ENPH vs RUN: Correlation
Enphase Energy, Inc. (ENPH) and Sunrun Inc. (RUN) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENPH and RUN?
On 3 years of weekly data the ENPH/RUN correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.31 versus 0.58 over 3 years. The 5-year figure is 0.61, and annualized covariance runs at 3820.4 %².
By 3-year correlation, RUN places #4 of the 12 assets tracked against ENPH. The last year tells two different stories: ENPH led by 47.2 percentage points, +4.5% for ENPH against -42.7% for RUN.
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.
ENPH vs RUN: side by side
| ENPH (Enphase Energy, Inc.) | RUN (Sunrun Inc.) | |
|---|---|---|
| 1-year return | +4.5% | -42.7% |
| 5-year return | -77.9% | -79.7% |
| Volatility (ann.) | 70.2% | 94.7% |
| Beta vs S&P 500 | 1.12 | 1.89 |
| Max drawdown (3Y) | -81.0% | -73.7% |
| Market cap | $5.2B | $2.2B |
| P/E (trailing) | 38.1 | 6.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENPH | RUN |
|---|---|---|
| 2022 | +44.8% | -30.0% |
| 2023 | -50.1% | -18.3% |
| 2024 | -48.0% | -52.9% |
| 2025 | -53.3% | +98.9% |
| 2026 | +22.5% | -50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENPH and RUN good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ENPH and RUN?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.31 over the last year and 0.61 over 5 years.
Is RUN a good diversifier for ENPH?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enph-vs-run.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/enph-vs-run/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENPH correlations · RUN correlations
