Correlation Between Sunrun and Camtek
Can any of the company-specific risk be diversified away by investing in both Sunrun and Camtek 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 Sunrun and Camtek into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sunrun Inc and Camtek, you can compare the effects of market volatilities on Sunrun and Camtek 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 Sunrun with a short position of Camtek. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sunrun and Camtek.
Diversification Opportunities for Sunrun and Camtek
Very weak diversification
The 3 months correlation between Sunrun and Camtek is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Sunrun Inc and Camtek in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Camtek and Sunrun 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 Sunrun Inc are associated (or correlated) with Camtek. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Camtek has no effect on the direction of Sunrun i.e., Sunrun and Camtek go up and down completely randomly.
Pair Corralation between Sunrun and Camtek
Considering the 90-day investment horizon Sunrun Inc is expected to generate 3.31 times more return on investment than Camtek. However, Sunrun is 3.31 times more volatile than Camtek. It trades about 0.19 of its potential returns per unit of risk. Camtek is currently generating about 0.16 per unit of risk. If you would invest 714.00 in Sunrun Inc on May 31, 2025 and sell it today you would earn a total of 923.00 from holding Sunrun Inc or generate 129.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sunrun Inc vs. Camtek
Performance |
| Timeline |
| Sunrun Inc |
| Camtek |
Sunrun and Camtek Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sunrun and Camtek
The main advantage of trading using opposite Sunrun and Camtek positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sunrun position performs unexpectedly, Camtek 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 Camtek will offset losses from the drop in Camtek's long position.| Sunrun vs. Complete Solaria, | Sunrun vs. Enphase Energy | Sunrun vs. First Solar | Sunrun vs. SolarEdge Technologies |
| Camtek vs. Onto Innovation | Camtek vs. Amtech Systems | Camtek vs. Veeco Instruments | Camtek vs. Ichor Holdings |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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