ENPH vs. STLD
ENPH (Enphase Energy, Inc.) and STLD (Steel Dynamics, Inc.) are both stocks. ENPH operates in Solar (Technology), while STLD operates in Steel (Basic Materials). Over the past 10 years, ENPH returned 39.19%/yr vs 29.92%/yr for STLD. At a 0.25 correlation, their price movements are largely independent.
Performance
ENPH vs. STLD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ENPH having a 70.33% return and STLD slightly lower at 67.39%. Over the past 10 years, ENPH has outperformed STLD with an annualized return of 39.19%, while STLD has yielded a comparatively lower 29.92% annualized return.
ENPH
- 1D
- -0.62%
- 1M
- 3.21%
- YTD
- 70.33%
- 6M
- 69.64%
- 1Y
- 19.71%
- 3Y*
- -32.77%
- 5Y*
- -17.99%
- 10Y*
- 39.19%
STLD
- 1D
- 1.15%
- 1M
- 23.29%
- YTD
- 67.39%
- 6M
- 65.42%
- 1Y
- 114.70%
- 3Y*
- 40.23%
- 5Y*
- 36.27%
- 10Y*
- 29.92%
ENPH vs. STLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENPH Enphase Energy, Inc. | 70.33% | -53.33% | -48.02% | -50.13% | 44.83% | 4.26% | 571.53% | 452.43% | 96.27% | 138.61% |
STLD Steel Dynamics, Inc. | 67.39% | 50.70% | -1.99% | 22.75% | 60.14% | 71.42% | 12.46% | 16.78% | -29.02% | 23.34% |
Correlation
The correlation between ENPH and STLD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012 | 0.25 |
The correlation between ENPH and STLD shifts across timeframes, from 0.22 (10 years) to 0.38 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
ENPH:
$7.17B
STLD:
$40.94B
ENPH:
$0.92
STLD:
$9.33
ENPH:
59.58
STLD:
30.30
ENPH:
5.20
STLD:
2.19
ENPH:
6.50
STLD:
4.47
ENPH:
$1.40B
STLD:
$19.01B
ENPH:
$619.16M
STLD:
$2.66B
ENPH:
$189.48M
STLD:
$2.23B
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Return for Risk
ENPH vs. STLD — Risk / Return Rank
ENPH
STLD
ENPH vs. STLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and Steel Dynamics, Inc. (STLD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ENPH | STLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.28 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.50 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 5.81 | -5.29 |
| Martin ratioReturn relative to average drawdown | 0.92 | 19.49 | -18.57 |
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Drawdowns
ENPH vs. STLD - Drawdown Comparison
The maximum ENPH drawdown since its inception was -95.97%, which is greater than STLD's maximum drawdown of -87.05%. Use the drawdown chart below to compare losses from any high point for ENPH and STLD.
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Drawdown Indicators
| ENPH | STLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.97% | -87.05% | -8.92% |
Max Drawdown (1Y)Largest decline over 1 year | -43.13% | -20.33% | -22.80% |
Max Drawdown (3Y)Largest decline over 3 years | -86.23% | -28.66% | -57.57% |
Max Drawdown (5Y)Largest decline over 5 years | -92.23% | -32.20% | -60.03% |
Max Drawdown (10Y)Largest decline over 10 years | -92.23% | -68.46% | -23.77% |
Current DrawdownCurrent decline from peak | -83.75% | 0.00% | -83.75% |
Average DrawdownAverage peak-to-trough decline | -50.57% | -33.27% | -17.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.10% | 6.04% | +18.06% |
Volatility
ENPH vs. STLD - Volatility Comparison
Enphase Energy, Inc. (ENPH) has a higher volatility of 40.41% compared to Steel Dynamics, Inc. (STLD) at 9.70%. This indicates that ENPH's price experiences larger fluctuations and is considered to be riskier than STLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENPH | STLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.41% | 9.70% | +30.71% |
Volatility (6M)Calculated over the trailing 6-month period | 66.31% | 24.96% | +41.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.85% | 33.38% | +53.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.23% | 38.03% | +32.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.26% | 39.31% | +38.95% |
Dividends
ENPH vs. STLD - Dividend Comparison
ENPH has not paid dividends to shareholders, while STLD's dividend yield for the trailing twelve months is around 0.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENPH Enphase Energy, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STLD Steel Dynamics, Inc. | 0.72% | 1.18% | 1.61% | 1.44% | 1.39% | 1.68% | 2.71% | 2.82% | 2.50% | 1.44% | 1.57% | 3.08% |
Financials
ENPH vs. STLD - Financials Comparison
This section allows you to compare key financial metrics between Enphase Energy, Inc. and Steel Dynamics, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ENPH vs. STLD - Profitability Comparison
ENPH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a gross profit of 100.39M and revenue of 282.90M. Therefore, the gross margin over that period was 35.5%.
STLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.
ENPH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.
STLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.
ENPH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a net income of -20.31M and revenue of 282.90M, resulting in a net margin of -7.2%.
STLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.
Frequently Asked Questions
ENPH and STLD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENPH has higher volatility (40.41%) compared to STLD (9.70%). In terms of maximum drawdown, ENPH dropped -95.97% vs STLD's -87.05%.
STLD currently has the higher Sharpe Ratio (3.54 vs 0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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