CenterPoint Energy Correlations

CNP Stock

USD 32.62 0.04 0.12%

The current 90-days correlation between CenterPoint Energy and DTE Energy is 0.37 (i.e., Weak diversification). The correlation of CenterPoint 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CenterPoint Energy. 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.

To learn how to invest in CenterPoint Stock, please use our How to Invest in CenterPoint Energy guide.

Moving together with CenterPoint Stock

0.78	EVRG	Evergy,	Pair Corr
0.96	AEE	Ameren Corp	Pair Corr
0.8	AGR	Avangrid	Pair Corr
0.77	EDN	Empresa Distribuidora	Pair Corr
0.85	ETR	Entergy	Pair Corr
0.72	IDA	IDACORP	Pair Corr
0.8	LNT	Alliant Energy Corp	Pair Corr
0.85	OGE	OGE Energy	Pair Corr
0.76	PCG	PGE Corp Aggressive Push	Pair Corr
0.85	PEG	Public Service Enterprise	Pair Corr
0.61	PNW	Pinnacle West Capital	Pair Corr
0.86	PPL	PPL Corporation Sell-off Trend	Pair Corr
0.85	TLN	Talen Energy	Pair Corr
0.88	WEC	WEC Energy Group	Pair Corr
0.83	XEL	Xcel Energy Fiscal Year End 23rd of January 2025	Pair Corr

Moving against CenterPoint Stock

0.61	GNE	Genie Energy	Pair Corr
0.54	ES	Eversource Energy	Pair Corr
0.49	FE	FirstEnergy Sell-off Trend	Pair Corr
0.41	AEP	American Electric Power Sell-off Trend	Pair Corr
0.4	HE	Hawaiian Electric	Pair Corr
0.58	NGG	National Grid PLC	Pair Corr
0.35	NEE	Nextera Energy Aggressive Push	Pair Corr

Related Correlations Analysis

	DTE	LNT	AEE	PNW	FE	EIX	PEG	CMS	MGEE	EVRG
DTE		0.39	-0.07	-0.27	0.67	0.58	0.38	0.89	-0.4	-0.12	DTE
LNT	0.39		0.79	0.59	-0.02	0.6	0.77	0.62	0.6	0.77	LNT
AEE	-0.07	0.79		0.71	-0.52	0.19	0.78	0.25	0.89	0.86	AEE
PNW	-0.27	0.59	0.71		-0.24	0.32	0.34	-0.01	0.83	0.92	PNW
FE	0.67	-0.02	-0.52	-0.24		0.58	-0.25	0.45	-0.61	-0.3	FE
EIX	0.58	0.6	0.19	0.32	0.58		0.31	0.52	0.04	0.36	EIX
PEG	0.38	0.77	0.78	0.34	-0.25	0.31		0.64	0.52	0.56	PEG
CMS	0.89	0.62	0.25	-0.01	0.45	0.52	0.64		-0.09	0.17	CMS
MGEE	-0.4	0.6	0.89	0.83	-0.61	0.04	0.52	-0.09		0.88	MGEE
EVRG	-0.12	0.77	0.86	0.92	-0.3	0.36	0.56	0.17	0.88		EVRG
	DTE	LNT	AEE	PNW	FE	EIX	PEG	CMS	MGEE	EVRG

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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

EVRG	+ 0.92	PNW
CMS	+ 0.89	DTE
MGEE	+ 0.89	AEE
EVRG	+ 0.88	MGEE
EVRG	+ 0.86	AEE
MGEE	+ 0.83	PNW

High negative correlations

MGEE	- 0.61	FE
FE	- 0.52	AEE
MGEE	- 0.4	DTE
EVRG	- 0.3	FE
PNW	- 0.27	DTE
PEG	- 0.25	FE

Risk-Adjusted Indicators

There is a big difference between CenterPoint Stock performing well and CenterPoint 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 CenterPoint 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
DTE	0.79	0.01	(0.07)	0.31	1.38	(0.66)	1.44	(2.13)	5.21
LNT	0.91	0.14	0.02	14.37	1.00	(1.05)	2.04	(1.89)	5.81
AEE	0.84	0.19	0.10	1.33	0.60	(1.02)	1.91	(1.39)	6.03
PNW	0.84	0.07	0.00	0.30	0.80	(0.92)	1.99	(1.48)	4.99
FE	0.69	(0.05)	0.00	(0.29)	0.00	0.00	1.09	(1.48)	3.72
EIX	0.83	0.04	(0.07)	0.34	0.96	(0.85)	1.77	(1.59)	3.77
PEG	1.04	0.20	0.07	0.59	1.45	(1.08)	2.31	(2.23)	10.21
CMS	0.71	0.05	(0.06)	0.92	1.03	(0.67)	1.34	(1.88)	3.94
MGEE	1.06	0.17	0.16	0.27	0.84	(1.24)	2.96	(1.77)	9.44
EVRG	0.67	0.13	0.03	0.98	0.63	(0.73)	1.53	(1.22)	3.30

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CenterPoint Energy Correlations

Moving together with CenterPoint Stock

Moving against CenterPoint Stock

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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