Array Technologies Correlations

ARRY Stock

USD 7.10 0.21 3.05%

The current 90-days correlation between Array Technologies and Shoals Technologies Group is 0.53 (i.e., Very weak diversification). The correlation of Array Technologies 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.

Array Technologies Correlation With Market

Average diversification

The correlation between Array Technologies and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Array Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Array Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Array Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more information on how to buy Array Stock please use our How to Invest in Array Technologies guide.

Moving together with Array Stock

0.76	MMM	3M Company	Pair Corr
0.84	VMI	Valmont Industries Earnings Call This Week	Pair Corr
0.78	GTEC	Greenland Acquisition	Pair Corr
0.81	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.84	TOYO	TOYO Co,	Pair Corr
0.73	J	Jacobs Solutions	Pair Corr
0.7	R	Ryder System Earnings Call This Week	Pair Corr
0.89	AL	Air Lease	Pair Corr
0.75	AP	Ampco Pittsburgh	Pair Corr
0.68	AZ	A2Z Smart Technologies	Pair Corr
0.83	BA	Boeing	Pair Corr
0.65	BE	Bloom Energy Corp	Pair Corr
0.84	BV	BrightView Holdings	Pair Corr
0.85	BW	Babcock Wilcox Enter	Pair Corr
0.89	CP	Canadian Pacific Railway	Pair Corr
0.82	CR	Crane Company	Pair Corr
0.8	CW	Curtiss Wright	Pair Corr
0.89	DE	Deere Company	Pair Corr
0.76	DY	Dycom Industries	Pair Corr
0.89	FA	First Advantage Corp	Pair Corr
0.79	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.78	HY	Hyster Yale Materials	Pair Corr
0.84	IR	Ingersoll Rand	Pair Corr
0.88	LZ	LegalZoom	Pair Corr
0.73	NX	Quanex Building Products	Pair Corr
0.83	PH	Parker Hannifin	Pair Corr
0.61	PL	Planet Labs PBC	Pair Corr
0.81	SB	Safe Bulkers Earnings Call This Week	Pair Corr
0.79	TG	Tredegar	Pair Corr

Moving against Array Stock

0.81	MG	Mistras Group	Pair Corr
0.52	NL	NL Industries	Pair Corr
0.74	CODI-PA	Compass Diversified	Pair Corr
0.71	CODI-PB	Compass Diversified	Pair Corr
0.7	CODI-PC	Compass Diversified	Pair Corr
0.52	DNOW	Now Inc	Pair Corr
0.42	VCIG	VCI Global Limited	Pair Corr
0.37	VATE	Innovate Corp	Pair Corr

Related Correlations Analysis

	FSLR	SHLS	NXT	RUN	MAXN	EXEL	ACAD
FSLR		0.79	0.85	0.79	0.64	0.75	0.66	FSLR
SHLS	0.79		0.86	0.65	0.55	0.67	0.69	SHLS
NXT	0.85	0.86		0.55	0.45	0.87	0.91	NXT
RUN	0.79	0.65	0.55		0.78	0.5	0.26	RUN
MAXN	0.64	0.55	0.45	0.78		0.38	0.14	MAXN
EXEL	0.75	0.67	0.87	0.5	0.38		0.81	EXEL
ACAD	0.66	0.69	0.91	0.26	0.14	0.81		ACAD
	FSLR	SHLS	NXT	RUN	MAXN	EXEL	ACAD

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Risk-Adjusted Indicators

There is a big difference between Array Stock performing well and Array Technologies 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 Array Technologies' 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
FSLR	3.59	0.41	0.09	0.45	4.42	(3.93)	8.81	(6.54)	40.54
SHLS	4.05	0.89	0.13	1.95	5.43	(4.41)	9.51	(4.87)	42.33
NXT	2.61	0.55	0.21	0.83	2.09	(3.28)	6.83	(3.70)	18.67
RUN	6.23	0.82	0.08	0.47	11.19	(6.26)	15.97	(7.84)	58.11
MAXN	5.07	0.08	0.05	0.16	5.81	(5.69)	12.54	(9.79)	35.36
EXEL	1.93	0.23	0.11	0.34	1.91	(2.36)	4.18	(3.33)	25.63
ACAD	2.10	0.58	0.31	0.80	1.36	(2.82)	3.01	(2.80)	31.37

Array Technologies Corporate Management

Kevin Hostetler	CEO Director	Profile
Aaron Gabelnick	Chief Officer	Profile
Gina JD	Chief Secretary	Profile
Nick Strevel	Senior Sales	Profile
Erica Brinker	Social Environmental	Profile
Thierry MarinMartinod	Chief Officer	Profile

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