Dominion Energy Correlations

D Stock

USD 54.98 0.07 0.13%

The current 90-days correlation between Dominion Energy and Southern Company is 0.77 (i.e., Poor diversification). The correlation of Dominion 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.

Dominion Energy Correlation With Market

Average diversification

The correlation between Dominion Energy and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dominion Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dominion 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 unemployment.

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

Moving together with Dominion Stock

0.65	ED	Consolidated Edison	Pair Corr
0.83	ES	Eversource Energy	Pair Corr
0.74	SO	Southern	Pair Corr
0.71	ENIC	Enel Chile SA	Pair Corr
0.79	EVRG	Evergy,	Pair Corr
0.77	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.79	AEP	American Electric Power	Pair Corr
0.71	CMS	CMS Energy Sell-off Trend	Pair Corr
0.66	CNP	CenterPoint Energy	Pair Corr
0.69	DTE	DTE Energy	Pair Corr
0.72	DUK	Duke Energy	Pair Corr
0.65	EBR	Centrais Electricas	Pair Corr
0.73	ETR	Entergy Sell-off Trend	Pair Corr
0.78	EXC	Exelon	Pair Corr
0.7	FTS	Fortis Inc	Pair Corr
0.66	IDA	IDACORP	Pair Corr
0.74	LNT	Alliant Energy Corp	Pair Corr
0.78	OGE	OGE Energy	Pair Corr
0.73	PNW	Pinnacle West Capital	Pair Corr
0.79	PPL	PPL Corporation Sell-off Trend	Pair Corr
0.78	WEC	WEC Energy Group	Pair Corr
0.7	XEL	Xcel Energy	Pair Corr
0.68	DUK-PA	Duke Energy	Pair Corr

Moving against Dominion Stock

0.69	VSTE	Vast Renewables	Pair Corr
0.62	EIX	Edison International	Pair Corr
0.47	EDN	Empresa Distribuidora	Pair Corr
0.7	VSTEW	Vast Renewables	Pair Corr
0.56	PCG	PGE Corp Aggressive Push	Pair Corr
0.53	SCE-PG	SCE Trust II	Pair Corr
0.5	PCG-PH	Pacific Gas	Pair Corr
0.43	SCE-PL	SCE Trust VI	Pair Corr
0.43	PCG-PG	Pacific Gas	Pair Corr
0.38	PEG	Public Service Enterprise	Pair Corr
0.33	SCE-PJ	SCE Trust IV	Pair Corr

Related Correlations Analysis

	SO	AEP	NEE	ED	DUK	EXC	EIX
SO		0.93	0.34	0.95	0.94	0.92	-0.58	SO
AEP	0.93		0.08	0.9	0.93	0.98	-0.81	AEP
NEE	0.34	0.08		0.33	0.25	0.05	0.34	NEE
ED	0.95	0.9	0.33		0.96	0.91	-0.58	ED
DUK	0.94	0.93	0.25	0.96		0.95	-0.67	DUK
EXC	0.92	0.98	0.05	0.91	0.95		-0.79	EXC
EIX	-0.58	-0.81	0.34	-0.58	-0.67	-0.79		EIX
	SO	AEP	NEE	ED	DUK	EXC	EIX

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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

EXC	+ 0.98	AEP
DUK	+ 0.96	ED
ED	+ 0.95	SO
EXC	+ 0.95	DUK
DUK	+ 0.94	SO
AEP	+ 0.93	SO

High negative correlations

EIX	- 0.81	AEP
EIX	- 0.79	EXC
EIX	- 0.67	DUK
EIX	- 0.58	ED
EIX	- 0.58	SO

Risk-Adjusted Indicators

There is a big difference between Dominion Stock performing well and Dominion 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 Dominion 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
SO	1.03	0.14	0.13	0.78	1.34	(0.99)	2.38	(2.14)	7.03
AEP	0.96	0.20	0.20	2.30	1.06	(0.99)	1.98	(1.95)	7.23
NEE	1.38	(0.04)	0.00	(0.30)	0.00	0.00	3.01	(2.80)	9.68
ED	1.08	0.25	0.26	1.56	0.94	(1.28)	2.61	(1.91)	7.44
DUK	0.90	0.15	0.19	1.01	0.95	(0.94)	1.65	(1.90)	4.59
EXC	0.88	0.32	0.29	1.03	0.83	(0.91)	2.02	(1.95)	6.50
EIX	1.87	(0.43)	0.00	(1.17)	0.00	0.00	3.44	(6.33)	13.93

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