Spruce Power Correlations

SPRU Stock

1.37 0.05 3.52%

The current 90-days correlation between Spruce Power Holding and Emeren Group is -0.15 (i.e., Good diversification). The correlation of Spruce Power 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.

Spruce Power Correlation With Market

Average diversification

The correlation between Spruce Power Holding and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spruce Power Holding and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spruce Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Spruce Power Holding. 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.

Moving against Spruce Stock

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Related Correlations Analysis

	ISUNQ	SOL	NXT	SUNWQ	ZEVY	OUST	XOS	MVST
ISUNQ		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ISUNQ
SOL	0.0		0.9	0.0	0.0	0.9	-0.67	0.77	SOL
NXT	0.0	0.9		0.0	0.0	0.76	-0.61	0.82	NXT
SUNWQ	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SUNWQ
ZEVY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ZEVY
OUST	0.0	0.9	0.76	0.0	0.0		-0.61	0.57	OUST
XOS	0.0	-0.67	-0.61	0.0	0.0	-0.61		-0.75	XOS
MVST	0.0	0.77	0.82	0.0	0.0	0.57	-0.75		MVST
	ISUNQ	SOL	NXT	SUNWQ	ZEVY	OUST	XOS	MVST

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NXT	+ 0.9	SOL
OUST	+ 0.9	SOL
MVST	+ 0.82	NXT
MVST	+ 0.77	SOL
OUST	+ 0.76	NXT
MVST	+ 0.57	OUST

High negative correlations

MVST	- 0.75	XOS
XOS	- 0.67	SOL
XOS	- 0.61	OUST
XOS	- 0.61	NXT
MVST	- 0.0	ZEVY
XOS	- 0.0	ZEVY

Risk-Adjusted Indicators

There is a big difference between Spruce Stock performing well and Spruce Power 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 Spruce Power's 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
ISUNQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SOL	2.61	0.78	0.12	(0.94)	2.95	(3.19)	6.78	(7.26)	19.43
NXT	2.58	0.60	0.22	1.01	2.11	(3.16)	6.83	(3.70)	18.67
SUNWQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZEVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OUST	4.81	2.20	0.57	2.22	3.15	(6.50)	10.25	(5.93)	37.77
XOS	2.17	(0.06)	0.00	(0.26)	0.00	0.00	4.18	(4.31)	14.24
MVST	4.95	1.27	0.24	(4.31)	3.95	(6.45)	14.21	(6.23)	40.27

Spruce Power Corporate Management

Richard DiMatteo	Head VP	Profile
Jonathan JD	Chief Officer	Profile
Donald CPA	Chief Officer	Profile
Stacey Constas	General Counsel	Profile
Chris Goldner	Corporate Controller	Profile
Sophia Washington	Senior Applications	Profile
Mike Kenhard	Drivetrain Manager	Profile

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