Middlesex Water Correlations

MSEX Stock

USD 52.63 1.38 2.69%

The current 90-days correlation between Middlesex Water and SJW Group Common is 0.82 (i.e., Very poor diversification). The correlation of Middlesex 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.

Middlesex Water Correlation With Market

Modest diversification

The correlation between Middlesex Water and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middlesex Water 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 Middlesex Water. 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 more information on how to buy Middlesex Stock please use our How to Invest in Middlesex Water guide.

Moving together with Middlesex Stock

0.93	WTRG	Essential Utilities	Pair Corr
0.88	AWK	American Water Works	Pair Corr
0.96	AWR	American States Water	Pair Corr
0.97	CWT	California Water Service Earnings Call Tomorrow	Pair Corr
0.76	SJW	SJW Group Common	Pair Corr
0.91	GWRS	Global Water Resources Earnings Call This Week	Pair Corr
0.93	YORW	York Water Earnings Call This Week	Pair Corr
0.94	ARTNA	Artesian Resources	Pair Corr
0.89	PCYO	Pure Cycle	Pair Corr
0.61	D	Dominion Energy	Pair Corr
0.63	FE	FirstEnergy	Pair Corr
0.62	HE	Hawaiian Electric	Pair Corr
0.72	CMS-PB	Consumers Energy	Pair Corr
0.83	CMS-PC	CMS Energy	Pair Corr
0.72	AES	AES Aggressive Push	Pair Corr
0.7	AVA	Avista	Pair Corr

Moving against Middlesex Stock

0.85	CDZIP	Cadiz Depositary Shares	Pair Corr
0.84	CDZI	Cadiz Inc	Pair Corr
0.67	ENIC	Enel Chile SA Earnings Call Tomorrow	Pair Corr
0.65	ALE	Allete Inc	Pair Corr
0.62	CEG	Constellation Energy Corp	Pair Corr
0.51	ELLO	Ellomay Capital	Pair Corr
0.4	ENLT	Enlight Renewable Energy	Pair Corr
0.38	CNP	CenterPoint Energy	Pair Corr

Related Correlations Analysis

	SJW	AWR	YORW	ARTNA	CWT	GWRS	CWCO	WTRG	AWK
SJW		0.77	0.87	0.89	0.87	0.6	0.36	0.85	0.85	SJW
AWR	0.77		0.96	0.94	0.95	0.85	-0.12	0.96	0.85	AWR
YORW	0.87	0.96		0.97	0.96	0.76	0.04	0.96	0.88	YORW
ARTNA	0.89	0.94	0.97		0.97	0.81	0.11	0.97	0.92	ARTNA
CWT	0.87	0.95	0.96	0.97		0.85	0.1	0.96	0.94	CWT
GWRS	0.6	0.85	0.76	0.81	0.85		-0.02	0.81	0.79	GWRS
CWCO	0.36	-0.12	0.04	0.11	0.1	-0.02		0.02	0.29	CWCO
WTRG	0.85	0.96	0.96	0.97	0.96	0.81	0.02		0.89	WTRG
AWK	0.85	0.85	0.88	0.92	0.94	0.79	0.29	0.89		AWK
	SJW	AWR	YORW	ARTNA	CWT	GWRS	CWCO	WTRG	AWK

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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

ARTNA	+ 0.97	YORW
CWT	+ 0.97	ARTNA
WTRG	+ 0.97	ARTNA
YORW	+ 0.96	AWR
WTRG	+ 0.96	AWR
CWT	+ 0.96	YORW

High negative correlations

CWCO	- 0.12	AWR
CWCO	- 0.02	GWRS

Risk-Adjusted Indicators

There is a big difference between Middlesex Stock performing well and Middlesex 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 Middlesex 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
SJW	1.23	(0.05)	0.00	(0.12)	0.00	0.00	3.05	(2.32)	8.48
AWR	0.99	(0.17)	0.00	(0.33)	0.00	0.00	2.18	(2.35)	6.73
YORW	0.88	(0.13)	0.00	(0.57)	0.00	0.00	2.11	(1.83)	6.65
ARTNA	1.11	(0.07)	0.00	(0.41)	0.00	0.00	2.02	(2.86)	6.25
CWT	1.09	(0.14)	0.00	(0.27)	0.00	0.00	2.14	(2.47)	6.79
GWRS	1.27	(0.15)	0.00	(0.35)	0.00	0.00	2.46	(3.04)	6.86
CWCO	1.27	0.09	0.06	0.14	1.47	(1.41)	2.38	(2.01)	9.49
WTRG	0.97	(0.05)	0.00	(0.14)	0.00	0.00	1.51	(1.98)	7.54
AWK	0.98	0.00	0.01	0.03	1.33	(1.02)	1.82	(2.30)	9.63

Middlesex Water Corporate Management

Bruce CPA	Treasurer VP	Profile
Jay Esq	General VP	Profile
CPA CPA	Treasurer VP	Profile
Robert Capko	Principal Officer	Profile

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