First Solar Correlations

FSLR Stock

USD 231.85 5.94 2.50%

The current 90-days correlation between First Solar and Pembina Pipeline Corp is -0.13 (i.e., Good diversification). The correlation of First Solar 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. If the correlation is 0, the equities are not correlated; they are entirely random.

First Solar Correlation With Market

Good diversification

The correlation between First Solar and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Solar and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Solar. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

To learn how to invest in First Stock, please use our How to Invest in First Solar guide.

Moving together with First Stock

0.88	NDEKY	Nitto Denko Corp	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.72	AXP	American Express	Pair Corr
0.88	INTC	Intel	Pair Corr
0.8	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.61	WMT	Walmart	Pair Corr

Moving against First Stock

0.63	NFPDF	Nissin Foods Holdings	Pair Corr
0.63	BA	Boeing	Pair Corr
0.62	KO	Coca Cola Earnings Call This Week	Pair Corr
0.44	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.32	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PBA	CQP	VG	NXT	EXE	WDS	DVN	TPL	HAL
PBA		-0.33	0.0	0.67	0.72	-0.71	0.48	0.22	0.83	PBA
CQP	-0.33		0.59	-0.62	-0.07	0.67	0.17	0.24	-0.04	CQP
VG	0.0	0.59		-0.61	0.05	0.42	0.29	0.41	0.2	VG
NXT	0.67	-0.62	-0.61		0.51	-0.83	0.15	0.13	0.55	NXT
EXE	0.72	-0.07	0.05	0.51		-0.67	0.18	0.45	0.77	EXE
WDS	-0.71	0.67	0.42	-0.83	-0.67		0.12	-0.15	-0.51	WDS
DVN	0.48	0.17	0.29	0.15	0.18	0.12		0.08	0.63	DVN
TPL	0.22	0.24	0.41	0.13	0.45	-0.15	0.08		0.46	TPL
HAL	0.83	-0.04	0.2	0.55	0.77	-0.51	0.63	0.46		HAL
	PBA	CQP	VG	NXT	EXE	WDS	DVN	TPL	HAL

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

HAL	+ 0.83	PBA
HAL	+ 0.77	EXE
EXE	+ 0.72	PBA
NXT	+ 0.67	PBA
WDS	+ 0.67	CQP
HAL	+ 0.63	DVN

High negative correlations

WDS	- 0.83	NXT
WDS	- 0.71	PBA
WDS	- 0.67	EXE
NXT	- 0.62	CQP
NXT	- 0.61	VG
HAL	- 0.51	WDS

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Solar 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 First Solar'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
PBA	0.84	0.06	0.01	0.35	1.21	(0.82)	1.81	(1.69)	8.77
CQP	1.04	(0.03)	0.00	0.46	0.00	0.00	2.07	(2.29)	7.00
VG	2.81	(0.81)	0.00	(0.36)	0.00	0.00	5.12	(7.53)	36.80
NXT	2.58	0.60	0.18	(2.42)	2.84	(3.12)	7.10	(4.29)	19.99
EXE	1.22	0.05	0.00	2.21	1.47	(1.38)	2.36	(2.48)	9.31
WDS	1.14	(0.11)	0.00	0.95	0.00	0.00	2.09	(3.45)	8.40
DVN	1.47	(0.02)	0.00	(0.06)	0.00	0.00	3.49	(3.24)	9.13
TPL	1.89	(0.04)	0.00	(0.07)	0.00	0.00	3.56	(4.18)	12.85
HAL	1.54	0.08	0.02	0.23	1.97	(1.63)	3.91	(2.97)	13.45

First Solar Corporate Management

Jason Dymbort	General VP	Profile
Nathan Theurer	Global VP	Profile
Mitchell Ennis	Ma Relations	Profile
Caroline Stockdale	Chief Officer	Profile
Kuntal Verma	Chief Officer	Profile
Byron Jeffers	Chief Accounting Officer	Profile
Patrick Buehler	Chief Officer	Profile

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