NiSource Correlations

NI Stock  USD 28.17  0.26  0.91%   
The current 90-days correlation between NiSource and The AES is 0.45 (i.e., Very weak diversification). The correlation of NiSource 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.

NiSource Correlation With Market

Very weak diversification

The correlation between NiSource and NYA is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiSource and NYA in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NiSource. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.
For more detail on how to invest in NiSource Stock please use our How to Invest in NiSource guide.

Moving together with NiSource Stock

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  0.9FE FirstEnergyPairCorr
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  0.86WTRG Essential UtilitiesPairCorr

Moving against NiSource Stock

  0.71NFE New Fortress EnergyPairCorr
  0.6CMS-PB Consumers EnergyPairCorr
  0.39SR-PA Spire IncPairCorr
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  0.51CMS-PC CMS EnergyPairCorr
  0.43ELPC Companhia ParanaensePairCorr

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   
OTTRAVA
AESALE
AVANWE
AESOTTR
SREALE
ALEOTTR
  
High negative correlations   
AESELP
ALEELP
ELPOTTR
SREELP
ELPAVA
ELPNWE

Risk-Adjusted Indicators

There is a big difference between NiSource Stock performing well and NiSource 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 NiSource'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.