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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FirstEnergy. 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.
For information on how to trade FirstEnergy Stock refer to our How to Trade FirstEnergy Stock guide.

Moving together with FirstEnergy Stock

  0.74ED Consolidated EdisonPairCorr
  0.85ES Eversource EnergyPairCorr
  0.8AEP American Electric PowerPairCorr
  0.65DTE DTE EnergyPairCorr
  0.67DUK Duke Energy Sell-off TrendPairCorr
  0.88EIX Edison InternationalPairCorr
  0.86FTS Fortis IncPairCorr
  0.65GNE Genie EnergyPairCorr
  0.75NEE Nextera Energy Downward RallyPairCorr
  0.8NGG National Grid PLCPairCorr
  0.61NWE NorthWesternPairCorr
  0.66PNW Pinnacle West CapitalPairCorr
  0.74POR Portland General ElectricPairCorr

Moving against FirstEnergy Stock

  0.63VSTE Vast Renewables TrendingPairCorr
  0.39HE Hawaiian ElectricPairCorr
  0.39VSTEW Vast RenewablesPairCorr

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   
EBR-BEBR
MGEEETI-P
CEPUMGEE
CEPUETI-P
CEPUIDA
MGEEIDA
  
High negative correlations   
HEETI-P
HEMGEE
CEPUHE
CEPUEBR-B
CEPUEBR
EBR-BMGEE

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.