Correlation Between Energy Vault and Suburban Propane
Can any of the company-specific risk be diversified away by investing in both Energy Vault and Suburban Propane 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 Energy Vault and Suburban Propane into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Energy Vault Holdings and Suburban Propane Partners, you can compare the effects of market volatilities on Energy Vault and Suburban Propane 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 Energy Vault with a short position of Suburban Propane. Check out your portfolio center. Please also check ongoing floating volatility patterns of Energy Vault and Suburban Propane.
Diversification Opportunities for Energy Vault and Suburban Propane
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Energy and Suburban is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Energy Vault Holdings and Suburban Propane Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suburban Propane Partners and Energy Vault 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 Energy Vault Holdings are associated (or correlated) with Suburban Propane. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suburban Propane Partners has no effect on the direction of Energy Vault i.e., Energy Vault and Suburban Propane go up and down completely randomly.
Pair Corralation between Energy Vault and Suburban Propane
Given the investment horizon of 90 days Energy Vault Holdings is expected to generate 6.28 times more return on investment than Suburban Propane. However, Energy Vault is 6.28 times more volatile than Suburban Propane Partners. It trades about 0.15 of its potential returns per unit of risk. Suburban Propane Partners is currently generating about 0.2 per unit of risk. If you would invest 353.00 in Energy Vault Holdings on September 8, 2025 and sell it today you would earn a total of 73.00 from holding Energy Vault Holdings or generate 20.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Energy Vault Holdings vs. Suburban Propane Partners
Performance |
| Timeline |
| Energy Vault Holdings |
| Suburban Propane Partners |
Energy Vault and Suburban Propane Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Energy Vault and Suburban Propane
The main advantage of trading using opposite Energy Vault and Suburban Propane positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Energy Vault position performs unexpectedly, Suburban Propane 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 Suburban Propane will offset losses from the drop in Suburban Propane's long position.| Energy Vault vs. Gex Management | Energy Vault vs. Integrated Drilling Equipment | Energy Vault vs. BE Semiconductor Industries | Energy Vault vs. Vantage Drilling International |
| Suburban Propane vs. ZhongAn Online P | Suburban Propane vs. Topsports International Holdings | Suburban Propane vs. Quality Online Education | Suburban Propane vs. China Tontine Wines |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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