National Grid Correlations
| NGGTF Stock | USD 11.89 0.05 0.42% |
The current 90-days correlation between National Grid plc and Consolidated Edison is -0.06 (i.e., Good diversification). The correlation of National Grid 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.
National Grid Correlation With Market
Modest diversification
The correlation between National Grid plc and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Grid plc and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to National Grid could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace National Grid 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 National Grid - 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 National Grid plc to buy it.
Moving together with National Pink Sheet
| 0.84 | NGG | National Grid PLC | PairCorr |
| 0.69 | AEP | American Electric Power | PairCorr |
| 0.64 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.73 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.79 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.64 | PBCRY | Bank Central Asia | PairCorr |
| 0.67 | PBCRF | PT Bank Central | PairCorr |
| 0.78 | BKRKY | Bank Rakyat | PairCorr |
| 0.77 | TLK | Telkom Indonesia Tbk | PairCorr |
Moving against National Pink Sheet
| 0.74 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.72 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.71 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.65 | SOUN | SoundHound AI Trending | PairCorr |
| 0.65 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.64 | SSNLF | Samsung Electronics | PairCorr |
| 0.64 | BBAI | BigBearai Holdings Tech Boost | PairCorr |
| 0.63 | PTAIF | PT Astra International | PairCorr |
| 0.58 | LUNR | Intuitive Machines | PairCorr |
| 0.49 | APLD | Applied Blockchain | PairCorr |
| 0.48 | PCG | PGE Corp | PairCorr |
| 0.33 | TLKMF | Telkom Indonesia Tbk | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between National Pink Sheet performing well and National Grid 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 National Grid'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ED | 0.84 | (0.20) | 0.00 | (1.21) | 0.00 | 1.26 | 4.57 | |||
| ETR | 1.09 | 0.35 | 0.14 | (1.62) | 1.19 | 2.25 | 21.62 | |||
| FE | 0.70 | (0.16) | 0.00 | (0.76) | 0.00 | 1.09 | 4.03 | |||
| PPL | 0.91 | 0.02 | (0.07) | 0.30 | 1.06 | 1.67 | 5.22 | |||
| AEP | 0.89 | (0.11) | 0.00 | 0.50 | 0.00 | 1.39 | 6.17 | |||
| CMS | 0.71 | (0.06) | 0.00 | (1.12) | 0.00 | 1.23 | 3.89 | |||
| LNT | 0.91 | 0.03 | (0.07) | 0.91 | 1.01 | 2.04 | 5.81 | |||
| IDA | 0.78 | 0.08 | 0.02 | 0.31 | 0.56 | 2.29 | 4.58 | |||
| PNW | 0.89 | (0.06) | (0.12) | 0.00 | 0.98 | 1.99 | 5.28 | |||
| KEP | 1.78 | (0.09) | 0.00 | (0.83) | 0.00 | 4.16 | 11.74 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in National Grid 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?
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Fundamental AnalysisView fundamental data based on most recent published financial statements |
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National Grid Corporate Management
| Ross Turrini | Chief Process | Profile | |
| Lisa Lambert | VP Officer | Profile | |
| Andrew Agg | CFO Director | Profile | |
| Nicholas CFA | Director Relations | Profile | |
| Megan Barnes | Head Secretariat | Profile | |
| Adriana Karaboutis | Group Chief Information and Digital Officer | Profile | |
| FIET FEI | CEO Director | Profile |