Middlesex Water Correlations

MSEX Stock

USD 59.97 0.51 0.86%

The current 90-days correlation between Middlesex Water and SJW Group Common is 0.06 (i.e., Significant 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

Good diversification

The correlation between Middlesex Water and DJI is -0.11 (i.e., Good 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

0.9	WTRG	Essential Utilities	Pair Corr
0.84	AWK	American Water Works	Pair Corr
0.75	AWR	American States Water	Pair Corr
0.84	CWT	California Water Service	Pair Corr
0.69	SJW	SJW Group Common	Pair Corr
0.82	YORW	York Water	Pair Corr
0.71	ARTNA	Artesian Resources	Pair Corr
0.66	ED	Consolidated Edison	Pair Corr
0.67	HE	Hawaiian Electric	Pair Corr
0.61	SO	Southern	Pair Corr

Moving against Middlesex Stock

0.86	CDZI	Cadiz Inc Earnings Call This Week	Pair Corr
0.8	BIP	Brookfield Infrastructure	Pair Corr
0.76	CEG	Constellation Energy Corp	Pair Corr
0.39	VSTE	Vast Renewables	Pair Corr

Related Correlations Analysis

	SJW	AWR	YORW	ARTNA	CWT	GWRS	CWCO	WTRG	AWK
SJW		0.64	0.83	0.87	0.82	-0.1	0.61	0.84	0.78	SJW
AWR	0.64		0.88	0.85	0.79	0.37	0.05	0.8	0.56	AWR
YORW	0.83	0.88		0.92	0.84	0.04	0.39	0.91	0.77	YORW
ARTNA	0.87	0.85	0.92		0.82	0.17	0.36	0.85	0.7	ARTNA
CWT	0.82	0.79	0.84	0.82		0.12	0.47	0.84	0.72	CWT
GWRS	-0.1	0.37	0.04	0.17	0.12		-0.44	-0.04	-0.19	GWRS
CWCO	0.61	0.05	0.39	0.36	0.47	-0.44		0.52	0.74	CWCO
WTRG	0.84	0.8	0.91	0.85	0.84	-0.04	0.52		0.92	WTRG
AWK	0.78	0.56	0.77	0.7	0.72	-0.19	0.74	0.92		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	+ 0.92	YORW
AWK	+ 0.92	WTRG
WTRG	+ 0.91	YORW
YORW	+ 0.88	AWR
ARTNA	+ 0.87	SJW
ARTNA	+ 0.85	AWR

High negative correlations

CWCO	- 0.44	GWRS
AWK	- 0.19	GWRS
GWRS	- 0.1	SJW
WTRG	- 0.04	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	1.41	(0.01)	0.04	0.00	1.78	(1.46)	3.31	(2.32)	10.19
AWR	1.15	(0.13)	0.00	0.26	0.00	0.00	2.28	(2.90)	7.60
YORW	1.09	(0.03)	0.04	0.01	1.50	(1.17)	2.68	(2.90)	6.67
ARTNA	1.26	(0.10)	0.00	0.20	0.00	0.00	2.46	(3.00)	6.31
CWT	1.18	(0.03)	0.00	(0.17)	0.00	0.00	2.37	(2.47)	7.58
GWRS	1.10	(0.14)	0.00	26.40	0.00	0.00	2.31	(2.81)	5.86
CWCO	1.31	0.17	0.11	0.21	1.82	(1.41)	2.43	(2.00)	10.06
WTRG	1.18	0.01	0.07	(0.12)	1.51	(1.26)	2.65	(2.65)	8.56
AWK	1.20	0.12	0.14	(0.41)	1.40	(1.35)	2.74	(2.79)	10.78

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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