.01	0.8	0.69	-0.2	0.77	0.83		CEG
	VGAS	RNWWW	ELLO	WAVE	ENLT	FLNC	ADN	AQN	BEP	CEG

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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

FLNC	+ 0.95	ENLT
BEP	+ 0.87	ENLT
BEP	+ 0.83	AQN
CEG	+ 0.83	BEP
FLNC	+ 0.82	ELLO
CEG	+ 0.8	ENLT

High negative correlations

ADN	- 0.51	FLNC
ADN	- 0.5	ELLO
ADN	- 0.49	ENLT
BEP	- 0.47	ADN
CEG	- 0.2	ADN
AQN	- 0.19	ADN

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
VGAS	2.92	(0.31)	0.00	(0.09)	0.00	0.00	6.67	(5.52)	16.85
RNWWW	8.38	1.53	0.12	1.47	7.83	(13.68)	21.43	(14.29)	59.89
ELLO	2.78	0.39	0.08	(1.98)	2.56	(3.52)	7.70	(4.69)	17.24
WAVE	3.75	0.31	0.08	0.38	3.87	(4.07)	6.90	(6.83)	31.85
ENLT	2.10	0.69	0.30	1.03	1.69	(2.54)	5.39	(3.15)	11.27
FLNC	3.97	1.05	0.35	0.63	2.96	(5.23)	9.39	(5.53)	30.77
ADN	4.90	(0.29)	0.00	1.52	0.00	0.00	14.69	(11.42)	54.82
AQN	1.49	0.21	0.06	1.13	1.66	(1.60)	2.30	(3.06)	20.70
BEP	1.41	0.35	0.14	1.56	1.49	(1.54)	3.02	(2.31)	10.09
CEG	2.09	0.55	0.23	0.62	2.03	(2.43)	4.44	(3.22)	14.89

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.

Verde Clean Fuels ReNew Energy Global Ellomay Capital Eco Wave Power Enlight Renewable Energy Fluence Energy Advent Technologies Holdings Algonquin Power Utilities Brookfield Renewable Partners Constellation Energy Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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