Correlation Between Expro Group and SolarEdge Technologies

Can any of the company-specific risk be diversified away by investing in both Expro Group and SolarEdge Technologies at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Expro Group and SolarEdge Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Expro Group Holdings and SolarEdge Technologies, you can compare the effects of market volatilities on Expro Group and SolarEdge Technologies and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Expro Group with a short position of SolarEdge Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Expro Group and SolarEdge Technologies.

Diversification Opportunities for Expro Group and SolarEdge Technologies

-0.25

Correlation Coefficient

Expro Group  SolarEdge Technologies

Very good diversification

The 3 months correlation between Expro and SolarEdge is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Expro Group Holdings and SolarEdge Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SolarEdge Technologies and Expro Group is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Expro Group Holdings are associated (or correlated) with SolarEdge Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SolarEdge Technologies has no effect on the direction of Expro Group i.e., Expro Group and SolarEdge Technologies go up and down completely randomly.

Pair Corralation between Expro Group and SolarEdge Technologies

Given the investment horizon of 90 days Expro Group Holdings is expected to generate 0.47 times more return on investment than SolarEdge Technologies. However, Expro Group Holdings is 2.13 times less risky than SolarEdge Technologies. It trades about 0.1 of its potential returns per unit of risk. SolarEdge Technologies is currently generating about -0.01 per unit of risk. If you would invest  1,203  in Expro Group Holdings on October 10, 2025 and sell it today you would earn a total of  204.00  from holding Expro Group Holdings or generate 16.96% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Expro Group Holdings  vs.  SolarEdge Technologies

Expro Group Holdings

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Expro Group Holdings are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of very abnormal basic indicators, Expro Group displayed solid returns over the last few months and may actually be approaching a breakup point.

SolarEdge Technologies

Risk-Adjusted Performance

Weakest

Over the last 90 days SolarEdge Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, SolarEdge Technologies is not utilizing all of its potentials. The newest stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Expro Group and SolarEdge Technologies

The main advantage of trading using opposite Expro Group and SolarEdge Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Expro Group position performs unexpectedly, SolarEdge Technologies can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in SolarEdge Technologies will offset losses from the drop in SolarEdge Technologies' long position.

The idea behind Expro Group Holdings and SolarEdge Technologies pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.