Entergy New Correlations

ENJ Stock

USD 21.07 0.18 0.85%

The current 90-days correlation between Entergy New Orleans and Entergy New Orleans is 0.51 (i.e., Very 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

Modest diversification

The correlation between Entergy New Orleans and DJI is 0.24 (i.e., Modest 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

0.66	DUKB	Duke Energy Corp	Pair Corr
0.69	DTW	DTE Energy	Pair Corr
0.62	BKH	Black Hills	Pair Corr

Moving against Entergy Stock

0.43	VVPR	VivoPower International	Pair Corr
0.42	XIFR	XPLR Infrastructure Symbol Change	Pair Corr

Related Correlations Analysis

	ENO	EAI	EMP	ELC	GPJA
ENO		0.78	0.74	0.83	0.13	ENO
EAI	0.78		0.76	0.93	0.44	EAI
EMP	0.74	0.76		0.86	-0.01	EMP
ELC	0.83	0.93	0.86		0.37	ELC
GPJA	0.13	0.44	-0.01	0.37		GPJA
	ENO	EAI	EMP	ELC	GPJA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ELC	+ 0.93	EAI
ELC	+ 0.86	EMP
ELC	+ 0.83	ENO
EAI	+ 0.78	ENO
EMP	+ 0.76	EAI
EMP	+ 0.74	ENO

High negative correlations

GPJA

- 0.01

EMP

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	0.60	(0.02)	0.00	(0.15)	0.00	0.00	1.15	(1.36)	3.82
EAI	0.70	0.01	0.06	(0.04)	0.87	(0.80)	1.79	(1.36)	4.99
EMP	0.63	(0.01)	0.00	(0.11)	0.00	0.00	1.11	(1.55)	3.87
ELC	0.65	0.00	0.00	(0.07)	0.00	0.00	1.45	(1.35)	4.16
GPJA	0.72	0.08	0.15	0.17	0.71	(0.83)	1.81	(1.31)	5.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC