Entergy Texas Correlations

ETI-P Preferred Stock  USD 24.28  0.06  0.25%   
The current 90-days correlation between Entergy Texas and Duke Energy is -0.04 (i.e., Good diversification). The correlation of Entergy Texas 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.

Entergy Texas Correlation With Market

Average diversification

The correlation between Entergy Texas and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy Texas and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Entergy Texas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Entergy Texas 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 Entergy Texas - 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 Entergy Texas to buy it.

Moving together with Entergy Preferred Stock

  0.7D Dominion EnergyPairCorr
  0.75ED Consolidated EdisonPairCorr
  0.74ES Eversource EnergyPairCorr
  0.72SO SouthernPairCorr
  0.73ENIC Enel Chile SAPairCorr
  0.8EVRG Evergy,PairCorr
  0.8AEE Ameren Corp Sell-off TrendPairCorr
  0.8AEP American Electric PowerPairCorr
  0.68CMS CMS Energy Sell-off TrendPairCorr
  0.63CNP CenterPoint EnergyPairCorr
  0.64DTE DTE EnergyPairCorr
  0.78DUK Duke EnergyPairCorr
  0.77EBR Centrais ElectricasPairCorr
  0.71ETR Entergy Sell-off TrendPairCorr
  0.78EXC ExelonPairCorr
  0.79FTS Fortis IncPairCorr
  0.68IDA IDACORPPairCorr
  0.7LNT Alliant Energy CorpPairCorr
  0.71NGG National Grid PLCPairCorr
  0.78OGE OGE EnergyPairCorr
  0.78PNW Pinnacle West CapitalPairCorr
  0.79PPL PPL Corporation Sell-off TrendPairCorr
  0.8WEC WEC Energy GroupPairCorr
  0.79DUK-PA Duke EnergyPairCorr

Moving against Entergy Preferred Stock

  0.76VSTE Vast RenewablesPairCorr
  0.71EIX Edison InternationalPairCorr
  0.5GNE Genie EnergyPairCorr
  0.47EDN Empresa DistribuidoraPairCorr
  0.78VSTEW Vast RenewablesPairCorr
  0.7PCG PGE Corp Aggressive PushPairCorr
  0.7PCG-PD Pacific GasPairCorr
  0.53PCG-PH Pacific GasPairCorr
  0.52SCE-PG SCE Trust IIPairCorr
  0.51SCE-PJ SCE Trust IVPairCorr
  0.5PEG Public Service EnterprisePairCorr
  0.48SCE-PL SCE Trust VIPairCorr
  0.36SCE-PK SCE Trust VPairCorr
  0.32PCG-PG Pacific GasPairCorr

Related Correlations Analysis

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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   
SR-PADUK-PA
CMS-PCSR-PA
  
High negative correlations   
CMS-PCDUK-PA

Risk-Adjusted Indicators

There is a big difference between Entergy Preferred Stock performing well and Entergy Texas 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 Texas' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Entergy Texas 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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Entergy Texas Corporate Management