MGE Energy Correlations

MGEE Stock

USD 92.51 0.14 0.15%

The current 90-days correlation between MGE Energy and Portland General Electric is 0.75 (i.e., Poor diversification). The correlation of MGE 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.

MGE Energy Correlation With Market

Average diversification

The correlation between MGE Energy and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGE Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MGE Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

For information on how to trade MGE Stock refer to our How to Trade MGE Stock guide.

Moving together with MGE Stock

0.67	EIX	Edison International Sell-off Trend	Pair Corr
0.67	PCG	PGE Corp Aggressive Push	Pair Corr
0.65	POR	Portland General Electric	Pair Corr

Moving against MGE Stock

0.4	ETR	Entergy	Pair Corr
0.31	EXC	Exelon	Pair Corr
0.62	OKLO	Oklo Inc Symbol Change	Pair Corr
0.47	PCG-PI	Pacific Gas	Pair Corr
0.45	VIASP	Via Renewables	Pair Corr
0.4	TLN	Talen Energy	Pair Corr
0.39	PCG-PC	Pacific Gas	Pair Corr

Related Correlations Analysis

	CMS	AEE	PNW	EVRG	POR	PNM	OGE	IDA	LNT	DTE
CMS		0.86	0.93	0.89	0.65	0.0	0.9	0.91	0.96	0.98	CMS
AEE	0.86		0.91	0.97	0.27	0.0	0.95	0.78	0.88	0.86	AEE
PNW	0.93	0.91		0.93	0.59	0.0	0.93	0.92	0.96	0.92	PNW
EVRG	0.89	0.97	0.93		0.36	0.0	0.97	0.82	0.91	0.89	EVRG
POR	0.65	0.27	0.59	0.36		0.0	0.42	0.73	0.66	0.61	POR
PNM	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	PNM
OGE	0.9	0.95	0.93	0.97	0.42	0.0		0.85	0.93	0.89	OGE
IDA	0.91	0.78	0.92	0.82	0.73	0.0	0.85		0.94	0.87	IDA
LNT	0.96	0.88	0.96	0.91	0.66	0.0	0.93	0.94		0.93	LNT
DTE	0.98	0.86	0.92	0.89	0.61	0.0	0.89	0.87	0.93		DTE
	CMS	AEE	PNW	EVRG	POR	PNM	OGE	IDA	LNT	DTE

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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

DTE	+ 0.98	CMS
EVRG	+ 0.97	AEE
OGE	+ 0.97	EVRG
LNT	+ 0.96	CMS
LNT	+ 0.96	PNW
OGE	+ 0.95	AEE

High negative correlations

DTE	- 0.0	PNM
LNT	- 0.0	PNM
IDA	- 0.0	PNM
OGE	- 0.0	PNM
PNM	- 0.0	POR
PNM	- 0.0	EVRG

Risk-Adjusted Indicators

There is a big difference between MGE Stock performing well and MGE 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 MGE 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
CMS	0.85	0.15	0.17	0.63	1.18	(0.79)	1.80	(1.82)	4.73
AEE	0.95	0.20	0.20	0.34	1.05	(1.02)	2.08	(1.98)	6.55
PNW	0.90	0.11	0.13	0.13	1.15	(0.90)	1.85	(2.21)	4.93
EVRG	0.71	0.15	0.20	0.44	0.92	(0.71)	1.28	(1.66)	4.65
POR	0.93	0.01	0.00	(0.06)	0.00	0.00	1.70	(1.86)	5.50
PNM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OGE	0.80	0.14	0.16	0.25	1.06	(0.80)	1.86	(2.26)	5.73
IDA	0.84	0.08	0.10	0.15	1.38	(0.77)	1.57	(2.97)	6.15
LNT	0.87	0.10	0.13	0.25	1.20	(0.88)	1.93	(2.39)	5.88
DTE	0.82	0.22	0.20	0.47	1.10	(0.81)	1.92	(2.44)	5.35

MGE Energy Corporate Management

Tamara Johnson	VP Officer	Profile
Lynn Hobbie	Executive Communications	Profile
Ken Frassetto	Director Management	Profile
Jenny Lagerwall	Assistant Controller	Profile
Melissa Garner	Assistant Resources	Profile
Marshall Heyworth	Assistant HR	Profile

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