Global Water Correlations

GWRS Stock

USD 10.72 0.41 3.68%

The current 90-days correlation between Global Water Resources and Artesian Resources is 0.22 (i.e., Modest diversification). The correlation of Global Water 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.

Global Water Correlation With Market

Good diversification

The correlation between Global Water Resources and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Water Resources and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Water Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Global Stock

0.63

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Pair Corr

Moving against Global Stock

0.54	HE	Hawaiian Electric	Pair Corr
0.48	YORW	York Water	Pair Corr
0.48	ES	Eversource Energy Sell-off Trend	Pair Corr
0.46	ED	Consolidated Edison	Pair Corr
0.43	WTRG	Essential Utilities	Pair Corr
0.42	SR	Spire Inc	Pair Corr
0.4	SJW	SJW Group Common	Pair Corr
0.39	SBS	Companhia de Saneamento	Pair Corr
0.38	SO	Southern	Pair Corr
0.37	AWK	American Water Works	Pair Corr
0.35	MSEX	Middlesex Water	Pair Corr
0.31	CWT	California Water Service	Pair Corr
0.72	BEP	Brookfield Renewable	Pair Corr
0.6	AQN	Algonquin Power Utilities	Pair Corr
0.53	ENIC	Enel Chile SA	Pair Corr
0.49	ELPC	Companhia Paranaense	Pair Corr
0.48	CMS	CMS Energy	Pair Corr
0.45	EVRG	Evergy,	Pair Corr
0.42	CIG	Companhia Energetica	Pair Corr
0.39	AVA	Avista	Pair Corr
0.37	ATO	Atmos Energy	Pair Corr
0.35	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.34	AEP	American Electric Power	Pair Corr
0.32	ALE	Allete Inc	Pair Corr
0.31	CMS-PB	Consumers Energy	Pair Corr

Related Correlations Analysis

	MSEX	CWT	AWR	ARTNA	SJW	YORW
MSEX		0.81	0.76	0.66	0.66	0.86	MSEX
CWT	0.81		0.88	0.91	0.89	0.93	CWT
AWR	0.76	0.88		0.83	0.69	0.86	AWR
ARTNA	0.66	0.91	0.83		0.89	0.87	ARTNA
SJW	0.66	0.89	0.69	0.89		0.83	SJW
YORW	0.86	0.93	0.86	0.87	0.83		YORW
	MSEX	CWT	AWR	ARTNA	SJW	YORW

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Risk-Adjusted Indicators

There is a big difference between Global Stock performing well and Global Water 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 Global Water'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
MSEX	1.70	0.25	0.14	0.74	1.65	(1.96)	3.60	(2.92)	19.18
CWT	1.17	0.02	0.04	(0.52)	1.42	(1.18)	2.37	(2.28)	7.58
AWR	1.14	0.00	0.00	0.00	0.00	0.00	2.28	(2.35)	7.60
ARTNA	1.19	0.01	0.02	0.00	1.72	(1.11)	2.46	(2.84)	6.58
SJW	1.35	0.09	0.07	1.21	1.55	(1.51)	3.31	(2.02)	10.19
YORW	1.11	0.05	0.06	0.55	1.36	(1.26)	2.68	(2.31)	6.67

Global Water Corporate Management

Suzanne Kitts	VP Controller	Profile
Michael Liebman	CFO VP	Profile
Steven Brill	Vice Security	Profile
Christopher CFA	Chief Officer	Profile
Robert Kuta	Executive Resources	Profile
John Lenderking	Senior Affairs	Profile
Joanne Ellsworth	Executive Affairs	Profile

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