Correlation Between Enphase Energy and HF Sinclair
Can any of the company-specific risk be diversified away by investing in both Enphase Energy and HF Sinclair 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 Enphase Energy and HF Sinclair into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Enphase Energy and HF Sinclair Corp, you can compare the effects of market volatilities on Enphase Energy and HF Sinclair 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 Enphase Energy with a short position of HF Sinclair. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enphase Energy and HF Sinclair.
Diversification Opportunities for Enphase Energy and HF Sinclair
-0.52 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Enphase and DINO is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Enphase Energy and HF Sinclair Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HF Sinclair Corp and Enphase Energy 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 Enphase Energy are associated (or correlated) with HF Sinclair. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HF Sinclair Corp has no effect on the direction of Enphase Energy i.e., Enphase Energy and HF Sinclair go up and down completely randomly.
Pair Corralation between Enphase Energy and HF Sinclair
Given the investment horizon of 90 days Enphase Energy is expected to under-perform the HF Sinclair. In addition to that, Enphase Energy is 2.16 times more volatile than HF Sinclair Corp. It trades about -0.08 of its total potential returns per unit of risk. HF Sinclair Corp is currently generating about 0.03 per unit of volatility. If you would invest 5,162 in HF Sinclair Corp on September 2, 2025 and sell it today you would earn a total of 140.00 from holding HF Sinclair Corp or generate 2.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Enphase Energy vs. HF Sinclair Corp
Performance |
| Timeline |
| Enphase Energy |
| HF Sinclair Corp |
Enphase Energy and HF Sinclair Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Enphase Energy and HF Sinclair
The main advantage of trading using opposite Enphase Energy and HF Sinclair positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Enphase Energy position performs unexpectedly, HF Sinclair 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 HF Sinclair will offset losses from the drop in HF Sinclair's long position.| Enphase Energy vs. Gladstone Investment | Enphase Energy vs. Western Asset Investment | Enphase Energy vs. Delaware Investments Florida | Enphase Energy vs. LG Display Co |
| HF Sinclair vs. Computershare Ltd ADR | HF Sinclair vs. CleanGo Innovations | HF Sinclair vs. QKL Stores | HF Sinclair vs. Video Display |
Check out your portfolio center.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 CEOs Directory module to screen CEOs from public companies around the world.
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