RUN vs TAN: Correlation
Measured on weekly returns over the past three years, Sunrun Inc. (RUN) and Invesco Solar ETF (TAN) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RUN and TAN?
Across a 3-year window, the weekly returns of RUN and TAN correlate at 0.81, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.70) than the 3-year average (0.81). Stretching to 5 years gives 0.82, with an annualized covariance of 2850.6 %².
In RUN's tracked universe of 16 assets, TAN sits right near the top at #1. Correlation aside, the last 12 months split them widely, with TAN ahead by 64.1 points (-42.7% versus +21.4%). Risk is not evenly split, since RUN carries 2.5 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.
RUN vs TAN: side by side
| RUN (Sunrun Inc.) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -42.7% | +21.4% |
| 5-year return | -79.7% | -41.9% |
| Volatility (ann.) | 94.7% | 37.4% |
| Beta vs S&P 500 | 1.89 | 1.04 |
| Max drawdown (3Y) | -73.7% | -55.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | 6.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | RUN | TAN |
|---|---|---|
| 2022 | -30.0% | -5.2% |
| 2023 | -18.3% | -26.8% |
| 2024 | -52.9% | -37.6% |
| 2025 | +98.9% | +48.3% |
| 2026 | -50.8% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RUN and TAN good diversifiers for each other?
No. With a correlation of 0.81, RUN and TAN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between RUN and TAN?
As of 2026-08-27, the correlation of weekly returns between RUN and TAN is 0.81 over 3 years, 0.70 over 1 year and 0.82 over 5 years.
Is TAN a good diversifier for RUN?
No. With a correlation of 0.81, RUN and TAN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.81 mean?
A reading of 0.81 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/run-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/run-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RUN correlations · TAN correlations
