Correlation
The correlation between ARRY and ^GSPC is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
ARRY vs. ^GSPC
Compare and contrast key facts about Array Technologies, Inc. (ARRY) and S&P 500 (^GSPC).
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ARRY or ^GSPC.
Performance
ARRY vs. ^GSPC - Performance Comparison
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Key characteristics
ARRY:
-0.59
^GSPC:
0.62
ARRY:
-0.55
^GSPC:
0.94
ARRY:
0.94
^GSPC:
1.14
ARRY:
-0.56
^GSPC:
0.61
ARRY:
-1.00
^GSPC:
2.29
ARRY:
51.22%
^GSPC:
5.01%
ARRY:
88.25%
^GSPC:
19.79%
ARRY:
-92.20%
^GSPC:
-56.78%
ARRY:
-87.03%
^GSPC:
-3.78%
Returns By Period
In the year-to-date period, ARRY achieves a 9.60% return, which is significantly higher than ^GSPC's 0.52% return.
ARRY
9.60%
25.14%
-5.43%
-52.06%
-15.80%
N/A
N/A
^GSPC
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
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Risk-Adjusted Performance
ARRY vs. ^GSPC — Risk-Adjusted Performance Rank
ARRY
^GSPC
ARRY vs. ^GSPC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Array Technologies, Inc. (ARRY) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Drawdowns
ARRY vs. ^GSPC - Drawdown Comparison
The maximum ARRY drawdown since its inception was -92.20%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ARRY and ^GSPC.
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Volatility
ARRY vs. ^GSPC - Volatility Comparison
Array Technologies, Inc. (ARRY) has a higher volatility of 33.85% compared to S&P 500 (^GSPC) at 4.76%. This indicates that ARRY's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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