SUNE vs UPWK: Correlation
SUNation Energy, Inc. (SUNE) and Upwork Inc. (UPWK) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SUNE and UPWK?
Over the past 3 years, SUNE and UPWK moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.29). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -2859.3 %².
UPWK is close to the least connected end of SUNE's tracked universe, ranking #17 of 18. Correlation aside, the last 12 months split them widely, with SUNE ahead by 86.4 points (+46.7% versus -39.7%). One caveat on sizing: SUNE is 3.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SUNE vs UPWK: side by side
| SUNE (SUNation Energy, Inc.) | UPWK (Upwork Inc.) | |
|---|---|---|
| 1-year return | +46.7% | -39.7% |
| 5-year return | -100.0% | -79.8% |
| Volatility (ann.) | 189.9% | 51.1% |
| Beta vs S&P 500 | -0.81 | 1.34 |
| Max drawdown (3Y) | -100.0% | -64.5% |
| Market cap | – | $1.1B |
| P/E (trailing) | 1.1 | 11.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SUNE | UPWK |
|---|---|---|
| 2022 | -75.7% | -69.4% |
| 2023 | -74.7% | +42.4% |
| 2024 | -99.4% | +10.0% |
| 2025 | -99.8% | +21.2% |
| 2026 | +113.6% | -55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SUNE and UPWK good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SUNE and UPWK?
As of 2026-08-27, the correlation of weekly returns between SUNE and UPWK is -0.29 over 3 years, -0.40 over 1 year and -0.10 over 5 years.
Is UPWK a good diversifier for SUNE?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/sune-vs-upwk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sune-vs-upwk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SUNE correlations · UPWK correlations
