NRG Energy, Correlations

N1RG34 Stock

BRL 566.00 2.00 0.35%

The current 90-days correlation between NRG Energy, and New Oriental Education is 0.07 (i.e., Significant diversification). The correlation of NRG 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.

NRG Energy, Correlation With Market

Average diversification

The correlation between NRG Energy, and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NRG Energy, and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NRG 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 NRG 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 NRG 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 NRG Energy, to buy it.

Moving together with NRG Stock

0.81	ARMT34	ArcelorMittal SA	Pair Corr
0.88	P1DT34	Prudential Financial	Pair Corr
0.75	PGMN3	Empreendimentos Pague	Pair Corr
0.78	MSFT34	Microsoft	Pair Corr
0.9	S2QU34	Block Inc	Pair Corr
0.87	A1LL34	Bread Financial Holdings	Pair Corr
0.82	SNEC34	Sony Group Split	Pair Corr
0.9	SSFO34	salesforce inc	Pair Corr

Moving against NRG Stock

0.74	H1II34	Huntington Ingalls	Pair Corr
0.71	MBRF11	Fundo De Investimento	Pair Corr
0.61	LMTB34	Lockheed Martin	Pair Corr
0.58	D1HI34	DR Horton	Pair Corr
0.57	BIOM3	Biomm SA	Pair Corr
0.34	L1EN34	Lennar	Pair Corr

Related Correlations Analysis

	S1KM34	CVSH34	GOAU4	E1DU34	MLAS3	VVEO3	C1AH34
S1KM34		-0.09	0.47	-0.25	-0.55	-0.03	0.32	S1KM34
CVSH34	-0.09		-0.01	0.27	0.54	-0.12	-0.3	CVSH34
GOAU4	0.47	-0.01		-0.11	-0.56	-0.06	0.13	GOAU4
E1DU34	-0.25	0.27	-0.11		0.11	-0.46	-0.6	E1DU34
MLAS3	-0.55	0.54	-0.56	0.11		0.19	-0.43	MLAS3
VVEO3	-0.03	-0.12	-0.06	-0.46	0.19		0.4	VVEO3
C1AH34	0.32	-0.3	0.13	-0.6	-0.43	0.4		C1AH34
	S1KM34	CVSH34	GOAU4	E1DU34	MLAS3	VVEO3	C1AH34

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MLAS3	+ 0.54	CVSH34
GOAU4	+ 0.47	S1KM34
C1AH34	+ 0.4	VVEO3
C1AH34	+ 0.32	S1KM34
E1DU34	+ 0.27	CVSH34
VVEO3	+ 0.19	MLAS3

High negative correlations

C1AH34	- 0.6	E1DU34
MLAS3	- 0.56	GOAU4
MLAS3	- 0.55	S1KM34
VVEO3	- 0.46	E1DU34
C1AH34	- 0.43	MLAS3
C1AH34	- 0.3	CVSH34

Risk-Adjusted Indicators

There is a big difference between NRG Stock performing well and NRG 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 NRG 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
S1KM34	0.69	(0.02)	0.00	(0.10)	0.00	0.00	2.28	(2.36)	9.83
CVSH34	2.21	(0.20)	0.00	(0.82)	0.00	0.00	4.74	(5.42)	23.09
GOAU4	1.34	(0.04)	0.00	(0.77)	0.00	0.00	2.32	(3.72)	14.19
E1DU34	2.43	0.22	0.06	0.47	3.03	(2.65)	5.95	(5.89)	18.65
MLAS3	3.09	(0.53)	0.00	(0.82)	0.00	0.00	6.45	(7.28)	16.85
VVEO3	3.04	0.18	0.05	0.33	3.52	(4.05)	8.15	(4.64)	31.24
C1AH34	0.20	0.09	0.00	(6.74)	0.00	0.00	0.33	0.00	5.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in NRG 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.

Did you try this?

Run Stocks Directory Now

Stocks Directory

Find actively traded stocks across global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC