ENPH vs SEDG: Correlation
Measured on weekly returns over the past three years, Enphase Energy, Inc. (ENPH) and SolarEdge Technologies, Inc. (SEDG) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENPH and SEDG?
On 3 years of weekly data the ENPH/SEDG correlation comes out at 0.67, strong. The link has loosened recently: the 1-year correlation (0.57) runs below the 3-year figure (0.67). The 5-year figure is 0.69, and annualized covariance runs at 4669.3 %².
In ENPH's tracked universe of 12 assets, SEDG sits right near the top at #2. Twelve-month performance is nearly a tie, at +4.5% for ENPH and +1.3% for SEDG.
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 SEDG: side by side
| ENPH (Enphase Energy, Inc.) | SEDG (SolarEdge Technologies, Inc.) | |
|---|---|---|
| 1-year return | +4.5% | +1.3% |
| 5-year return | -77.9% | -88.7% |
| Volatility (ann.) | 70.2% | 99.4% |
| Beta vs S&P 500 | 1.12 | 0.93 |
| Max drawdown (3Y) | -81.0% | -93.7% |
| Market cap | $5.2B | $2.1B |
| P/E (trailing) | 38.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENPH | SEDG |
|---|---|---|
| 2022 | +44.8% | +1.0% |
| 2023 | -50.1% | -67.0% |
| 2024 | -48.0% | -85.5% |
| 2025 | -53.3% | +112.1% |
| 2026 | +22.5% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENPH and SEDG good diversifiers for each other?
Only partially. A correlation of 0.67 means ENPH and SEDG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ENPH and SEDG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.57 over the last year and 0.69 over 5 years.
Is SEDG a good diversifier for ENPH?
Only partially. A correlation of 0.67 means ENPH and SEDG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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-sedg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/enph-vs-sedg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENPH correlations · SEDG correlations
