Central Puerto Correlations

CEPU Stock

USD 12.56 0.30 2.45%

The current 90-days correlation between Central Puerto SA and MGE Energy is -0.1 (i.e., Good diversification). The correlation of Central Puerto 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.

Central Puerto Correlation With Market

Good diversification

The correlation between Central Puerto SA and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Central Puerto SA 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 Central Puerto SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Central Stock

0.87	VSTE	Vast Renewables	Pair Corr
0.65	PCG-PE	Pacific Gas	Pair Corr

Moving against Central Stock

0.92	SO	Southern	Pair Corr
0.91	AEP	American Electric Power	Pair Corr
0.89	CMS	CMS Energy	Pair Corr
0.88	ED	Consolidated Edison	Pair Corr
0.88	AEE	Ameren Corp	Pair Corr
0.87	DUK	Duke Energy	Pair Corr
0.85	EVRG	Evergy,	Pair Corr
0.84	DTE	DTE Energy	Pair Corr
0.8	ES	Eversource Energy	Pair Corr
0.79	HE	Hawaiian Electric	Pair Corr
0.79	EBR	Centrais Electricas	Pair Corr
0.76	CMS-PB	Consumers Energy	Pair Corr
0.74	CNP	CenterPoint Energy	Pair Corr
0.69	ENIC	Enel Chile SA	Pair Corr
0.59	D	Dominion Energy	Pair Corr
0.32	PCG-PC	Pacific Gas	Pair Corr
0.89	EXC	Exelon	Pair Corr
0.88	OGE	OGE Energy	Pair Corr
0.88	PNW	Pinnacle West Capital	Pair Corr
0.85	IDA	IDACORP	Pair Corr
0.84	FTS	Fortis Inc	Pair Corr
0.84	PPL	PPL Corporation	Pair Corr
0.83	VIASP	Via Renewables	Pair Corr
0.79	LNT	Alliant Energy Corp	Pair Corr
0.77	KEP	Korea Electric Power	Pair Corr
0.77	XEL	Xcel Energy	Pair Corr
0.76	WEC	WEC Energy Group	Pair Corr
0.75	ETR	Entergy	Pair Corr

Related Correlations Analysis

	KEP	EBR	MGEE	IDA	ENIC	EBR-B	CMS	GNE	EDN	ETI-P
KEP		0.73	0.08	0.74	0.69	0.75	0.77	-0.39	-0.41	0.6	KEP
EBR	0.73		0.04	0.81	0.53	0.99	0.86	-0.36	-0.26	0.78	EBR
MGEE	0.08	0.04		0.37	0.07	0.02	0.33	0.54	0.11	-0.18	MGEE
IDA	0.74	0.81	0.37		0.67	0.81	0.95	-0.18	-0.35	0.69	IDA
ENIC	0.69	0.53	0.07	0.67		0.6	0.64	-0.39	-0.6	0.54	ENIC
EBR-B	0.75	0.99	0.02	0.81	0.6		0.85	-0.41	-0.28	0.78	EBR-B
CMS	0.77	0.86	0.33	0.95	0.64	0.85		-0.16	-0.3	0.7	CMS
GNE	-0.39	-0.36	0.54	-0.18	-0.39	-0.41	-0.16		0.48	-0.51	GNE
EDN	-0.41	-0.26	0.11	-0.35	-0.6	-0.28	-0.3	0.48		-0.3	EDN
ETI-P	0.6	0.78	-0.18	0.69	0.54	0.78	0.7	-0.51	-0.3		ETI-P
	KEP	EBR	MGEE	IDA	ENIC	EBR-B	CMS	GNE	EDN	ETI-P

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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

EBR-B	+ 0.99	EBR
CMS	+ 0.95	IDA
CMS	+ 0.86	EBR
CMS	+ 0.85	EBR-B
IDA	+ 0.81	EBR
EBR-B	+ 0.81	IDA

High negative correlations

EDN	- 0.6	ENIC
ETI-P	- 0.51	GNE
GNE	- 0.41	EBR-B
EDN	- 0.41	KEP
GNE	- 0.39	ENIC
GNE	- 0.39	KEP

Risk-Adjusted Indicators

There is a big difference between Central Stock performing well and Central Puerto 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 Central Puerto'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
KEP	1.41	0.07	0.07	(0.41)	1.96	(1.69)	3.50	(2.44)	12.25
EBR	1.30	0.46	0.37	(13.96)	0.85	(1.61)	3.35	(1.75)	6.82
MGEE	1.13	(0.05)	0.00	0.38	0.00	0.00	2.35	(2.37)	9.22
IDA	0.85	0.08	0.09	0.59	1.31	(0.82)	1.57	(1.70)	6.15
ENIC	1.30	0.25	0.14	0.50	1.74	(1.42)	2.91	(3.06)	8.25
EBR-B	1.41	0.45	0.24	1.00	1.44	(1.63)	3.54	(2.98)	9.26
CMS	0.82	0.18	0.17	1.58	1.05	(0.81)	1.80	(1.82)	4.73
GNE	1.25	(0.03)	0.00	(0.41)	0.00	0.00	3.18	(3.04)	7.88
EDN	3.12	(0.41)	0.00	(0.32)	0.00	0.00	5.55	(8.17)	21.66
ETI-P	0.68	0.09	0.16	(4.37)	0.71	(0.84)	1.65	(1.31)	4.55

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