Red Electrica Correlations
| RDEIY Stock | USD 9.65 0.08 0.82% |
The current 90-days correlation between Red Electrica Corporacion and Engie Brasil Energia is 0.06 (i.e., Significant diversification). The correlation of Red Electrica 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Red Electrica Correlation With Market
Average diversification
The correlation between Red Electrica Corporacion and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Red Electrica Corporacion and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Red Electrica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Red Electrica 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 Red Electrica - 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 Red Electrica Corporacion to buy it.
Moving together with Red Pink Sheet
| 0.85 | SO | Southern | PairCorr |
| 0.83 | DUK | Duke Energy | PairCorr |
| 0.71 | NGG | National Grid PLC | PairCorr |
| 0.7 | DUK-PA | Duke Energy | PairCorr |
| 0.7 | AEP | American Electric Power | PairCorr |
| 0.62 | NGGTF | National Grid plc | PairCorr |
| 0.75 | EXC | Exelon | PairCorr |
| 0.61 | WM | Waste Management | PairCorr |
| 0.79 | GLU | Gabelli Global Utility | PairCorr |
| 0.94 | ISMAY | Indra Sistemas SA | PairCorr |
| 0.71 | AEM | Agnico Eagle Mines | PairCorr |
| 0.63 | TKOMF | Tokio Marine Holdings Normal Trading | PairCorr |
| 0.71 | GTN | Gray Television | PairCorr |
Moving against Red Pink Sheet
| 0.82 | PPERY | Bank Mandiri Persero Normal Trading | PairCorr |
| 0.78 | PBCRF | PT Bank Central | PairCorr |
| 0.77 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.74 | BKRKY | Bank Rakyat | PairCorr |
| 0.72 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.6 | PEG | Public Service Enterprise | PairCorr |
| 0.59 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.31 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.79 | PBCRY | Bank Central Asia | 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
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Risk-Adjusted Indicators
There is a big difference between Red Pink Sheet performing well and Red Electrica 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 Red Electrica'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EGIEY | 1.71 | 0.22 | 0.10 | 31.32 | 1.96 | 3.78 | 9.03 | |||
| EBR-B | 1.54 | 0.37 | 0.15 | 0.59 | 1.87 | 3.77 | 9.26 | |||
| EBR | 1.44 | 0.39 | 0.21 | 0.58 | 1.35 | 3.55 | 6.82 | |||
| AEE | 0.96 | 0.15 | 0.11 | 0.33 | 1.09 | 2.08 | 6.55 | |||
| PNM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CMS | 0.85 | 0.12 | 0.09 | 0.57 | 1.14 | 1.80 | 4.73 | |||
| EVRG | 0.74 | 0.12 | 0.10 | 0.41 | 1.01 | 1.28 | 4.65 | |||
| DUK | 0.92 | 0.12 | 0.10 | 1.08 | 1.00 | 1.65 | 4.59 | |||
| SO | 1.02 | 0.09 | 0.06 | 0.42 | 1.32 | 2.38 | 7.03 | |||
| AEP | 0.98 | 0.18 | 0.13 | 5.15 | 1.13 | 1.98 | 7.23 |
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Red Electrica Corporate Management
| Miryam Munoz | Communication Relations | Profile | |
| Roberto Merino | CEO Director | Profile | |
| Antonio Roy | Ma Area | Profile | |
| Mara Martn | Mang Area | Profile | |
| Irene Barrio | Head Relations | Profile | |
| Silvia Cruz | Chief Officer | Profile |