NiSource Correlations

Stocks . Germany . 
Stock . NiSource
NOU Stock  EUR 35.80  0.40  1.10%   
The current 90-days correlation between NiSource and Sims Metal Management is -0.09 (i.e., Good diversification). The correlation of NiSource 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.

NiSource Correlation With Market

Significant diversification

The correlation between NiSource and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiSource and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to NiSource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NiSource 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 NiSource - 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 NiSource to buy it.

Moving together with NiSource Stock

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  0.65SNM Snam SpAPairCorr
  0.91AEO Atmos EnergyPairCorr
  0.63TOG Tokyo Gas CoLtdPairCorr
  0.82RIT1 Compagnie FinancirePairCorr
  0.63HFF HARTFORD FIN SERVPairCorr
  0.64DEZ Deutz AG Earnings Call TomorrowPairCorr
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  0.76C6TB CHINA BANK ADR20 Earnings Call This WeekPairCorr
  0.74DPU DUNDEE PRECIOUS METPairCorr
  0.63AV6 AvistaPairCorr
  0.62AG1 AUTO1 Group SEPairCorr
  0.7619YA Yiren Digital Earnings Call TodayPairCorr
  0.79IFX Infineon TechnologiesPairCorr
  0.69KGHA KGHM Polska Miedz Earnings Call This WeekPairCorr
  0.81STD STANDARD CHARTEREDPairCorr

Moving against NiSource Stock

  0.54LGX1 China Resources GasPairCorr
  0.38XGH ENN Energy Holdings Earnings Call TomorrowPairCorr
  0.34XGH ENN Energy Holdings Earnings Call TomorrowPairCorr
  0.61G91 Globe Trade CentrePairCorr

Related Correlations Analysis

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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   
I8M
+ 0.76
1C6
CEK
+ 0.45
I8M
2UH
+ 0.36
0HF
2UH
+ 0.26
1NN
CEK
+ 0.23
1C6
0HF
+ 0.18
1NN
  
High negative correlations   
CEK
- 0.62
0HF
CEK
- 0.53
2UH
I8M
- 0.53
0HF
0HF
- 0.51
1C6
CEK
- 0.49
1NN

Risk-Adjusted Indicators

There is a big difference between NiSource Stock performing well and NiSource 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 NiSource'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.

Be your own money manager

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

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Risk-Return Analysis

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NiSource Corporate Management

Elected by the shareholders, the NiSource's board of directors comprises two types of representatives: NiSource inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NiSource. The board's role is to monitor NiSource's management team and ensure that shareholders' interests are well served. NiSource's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NiSource's outside directors are responsible for providing unbiased perspectives on the board's policies.
Randy HulenVP TreasuryProfile
William JeffersonEx OfficerProfile
Donald BrownEx CFOProfile
Shawn AndersonVP OfficerProfile
Gunnar GodeChief VPProfile
Charles BankstonVP OfficerProfile
Lloyd YatesCEO PresProfile
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