Entergy New Correlations

ENJ Stock

USD 21.59 0.12 0.56%

The current 90-days correlation between Entergy New Orleans and Entergy New Orleans is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Entergy New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Entergy New Orleans moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Entergy New Correlation With Market

Significant diversification

The correlation between Entergy New Orleans and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy New Orleans 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 Entergy New Orleans. 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 Entergy Stock

0.65	DTW	DTE Energy	Pair Corr
0.77	UZE	United States Cellular	Pair Corr
0.83	SOJD	Southern	Pair Corr
0.67	D	Dominion Energy	Pair Corr
0.7	ED	Consolidated Edison	Pair Corr
0.66	ES	Eversource Energy	Pair Corr
0.71	FE	FirstEnergy	Pair Corr
0.68	HE	Hawaiian Electric	Pair Corr
0.64	SO	Southern	Pair Corr
0.78	CMS-PB	Consumers Energy	Pair Corr
0.8	CMS-PC	CMS Energy	Pair Corr
0.87	WTRG	Essential Utilities	Pair Corr
0.72	AVA	Avista	Pair Corr
0.85	AWK	American Water Works	Pair Corr
0.84	AWR	American States Water	Pair Corr
0.76	BEP	Brookfield Renewable	Pair Corr
0.8	BIP	Brookfield Infrastructure	Pair Corr
0.89	BKH	Black Hills	Pair Corr

Moving against Entergy Stock

0.72	SVIIR	Spring Valley Acquisition	Pair Corr
0.62	CDZIP	Cadiz Depositary Shares	Pair Corr
0.51	ELLO	Ellomay Capital	Pair Corr
0.44	ENIC	Enel Chile SA Earnings Call Tomorrow	Pair Corr
0.43	AQNB	Algonquin Power Utilities	Pair Corr
0.41	ENLT	Enlight Renewable Energy	Pair Corr
0.32	VVPR	VivoPower International	Pair Corr
0.49	GEV	GE Vernova LLC	Pair Corr
0.41	ALE	Allete Inc	Pair Corr
0.4	CEG	Constellation Energy Corp	Pair Corr

Related Correlations Analysis

	ENO	EAI	EMP	ELC	GPJA
ENO		0.71	0.57	0.62	0.08	ENO
EAI	0.71		0.85	0.97	0.34	EAI
EMP	0.57	0.85		0.86	0.07	EMP
ELC	0.62	0.97	0.86		0.35	ELC
GPJA	0.08	0.34	0.07	0.35		GPJA
	ENO	EAI	EMP	ELC	GPJA

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Risk-Adjusted Indicators

There is a big difference between Entergy Stock performing well and Entergy New 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 Entergy New'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
ENO	0.65	(0.09)	0.00	(0.47)	0.00	0.00	1.15	(1.37)	3.82
EAI	0.68	(0.02)	0.00	1.20	0.00	0.00	1.81	(1.34)	5.02
EMP	0.66	(0.03)	0.00	(1.08)	0.00	0.00	1.11	(1.55)	3.87
ELC	0.63	(0.02)	0.00	(0.64)	0.00	0.00	1.43	(1.38)	4.15
GPJA	0.72	0.01	0.02	0.15	0.78	(0.81)	1.81	(1.31)	5.00

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