DTE Energy Correlations

DTE Stock

USD 132.00 1.39 1.04%

The current 90-days correlation between DTE Energy and Alliant Energy Corp is 0.81 (i.e., Very poor diversification). The correlation of DTE 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.

DTE Energy Correlation With Market

Modest diversification

The correlation between DTE Energy and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DTE 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 DTE 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 estimate.

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

Moving together with DTE Stock

0.67	ES	Eversource Energy	Pair Corr
0.7	SO	Southern	Pair Corr
0.68	ENIC	Enel Chile SA Earnings Call Today	Pair Corr
0.83	EVRG	Evergy, Earnings Call Today	Pair Corr
0.74	AEE	Ameren Corp	Pair Corr
0.79	AEP	American Electric Power	Pair Corr
0.84	CMS	CMS Energy	Pair Corr
0.83	CNP	CenterPoint Energy	Pair Corr
0.63	DUK	Duke Energy	Pair Corr
0.71	EBR	Centrais Electricas	Pair Corr
0.72	ETR	Entergy	Pair Corr
0.78	EXC	Exelon	Pair Corr
0.71	LNT	Alliant Energy Corp Sell-off Trend	Pair Corr
0.73	OGE	OGE Energy	Pair Corr
0.71	PPL	PPL Corporation	Pair Corr
0.82	WEC	WEC Energy Group	Pair Corr
0.7	DUK-PA	Duke Energy	Pair Corr

Moving against DTE Stock

0.37	EIX	Edison International Sell-off Trend	Pair Corr
0.58	VSTEW	Vast Renewables	Pair Corr
0.4	PCG-PI	Pacific Gas	Pair Corr
0.32	SCE-PN	SCE Trust VIII	Pair Corr
0.31	PCG	PGE Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	LNT	AEE	CNP	PNW	FE	EIX	PEG	CMS	EVRG	ETR
LNT		0.58	0.53	0.91	0.88	0.12	0.51	0.87	0.74	0.3	LNT
AEE	0.58		0.78	0.54	0.45	-0.66	-0.11	0.69	0.95	0.86	AEE
CNP	0.53	0.78		0.33	0.31	-0.59	-0.16	0.62	0.77	0.83	CNP
PNW	0.91	0.54	0.33		0.92	0.2	0.54	0.81	0.71	0.17	PNW
FE	0.88	0.45	0.31	0.92		0.25	0.52	0.86	0.66	0.12	FE
EIX	0.12	-0.66	-0.59	0.2	0.25		0.64	-0.06	-0.49	-0.84	EIX
PEG	0.51	-0.11	-0.16	0.54	0.52	0.64		0.31	0.0	-0.26	PEG
CMS	0.87	0.69	0.62	0.81	0.86	-0.06	0.31		0.83	0.46	CMS
EVRG	0.74	0.95	0.77	0.71	0.66	-0.49	0.0	0.83		0.76	EVRG
ETR	0.3	0.86	0.83	0.17	0.12	-0.84	-0.26	0.46	0.76		ETR
	LNT	AEE	CNP	PNW	FE	EIX	PEG	CMS	EVRG	ETR

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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	+ 0.95	AEE
FE	+ 0.92	PNW
PNW	+ 0.91	LNT
FE	+ 0.88	LNT
CMS	+ 0.87	LNT
ETR	+ 0.86	AEE

High negative correlations

ETR	- 0.84	EIX
EIX	- 0.66	AEE
EIX	- 0.59	CNP
EVRG	- 0.49	EIX
ETR	- 0.26	PEG
PEG	- 0.16	CNP

Risk-Adjusted Indicators

There is a big difference between DTE Stock performing well and DTE 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 DTE 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
LNT	0.76	0.05	0.05	0.15	1.03	(0.83)	1.66	(1.88)	5.87
AEE	0.83	0.13	0.12	1.03	0.83	(0.94)	1.92	(1.60)	6.01
CNP	0.82	0.16	0.16	0.42	0.73	(0.90)	1.81	(1.74)	4.82
PNW	0.84	0.01	0.01	0.11	1.06	(0.86)	1.56	(1.75)	4.71
FE	0.82	0.06	0.05	(0.90)	1.00	(0.84)	1.77	(1.75)	5.99
EIX	1.72	(0.68)	0.00	(2.26)	0.00	0.00	2.52	(6.33)	13.93
PEG	0.93	(0.10)	0.00	(0.22)	0.00	0.00	2.25	(2.34)	9.33
CMS	0.71	0.09	0.07	(1.56)	1.03	(0.66)	1.60	(1.82)	4.61
EVRG	0.64	0.12	0.12	1.14	0.72	(0.65)	1.35	(1.59)	3.61
ETR	0.99	0.21	0.15	0.62	1.13	(1.08)	2.26	(1.85)	7.62

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