Correlation Between Expion360 and SUNation Energy
Can any of the company-specific risk be diversified away by investing in both Expion360 and SUNation Energy 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 Expion360 and SUNation Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Expion360 and SUNation Energy, you can compare the effects of market volatilities on Expion360 and SUNation Energy 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 Expion360 with a short position of SUNation Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Expion360 and SUNation Energy.
Diversification Opportunities for Expion360 and SUNation Energy
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Expion360 and SUNation is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Expion360 and SUNation Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SUNation Energy and Expion360 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 Expion360 are associated (or correlated) with SUNation Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SUNation Energy has no effect on the direction of Expion360 i.e., Expion360 and SUNation Energy go up and down completely randomly.
Pair Corralation between Expion360 and SUNation Energy
Given the investment horizon of 90 days Expion360 is expected to generate 2.04 times more return on investment than SUNation Energy. However, Expion360 is 2.04 times more volatile than SUNation Energy. It trades about -0.02 of its potential returns per unit of risk. SUNation Energy is currently generating about -0.04 per unit of risk. If you would invest 177.00 in Expion360 on August 16, 2025 and sell it today you would lose (50.00) from holding Expion360 or give up 28.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Expion360 vs. SUNation Energy
Performance |
| Timeline |
| Expion360 |
| SUNation Energy |
Expion360 and SUNation Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Expion360 and SUNation Energy
The main advantage of trading using opposite Expion360 and SUNation Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Expion360 position performs unexpectedly, SUNation Energy 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 SUNation Energy will offset losses from the drop in SUNation Energy's long position.| Expion360 vs. SUNation Energy | Expion360 vs. Addentax Group Corp | Expion360 vs. Urban Gro | Expion360 vs. Powerdyne International |
| SUNation Energy vs. Expion360 | SUNation Energy vs. DEFSEC Technologies | SUNation Energy vs. Erayak Power Solution | SUNation Energy vs. Founder Group Limited |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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