Montauk Renewables Correlations

MNTK Stock

USD 2.18 0.04 1.87%

The current 90-days correlation between Montauk Renewables and Avista is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Montauk Renewables moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Montauk Renewables moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Montauk Renewables Correlation With Market

Average diversification

The correlation between Montauk Renewables and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Montauk Renewables 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 Montauk Renewables. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Montauk Stock please use our How to buy in Montauk Stock guide.

Moving together with Montauk Stock

0.9	BIP	Brookfield Infrastructure	Pair Corr
0.76	SRE	Sempra Energy	Pair Corr
0.72	CEG	Constellation Energy Corp	Pair Corr

Moving against Montauk Stock

0.81	WTRG	Essential Utilities	Pair Corr
0.78	ED	Consolidated Edison	Pair Corr
0.76	AVA	Avista	Pair Corr
0.68	SO	Southern	Pair Corr
0.61	HE	Hawaiian Electric	Pair Corr
0.6	AQN	Algonquin Power Utilities	Pair Corr
0.59	CMS-PB	Consumers Energy	Pair Corr
0.57	SR	Spire Inc	Pair Corr
0.51	DUKB	Duke Energy Corp	Pair Corr
0.46	ENIC	Enel Chile SA	Pair Corr
0.46	EVRG	Evergy,	Pair Corr
0.45	ELPC	Companhia Paranaense	Pair Corr
0.42	AES	AES	Pair Corr
0.42	ES	Eversource Energy	Pair Corr
0.38	UTL	UNITIL	Pair Corr
0.36	ALE	Allete Inc	Pair Corr
0.36	CIG	Companhia Energetica	Pair Corr
0.36	NI	NiSource	Pair Corr
0.84	AWK	American Water Works	Pair Corr
0.75	CNP	CenterPoint Energy	Pair Corr
0.69	DTE	DTE Energy	Pair Corr
0.68	CMS	CMS Energy	Pair Corr
0.67	DUK	Duke Energy	Pair Corr
0.67	EBR	Centrais Electricas	Pair Corr
0.65	IDA	IDACORP	Pair Corr
0.6	FTS	Fortis Inc	Pair Corr
0.59	CWT	California Water Service	Pair Corr

Related Correlations Analysis

	AVA	ALE	BKH	ELP	CIG	NWE	EONGY	CIG-C	OTTR	UTL
AVA		0.72	0.82	0.68	0.6	0.85	0.0	0.65	0.78	0.69	AVA
ALE	0.72		0.6	0.85	0.66	0.72	0.0	0.81	0.86	0.6	ALE
BKH	0.82	0.6		0.69	0.68	0.69	0.0	0.71	0.75	0.86	BKH
ELP	0.68	0.85	0.69		0.89	0.66	0.0	0.91	0.85	0.69	ELP
CIG	0.6	0.66	0.68	0.89		0.49	0.0	0.89	0.7	0.72	CIG
NWE	0.85	0.72	0.69	0.66	0.49		0.0	0.58	0.78	0.46	NWE
EONGY	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	EONGY
CIG-C	0.65	0.81	0.71	0.91	0.89	0.58	0.0		0.77	0.68	CIG-C
OTTR	0.78	0.86	0.75	0.85	0.7	0.78	0.0	0.77		0.73	OTTR
UTL	0.69	0.6	0.86	0.69	0.72	0.46	0.0	0.68	0.73		UTL
	AVA	ALE	BKH	ELP	CIG	NWE	EONGY	CIG-C	OTTR	UTL

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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

CIG-C	+ 0.91	ELP
CIG	+ 0.89	ELP
CIG-C	+ 0.89	CIG
OTTR	+ 0.86	ALE
UTL	+ 0.86	BKH
NWE	+ 0.85	AVA

High negative correlations

UTL	- 0.0	EONGY
OTTR	- 0.0	EONGY
CIG-C	- 0.0	EONGY
EONGY	- 0.0	NWE
EONGY	- 0.0	CIG
EONGY	- 0.0	ELP

Risk-Adjusted Indicators

There is a big difference between Montauk Stock performing well and Montauk Renewables 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 Montauk Renewables' 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
AVA	1.01	0.16	0.13	0.43	1.49	(1.02)	2.36	(3.47)	6.64
ALE	0.21	0.04	0.34	0.42	0.17	(0.23)	0.50	(0.48)	1.28
BKH	0.94	0.00	0.00	(0.07)	0.00	0.00	1.58	(2.11)	7.57
ELP	1.66	0.32	0.17	0.61	1.92	(1.74)	3.42	(2.53)	8.80
CIG	1.74	0.02	0.02	0.00	2.33	(2.06)	3.78	(3.91)	9.70
NWE	1.13	0.17	0.13	0.43	1.49	(1.13)	2.32	(2.57)	7.16
EONGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CIG-C	1.68	0.10	0.06	0.27	2.01	(1.88)	3.79	(3.66)	8.04
OTTR	1.22	0.14	0.11	0.28	1.48	(1.27)	2.36	(2.12)	8.55
UTL	1.06	0.00	0.00	(0.07)	0.00	0.00	2.15	(3.06)	6.36

Montauk Renewables Corporate Management

Scott Hill	VP Devel	Profile
James Shaw	Vice Operations	Profile
BS CPA	CEO Pres	Profile
BSc CPA	CFO Treasurer	Profile
John Ciroli	Chief Secretary	Profile
Sharon Frank	Health Environmental	Profile

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