Aris Water Correlations

ARIS Stock

USD 25.81 0.69 2.60%

The current 90-days correlation between Aris Water Solutions and Middlesex Water is -0.1 (i.e., Good diversification). The correlation of Aris Water 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aris Water Correlation With Market

Modest diversification

The correlation between Aris Water Solutions and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aris Water Solutions and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Aris Water Solutions. 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.

Moving together with Aris Stock

0.62	AEE	Ameren Corp	Pair Corr
0.63	ALE	Allete Inc	Pair Corr

Moving against Aris Stock

0.36	PCYO	Pure Cycle	Pair Corr
0.58	EDN	Empresa Distribuidora	Pair Corr
0.55	AES	AES Aggressive Push	Pair Corr
0.53	EIX	Edison International Sell-off Trend	Pair Corr
0.39	BEP	Brookfield Renewable	Pair Corr
0.37	XIFR	XPLR Infrastructure Symbol Change	Pair Corr

Related Correlations Analysis

	MSEX	CWT	GWRS	AWR	ARTNA	SJW	YORW	CWCO
MSEX		0.96	0.91	0.96	0.93	0.74	0.92	-0.05	MSEX
CWT	0.96		0.85	0.95	0.97	0.87	0.95	0.12	CWT
GWRS	0.91	0.85		0.84	0.79	0.58	0.75	-0.02	GWRS
AWR	0.96	0.95	0.84		0.93	0.76	0.96	-0.1	AWR
ARTNA	0.93	0.97	0.79	0.93		0.89	0.97	0.15	ARTNA
SJW	0.74	0.87	0.58	0.76	0.89		0.87	0.4	SJW
YORW	0.92	0.95	0.75	0.96	0.97	0.87		0.07	YORW
CWCO	-0.05	0.12	-0.02	-0.1	0.15	0.4	0.07		CWCO
	MSEX	CWT	GWRS	AWR	ARTNA	SJW	YORW	CWCO

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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

ARTNA	+ 0.97	CWT
YORW	+ 0.97	ARTNA
CWT	+ 0.96	MSEX
AWR	+ 0.96	MSEX
YORW	+ 0.96	AWR
AWR	+ 0.95	CWT

High negative correlations

CWCO	- 0.1	AWR
CWCO	- 0.05	MSEX
CWCO	- 0.02	GWRS

Risk-Adjusted Indicators

There is a big difference between Aris Stock performing well and Aris Water 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 Aris Water'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
MSEX	1.27	(0.33)	0.00	(0.66)	0.00	0.00	2.69	(2.82)	7.81
CWT	1.12	(0.11)	0.00	(0.20)	0.00	0.00	2.14	(2.47)	6.79
GWRS	1.27	(0.16)	0.00	(0.32)	0.00	0.00	2.46	(3.04)	6.86
AWR	1.02	(0.13)	0.00	(0.23)	0.00	0.00	2.28	(2.35)	6.73
ARTNA	1.12	(0.06)	0.00	(0.28)	0.00	0.00	2.27	(2.86)	6.25
SJW	1.28	0.00	0.00	0.01	1.69	(1.29)	3.31	(2.32)	8.48
YORW	0.91	(0.08)	0.00	(0.33)	0.00	0.00	2.39	(1.83)	6.65
CWCO	1.26	0.08	0.05	0.12	1.47	(1.39)	2.38	(2.01)	9.49

Aris Water Corporate Management

JD Hunt	Chief Secretary	Profile
Dustin Hatley	Chief Officer	Profile
Dylan Brunt	Chief Officer	Profile
Adrian Milton	Chief Counsel	Profile
William Zartler	Founder Chairman	Profile
Lisa PE	Chief Scientist	Profile

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