First Solar Correlations

FSLR Stock  MXN 3,629  14.00  0.38%   
The current 90-days correlation between First Solar and GMxico Transportes SAB is 0.13 (i.e., Average diversification). The correlation of First Solar 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.

First Solar Correlation With Market

Significant diversification

The correlation between First Solar and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Solar and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to First Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Solar when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Solar - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Solar to buy it.

Moving together with First Stock

  0.83ENPH Enphase Energy,PairCorr

Moving against First Stock

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  0.81BLK BlackRockPairCorr
  0.8CTSH Cognizant TechnologyPairCorr
  0.77DAL Delta Air LinesPairCorr
  0.76TSMN Taiwan SemiconductorPairCorr
  0.76HON Honeywell InternationalPairCorr
  0.75USB US BancorpPairCorr
  0.71PINFRAL Promotora y OperadoraPairCorr
  0.66NFLX NetflixPairCorr
  0.61T ATT IncPairCorr
  0.58AMZN Amazon IncPairCorr
  0.58CVX Chevron CorpPairCorr
  0.57MNST Monster Beverage CorpPairCorr
  0.55GIGANTE Grupo Gigante SPairCorr
  0.52TSLA Tesla IncPairCorr
  0.48KUOB Grupo KUO SABPairCorr
  0.45EDUCA18 Fideicomiso IrrevocablePairCorr
  0.45EMR Emerson ElectricPairCorr
  0.45PRU Prudential FinancialPairCorr
  0.44IDEALB-1 Impulsora del DesarrolloPairCorr
  0.76UAL United Airlines HoldingsPairCorr
  0.75LABB Genomma Lab InternacionalPairCorr
  0.63BRKB Berkshire HathawayPairCorr
  0.63DIS Walt DisneyPairCorr
  0.63COF Capital One FinancialPairCorr
  0.63TRV The Travelers CompaniesPairCorr
  0.62LUV Southwest AirlinesPairCorr
  0.62WMT WalmartPairCorr
  0.61HBCN HSBC Holdings plcPairCorr
  0.61UTSI UTStarcom Holdings CorpPairCorr
  0.56MAS MascoPairCorr
  0.54GT Goodyear TirePairCorr

Related Correlations Analysis

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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   
MNSTSTORAGE18
AMATGMXT
LYGNSTORAGE18
DXCSTORAGE18
LYGNGMXT
DXCGMXT
  
High negative correlations   
AMATSTORAGE18
GMXTSTORAGE18
MNSTAMAT
MNSTGMXT
DXCMNST
DXCLYGN

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Solar 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 First Solar'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Solar without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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First Solar Corporate Management

Elected by the shareholders, the First Solar's board of directors comprises two types of representatives: First Solar inside directors who are chosen from within the company, and outside directors, selected externally and held independent of First. The board's role is to monitor First Solar's management team and ensure that shareholders' interests are well served. First Solar's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, First Solar's outside directors are responsible for providing unbiased perspectives on the board's policies.