Essential Utilities Correlations

WTRG Stock

USD 38.51 0.35 0.90%

The current 90-days correlation between Essential Utilities and California Water Service is 0.84 (i.e., Very poor diversification). The correlation of Essential Utilities 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.

Essential Utilities Correlation With Market

Significant diversification

The correlation between Essential Utilities and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essential Utilities and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Essential Utilities. 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 Essential Stock please use our How to Invest in Essential Utilities guide.

Moving together with Essential Stock

0.93	AWK	American Water Works	Pair Corr
0.77	AWR	American States Water	Pair Corr
0.9	CWT	California Water Service	Pair Corr
0.83	SJW	SJW Group Common	Pair Corr
0.91	YORW	York Water	Pair Corr
0.82	ARTNA	Artesian Resources	Pair Corr
0.91	MSEX	Middlesex Water	Pair Corr
0.63	CWCO	Consolidated Water	Pair Corr
0.81	ED	Consolidated Edison	Pair Corr
0.66	ES	Eversource Energy	Pair Corr
0.85	HE	Hawaiian Electric	Pair Corr
0.81	SO	Southern	Pair Corr
0.69	SR	Spire Inc	Pair Corr
0.67	CMS-PB	Consumers Energy	Pair Corr
0.7	AQN	Algonquin Power Utilities	Pair Corr

Moving against Essential Stock

0.84	CDZI	Cadiz Inc Earnings Call This Week	Pair Corr
0.32	PCYO	Pure Cycle	Pair Corr
0.77	CEG	Constellation Energy Corp	Pair Corr
0.73	BIP	Brookfield Infrastructure	Pair Corr
0.62	VSTE	Vast Renewables	Pair Corr
0.58	RNWWW	ReNew Energy Global	Pair Corr
0.54	ADN	Advent Technologies	Pair Corr
0.37	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AWR	CWT	CWCO	SJW	MSEX	YORW	ARTNA	AWK	GWRS
AWR		0.88	0.2	0.64	0.77	0.86	0.83	0.57	0.25	AWR
CWT	0.88		0.52	0.88	0.83	0.93	0.93	0.77	0.05	CWT
CWCO	0.2	0.52		0.69	0.49	0.52	0.49	0.78	-0.35	CWCO
SJW	0.64	0.88	0.69		0.68	0.82	0.87	0.77	-0.18	SJW
MSEX	0.77	0.83	0.49	0.68		0.87	0.72	0.85	-0.01	MSEX
YORW	0.86	0.93	0.52	0.82	0.87		0.89	0.8	-0.11	YORW
ARTNA	0.83	0.93	0.49	0.87	0.72	0.89		0.69	0.06	ARTNA
AWK	0.57	0.77	0.78	0.77	0.85	0.8	0.69		-0.26	AWK
GWRS	0.25	0.05	-0.35	-0.18	-0.01	-0.11	0.06	-0.26		GWRS
	AWR	CWT	CWCO	SJW	MSEX	YORW	ARTNA	AWK	GWRS

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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

YORW	+ 0.93	CWT
ARTNA	+ 0.93	CWT
ARTNA	+ 0.89	YORW
CWT	+ 0.88	AWR
SJW	+ 0.88	CWT
ARTNA	+ 0.87	SJW

High negative correlations

GWRS	- 0.35	CWCO
GWRS	- 0.26	AWK
GWRS	- 0.18	SJW
GWRS	- 0.11	YORW
GWRS	- 0.01	MSEX

Risk-Adjusted Indicators

There is a big difference between Essential Stock performing well and Essential Utilities 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 Essential Utilities' 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
AWR	1.16	(0.11)	0.00	(0.39)	0.00	0.00	2.28	(2.90)	7.60
CWT	1.19	(0.04)	0.00	(0.18)	0.00	0.00	2.37	(2.47)	7.58
CWCO	1.37	0.10	0.06	0.10	1.94	(1.44)	2.43	(2.01)	10.06
SJW	1.41	(0.05)	0.00	(0.29)	0.00	0.00	3.31	(2.32)	10.19
MSEX	1.70	0.03	0.06	(0.15)	1.88	(2.00)	3.60	(3.06)	19.17
YORW	1.12	(0.04)	0.00	1.47	0.00	0.00	2.68	(2.90)	6.67
ARTNA	1.28	(0.11)	0.00	100.44	0.00	0.00	2.46	(3.00)	6.58
AWK	1.20	0.15	0.14	1.84	1.40	(1.39)	2.74	(2.79)	10.78
GWRS	1.10	(0.14)	0.00	(0.59)	0.00	0.00	2.31	(2.81)	5.86

Essential Utilities Corporate Management

Elizabeth Amato	Independent Director	Profile
Christina Kelly	Senior Officer	Profile
Whitney Kellett	Senior Officer	Profile
Ellen Ruff	Independent Director	Profile
Matthew Rhodes	Executive Vice President - Strategy and Corporate Development	Profile

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