NRG Energy Correlations

NRG Stock

USD 99.64 1.38 1.40%

The current 90-days correlation between NRG Energy and AGL Energy is 0.13 (i.e., Average 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

Weak diversification

The correlation between NRG Energy and DJI is 0.32 (i.e., Weak 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NRG Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For more detail on how to invest in NRG Stock please use our How to Invest in NRG Energy guide.

Moving together with NRG Stock

0.71	VST	Vistra Energy Corp	Pair Corr
0.65	BIP	Brookfield Infrastructure	Pair Corr
0.75	CEG	Constellation Energy Corp	Pair Corr

Moving against NRG Stock

0.47	WTRG	Essential Utilities	Pair Corr
0.72	AES	AES Aggressive Push	Pair Corr
0.59	EIX	Edison International Sell-off Trend	Pair Corr
0.57	AWR	American States Water	Pair Corr
0.46	BEP	Brookfield Renewable	Pair Corr
0.44	CWT	California Water Service	Pair Corr
0.36	AWK	American Water Works	Pair Corr

Related Correlations Analysis

	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF
TAC		-0.03	0.65	0.45	0.45	0.23	0.44	0.76	TAC
KEN	-0.03		-0.26	0.04	0.04	0.16	0.12	-0.19	KEN
PAM	0.65	-0.26		0.43	0.49	0.2	0.36	0.56	PAM
AGLXY	0.45	0.04	0.43		0.8	-0.36	0.77	0.2	AGLXY
VST	0.45	0.04	0.49	0.8		-0.44	0.8	0.21	VST
HGKGY	0.23	0.16	0.2	-0.36	-0.44		-0.26	0.24	HGKGY
MXGFF	0.44	0.12	0.36	0.77	0.8	-0.26		0.3	MXGFF
HUNGF	0.76	-0.19	0.56	0.2	0.21	0.24	0.3		HUNGF
	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF

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

VST	+ 0.8	AGLXY
MXGFF	+ 0.8	VST
MXGFF	+ 0.77	AGLXY
HUNGF	+ 0.76	TAC
PAM	+ 0.65	TAC
HUNGF	+ 0.56	PAM

High negative correlations

HGKGY	- 0.44	VST
HGKGY	- 0.36	AGLXY
MXGFF	- 0.26	HGKGY
PAM	- 0.26	KEN
HUNGF	- 0.19	KEN
KEN	- 0.03	TAC

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
TAC	2.26	(0.53)	0.00	1.76	0.00	0.00	4.40	(4.59)	24.91
KEN	1.63	0.15	0.09	0.25	1.98	(1.86)	3.28	(3.29)	12.95
PAM	2.35	(0.10)	0.00	(0.23)	0.00	0.00	5.34	(5.55)	13.78
AGLXY	1.43	(0.07)	0.00	0.04	0.00	0.00	4.78	(3.53)	10.05
VST	3.59	0.11	0.00	(0.01)	0.00	0.00	8.49	(7.81)	36.82
HGKGY	1.20	(0.04)	0.00	0.23	0.00	0.00	2.69	(3.15)	13.91
MXGFF	1.70	(0.09)	0.00	(0.29)	0.00	0.00	4.33	(5.07)	25.08
HUNGF	0.36	(0.06)	0.00	(0.54)	0.00	0.00	0.00	0.00	13.04

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