Public Service Correlations

PEG Stock

USD 81.42 1.91 2.29%

The current 90-days correlation between Public Service Enterprise and CenterPoint Energy is 0.01 (i.e., Significant diversification). The correlation of Public Service 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.

Public Service Correlation With Market

Modest diversification

The correlation between Public Service Enterprise and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Service Enterprise and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Public Service Enterprise. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving against Public Stock

0.62	SO	Southern	Pair Corr
0.59	ED	Consolidated Edison	Pair Corr
0.59	DUK	Duke Energy	Pair Corr
0.55	FTS	Fortis Inc	Pair Corr
0.54	ENIC	Enel Chile SA	Pair Corr
0.54	CMS	CMS Energy	Pair Corr
0.54	EXC	Exelon	Pair Corr
0.53	AEP	American Electric Power	Pair Corr
0.51	EBR	Centrais Electricas	Pair Corr
0.5	HE	Hawaiian Electric	Pair Corr
0.48	DTE	DTE Energy	Pair Corr
0.46	ES	Eversource Energy	Pair Corr
0.46	EVRG	Evergy,	Pair Corr
0.46	CNP	CenterPoint Energy	Pair Corr
0.45	AEE	Ameren Corp	Pair Corr
0.34	CMS-PB	Consumers Energy	Pair Corr
0.33	D	Dominion Energy	Pair Corr
0.55	WEC	WEC Energy Group	Pair Corr
0.52	IDA	IDACORP	Pair Corr
0.52	PNW	Pinnacle West Capital	Pair Corr
0.52	ETI-P	Entergy Texas	Pair Corr
0.5	LNT	Alliant Energy Corp	Pair Corr
0.45	KEP	Korea Electric Power	Pair Corr
0.45	PPL	PPL Corporation	Pair Corr
0.43	POR	Portland General Electric	Pair Corr
0.41	NWE	NorthWestern	Pair Corr
0.41	OGE	OGE Energy	Pair Corr
0.41	DUK-PA	Duke Energy	Pair Corr
0.4	XEL	Xcel Energy	Pair Corr
0.35	NGG	National Grid PLC	Pair Corr
0.32	NEE	Nextera Energy	Pair Corr

Related Correlations Analysis

	CNP	FE	PNW	EIX	LNT	CMS	ETR	EVRG	PNM	SO
CNP		0.19	0.92	-0.46	0.88	0.9	0.74	0.85	0.0	0.88	CNP
FE	0.19		0.34	-0.31	0.35	0.28	0.4	0.43	0.0	0.28	FE
PNW	0.92	0.34		-0.61	0.96	0.96	0.85	0.96	0.0	0.96	PNW
EIX	-0.46	-0.31	-0.61		-0.53	-0.48	-0.81	-0.73	0.0	-0.55	EIX
LNT	0.88	0.35	0.96	-0.53		0.97	0.83	0.93	0.0	0.95	LNT
CMS	0.9	0.28	0.96	-0.48	0.97		0.78	0.9	0.0	0.97	CMS
ETR	0.74	0.4	0.85	-0.81	0.83	0.78		0.93	0.0	0.77	ETR
EVRG	0.85	0.43	0.96	-0.73	0.93	0.9	0.93		0.0	0.89	EVRG
PNM	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PNM
SO	0.88	0.28	0.96	-0.55	0.95	0.97	0.77	0.89	0.0		SO
	CNP	FE	PNW	EIX	LNT	CMS	ETR	EVRG	PNM	SO

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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

CMS	+ 0.97	LNT
SO	+ 0.97	CMS
LNT	+ 0.96	PNW
CMS	+ 0.96	PNW
EVRG	+ 0.96	PNW
SO	+ 0.96	PNW

High negative correlations

ETR	- 0.81	EIX
EVRG	- 0.73	EIX
EIX	- 0.61	PNW
SO	- 0.55	EIX
LNT	- 0.53	EIX
CMS	- 0.48	EIX

Risk-Adjusted Indicators

There is a big difference between Public Stock performing well and Public Service 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 Public Service'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
CNP	0.86	0.17	0.16	(0.61)	0.79	(0.97)	2.51	(1.74)	5.48
FE	1.17	(0.05)	0.00	7.67	0.00	0.00	2.20	(2.40)	14.76
PNW	0.88	0.10	0.08	0.22	1.08	(0.92)	1.85	(2.21)	4.93
EIX	1.91	(0.47)	0.00	(1.06)	0.00	0.00	3.44	(6.33)	13.93
LNT	0.87	0.07	0.05	0.27	1.22	(0.86)	1.93	(2.39)	5.88
CMS	0.85	0.12	0.09	0.57	1.14	(0.80)	1.80	(1.82)	4.73
ETR	1.16	0.17	0.10	0.27	1.51	(1.21)	2.45	(2.31)	10.06
EVRG	0.74	0.12	0.10	0.41	1.01	(0.70)	1.28	(1.86)	4.65
PNM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SO	1.02	0.09	0.06	0.42	1.32	(0.98)	2.38	(2.14)	7.03

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