Centrais Elétricas Correlations

EBR-B Stock

USD 6.82 0.15 2.15%

The current 90-days correlation between Centrais Elétricas and Nextera Energy is -0.13 (i.e., Good diversification). The correlation of Centrais Elétricas 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.

Centrais Elétricas Correlation With Market

Average diversification

The correlation between Centrais Eltricas Brasileiras and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Centrais Eltricas Brasileiras 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 Centrais Eltricas Brasileiras. 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.

Moving together with Centrais Stock

0.78	RNWWW	ReNew Energy Global	Pair Corr
0.88	AQN	Algonquin Power Utilities	Pair Corr
0.79	NEP	Nextera Energy Partners Fiscal Year End 23rd of January 2025	Pair Corr
0.65	HTOOW	Fusion Fuel Green	Pair Corr
0.95	ALCE	Alternus Energy Group Symbol Change	Pair Corr
0.79	SUUN	SolarBank Common	Pair Corr
0.84	CREG	Smart Powerr Corp	Pair Corr
0.77	ES	Eversource Energy	Pair Corr
0.75	FE	FirstEnergy	Pair Corr

Moving against Centrais Stock

0.94	GEV	GE Vernova LLC Potential Growth	Pair Corr
0.89	AY	Atlantica Sustainable	Pair Corr
0.85	ORA	Ormat Technologies	Pair Corr
0.84	WAVE	Eco Wave Power	Pair Corr
0.8	NRGV	Energy Vault Holdings	Pair Corr
0.66	VGAS	Verde Clean Fuels	Pair Corr
0.66	ELLO	Ellomay Capital	Pair Corr
0.6	VGASW	Verde Clean Fuels	Pair Corr
0.58	ADN	Advent Technologies	Pair Corr
0.53	CEG	Constellation Energy Corp Downward Rally	Pair Corr
0.48	ADNWW	Advent Technologies	Pair Corr
0.86	AEE	Ameren Corp	Pair Corr
0.85	NI	NiSource	Pair Corr
0.85	CDZIP	Cadiz Depositary Shares	Pair Corr
0.64	AMPS	Altus Power	Pair Corr
0.6	EVRG	Evergy,	Pair Corr
0.42	BEPC	Brookfield Renewable Corp	Pair Corr
0.41	ENIC	Enel Chile SA	Pair Corr
0.38	VSTE	Vast Renewables Buyout Trend	Pair Corr
0.35	D	Dominion Energy	Pair Corr
0.35	WTRG	Essential Utilities	Pair Corr

Related Correlations Analysis

	NEE-PR	CMS-PB	PCGU	DUK-PA	RDEIY	EGIEY	EBR	KEP	VIA	D
NEE-PR		0.38	-0.52	0.16	0.73	0.55	0.57	-0.3	0.61	0.34	NEE-PR
CMS-PB	0.38		-0.49	-0.02	0.06	-0.1	-0.12	-0.73	0.26	0.39	CMS-PB
PCGU	-0.52	-0.49		0.33	-0.55	-0.54	-0.49	0.63	-0.57	0.16	PCGU
DUK-PA	0.16	-0.02	0.33		0.1	0.06	0.11	0.06	0.05	0.19	DUK-PA
RDEIY	0.73	0.06	-0.55	0.1		0.88	0.9	-0.24	0.76	-0.12	RDEIY
EGIEY	0.55	-0.1	-0.54	0.06	0.88		0.97	-0.21	0.76	-0.34	EGIEY
EBR	0.57	-0.12	-0.49	0.11	0.9	0.97		-0.14	0.76	-0.31	EBR
KEP	-0.3	-0.73	0.63	0.06	-0.24	-0.21	-0.14		-0.33	0.07	KEP
VIA	0.61	0.26	-0.57	0.05	0.76	0.76	0.76	-0.33		-0.14	VIA
D	0.34	0.39	0.16	0.19	-0.12	-0.34	-0.31	0.07	-0.14		D
	NEE-PR	CMS-PB	PCGU	DUK-PA	RDEIY	EGIEY	EBR	KEP	VIA	D

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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

EBR	+ 0.97	EGIEY
EBR	+ 0.9	RDEIY
EGIEY	+ 0.88	RDEIY
VIA	+ 0.76	RDEIY
VIA	+ 0.76	EGIEY
VIA	+ 0.76	EBR

High negative correlations

KEP	- 0.73	CMS-PB
VIA	- 0.57	PCGU
RDEIY	- 0.55	PCGU
EGIEY	- 0.54	PCGU
PCGU	- 0.52	NEE-PR
EBR	- 0.49	PCGU

Risk-Adjusted Indicators

There is a big difference between Centrais Stock performing well and Centrais Elétricas 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 Centrais Elétricas' 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
NEE-PR	1.05	0.04	(0.05)	(0.03)	2.05	(0.90)	1.49	(2.59)	17.47
CMS-PB	0.99	0.03	(0.06)	(0.57)	1.23	(1.20)	2.38	(2.00)	7.46
PCGU	0.84	0.11	(0.01)	(65.51)	1.15	(0.73)	1.84	(1.94)	6.36
DUK-PA	0.32	(0.01)	(0.31)	(0.06)	0.35	(0.37)	0.68	(0.64)	1.45
RDEIY	0.92	(0.02)	0.00	0.16	0.00	0.00	1.79	(2.08)	7.86
EGIEY	1.64	(0.41)	0.00	53.04	0.00	0.00	2.57	(3.44)	10.36
EBR	1.34	(0.37)	0.00	(1.92)	0.00	0.00	2.38	(3.44)	8.18
KEP	1.57	0.03	(0.04)	0.43	2.11	(1.72)	4.16	(3.00)	10.59
VIA	4.27	(1.13)	0.00	(2.57)	0.00	0.00	8.53	(11.17)	27.75
D	0.95	0.11	0.00	3.29	1.11	(1.02)	1.85	(1.96)	7.70

Centrais Elétricas Corporate Management

Renato Carreira	Management People	Profile
Marcella Solomon	Sec	Profile
Camila Araujo	Risks, Governance	Profile
Wilson Junior	Chief Officer	Profile
Elvira Presta	Chief CFO	Profile
Italo Filho	Energy Commercialization	Profile

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