Atmos Energy Correlations

A1TM34 Stock

425.88 0.00 0.00%

The current 90-days correlation between Atmos Energy and Taiwan Semiconductor Manufacturing is 0.26 (i.e., Modest diversification). The correlation of Atmos Energy 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.

Atmos Energy Correlation With Market

Good diversification

The correlation between Atmos Energy 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 Atmos Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Atmos Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Atmos Energy 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 Atmos Energy - 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 Atmos Energy to buy it.

Moving together with Atmos Stock

0.76	TSMC34	Taiwan Semiconductor	Pair Corr
0.78	AAPL34	Apple Inc	Pair Corr
0.8	MSFT34	Microsoft	Pair Corr
0.88	GOGL35	Alphabet	Pair Corr
0.87	GOGL34	Alphabet	Pair Corr
0.93	AMZO34	Amazon Inc	Pair Corr
0.92	H1SB34	HSBC Holdings plc	Pair Corr
0.79	BERK34	Berkshire Hathaway	Pair Corr
0.93	MRFG3	Marfrig Global Foods	Pair Corr
0.76	A1SN34	Ascendis Pharma AS	Pair Corr
0.68	A1IV34	Apartment Investment and	Pair Corr
0.66	H1DB34	HDFC Bank Limited	Pair Corr
0.65	NVDC34	NVIDIA	Pair Corr
0.62	R1KU34	Roku Inc	Pair Corr
0.83	EQIX34	Equinix	Pair Corr
0.72	B1RF34	Broadridge Financial	Pair Corr
0.76	P1YC34	Paycom Software	Pair Corr
0.66	FHER3	Fertilizantes Heringer	Pair Corr
0.76	PETR3	Petrleo Brasileiro	Pair Corr
0.96	U1AL34	United Airlines Holdings	Pair Corr
0.81	M1CB34	Molson Coors Beverage	Pair Corr
0.81	PETR4	Petrleo Brasileiro	Pair Corr
0.78	H2TA34	Healthcare Realty Trust	Pair Corr
0.91	A1AP34	Advance Auto Parts	Pair Corr

Moving against Atmos Stock

0.81

BABA34

Alibaba Group Holding

Pair Corr

Related Correlations Analysis

	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34
TSMC34		0.75	-0.46	0.74	0.38	0.83	0.86	0.79	0.84	0.49	TSMC34
AAPL34	0.75		-0.46	0.94	0.45	0.84	0.85	0.89	0.84	0.73	AAPL34
BABA34	-0.46	-0.46		-0.48	0.26	-0.58	-0.56	-0.64	-0.66	-0.7	BABA34
MSFT34	0.74	0.94	-0.48		0.48	0.83	0.85	0.91	0.84	0.74	MSFT34
B1SA34	0.38	0.45	0.26	0.48		0.17	0.23	0.22	0.18	0.1	B1SA34
GOGL35	0.83	0.84	-0.58	0.83	0.17		0.98	0.94	0.93	0.61	GOGL35
GOGL34	0.86	0.85	-0.56	0.85	0.23	0.98		0.94	0.95	0.61	GOGL34
AMZO34	0.79	0.89	-0.64	0.91	0.22	0.94	0.94		0.95	0.77	AMZO34
H1SB34	0.84	0.84	-0.66	0.84	0.18	0.93	0.95	0.95		0.73	H1SB34
BERK34	0.49	0.73	-0.7	0.74	0.1	0.61	0.61	0.77	0.73		BERK34
	TSMC34	AAPL34	BABA34	MSFT34	B1SA34	GOGL35	GOGL34	AMZO34	H1SB34	BERK34

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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

GOGL34	+ 0.98	GOGL35
H1SB34	+ 0.95	GOGL34
H1SB34	+ 0.95	AMZO34
MSFT34	+ 0.94	AAPL34
AMZO34	+ 0.94	GOGL35
AMZO34	+ 0.94	GOGL34

High negative correlations

BERK34	- 0.7	BABA34
H1SB34	- 0.66	BABA34
AMZO34	- 0.64	BABA34
GOGL35	- 0.58	BABA34
GOGL34	- 0.56	BABA34
MSFT34	- 0.48	BABA34

Risk-Adjusted Indicators

There is a big difference between Atmos Stock performing well and Atmos Energy 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 Atmos Energy'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
TSMC34	2.09	0.34	0.15	1.33	1.94	(2.50)	6.04	(3.58)	15.94
AAPL34	1.15	0.13	0.06	(2.64)	1.48	(1.11)	2.24	(2.74)	6.24
BABA34	1.88	(0.23)	0.00	1.51	0.00	0.00	4.39	(3.29)	10.60
MSFT34	1.12	0.18	0.09	(3.83)	1.51	(1.18)	2.55	(2.46)	8.17
B1SA34	1.01	0.05	0.02	(0.72)	1.02	(1.24)	2.18	(1.66)	4.61
GOGL35	1.56	0.43	0.24	(1.62)	1.46	(1.86)	3.91	(2.04)	8.33
GOGL34	1.69	0.42	0.21	(1.86)	1.61	(2.05)	4.66	(2.83)	10.24
AMZO34	1.40	0.42	0.24	(12.04)	1.38	(1.64)	3.42	(2.32)	9.12
H1SB34	1.02	0.35	0.24	4.28	1.07	(1.18)	2.38	(1.99)	7.71
BERK34	0.96	0.16	0.11	0.40	1.15	(0.96)	1.88	(1.80)	7.63

Atmos Energy 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 Atmos Energy stock to make a market-neutral strategy. Peer analysis of Atmos Energy could also be used in its relative valuation, which is a method of valuing Atmos Energy by comparing valuation metrics with similar companies.

Taiwan Semiconductor Manufacturing Apple Inc Alibaba Group Holding Microsoft Banco Santander Chile Alphabet Alphabet Amazon Inc HSBC Holdings plc Berkshire Hathaway American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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