NRG Energy Correlations

Stocks . Germany . 
Stock . NRG Energy
NRA Stock  EUR 87.86  0.64  0.72%   
The current 90-days correlation between NRG Energy and Huaneng Power International is 0.05 (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

Good diversification

The correlation between NRG Energy and DJI is -0.06 (i.e., Good 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

  0.87EN3 EnbridgePairCorr
  0.86HIP Park Hotels ResortsPairCorr
  0.72VAI Vail ResortsPairCorr
  0.7RZH SCOTT TECHNOLOGYPairCorr
  0.63AZ5 AutoZonePairCorr
  0.77PTX Palantir TechnologiesPairCorr
  0.85PPB Flutter Entertainment PLCPairCorr
  0.63HXL HexcelPairCorr
  0.72PCG6 PG E P6PairCorr
  0.67WX7 Corporate Office ProPairCorr
  0.62MSF MicrosoftPairCorr
  0.88VA7A VERISK ANLYTCS APairCorr
  0.89LIE Sun Life FinancialPairCorr
  0.74AQHE Event HospitalityPairCorr
  0.81FFH Fifth Third BancorpPairCorr
  0.76SYY SyscoPairCorr

Moving against NRG Stock

  0.74BYRA PT Bank RakyatPairCorr
  0.73EDW EDP Renovveis SAPairCorr
  0.7BYRA BANK RAKYAT INDPairCorr
  0.68D2G Orsted ASPairCorr
  0.66PQ9 BANK MANDIRIPairCorr
  0.6SSU Samsung ElectronicsPairCorr
  0.59SSU Samsung ElectronicsPairCorr
  0.59BYRA BANK RAKYAT INDPairCorr
  0.58PQ9 PT Bank MandiriPairCorr
  0.541NR Northland PowerPairCorr
  0.53BYRA PT Bank RakyatPairCorr
  0.51SSUN Samsung ElectronicsPairCorr
  0.49SSUN Samsung ElectronicsPairCorr
  0.47CRP China Resources PowerPairCorr
  0.43HUP1 Huaneng Power InternPairCorr
  0.45VAR1 Varta AGPairCorr
  0.42C4S1 CHINA STATE STRUPairCorr

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   
EDW
+ 0.94
D2G
CRP
+ 0.89
HUP1
1NR
+ 0.88
D2G
1NR
+ 0.88
EDW
CRP
+ 0.54
EDW
HUP1
+ 0.53
EDW
  
High negative correlations   
HEH
- 0.77
EDW
NRA
- 0.73
EDW
HEH
- 0.72
D2G
1NR
- 0.71
HEH
NRA
- 0.68
D2G
1NR
- 0.54
NRA

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.

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.

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NRG Energy Corporate Management

Elected by the shareholders, the NRG Energy's board of directors comprises two types of representatives: NRG Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NRG. The board's role is to monitor NRG Energy's management team and ensure that shareholders' interests are well served. NRG Energy'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, NRG Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.
Gaetan FrotteVP TreasurerProfile
Robert GaudetteEx BusProfile
CFA CFAVP RelationsProfile
Christopher MoserEx PolicyProfile
Emily CPACo OfficerProfile
Alberto FornaroEx CFOProfile
Mauricio GutierrezCEO PresProfile
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