Enel Chile Correlations

ENIC Stock

USD 3.39 0.06 1.74%

The current 90-days correlation between Enel Chile SA and Korea Electric Power is 0.4 (i.e., Very weak diversification). The correlation of Enel Chile 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.

Enel Chile Correlation With Market

Modest diversification

The correlation between Enel Chile SA and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enel Chile SA 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 Enel Chile SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Enel Stock

0.71	D	Dominion Energy	Pair Corr
0.85	ED	Consolidated Edison	Pair Corr
0.89	ES	Eversource Energy	Pair Corr
0.75	HE	Hawaiian Electric	Pair Corr
0.88	SO	Southern	Pair Corr
0.94	EVRG	Evergy,	Pair Corr
0.92	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.93	AEP	American Electric Power	Pair Corr
0.88	CMS	CMS Energy Sell-off Trend	Pair Corr
0.86	CNP	CenterPoint Energy	Pair Corr
0.9	DTE	DTE Energy	Pair Corr
0.89	DUK	Duke Energy	Pair Corr
0.9	EBR	Centrais Electricas	Pair Corr
0.88	ETR	Entergy Sell-off Trend	Pair Corr
0.95	EXC	Exelon	Pair Corr
0.92	FTS	Fortis Inc	Pair Corr
0.75	IDA	IDACORP	Pair Corr
0.68	KEP	Korea Electric Power	Pair Corr
0.85	LNT	Alliant Energy Corp	Pair Corr
0.72	NGG	National Grid PLC	Pair Corr
0.89	OGE	OGE Energy	Pair Corr
0.9	PNW	Pinnacle West Capital	Pair Corr
0.92	PPL	PPL Corporation Sell-off Trend	Pair Corr
0.93	WEC	WEC Energy Group	Pair Corr
0.75	XEL	Xcel Energy	Pair Corr
0.83	DUK-PA	Duke Energy	Pair Corr

Moving against Enel Stock

0.94	VSTE	Vast Renewables	Pair Corr
0.75	EIX	Edison International	Pair Corr
0.61	EDN	Empresa Distribuidora	Pair Corr
0.55	CMS-PC	CMS Energy	Pair Corr
0.37	GNE	Genie Energy	Pair Corr
0.88	VSTEW	Vast Renewables	Pair Corr
0.7	PCG-PD	Pacific Gas	Pair Corr
0.69	PCG-PE	Pacific Gas	Pair Corr
0.67	PCG	PGE Corp Aggressive Push	Pair Corr
0.65	SCE-PG	SCE Trust II	Pair Corr
0.56	SCE-PL	SCE Trust VI	Pair Corr
0.56	PCG-PH	Pacific Gas	Pair Corr
0.53	PEG	Public Service Enterprise	Pair Corr
0.47	PCG-PG	Pacific Gas	Pair Corr
0.45	SCE-PJ	SCE Trust IV	Pair Corr
0.4	PCG-PA	Pacific Gas	Pair Corr
0.38	PCG-PC	Pacific Gas	Pair Corr
0.37	PCG-PI	Pacific Gas	Pair Corr

Related Correlations Analysis

	EBR-B	KEP	CEPU	CMS	IDA	EBR	EDN	GNE	ETI-P	MGEE
EBR-B		0.67	-0.77	0.84	0.75	0.99	-0.65	-0.42	0.75	-0.22	EBR-B
KEP	0.67		-0.65	0.72	0.74	0.68	-0.37	-0.39	0.57	0.12	KEP
CEPU	-0.77	-0.65		-0.87	-0.73	-0.79	0.76	0.4	-0.61	0.14	CEPU
CMS	0.84	0.72	-0.87		0.91	0.85	-0.6	-0.19	0.68	0.08	CMS
IDA	0.75	0.74	-0.73	0.91		0.77	-0.4	-0.2	0.68	0.28	IDA
EBR	0.99	0.68	-0.79	0.85	0.77		-0.66	-0.41	0.77	-0.18	EBR
EDN	-0.65	-0.37	0.76	-0.6	-0.4	-0.66		0.4	-0.47	0.47	EDN
GNE	-0.42	-0.39	0.4	-0.19	-0.2	-0.41	0.4		-0.5	0.41	GNE
ETI-P	0.75	0.57	-0.61	0.68	0.68	0.77	-0.47	-0.5		-0.2	ETI-P
MGEE	-0.22	0.12	0.14	0.08	0.28	-0.18	0.47	0.41	-0.2		MGEE
	EBR-B	KEP	CEPU	CMS	IDA	EBR	EDN	GNE	ETI-P	MGEE

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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	+ 0.99	EBR-B
IDA	+ 0.91	CMS
EBR	+ 0.85	CMS
CMS	+ 0.84	EBR-B
EBR	+ 0.77	IDA
ETI-P	+ 0.77	EBR

High negative correlations

CMS	- 0.87	CEPU
EBR	- 0.79	CEPU
CEPU	- 0.77	EBR-B
IDA	- 0.73	CEPU
EDN	- 0.66	EBR
CEPU	- 0.65	KEP

Risk-Adjusted Indicators

There is a big difference between Enel Stock performing well and Enel Chile 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 Enel Chile'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-B	1.64	0.35	0.16	0.62	1.98	(1.78)	3.77	(3.31)	9.26
KEP	1.44	0.05	0.04	0.03	2.02	(1.61)	3.50	(2.91)	12.25
CEPU	2.58	(0.21)	0.00	(0.40)	0.00	0.00	6.23	(5.53)	14.76
CMS	0.82	0.17	0.17	0.79	1.10	(0.78)	1.80	(1.82)	4.73
IDA	0.85	0.08	0.09	0.17	1.38	(0.78)	1.57	(2.97)	6.15
EBR	1.47	0.38	0.20	0.45	1.53	(1.69)	3.55	(2.56)	6.82
EDN	3.13	(0.38)	0.00	(0.31)	0.00	0.00	5.55	(8.17)	21.66
GNE	1.35	0.04	0.05	0.01	1.70	(1.45)	3.29	(3.04)	9.40
ETI-P	0.70	0.02	0.09	0.11	0.82	(0.85)	1.65	(1.31)	4.55
MGEE	1.18	(0.10)	0.00	(0.36)	0.00	0.00	2.35	(2.99)	9.22

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