FLNC vs. ENPH
FLNC (Fluence Energy, Inc.) and ENPH (Enphase Energy, Inc.) are both stocks. FLNC operates in Utilities - Renewable (Utilities), while ENPH operates in Solar (Technology). Over the past 3 years, FLNC returned -3.88%/yr vs -33.24%/yr for ENPH. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
FLNC vs. ENPH - Performance Comparison
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Returns By Period
In the year-to-date period, FLNC achieves a 7.23% return, which is significantly lower than ENPH's 47.33% return.
FLNC
- 1D
- -15.80%
- 1M
- -1.30%
- YTD
- 7.23%
- 6M
- 7.83%
- 1Y
- 277.40%
- 3Y*
- -3.88%
- 5Y*
- —
- 10Y*
- —
ENPH
- 1D
- -9.90%
- 1M
- -26.25%
- YTD
- 47.33%
- 6M
- 46.55%
- 1Y
- 36.63%
- 3Y*
- -33.24%
- 5Y*
- -22.67%
- 10Y*
- 36.65%
FLNC vs. ENPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FLNC Fluence Energy, Inc. | 7.23% | 24.56% | -33.42% | 39.07% | -51.77% | 6.15% |
ENPH Enphase Energy, Inc. | 47.33% | -53.33% | -48.02% | -50.13% | 44.83% | -15.39% |
Correlation
The correlation between FLNC and ENPH is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021 | 0.54 |
The correlation between FLNC and ENPH has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.
Fundamentals
FLNC:
$2.80B
ENPH:
$6.20B
FLNC:
-$0.26
ENPH:
$0.92
FLNC:
1.30
ENPH:
4.50
FLNC:
7.61
ENPH:
5.63
FLNC:
$2.58B
ENPH:
$1.40B
FLNC:
$301.68M
ENPH:
$619.16M
FLNC:
$4.46M
ENPH:
$189.48M
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Return for Risk
FLNC vs. ENPH — Risk / Return Rank
FLNC
ENPH
FLNC vs. ENPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fluence Energy, Inc. (FLNC) and Enphase Energy, Inc. (ENPH). 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.
| FLNC | ENPH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.16 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 0.93 | +3.49 |
| Martin ratioReturn relative to average drawdown | 8.81 | 1.70 | +7.10 |
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Drawdowns
FLNC vs. ENPH - Drawdown Comparison
The maximum FLNC drawdown since its inception was -90.40%, smaller than the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for FLNC and ENPH.
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Drawdown Indicators
| FLNC | ENPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.40% | -95.97% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -63.30% | -39.65% | -23.65% |
Max Drawdown (3Y)Largest decline over 3 years | -88.40% | -86.23% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -92.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.23% | — |
Current DrawdownCurrent decline from peak | -43.61% | -85.95% | +42.34% |
Average DrawdownAverage peak-to-trough decline | -53.61% | -50.63% | -2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.67% | 21.60% | +10.07% |
Volatility
FLNC vs. ENPH - Volatility Comparison
Fluence Energy, Inc. (FLNC) has a higher volatility of 52.24% compared to Enphase Energy, Inc. (ENPH) at 32.94%. This indicates that FLNC's price experiences larger fluctuations and is considered to be riskier than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLNC | ENPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 52.24% | 32.94% | +19.30% |
Volatility (6M)Calculated over the trailing 6-month period | 93.63% | 68.01% | +25.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 128.62% | 84.75% | +43.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 98.63% | 70.51% | +28.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 98.63% | 78.35% | +20.28% |
Dividends
FLNC vs. ENPH - Dividend Comparison
Neither FLNC nor ENPH has paid dividends to shareholders.
Financials
FLNC vs. ENPH - Financials Comparison
This section allows you to compare key financial metrics between Fluence Energy, Inc. and Enphase Energy, 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
FLNC vs. ENPH - Profitability Comparison
FLNC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fluence Energy, Inc. reported a gross profit of 46.63M and revenue of 464.89M. Therefore, the gross margin over that period was 10.0%.
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%.
FLNC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fluence Energy, Inc. reported an operating income of -34.94M and revenue of 464.89M, resulting in an operating margin of -7.5%.
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%.
FLNC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fluence Energy, Inc. reported a net income of -20.93M and revenue of 464.89M, resulting in a net margin of -4.5%.
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%.
Frequently Asked Questions
FLNC and ENPH have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLNC has higher volatility (52.24%) compared to ENPH (32.94%). In terms of maximum drawdown, FLNC dropped -90.40% vs ENPH's -95.97%.
FLNC currently has the higher Sharpe Ratio (2.17 vs 0.43), 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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