Equatorial Energia Correlations

EQUEY Stock

USD 5.80 0.20 3.57%

The current 90-days correlation between Equatorial Energia and Centrais Electricas Brasileiras is 0.11 (i.e., Average diversification). The correlation of Equatorial Energia 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.

Equatorial Energia Correlation With Market

Significant diversification

The correlation between Equatorial Energia SA and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equatorial Energia SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Equatorial Pink Sheet

0.72	SO	Southern	Pair Corr
0.8	DUK	Duke Energy	Pair Corr
0.75	NGG	National Grid PLC	Pair Corr
0.77	DUK-PA	Duke Energy	Pair Corr
0.79	AEP	American Electric Power	Pair Corr
0.67	NGGTF	National Grid plc	Pair Corr
0.79	EXC	Exelon	Pair Corr
0.79	EC	Ecopetrol SA ADR	Pair Corr
0.84	WM	Waste Management	Pair Corr
0.74	GLU	Gabelli Global Utility	Pair Corr
0.68	HROWM	Harrow Health, 11875	Pair Corr
0.87	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.78	GTN	Gray Television	Pair Corr

Moving against Equatorial Pink Sheet

0.63	PPERY	Bank Mandiri Persero	Pair Corr
0.62	TLK	Telkom Indonesia Tbk	Pair Corr
0.6	PPERF	Bank Mandiri Persero	Pair Corr
0.6	PBCRF	PT Bank Central	Pair Corr
0.55	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.51	BKRKY	Bank Rakyat	Pair Corr
0.39	PEG	Public Service Enterprise	Pair Corr
0.73	PBCRY	Bank Central Asia	Pair Corr
0.38	SHWZ	Medicine Man Technologies Earnings Call Today	Pair Corr

Related Correlations Analysis

	AGR	D	EBR	ENIC	EIX	AEP	ELEZY	ETI-P	EBR-B
AGR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AGR
D	0.0		0.6	0.69	-0.61	0.78	0.39	0.71	0.63	D
EBR	0.0	0.6		0.89	-0.64	0.9	0.9	0.78	0.99	EBR
ENIC	0.0	0.69	0.89		-0.72	0.93	0.72	0.78	0.91	ENIC
EIX	0.0	-0.61	-0.64	-0.72		-0.79	-0.45	-0.79	-0.67	EIX
AEP	0.0	0.78	0.9	0.93	-0.79		0.73	0.84	0.9	AEP
ELEZY	0.0	0.39	0.9	0.72	-0.45	0.73		0.64	0.88	ELEZY
ETI-P	0.0	0.71	0.78	0.78	-0.79	0.84	0.64		0.78	ETI-P
EBR-B	0.0	0.63	0.99	0.91	-0.67	0.9	0.88	0.78		EBR-B
	AGR	D	EBR	ENIC	EIX	AEP	ELEZY	ETI-P	EBR-B

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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-B	+ 0.99	EBR
AEP	+ 0.93	ENIC
EBR-B	+ 0.91	ENIC
AEP	+ 0.9	EBR
ELEZY	+ 0.9	EBR
EBR-B	+ 0.9	AEP

High negative correlations

ETI-P	- 0.79	EIX
AEP	- 0.79	EIX
EIX	- 0.72	ENIC
EBR-B	- 0.67	EIX
EIX	- 0.64	EBR
EIX	- 0.61	D

Risk-Adjusted Indicators

There is a big difference between Equatorial Pink Sheet performing well and Equatorial Energia 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 Equatorial Energia'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
AGR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
D	1.06	0.05	0.04	0.17	1.98	(0.89)	2.39	(2.58)	8.67
EBR	1.42	0.40	0.22	0.64	1.35	(1.65)	3.55	(2.43)	6.82
ENIC	1.29	0.26	0.14	0.57	1.77	(1.41)	2.91	(3.06)	8.25
EIX	1.89	(0.43)	0.00	(1.10)	0.00	0.00	3.44	(6.33)	13.93
AEP	0.95	0.21	0.18	6.29	1.08	(0.97)	1.98	(1.95)	7.23
ELEZY	1.25	0.22	0.15	28.29	1.47	(1.23)	2.52	(2.99)	5.79
ETI-P	0.71	0.01	0.05	0.15	0.86	(0.82)	1.65	(1.31)	4.55
EBR-B	1.56	0.41	0.18	0.90	1.87	(1.71)	3.77	(3.25)	9.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Equatorial Energia 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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Equatorial Energia Corporate Management

Cristiano Logrado	Member Board	Profile
Bruno Coelho	Member Board	Profile
Humberto Nogueira	Member of the Executive Board	Profile
Jose Neto	Member Board	Profile
Mauricio Ferreira	Member Board	Profile
Leonardo Lima	Executive Officer and Member of Executive Board	Profile
Geovane Lira	Accounting Mang	Profile

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