Empresa Distribuidora Correlations

EDN Stock

USD 34.53 0.86 2.55%

The current 90-days correlation between Empresa Distribuidora and Enel Chile SA is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Empresa Distribuidora moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Empresa Distribuidora y moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Empresa Distribuidora Correlation With Market

Weak diversification

The correlation between Empresa Distribuidora y and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Empresa Distribuidora y 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 Empresa Distribuidora y. 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.

Moving together with Empresa Stock

0.77	CMS-PC	CMS Energy	Pair Corr
0.71	VSTE	Vast Renewables	Pair Corr
0.68	EIX	Edison International	Pair Corr
0.64	PCG	PGE Corp	Pair Corr
0.62	VSTEW	Vast Renewables	Pair Corr

Moving against Empresa Stock

0.74	ED	Consolidated Edison	Pair Corr
0.74	AEP	American Electric Power	Pair Corr
0.72	EXC	Exelon	Pair Corr
0.7	AEE	Ameren Corp	Pair Corr
0.69	SO	Southern	Pair Corr
0.69	EBR	Centrais Electricas	Pair Corr
0.68	DUK	Duke Energy	Pair Corr
0.68	ETR	Entergy	Pair Corr
0.67	CNP	CenterPoint Energy	Pair Corr
0.65	CMS	CMS Energy	Pair Corr
0.65	DTE	DTE Energy	Pair Corr
0.63	EVRG	Evergy,	Pair Corr
0.62	CMS-PB	Consumers Energy	Pair Corr
0.62	FTS	Fortis Inc	Pair Corr
0.6	ENIC	Enel Chile SA	Pair Corr
0.51	ES	Eversource Energy	Pair Corr
0.41	D	Dominion Energy	Pair Corr
0.37	HE	Hawaiian Electric	Pair Corr
0.73	WEC	WEC Energy Group	Pair Corr
0.69	OGE	OGE Energy	Pair Corr
0.65	PNW	Pinnacle West Capital	Pair Corr
0.64	PPL	PPL Corporation	Pair Corr
0.62	ETI-P	Entergy Texas	Pair Corr
0.6	LNT	Alliant Energy Corp	Pair Corr
0.58	DUK-PA	Duke Energy	Pair Corr
0.57	IDA	IDACORP	Pair Corr
0.54	KEP	Korea Electric Power	Pair Corr
0.52	NGG	National Grid PLC	Pair Corr
0.44	XEL	Xcel Energy	Pair Corr

Related Correlations Analysis

	EBR	ENIC	KEP	GNE	ETI-P	IDA	MGEE	HE	EBR-B	CEPU
EBR		0.88	0.72	-0.26	0.78	0.8	-0.06	0.77	0.99	-0.78	EBR
ENIC	0.88		0.78	-0.29	0.79	0.83	-0.03	0.82	0.9	-0.82	ENIC
KEP	0.72	0.78		-0.33	0.59	0.74	0.07	0.72	0.72	-0.75	KEP
GNE	-0.26	-0.29	-0.33		-0.43	-0.14	0.49	-0.09	-0.29	0.35	GNE
ETI-P	0.78	0.79	0.59	-0.43		0.69	-0.27	0.56	0.79	-0.67	ETI-P
IDA	0.8	0.83	0.74	-0.14	0.69		0.3	0.88	0.79	-0.82	IDA
MGEE	-0.06	-0.03	0.07	0.49	-0.27	0.3		0.36	-0.08	-0.07	MGEE
HE	0.77	0.82	0.72	-0.09	0.56	0.88	0.36		0.77	-0.77	HE
EBR-B	0.99	0.9	0.72	-0.29	0.79	0.79	-0.08	0.77		-0.76	EBR-B
CEPU	-0.78	-0.82	-0.75	0.35	-0.67	-0.82	-0.07	-0.77	-0.76		CEPU
	EBR	ENIC	KEP	GNE	ETI-P	IDA	MGEE	HE	EBR-B	CEPU

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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-B	+ 0.99	EBR
EBR-B	+ 0.9	ENIC
ENIC	+ 0.88	EBR
HE	+ 0.88	IDA
IDA	+ 0.83	ENIC
HE	+ 0.82	ENIC

High negative correlations

CEPU	- 0.82	IDA
CEPU	- 0.82	ENIC
CEPU	- 0.78	EBR
CEPU	- 0.77	HE
CEPU	- 0.76	EBR-B
CEPU	- 0.75	KEP

Risk-Adjusted Indicators

There is a big difference between Empresa Stock performing well and Empresa Distribuidora 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 Empresa Distribuidora'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
EBR	1.44	0.39	0.21	0.58	1.35	(1.68)	3.55	(2.43)	6.82
ENIC	1.29	0.25	0.12	(0.62)	1.77	(1.41)	2.91	(3.06)	8.25
KEP	1.42	0.06	0.03	0.12	1.98	(1.63)	3.50	(2.91)	12.25
GNE	1.39	0.02	0.01	0.02	1.80	(1.46)	3.44	(3.59)	9.40
ETI-P	0.72	0.05	0.04	1.68	0.83	(0.85)	1.65	(1.31)	4.55
IDA	0.89	0.01	0.00	0.03	1.43	(0.81)	1.57	(2.97)	6.15
MGEE	1.15	(0.08)	0.00	(0.22)	0.00	0.00	2.35	(2.99)	9.22
HE	2.05	0.12	0.05	0.10	2.29	(2.55)	5.60	(4.18)	12.61
EBR-B	1.54	0.37	0.15	0.59	1.87	(1.66)	3.77	(3.25)	9.26
CEPU	2.61	(0.26)	0.00	(0.46)	0.00	0.00	6.23	(5.53)	14.76

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