FSLR vs SEDG: Correlation
First Solar (FSLR) and SolarEdge Technologies, Inc. (SEDG) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSLR and SEDG?
Across a 3-year window, the weekly returns of FSLR and SEDG correlate at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.44). Stretching to 5 years gives 0.45, with an annualized covariance of 2434.4 %².
Among the 34 assets we track against FSLR, SEDG ranks #11 by 3-year correlation. Over the last 12 months FSLR came out ahead by 8.6 percentage points (+9.9% against +1.3%). Risk is not evenly split, since SEDG carries 1.8 times the volatility of the other side.
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.
FSLR vs SEDG: side by side
| FSLR (First Solar) | SEDG (SolarEdge Technologies, Inc.) | |
|---|---|---|
| 1-year return | +9.9% | +1.3% |
| 5-year return | +119.6% | -88.7% |
| Volatility (ann.) | 56.2% | 99.4% |
| Beta vs S&P 500 | 1.14 | 0.93 |
| Max drawdown (3Y) | -60.0% | -93.7% |
| Market cap | $22.6B | $2.1B |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FSLR | SEDG |
|---|---|---|
| 2022 | +71.9% | +1.0% |
| 2023 | +15.0% | -67.0% |
| 2024 | +2.3% | -85.5% |
| 2025 | +48.2% | +112.1% |
| 2026 | -19.6% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSLR and SEDG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSLR and SEDG?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.22 over the last year and 0.45 over 5 years.
Is SEDG a good diversifier for FSLR?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/fslr-vs-sedg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fslr-vs-sedg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSLR correlations · SEDG correlations
