Excelerate Energy Correlations

EE Stock

USD 30.69 0.54 1.79%

The current 90-days correlation between Excelerate Energy and Atlantica Sustainable Infrastructure is -0.16 (i.e., Good diversification). The correlation of Excelerate 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.

Excelerate Energy Correlation With Market

Weak diversification

The correlation between Excelerate Energy and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Excelerate 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 Excelerate 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 income.

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

Moving together with Excelerate Stock

0.82	AM	Antero Midstream Partners	Pair Corr
0.9	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.85	DLNG	Dynagas LNG Partners Earnings Call Tomorrow	Pair Corr
0.84	VNOM	Viper Energy Ut	Pair Corr
0.86	ENLC	EnLink Midstream LLC	Pair Corr
0.83	IMPPP	Imperial Petroleum	Pair Corr
0.86	CQP	Cheniere Energy Partners	Pair Corr
0.97	DTM	DT Midstream	Pair Corr
0.89	ENB	Enbridge	Pair Corr
0.84	EPD	Enterprise Products	Pair Corr
0.96	GLP	Global Partners LP	Pair Corr
0.96	KMI	Kinder Morgan Sell-off Trend	Pair Corr
0.9	LNG	Cheniere Energy Sell-off Trend	Pair Corr
0.92	OKE	ONEOK Inc	Pair Corr
0.78	PBT	Permian Basin Royalty	Pair Corr
0.71	GLOP-PB	GasLog Partners LP	Pair Corr
0.65	GLOP-PC	GasLog Partners LP	Pair Corr
0.9	TRP	TC Energy Corp	Pair Corr
0.95	WMB	Williams Companies	Pair Corr
0.61	GLNG	Golar LNG Limited	Pair Corr

Moving against Excelerate Stock

0.86	LPG	Dorian LPG	Pair Corr
0.72	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.67	GEL	Genesis Energy LP	Pair Corr
0.6	BROGW	Brooge Energy Limited	Pair Corr
0.59	FRO	Frontline Earnings Call Tomorrow	Pair Corr
0.33	TK	Teekay	Pair Corr
0.9	IMPP	Imperial Petroleum	Pair Corr
0.79	STNG	Scorpio Tankers	Pair Corr
0.72	TNK	Teekay Tankers	Pair Corr
0.68	INSW	International Seaways	Pair Corr

Related Correlations Analysis

	AY	CWEN-A	BEPC	NEP	BEP	ENLT	RNW	CWEN	ELLO	AMPS
AY		0.04	0.48	-0.67	0.2	-0.09	-0.34	-0.07	0.52	0.65	AY
CWEN-A	0.04		0.08	0.41	0.22	0.18	0.47	0.99	-0.29	-0.06	CWEN-A
BEPC	0.48	0.08		-0.01	0.89	0.05	0.25	0.03	0.01	0.37	BEPC
NEP	-0.67	0.41	-0.01		0.37	0.08	0.7	0.52	-0.79	-0.63	NEP
BEP	0.2	0.22	0.89	0.37		0.0	0.48	0.22	-0.38	0.05	BEP
ENLT	-0.09	0.18	0.05	0.08	0.0		0.06	0.18	0.14	0.25	ENLT
RNW	-0.34	0.47	0.25	0.7	0.48	0.06		0.52	-0.43	-0.14	RNW
CWEN	-0.07	0.99	0.03	0.52	0.22	0.18	0.52		-0.39	-0.16	CWEN
ELLO	0.52	-0.29	0.01	-0.79	-0.38	0.14	-0.43	-0.39		0.76	ELLO
AMPS	0.65	-0.06	0.37	-0.63	0.05	0.25	-0.14	-0.16	0.76		AMPS
	AY	CWEN-A	BEPC	NEP	BEP	ENLT	RNW	CWEN	ELLO	AMPS

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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

CWEN	+ 0.99	CWEN-A
BEP	+ 0.89	BEPC
AMPS	+ 0.76	ELLO
RNW	+ 0.7	NEP
AMPS	+ 0.65	AY
ELLO	+ 0.52	AY

High negative correlations

ELLO	- 0.79	NEP
NEP	- 0.67	AY
AMPS	- 0.63	NEP
ELLO	- 0.43	RNW
ELLO	- 0.39	CWEN
ELLO	- 0.38	BEP

Risk-Adjusted Indicators

There is a big difference between Excelerate Stock performing well and Excelerate 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 Excelerate 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
AY	0.09	0.01	(0.86)	0.92	0.00	(0.12)	0.23	(0.18)	0.64
CWEN-A	1.45	0.12	(0.02)	(0.25)	2.32	(1.25)	2.78	(2.78)	15.50
BEPC	1.88	0.21	0.04	(1.77)	2.10	(2.20)	4.50	(2.88)	16.90
NEP	2.12	(0.60)	0.00	(0.58)	0.00	0.00	3.19	(5.54)	19.99
BEP	1.60	0.07	(0.02)	0.71	1.83	(1.85)	3.97	(2.89)	15.83
ENLT	2.06	0.05	(0.03)	(0.05)	3.29	(1.82)	4.64	(5.21)	13.41
RNW	1.45	0.07	(0.01)	0.39	2.14	(1.44)	3.74	(3.52)	9.41
CWEN	1.45	0.09	(0.03)	(0.19)	2.23	(1.29)	2.72	(2.89)	14.79
ELLO	2.18	0.31	0.07	14.89	2.23	(2.80)	6.18	(3.82)	14.09
AMPS	4.20	0.54	0.11	0.63	4.40	(4.99)	9.97	(8.53)	37.65

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