Energy Of Correlations

CIG-C Stock

USD 2.54 0.08 3.05%

The current 90-days correlation between Energy of Minas and Atco is -0.01 (i.e., Good diversification). The correlation of Energy Of 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.

Energy Of Correlation With Market

Average diversification

The correlation between Energy of Minas and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy of Minas 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 Energy of Minas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Energy Stock

0.9	ELPC	Companhia Paranaense	Pair Corr
0.83	ALE	Allete Inc	Pair Corr
0.63	AVA	Avista	Pair Corr
0.81	CIG	Companhia Energetica	Pair Corr
0.91	ELP	Companhia Paranaense	Pair Corr
0.62	UTL	UNITIL	Pair Corr
0.67	BIP-PA	Brookfield Infrastructure	Pair Corr
0.8	OTTR	Otter Tail	Pair Corr
0.73	D	Dominion Energy	Pair Corr
0.76	ED	Consolidated Edison	Pair Corr
0.81	ES	Eversource Energy	Pair Corr
0.61	HE	Hawaiian Electric	Pair Corr
0.83	NI	NiSource	Pair Corr
0.77	SO	Southern	Pair Corr
0.87	SR	Spire Inc	Pair Corr
0.88	DUKB	Duke Energy Corp	Pair Corr
0.72	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.89	ENIC	Enel Chile SA	Pair Corr
0.9	EVRG	Evergy,	Pair Corr
0.87	AEE	Ameren Corp	Pair Corr
0.88	AEP	American Electric Power	Pair Corr
0.76	AQN	Algonquin Power Utilities	Pair Corr
0.81	ATO	Atmos Energy	Pair Corr

Moving against Energy Stock

0.85	VSTE	Vast Renewables	Pair Corr
0.66	AES	AES Aggressive Push	Pair Corr
0.59	RNWWW	ReNew Energy Global	Pair Corr
0.51	SRE	Sempra Energy	Pair Corr
0.36	CMS-PC	CMS Energy	Pair Corr
0.8	EIX	Edison International	Pair Corr
0.69	WAVE	Eco Wave Power	Pair Corr
0.5	EDN	Empresa Distribuidora	Pair Corr
0.34	ELLO	Ellomay Capital	Pair Corr

Related Correlations Analysis

	ACLLF	CMNR	ARAO	AESC	CDUAF	EONGY	ENGIY	AES	SRE	ELP
ACLLF		0.0	0.0	0.0	0.89	0.0	0.55	0.08	-0.33	0.56	ACLLF
CMNR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CMNR
ARAO	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ARAO
AESC	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AESC
CDUAF	0.89	0.0	0.0	0.0		0.0	0.6	0.28	-0.43	0.46	CDUAF
EONGY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EONGY
ENGIY	0.55	0.0	0.0	0.0	0.6	0.0		-0.14	-0.9	0.68	ENGIY
AES	0.08	0.0	0.0	0.0	0.28	0.0	-0.14		0.16	-0.52	AES
SRE	-0.33	0.0	0.0	0.0	-0.43	0.0	-0.9	0.16		-0.54	SRE
ELP	0.56	0.0	0.0	0.0	0.46	0.0	0.68	-0.52	-0.54		ELP
	ACLLF	CMNR	ARAO	AESC	CDUAF	EONGY	ENGIY	AES	SRE	ELP

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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

CDUAF	+ 0.89	ACLLF
ELP	+ 0.68	ENGIY
ENGIY	+ 0.6	CDUAF
ELP	+ 0.56	ACLLF
ENGIY	+ 0.55	ACLLF
ELP	+ 0.46	CDUAF

High negative correlations

SRE	- 0.9	ENGIY
ELP	- 0.54	SRE
ELP	- 0.52	AES
SRE	- 0.43	CDUAF
SRE	- 0.33	ACLLF
AES	- 0.14	ENGIY

Risk-Adjusted Indicators

There is a big difference between Energy Stock performing well and Energy Of 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 Energy Of'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
ACLLF	0.89	0.06	0.10	0.11	1.02	(0.90)	1.83	(1.70)	4.60
CMNR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARAO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AESC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CDUAF	0.70	0.04	0.09	0.07	0.91	(0.73)	1.71	(1.53)	4.97
EONGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENGIY	0.83	0.27	0.34	(2.81)	0.75	(1.05)	1.97	(1.55)	5.49
AES	2.08	(0.07)	0.00	0.03	0.00	0.00	4.49	(4.24)	15.11
SRE	1.47	(0.29)	0.00	1.94	0.00	0.00	1.91	(3.60)	24.49
ELP	1.71	0.28	0.14	1.56	2.24	(1.72)	3.42	(4.03)	8.80

Energy Of Corporate Management

Marco Soligo	VPEquity Transmission	Profile
Leonardo Mesquita	Accounting Manager	Profile
Cristiana Silva	Regulatory Affairs	Profile
Marney Antunes	Chief Board	Profile
Thadeu Silva	Chief Board	Profile
Paulo Guimares	Head Finance	Profile
Cristiana Pereira	Deputy Sustainability	Profile

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