FirstEnergy Correlations
FE Stock | USD 41.58 0.32 0.76% |
The current 90-days correlation between FirstEnergy and Centrais Electricas Brasileiras is 0.06 (i.e., Significant diversification). The correlation of FirstEnergy 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.
FirstEnergy Correlation With Market
Significant diversification
The correlation between FirstEnergy and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FirstEnergy and DJI in the same portfolio, assuming nothing else is changed.
FirstEnergy |
Moving together with FirstEnergy Stock
0.74 | ED | Consolidated Edison | PairCorr |
0.85 | ES | Eversource Energy | PairCorr |
0.8 | AEP | American Electric Power | PairCorr |
0.65 | DTE | DTE Energy | PairCorr |
0.67 | DUK | Duke Energy Sell-off Trend | PairCorr |
0.88 | EIX | Edison International | PairCorr |
0.86 | FTS | Fortis Inc | PairCorr |
0.65 | GNE | Genie Energy | PairCorr |
0.75 | NEE | Nextera Energy Downward Rally | PairCorr |
0.8 | NGG | National Grid PLC | PairCorr |
0.61 | NWE | NorthWestern | PairCorr |
0.66 | PNW | Pinnacle West Capital | PairCorr |
0.74 | POR | Portland General Electric | PairCorr |
Moving against FirstEnergy Stock
0.63 | VSTE | Vast Renewables Trending | PairCorr |
0.39 | HE | Hawaiian Electric | PairCorr |
0.39 | VSTEW | Vast Renewables | PairCorr |
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
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Risk-Adjusted Indicators
There is a big difference between FirstEnergy Stock performing well and FirstEnergy 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 FirstEnergy'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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
EBR | 1.42 | (0.12) | 0.00 | (0.07) | 0.00 | 3.66 | 10.12 | |||
ETI-P | 0.48 | 0.13 | (0.06) | (4.22) | 0.47 | 1.28 | 3.43 | |||
IDA | 0.70 | 0.10 | (0.02) | 0.51 | 0.50 | 1.75 | 3.57 | |||
MGEE | 0.98 | 0.03 | 0.04 | 0.20 | 0.86 | 1.92 | 5.10 | |||
HE | 2.77 | (0.62) | 0.00 | (1.80) | 0.00 | 5.35 | 18.49 | |||
EBR-B | 1.43 | (0.15) | 0.00 | (0.02) | 0.00 | 2.96 | 12.18 | |||
CEPU | 1.86 | 0.49 | 0.21 | 0.74 | 1.75 | 4.46 | 12.26 |