CMS Energy Correlations

CMSA Stock

USD 24.78 0.03 0.12%

The current 90-days correlation between CMS Energy Corp and CMS Energy Corp is 0.53 (i.e., Very weak diversification). The correlation of CMS 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.

CMS Energy Correlation With Market

Good diversification

The correlation between CMS Energy Corp and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMS Energy Corp 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 CMS Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For information on how to trade CMS Stock refer to our How to Trade CMS Stock guide.

Moving together with CMS Stock

0.71	CMSD	CMS Energy Corp	Pair Corr
0.61	CMSC	CMS Energy Corp	Pair Corr
0.7	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.74	ES	Eversource Energy	Pair Corr
0.75	FE	FirstEnergy	Pair Corr
0.79	RNWWW	ReNew Energy Global	Pair Corr
0.69	ELPC	Companhia Paranaense Downward Rally	Pair Corr
0.8	AEP	American Electric Power	Pair Corr
0.78	AES	AES	Pair Corr
0.82	AQN	Algonquin Power Utilities	Pair Corr
0.85	AWK	American Water Works	Pair Corr

Moving against CMS Stock

0.69	CDZIP	Cadiz Depositary Shares	Pair Corr
0.6	ELLO	Ellomay Capital	Pair Corr
0.57	ADN	Advent Technologies	Pair Corr
0.5	AY	Atlantica Sustainable	Pair Corr
0.47	NI	NiSource	Pair Corr
0.43	VGAS	Verde Clean Fuels	Pair Corr
0.39	ENIC	Enel Chile SA	Pair Corr
0.55	EDN	Empresa Distribuidora	Pair Corr
0.42	AEE	Ameren Corp	Pair Corr
0.42	ALE	Allete Inc	Pair Corr
0.38	CNP	CenterPoint Energy	Pair Corr
0.37	ATO	Atmos Energy	Pair Corr

Related Correlations Analysis

	CMSC	DTW	CMSD	SOJC	DUKB
CMSC		0.62	0.85	0.69	0.59	CMSC
DTW	0.62		0.61	0.9	0.76	DTW
CMSD	0.85	0.61		0.73	0.62	CMSD
SOJC	0.69	0.9	0.73		0.66	SOJC
DUKB	0.59	0.76	0.62	0.66		DUKB
	CMSC	DTW	CMSD	SOJC	DUKB

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Risk-Adjusted Indicators

There is a big difference between CMS Stock performing well and CMS 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 CMS 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
CMSC	0.31	(0.01)	(0.29)	0.37	0.42	(0.30)	0.69	(0.65)	1.43
DTW	0.50	(0.05)	0.00	(0.41)	0.00	0.00	0.99	(1.07)	2.84
CMSD	0.35	(0.01)	(0.24)	(0.38)	0.47	(0.36)	0.74	(0.70)	1.95
SOJC	0.44	(0.06)	0.00	(0.38)	0.00	0.00	0.87	(1.10)	2.94
DUKB	0.36	(0.02)	0.00	(0.16)	0.00	0.00	0.64	(0.68)	1.80

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