ENGIE Eps Correlations

8XE Stock

EUR 1.20 0.00 0.00%

The current 90-days correlation between ENGIE Eps SA and SIEMENS AG SP is -0.07 (i.e., Good diversification). The correlation of ENGIE Eps 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.

ENGIE Eps Correlation With Market

Good diversification

The correlation between ENGIE Eps SA and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENGIE Eps SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ENGIE Eps could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ENGIE Eps when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ENGIE Eps - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ENGIE Eps SA to buy it.

Moving together with ENGIE Stock

0.62	W5E	Peel Mining Limited	Pair Corr
0.82	WX1	Acadia Realty Trust	Pair Corr
0.85	2WY	Wyndham Hotels Resorts	Pair Corr
0.8	PCG6	PG E P6	Pair Corr
0.89	NT4	Northern Trust	Pair Corr
0.77	VA7A	VERISK ANLYTCS A	Pair Corr
0.78	HI91	Hilton Worldwide Holdings	Pair Corr
0.87	2CDA	Controladora Vuela Compaa	Pair Corr
0.63	SYY	Sysco	Pair Corr
0.72	UFH	US FOODS HOLDING	Pair Corr
0.71	AF4	HANOVER INSURANCE	Pair Corr
0.67	3FNA	ADRIATIC METALS LS	Pair Corr
0.74	PTX	Palantir Technologies	Pair Corr
0.67	AQHE	Event Hospitality	Pair Corr
0.7	EN3	Enbridge	Pair Corr
0.82	WD5A	TRAVEL LEISURE DL	Pair Corr

Moving against ENGIE Stock

0.85	ACO	Atlas Copco A	Pair Corr
0.81	VWSB	Vestas Wind Systems	Pair Corr
0.8	VWSB	Vestas Wind Systems	Pair Corr
0.5	RAA	RATIONAL Aktiengesellscha	Pair Corr
0.34	4OV	Iron Road Limited	Pair Corr
0.56	AXI	Atos SE	Pair Corr
0.38	C4S1	CHINA STATE STRU	Pair Corr

Related Correlations Analysis

	SIEB	SIE	SND	ACO	RAA	4PG	FUCA	VWSB	VWSB
SIEB		0.96	0.61	-0.17	-0.46	0.21	-0.01	-0.58	-0.6	SIEB
SIE	0.96		0.66	-0.15	-0.43	0.22	0.0	-0.54	-0.57	SIE
SND	0.61	0.66		-0.25	-0.13	0.24	-0.12	-0.44	-0.45	SND
ACO	-0.17	-0.15	-0.25		0.51	-0.09	0.36	0.74	0.73	ACO
RAA	-0.46	-0.43	-0.13	0.51		0.31	-0.1	0.66	0.66	RAA
4PG	0.21	0.22	0.24	-0.09	0.31		-0.12	-0.31	-0.32	4PG
FUCA	-0.01	0.0	-0.12	0.36	-0.1	-0.12		0.04	0.06	FUCA
VWSB	-0.58	-0.54	-0.44	0.74	0.66	-0.31	0.04		1.0	VWSB
VWSB	-0.6	-0.57	-0.45	0.73	0.66	-0.32	0.06	1.0		VWSB
	SIEB	SIE	SND	ACO	RAA	4PG	FUCA	VWSB	VWSB

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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

VWSB	+ 1.0	VWSB
SIE	+ 0.96	SIEB
VWSB	+ 0.74	ACO
VWSB	+ 0.73	ACO
SND	+ 0.66	SIE
VWSB	+ 0.66	RAA

High negative correlations

VWSB	- 0.6	SIEB
VWSB	- 0.58	SIEB
VWSB	- 0.57	SIE
VWSB	- 0.54	SIE
RAA	- 0.46	SIEB
VWSB	- 0.45	SND

Risk-Adjusted Indicators

There is a big difference between ENGIE Stock performing well and ENGIE Eps 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 ENGIE Eps' 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
SIEB	1.46	0.20	0.07	0.77	2.02	(1.52)	2.69	(3.87)	11.52
SIE	1.21	0.18	0.10	0.74	1.31	(1.44)	2.38	(2.61)	9.58
SND	1.05	(0.01)	(0.02)	0.02	1.40	(1.13)	2.28	(2.33)	7.76
ACO	1.24	(0.09)	0.00	(1.46)	0.00	0.00	3.36	(2.29)	9.88
RAA	0.99	(0.13)	0.00	(0.32)	0.00	0.00	2.13	(2.06)	6.01
4PG	0.86	0.07	0.04	0.19	1.02	(0.93)	1.61	(1.88)	6.74
FUCA	1.67	0.01	(0.01)	0.05	1.59	(2.54)	3.94	(2.50)	13.97
VWSB	2.17	(0.62)	0.00	0.70	0.00	0.00	4.01	(5.09)	15.65
VWSB	2.68	(0.61)	0.00	0.86	0.00	0.00	5.08	(5.34)	17.44

ENGIE Eps Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ENGIE Eps stock to make a market-neutral strategy. Peer analysis of ENGIE Eps could also be used in its relative valuation, which is a method of valuing ENGIE Eps by comparing valuation metrics with similar companies.

SIEMENS AG SP Siemens Aktiengesellschaft Schneider Electric SE Atlas Copco A RATIONAL Aktiengesellschaft Otis Worldwide Corp FANUC PUNSPADR 110 Vestas Wind Systems Vestas Wind Systems American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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