DTE Energy Correlations

DTG Stock

USD 19.41 0.16 0.83%

The current 90-days correlation between DTE Energy and Kanzhun Ltd ADR is 0.09 (i.e., Significant 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

Average diversification

The correlation between DTE 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 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 more detail on how to invest in DTE Stock please use our How to Invest in DTE Energy guide.

Moving together with DTE Stock

0.66	CMS-PB	Consumers Energy	Pair Corr
0.76	CMS-PC	CMS Energy	Pair Corr
0.98	DTB	DTE Energy	Pair Corr
0.66	BEP-PA	Brookfield Renewable	Pair Corr
0.96	SOJE	Southern Company	Pair Corr
0.83	SOJC	Southern	Pair Corr
0.81	NEE-PN	Nextera Energy	Pair Corr
0.87	NEE-PS	NextEra Energy,	Pair Corr
0.72	NEE-PR	Nextera Energy	Pair Corr
0.73	SUUN	SolarBank Common	Pair Corr
0.74	BFAM	Bright Horizons Family	Pair Corr

Moving against DTE Stock

0.83	EONGY	EON SE ADR	Pair Corr
0.75	CDZIP	Cadiz Depositary Shares	Pair Corr
0.72	VIASP	Via Renewables	Pair Corr
0.71	CGBSW	Crown LNG Holdings	Pair Corr
0.71	PCG-PI	Pacific Gas	Pair Corr
0.63	PCG-PC	Pacific Gas	Pair Corr
0.46	TLN	Talen Energy	Pair Corr
0.38	VSTEW	Vast Renewables	Pair Corr
0.31	HLGN	Heliogen	Pair Corr
0.78	VIVHY	Vivendi SA PK	Pair Corr
0.78	SCI	Service International	Pair Corr
0.72	MCW	Mister Car Wash	Pair Corr
0.67	FTDR	Frontdoor	Pair Corr
0.58	BEPJ	Brookfield Renewable Potential Growth	Pair Corr
0.54	BYDGF	Boyd Group Services	Pair Corr
0.43	DSEY	Diversey Holdings	Pair Corr

Related Correlations Analysis

	BZ	SAH	CAR	DRQ	DTB
BZ		-0.31	0.07	-0.22	0.44	BZ
SAH	-0.31		0.8	-0.4	-0.74	SAH
CAR	0.07	0.8		-0.5	-0.59	CAR
DRQ	-0.22	-0.4	-0.5		0.48	DRQ
DTB	0.44	-0.74	-0.59	0.48		DTB
	BZ	SAH	CAR	DRQ	DTB

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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

CAR	+ 0.8	SAH
DTB	+ 0.48	DRQ
DTB	+ 0.44	BZ
CAR	+ 0.07	BZ

High negative correlations

DTB	- 0.74	SAH
DTB	- 0.59	CAR
DRQ	- 0.5	CAR
DRQ	- 0.4	SAH
SAH	- 0.31	BZ
DRQ	- 0.22	BZ

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
BZ	3.19	(0.15)	0.00	(0.03)	0.00	0.00	7.36	(6.06)	28.38
SAH	1.84	(0.07)	0.04	0.08	1.80	(2.28)	4.60	(3.31)	13.17
CAR	2.87	0.09	0.09	0.15	2.99	(3.28)	6.48	(5.52)	16.84
DRQ	1.89	(0.09)	0.00	1.30	0.00	0.00	3.57	(4.30)	12.98
DTB	0.61	(0.08)	0.00	(0.26)	0.00	0.00	1.07	(1.24)	4.70

DTE Energy Corporate Management

James Vandenberghe	Independent Director	Profile
Robert Skaggs	Independent Director	Profile
Matthew Paul	Executive Vice President - DTE Electric	Profile
Marco Bruzzano	Senior Vice President - Corporate Strategy and Regulatory Affairs	Profile

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