HE vs SUNS: Correlation
Hawaiian Electric Industries, Inc. (HE) and Sunrise Realty Trust, Inc. (SUNS) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HE and SUNS?
Over the past 3 years, HE and SUNS moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.27). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -644.8 %².
SUNS is close to the least connected end of HE's tracked universe, ranking #18 of 18. Over the last 12 months HE came out ahead by 14.0 percentage points (-9.1% against -23.1%).
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.
HE vs SUNS: side by side
| HE (Hawaiian Electric Industries, Inc.) | SUNS (Sunrise Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -9.1% | -23.1% |
| 5-year return | -71.4% | n/a |
| Volatility (ann.) | 58.8% | 40.6% |
| Beta vs S&P 500 | 0.09 | 0.99 |
| Max drawdown (3Y) | -53.3% | -44.3% |
| Market cap | $2.0B | $0.1B |
| P/E (trailing) | 8.9 | 7.9 |
| Dividend yield | 0.00% | 15.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HE | SUNS |
|---|---|---|
| 2022 | +4.3% | – |
| 2023 | -64.6% | – |
| 2024 | -31.4% | – |
| 2025 | +26.4% | -25.0% |
| 2026 | -6.8% | -13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HE and SUNS good diversifiers for each other?
Yes. With a correlation of -0.27, HE and SUNS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HE and SUNS?
The HE/SUNS correlation stands at -0.27 on a 3-year window (1 year: 0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SUNS a good diversifier for HE?
Yes. With a correlation of -0.27, HE and SUNS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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.
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Related comparisons
Hubs: HE correlations · SUNS correlations
