EDISON INTL Correlations

EIX Stock

EUR 53.66 0.06 0.11%

The current 90-days correlation between EDISON INTL and Apple Inc is 0.03 (i.e., Significant diversification). The correlation of EDISON INTL 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.

EDISON INTL Correlation With Market

Significant diversification

The correlation between EDISON INTL and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EDISON INTL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EDISON INTL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EDISON INTL when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back EDISON INTL - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling EDISON INTL to buy it.

Moving together with EDISON Stock

0.61	MSF	Microsoft	Pair Corr
0.61	MSF	Microsoft	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.62	MSF	Microsoft	Pair Corr

Moving against EDISON Stock

0.95	G1MN	Globex Mining Enterprises	Pair Corr
0.67	TQI	TELECOM ITALIA	Pair Corr
0.38	FFP	Peugeot Invest Socit	Pair Corr
0.88	JCM	Japan Cash Machine	Pair Corr
0.84	SNM	Snam SpA	Pair Corr
0.82	D7Q1	Monument Mining	Pair Corr
0.71	A4A	ANGLO ASIAN MINING	Pair Corr
0.7	9TG	Gaztransport et technigaz	Pair Corr
0.7	SOBA	ATT Inc	Pair Corr
0.69	RTHA	Wilmar International	Pair Corr
0.69	WAC	Wacker Neuson SE	Pair Corr
0.69	6E2	Endeavour Mining PLC Earnings Call This Week	Pair Corr
0.66	HSB	HANG SENG BK	Pair Corr
0.65	KB2	MATSA RESOURCES	Pair Corr
0.64	M1W	GOLDQUEST MINING	Pair Corr
0.6	AF4	HANOVER INSURANCE	Pair Corr
0.6	ABR	Barrick Gold	Pair Corr
0.51	SLT	SCHALTBAU HOLDING	Pair Corr
0.31	VVD	Veolia Environnement	Pair Corr
0.91	2M6	Medtronic PLC	Pair Corr
0.85	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.82	MBG	Mercedes Benz Group	Pair Corr
0.8	I8MA	SIMS LTD ADR	Pair Corr
0.78	UT8	Uber Technologies	Pair Corr
0.75	KEI	Keisei Electric Railway Split	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	MSF	MSF	MSF	MSF	MSF	AMZ
APC		0.99	0.96	0.99	0.65	0.63	0.63	0.64	0.64	0.54	APC
APC	0.99		0.95	0.98	0.65	0.63	0.63	0.64	0.64	0.54	APC
APC	0.96	0.95		0.95	0.6	0.56	0.56	0.58	0.57	0.47	APC
APC	0.99	0.98	0.95		0.64	0.63	0.63	0.64	0.63	0.56	APC
MSF	0.65	0.65	0.6	0.64		0.96	0.96	0.96	0.97	0.81	MSF
MSF	0.63	0.63	0.56	0.63	0.96		1.0	0.99	1.0	0.83	MSF
MSF	0.63	0.63	0.56	0.63	0.96	1.0		0.99	1.0	0.83	MSF
MSF	0.64	0.64	0.58	0.64	0.96	0.99	0.99		1.0	0.83	MSF
MSF	0.64	0.64	0.57	0.63	0.97	1.0	1.0	1.0		0.83	MSF
AMZ	0.54	0.54	0.47	0.56	0.81	0.83	0.83	0.83	0.83		AMZ
	APC	APC	APC	APC	MSF	MSF	MSF	MSF	MSF	AMZ

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Risk-Adjusted Indicators

There is a big difference between EDISON Stock performing well and EDISON INTL 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 EDISON INTL'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
APC	1.23	(0.26)	(2.86)	1.74	(3.92)	9.09
APC	1.26	(0.25)	(0.75)	2.12	(3.05)	9.67
APC	1.23	(0.25)	7.59	2.13	(3.56)	10.38
APC	1.35	(0.24)	(1.01)	3.16	(4.20)	11.01
MSF	1.03	(0.26)	4.80	1.96	(2.25)	10.19
MSF	1.13	(0.24)	(0.58)	2.13	(2.43)	10.42
MSF	1.12	(0.23)	(0.55)	2.34	(2.42)	10.90
MSF	1.13	(0.26)	(0.83)	1.27	(2.81)	12.60
MSF	1.10	(0.24)	(0.68)	1.77	(2.73)	10.50
AMZ	1.25	(0.25)	(0.48)	2.39	(2.47)	7.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in EDISON INTL without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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