American Electric Correlations

Stocks . USA . 
Stock . American Electric Power
AEP Stock  USD 103.05  0.18  0.17%   
The current 90-days correlation between American Electric Power and Southern Company is 0.76 (i.e., Poor diversification). The correlation of American Electric is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

American Electric Correlation With Market

Average diversification

The correlation between American Electric Power and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Electric Power and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Electric Power. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with American Stock

  0.95D Dominion EnergyPairCorr
  0.98ED Consolidated EdisonPairCorr
  0.98ES Eversource EnergyPairCorr
  0.97FE FirstEnergyPairCorr
  0.97SO SouthernPairCorr
  0.73CMS-PC CMS EnergyPairCorr
  0.99EVRG Evergy, Common StockPairCorr
  0.99AEE Ameren CorpPairCorr
  0.92AGR AvangridPairCorr
  0.97CMS CMS EnergyPairCorr
  0.97DTE DTE EnergyPairCorr
  0.98DUK Duke EnergyPairCorr
  0.96EIX Edison InternationalPairCorr
  0.98ETR EntergyPairCorr
  0.96EXC ExelonPairCorr
  0.94FTS Fortis IncPairCorr
  0.77GNE Genie EnergyPairCorr
  0.96IDA IDACORPPairCorr
  0.62KEP Korea Electric PowerPairCorr
  0.97LNT Alliant Energy CorpPairCorr
  0.86NEE Nextera Energy Aggressive PushPairCorr
  0.93NGG National Grid PLCPairCorr
  0.93NWE NorthWesternPairCorr
  0.98OGE OGE Energy Sell-off TrendPairCorr
  0.79PCG PGE CorpPairCorr
  0.92PEG Public Service EnterprisePairCorr
  0.99PNW Pinnacle West CapitalPairCorr
  0.94POR Portland General ElectricPairCorr
  0.95PPL PPL CorporationPairCorr
  0.96WEC WEC Energy GroupPairCorr
  0.96XEL Xcel Energy Fiscal Year End 23rd of January 2025 PairCorr
  0.76DUK-PA Duke EnergyPairCorr

Moving against American Stock

  0.84CNP CenterPoint EnergyPairCorr
  0.77VSTE Vast RenewablesPairCorr
  0.54ENIC Enel Chile SAPairCorr
  0.75VSTEW Vast RenewablesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Electric Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze American Electric's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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