Enel SpA Correlations

ENL Stock

7.25 0.08 1.12%

The current 90-days correlation between Enel SpA and North American Construction is 0.25 (i.e., Modest diversification). The correlation of Enel SpA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Enel SpA Correlation With Market

Good diversification

The correlation between Enel SpA and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enel SpA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Enel SpA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enel SpA 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 Enel SpA - 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 Enel SpA to buy it.

Moving together with Enel Stock

0.71	GZF	Engie SA	Pair Corr
0.67	RWE	RWE AG	Pair Corr
0.67	EOAN	EON SE	Pair Corr
0.64	EBK	EnBW Energie Baden Earnings Call This Week	Pair Corr
0.64	RHM	Rheinmetall AG	Pair Corr
0.64	LBL	KAROON GAS AUST	Pair Corr
0.64	RHM	Rheinmetall AG	Pair Corr
0.62	C7H	DRAIG RESOURCES	Pair Corr

Moving against Enel Stock

0.35	47M	MedMira	Pair Corr
0.33	J9I0	5E ADVANCED MATERIALS Split	Pair Corr
0.32	I7G	Ipsen SA	Pair Corr

Related Correlations Analysis

	N5Z	MGK	AOF	7VS	OSP2	UAO	OS3
N5Z		-0.28	-0.65	-0.61	-0.76	0.87	0.62	N5Z
MGK	-0.28		0.33	0.43	0.17	-0.27	0.11	MGK
AOF	-0.65	0.33		0.31	0.44	-0.57	-0.17	AOF
7VS	-0.61	0.43	0.31		0.68	-0.76	-0.38	7VS
OSP2	-0.76	0.17	0.44	0.68		-0.77	-0.57	OSP2
UAO	0.87	-0.27	-0.57	-0.76	-0.77		0.56	UAO
OS3	0.62	0.11	-0.17	-0.38	-0.57	0.56		OS3
	N5Z	MGK	AOF	7VS	OSP2	UAO	OS3

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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

UAO	+ 0.87	N5Z
OSP2	+ 0.68	7VS
OS3	+ 0.62	N5Z
OS3	+ 0.56	UAO
OSP2	+ 0.44	AOF
7VS	+ 0.43	MGK

High negative correlations

UAO	- 0.77	OSP2
UAO	- 0.76	7VS
OSP2	- 0.76	N5Z
AOF	- 0.65	N5Z
7VS	- 0.61	N5Z
OS3	- 0.57	OSP2

Risk-Adjusted Indicators

There is a big difference between Enel Stock performing well and Enel SpA 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 SpA'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
N5Z	1.78	(0.31)	0.00	(3.03)	0.00	0.00	4.08	(5.37)	13.69
MGK	2.03	0.17	0.09	1.36	2.01	(2.85)	4.84	(3.48)	14.67
AOF	1.51	0.12	0.09	(3.39)	1.96	(1.52)	3.78	(2.95)	9.93
7VS	1.38	0.31	0.17	0.64	1.80	(1.59)	3.06	(2.27)	11.95
OSP2	1.01	0.02	0.05	0.36	1.38	(1.17)	2.27	(2.13)	7.70
UAO	3.16	(0.61)	0.00	169.77	0.00	0.00	5.39	(8.11)	33.16
OS3	1.16	(0.02)	0.04	(0.01)	1.34	(1.84)	1.69	(1.61)	8.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enel SpA 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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Enel SpA Corporate Management

Elected by the shareholders, the Enel SpA's board of directors comprises two types of representatives: Enel SpA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enel. The board's role is to monitor Enel SpA's management team and ensure that shareholders' interests are well served. Enel SpA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enel SpA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Giulio Fazio	Head Affairs	Profile
Claudio Machetti	Head Management	Profile
Francesca Carlo	Head Procurement	Profile
Simone Mori	Head Europe	Profile
Francesco Starace	GM CEO	Profile
Ernesto Ciorra	Head Sustainability	Profile
Guido Stratta	Head Organisation	Profile

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