CVNA vs SUNE: Correlation
Measured on weekly returns over the past three years, Carvana (CVNA) and SUNation Energy, Inc. (SUNE) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVNA and SUNE?
Over the past 3 years, CVNA and SUNE moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -2862.8 %².
Within CVNA's tracked universe of 35 assets, SUNE comes in at #30 by 3-year correlation. The last year tells two different stories: SUNE led by 45.9 percentage points, +0.8% for CVNA against +46.7% for SUNE. Note the risk asymmetry: SUNE runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CVNA vs SUNE: side by side
| CVNA (Carvana) | SUNE (SUNation Energy, Inc.) | |
|---|---|---|
| 1-year return | +0.8% | +46.7% |
| 5-year return | +9.7% | -100.0% |
| Volatility (ann.) | 73.7% | 189.9% |
| Beta vs S&P 500 | 2.66 | -0.81 |
| Max drawdown (3Y) | -53.5% | -100.0% |
| Market cap | $82.1B | – |
| P/E (trailing) | 39.0 | 1.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CVNA | SUNE |
|---|---|---|
| 2022 | -98.0% | -75.7% |
| 2023 | +1016.9% | -74.7% |
| 2024 | +284.1% | -99.4% |
| 2025 | +107.5% | -99.8% |
| 2026 | -12.2% | +113.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVNA and SUNE good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CVNA and SUNE?
The CVNA/SUNE correlation stands at -0.20 on a 3-year window (1 year: -0.20, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is SUNE a good diversifier for CVNA?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvna-vs-sune.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvna-vs-sune/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVNA correlations · SUNE correlations
