CenterPoint Energy Correlations

HOU Stock

EUR 32.00 0.20 0.62%

The current 90-days correlation between CenterPoint Energy and Naturgy Energy Group is 0.11 (i.e., Average diversification). The correlation of CenterPoint Energy 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.

CenterPoint Energy Correlation With Market

Significant diversification

The correlation between CenterPoint Energy and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CenterPoint Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CenterPoint Stock

0.69	GAN	Naturgy Energy Group	Pair Corr
0.7	SNM	Snam SpA	Pair Corr
0.69	AEO	Atmos Energy	Pair Corr
0.87	NOU	NiSource	Pair Corr
0.64	RHM	Rheinmetall AG	Pair Corr
0.8	KST	Kobe Steel	Pair Corr
0.68	CFX	Capital One Financial	Pair Corr
0.71	OD3	ODFJELL DRILLLTD	Pair Corr
0.7	VOS	Vossloh AG	Pair Corr
0.76	LT5	Lassila Tikanoja Oyj	Pair Corr
0.69	8QM	APATOR B ZY	Pair Corr
0.76	AMG	Amgen Inc	Pair Corr
0.66	NZE	Zeon	Pair Corr
0.75	ACE1	ACERINOX	Pair Corr

Moving against CenterPoint Stock

0.58	LGX1	China Resources Gas	Pair Corr
0.53	BUU	DevEx Resources	Pair Corr
0.37	XGH	ENN Energy Holdings	Pair Corr

Related Correlations Analysis

	GAN	HOU	SNM	XGH	XGH	AEO	NOU	LGX1	PJZ	TOG
GAN		0.69	0.7	0.0	-0.16	0.4	0.76	-0.53	0.22	0.57	GAN
HOU	0.69		0.7	-0.21	-0.37	0.69	0.87	-0.58	0.28	0.49	HOU
SNM	0.7	0.7		-0.38	-0.6	0.56	0.72	-0.85	0.26	0.43	SNM
XGH	0.0	-0.21	-0.38		0.87	-0.5	-0.29	0.45	-0.07	-0.17	XGH
XGH	-0.16	-0.37	-0.6	0.87		-0.53	-0.39	0.68	-0.11	-0.11	XGH
AEO	0.4	0.69	0.56	-0.5	-0.53		0.78	-0.45	0.37	0.59	AEO
NOU	0.76	0.87	0.72	-0.29	-0.39	0.78		-0.62	0.25	0.58	NOU
LGX1	-0.53	-0.58	-0.85	0.45	0.68	-0.45	-0.62		-0.09	-0.15	LGX1
PJZ	0.22	0.28	0.26	-0.07	-0.11	0.37	0.25	-0.09		0.25	PJZ
TOG	0.57	0.49	0.43	-0.17	-0.11	0.59	0.58	-0.15	0.25		TOG
	GAN	HOU	SNM	XGH	XGH	AEO	NOU	LGX1	PJZ	TOG

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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

NOU	+ 0.87	HOU
XGH	+ 0.87	XGH
NOU	+ 0.78	AEO
NOU	+ 0.76	GAN
NOU	+ 0.72	SNM
SNM	+ 0.7	GAN

High negative correlations

LGX1	- 0.85	SNM
LGX1	- 0.62	NOU
XGH	- 0.6	SNM
LGX1	- 0.58	HOU
AEO	- 0.53	XGH
LGX1	- 0.53	GAN

Risk-Adjusted Indicators

There is a big difference between CenterPoint Stock performing well and CenterPoint Energy 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 CenterPoint Energy'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
GAN	1.11	0.18	0.14	(1.74)	1.06	(1.27)	3.28	(2.44)	8.23
HOU	1.01	0.11	0.10	0.68	0.96	(1.44)	2.60	(1.89)	5.34
SNM	0.64	0.12	0.19	2.97	0.57	(0.80)	1.42	(1.12)	3.41
XGH	2.48	0.10	0.05	(0.17)	2.61	(3.06)	5.00	(4.41)	24.33
XGH	1.68	0.02	0.02	(0.08)	1.99	(2.09)	4.88	(3.70)	9.13
AEO	0.93	0.03	0.03	0.08	1.20	(0.96)	2.47	(2.06)	5.43
NOU	0.96	0.12	0.14	0.49	0.73	(1.56)	2.85	(1.64)	5.52
LGX1	1.75	(0.11)	0.00	(0.49)	0.00	0.00	3.53	(3.53)	13.85
PJZ	1.31	0.11	0.06	0.44	1.59	(1.85)	5.38	(2.50)	11.24
TOG	1.37	0.12	0.08	0.45	1.34	(1.86)	2.96	(2.29)	10.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in CenterPoint Energy 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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CenterPoint Energy Corporate Management

Elected by the shareholders, the CenterPoint Energy's board of directors comprises two types of representatives: CenterPoint Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of CenterPoint. The board's role is to monitor CenterPoint Energy's management team and ensure that shareholders' interests are well served. CenterPoint Energy'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, CenterPoint Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jason Wells	Ex CFO	Profile
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Carol Helliker	Sr Officer	Profile
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Kara Ryan	VP Officer	Profile

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