American States Correlations
AWR Stock | USD 85.37 0.02 0.02% |
The current 90-days correlation between American States Water and SJW Group Common is 0.76 (i.e., Poor diversification). The correlation of American States 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.
American States Correlation With Market
Average diversification
The correlation between American States Water and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American States Water and DJI in the same portfolio, assuming nothing else is changed.
American |
Moving together with American Stock
0.67 | MSEX | Middlesex Water | PairCorr |
0.66 | AY | Atlantica Sustainable | PairCorr |
0.7 | NI | NiSource | PairCorr |
0.66 | EVRG | Evergy, | PairCorr |
0.77 | AEE | Ameren Corp | PairCorr |
Moving against American Stock
0.51 | ES | Eversource Energy | PairCorr |
0.38 | FE | FirstEnergy | PairCorr |
0.37 | CWT | California Water Service | PairCorr |
0.31 | AWK | American Water Works | PairCorr |
0.52 | ELPC | Companhia Paranaense Downward Rally | PairCorr |
0.39 | AQN | Algonquin Power Utilities | PairCorr |
0.38 | AES | AES | PairCorr |
0.36 | RNWWW | ReNew Energy Global | PairCorr |
0.34 | AEP | American Electric Power | PairCorr |
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
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Risk-Adjusted Indicators
There is a big difference between American Stock performing well and American States 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 American States' 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 | ||
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MSEX | 1.40 | (0.01) | 0.00 | 0.11 | 1.59 | 3.16 | 10.55 | |||
SJW | 1.10 | (0.12) | 0.00 | (0.20) | 0.00 | 1.94 | 6.24 | |||
YORW | 0.98 | (0.19) | 0.00 | (0.08) | 0.00 | 2.07 | 6.17 | |||
ARTNA | 1.11 | (0.13) | 0.00 | (0.07) | 0.00 | 2.36 | 12.09 | |||
CWT | 0.98 | (0.15) | 0.00 | (0.13) | 0.00 | 1.88 | 6.56 | |||
GWRS | 1.44 | (0.10) | (0.04) | 0.04 | 1.61 | 2.72 | 8.02 | |||
AWK | 0.92 | (0.03) | 0.00 | 1.18 | 0.00 | 1.78 | 5.42 | |||
WTRG | 0.90 | (0.01) | (0.07) | 0.10 | 1.13 | 1.88 | 6.96 | |||
CWCO | 1.50 | (0.17) | (0.07) | (0.01) | 1.78 | 3.68 | 9.18 |