Entergy New Correlations

ENO Stock

USD 23.27 0.03 0.13%

The current 90-days correlation between Entergy New Orleans and Entergy New Orleans is 0.33 (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

Weak diversification

The correlation between Entergy New Orleans and DJI is 0.31 (i.e., Weak 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

0.62	EXPO	Exponent	Pair Corr
0.66	GDS	GDS Holdings Buyout Trend	Pair Corr

Moving against Entergy Stock

0.53	CBZ	CBIZ Inc	Pair Corr
0.49	VRSK	Verisk Analytics	Pair Corr
0.49	EEFT	Euronet Worldwide	Pair Corr
0.47	VIRC	Virco Manufacturing	Pair Corr
0.34	WHLM	Wilhelmina	Pair Corr
0.33	G	Genpact Limited	Pair Corr
0.6	WCN	Waste Connections	Pair Corr
0.58	RBA	RB Global	Pair Corr
0.57	FVRR	Fiverr International	Pair Corr
0.56	DNB	Dun Bradstreet Holdings	Pair Corr
0.46	GFL	Gfl Environmental	Pair Corr
0.43	KAR	KAR Auction Services	Pair Corr
0.43	RSG	Republic Services	Pair Corr
0.39	DLX	Deluxe	Pair Corr
0.38	FORR	Forrester Research	Pair Corr
0.37	HCSG	Healthcare Services	Pair Corr
0.33	CXW	CoreCivic	Pair Corr

Related Correlations Analysis

	EAI	ENJ	EMP	SOJC	DTW
EAI		0.65	0.9	0.75	0.9	EAI
ENJ	0.65		0.63	0.45	0.63	ENJ
EMP	0.9	0.63		0.56	0.76	EMP
SOJC	0.75	0.45	0.56		0.9	SOJC
DTW	0.9	0.63	0.76	0.9		DTW
	EAI	ENJ	EMP	SOJC	DTW

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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
EAI	0.51	(0.06)	0.00	(0.47)	0.00	0.00	0.84	(1.42)	2.60
ENJ	0.84	0.00	(0.09)	0.12	0.90	(1.19)	2.30	(1.65)	6.70
EMP	0.48	(0.08)	0.00	(0.20)	0.00	0.00	0.85	(1.28)	2.96
SOJC	0.43	(0.05)	0.00	(0.32)	0.00	0.00	0.87	(1.10)	2.60
DTW	0.49	(0.05)	0.00	(0.36)	0.00	0.00	0.99	(1.07)	2.84

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