Duke Energy Correlations

DUK Stock

USD 119.31 1.45 1.20%

The current 90-days correlation between Duke Energy and Consolidated Edison is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Duke Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Duke Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Duke Energy Correlation With Market

Average diversification

The correlation between Duke Energy and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Duke 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 Duke 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 employment.

For more information on how to buy Duke Stock please use our How to buy in Duke Stock guide.

Moving together with Duke Stock

0.72	D	Dominion Energy	Pair Corr
0.96	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.85	ES	Eversource Energy	Pair Corr
0.76	HE	Hawaiian Electric	Pair Corr
0.94	SO	Southern	Pair Corr
0.86	ELPC	Companhia Paranaense	Pair Corr
0.88	ENIC	Enel Chile SA	Pair Corr
0.93	EVRG	Evergy,	Pair Corr
0.93	AEE	Ameren Corp	Pair Corr
0.93	AEP	American Electric Power Sell-off Trend	Pair Corr
0.9	CMS	CMS Energy	Pair Corr
0.89	CNP	CenterPoint Energy	Pair Corr
0.88	DTE	DTE Energy	Pair Corr
0.87	ELP	Companhia Paranaense	Pair Corr
0.79	ETR	Entergy	Pair Corr
0.94	EXC	Exelon	Pair Corr
0.95	FTS	Fortis Inc	Pair Corr
0.86	IDA	IDACORP	Pair Corr
0.67	KEP	Korea Electric Power	Pair Corr
0.88	LNT	Alliant Energy Corp	Pair Corr
0.86	NGG	National Grid PLC	Pair Corr
0.83	NWE	NorthWestern	Pair Corr
0.9	OGE	OGE Energy	Pair Corr
0.94	PNW	Pinnacle West Capital	Pair Corr
0.96	PPL	PPL Corporation	Pair Corr
0.96	WEC	WEC Energy Group Sell-off Trend	Pair Corr
0.81	XEL	Xcel Energy Sell-off Trend	Pair Corr
0.86	DUK-PA	Duke Energy	Pair Corr

Moving against Duke Stock

0.66	EIX	Edison International Sell-off Trend	Pair Corr
0.63	EDN	Empresa Distribuidora	Pair Corr
0.6	PCG	PGE Corp Aggressive Push	Pair Corr
0.43	CMS-PC	CMS Energy	Pair Corr
0.41	GNE	Genie Energy	Pair Corr
0.89	VSTEW	Vast Renewables	Pair Corr
0.85	CEPU	Central Puerto SA	Pair Corr
0.66	PCG-PD	Pacific Gas	Pair Corr
0.64	PEG	Public Service Enterprise	Pair Corr
0.64	PCG-PE	Pacific Gas	Pair Corr
0.52	SCE-PG	SCE Trust II	Pair Corr
0.48	SCE-PL	SCE Trust VI	Pair Corr
0.44	PCG-PB	Pacific Gas	Pair Corr

Related Correlations Analysis

	ED	D	AEP	NEE	SO	EXC	EIX
ED		0.66	0.9	0.34	0.96	0.9	-0.58	ED
D	0.66		0.79	0.13	0.74	0.77	-0.6	D
AEP	0.9	0.79		0.07	0.92	0.98	-0.81	AEP
NEE	0.34	0.13	0.07		0.33	0.02	0.37	NEE
SO	0.96	0.74	0.92	0.33		0.92	-0.57	SO
EXC	0.9	0.77	0.98	0.02	0.92		-0.8	EXC
EIX	-0.58	-0.6	-0.81	0.37	-0.57	-0.8		EIX
	ED	D	AEP	NEE	SO	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
SO	+ 0.96	ED
SO	+ 0.92	AEP
EXC	+ 0.92	SO
AEP	+ 0.9	ED
EXC	+ 0.9	ED

High negative correlations

EIX	- 0.81	AEP
EIX	- 0.8	EXC
EIX	- 0.6	D
EIX	- 0.58	ED
EIX	- 0.57	SO

Risk-Adjusted Indicators

There is a big difference between Duke Stock performing well and Duke 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 Duke 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
ED	1.10	0.23	0.25	1.13	1.04	(1.28)	2.61	(2.05)	7.44
D	1.10	0.04	0.05	0.05	2.06	(0.91)	2.39	(2.58)	8.67
AEP	0.98	0.19	0.20	1.61	1.11	(0.99)	1.98	(1.95)	7.23
NEE	1.38	(0.03)	0.00	(0.28)	0.00	0.00	3.01	(2.80)	9.68
SO	1.04	0.13	0.14	0.60	1.36	(0.99)	2.38	(2.14)	7.03
EXC	0.90	0.31	0.28	0.87	0.88	(0.94)	2.02	(1.95)	6.50
EIX	1.88	(0.43)	0.00	(1.18)	0.00	0.00	3.44	(6.33)	13.93

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