SJW Group Correlations

SJW Stock

USD 51.41 0.73 1.40%

The current 90-days correlation between SJW Group Common and California Water Service is -0.06 (i.e., Good diversification). The correlation of SJW Group 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.

SJW Group Correlation With Market

Good diversification

The correlation between SJW Group Common and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SJW Group Common and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SJW Group Common. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with SJW Stock

0.84	WTRG	Essential Utilities	Pair Corr
0.78	AWK	American Water Works	Pair Corr
0.64	AWR	American States Water	Pair Corr
0.82	CWT	California Water Service	Pair Corr
0.83	YORW	York Water	Pair Corr
0.87	ARTNA	Artesian Resources	Pair Corr
0.69	MSEX	Middlesex Water	Pair Corr
0.61	CWCO	Consolidated Water Earnings Call This Week	Pair Corr
0.77	ED	Consolidated Edison	Pair Corr
0.79	ES	Eversource Energy	Pair Corr
0.87	HE	Hawaiian Electric	Pair Corr
0.63	NI	NiSource	Pair Corr
0.72	SO	Southern	Pair Corr
0.69	SR	Spire Inc	Pair Corr
0.77	DUKB	Duke Energy Corp	Pair Corr
0.61	CMS-PB	Consumers Energy	Pair Corr
0.65	ELPC	Companhia Paranaense	Pair Corr
0.69	ENIC	Enel Chile SA	Pair Corr
0.66	EVRG	Evergy,	Pair Corr
0.68	AQN	Algonquin Power Utilities	Pair Corr

Moving against SJW Stock

0.61	CDZI	Cadiz Inc Earnings Call This Week	Pair Corr
0.61	VSTE	Vast Renewables	Pair Corr
0.52	ELLO	Ellomay Capital	Pair Corr
0.42	BIP	Brookfield Infrastructure	Pair Corr
0.42	CEG	Constellation Energy Corp	Pair Corr
0.4	RNWWW	ReNew Energy Global	Pair Corr

Related Correlations Analysis

	CWT	ARTNA	YORW	AWR	MSEX	CWCO	WTRG	AWK
CWT		0.82	0.84	0.79	0.84	0.47	0.84	0.72	CWT
ARTNA	0.82		0.92	0.85	0.71	0.36	0.85	0.7	ARTNA
YORW	0.84	0.92		0.88	0.82	0.39	0.91	0.77	YORW
AWR	0.79	0.85	0.88		0.75	0.05	0.8	0.56	AWR
MSEX	0.84	0.71	0.82	0.75		0.47	0.9	0.84	MSEX
CWCO	0.47	0.36	0.39	0.05	0.47		0.52	0.74	CWCO
WTRG	0.84	0.85	0.91	0.8	0.9	0.52		0.92	WTRG
AWK	0.72	0.7	0.77	0.56	0.84	0.74	0.92		AWK
	CWT	ARTNA	YORW	AWR	MSEX	CWCO	WTRG	AWK

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Risk-Adjusted Indicators

There is a big difference between SJW Stock performing well and SJW Group 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 SJW Group'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
CWT	1.18	(0.03)	0.00	(0.17)	0.00	0.00	2.37	(2.47)	7.58
ARTNA	1.26	(0.10)	0.00	0.20	0.00	0.00	2.46	(3.00)	6.31
YORW	1.09	(0.03)	0.04	0.01	1.50	(1.17)	2.68	(2.90)	6.67
AWR	1.15	(0.13)	0.00	0.26	0.00	0.00	2.28	(2.90)	7.60
MSEX	1.69	0.01	0.05	(0.10)	1.86	(2.04)	3.60	(3.06)	19.17
CWCO	1.31	0.17	0.11	0.21	1.82	(1.41)	2.43	(2.00)	10.06
WTRG	1.18	0.01	0.07	(0.12)	1.51	(1.26)	2.65	(2.65)	8.56
AWK	1.20	0.12	0.14	(0.41)	1.40	(1.35)	2.74	(2.79)	10.78

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