AES Correlations

AES Stock

USD 13.30 0.06 0.45%

The current 90-days correlation between AES and Ameren Corp is 0.21 (i.e., Modest diversification). The correlation of AES 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.

AES Correlation With Market

Modest diversification

The correlation between The AES and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The AES and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AES Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The AES. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in national income and product accounts.

Moving together with AES Stock

0.72	ALE	Allete Inc	Pair Corr
0.66	AQN	Algonquin Power Utilities Sell-off Trend	Pair Corr
0.66	BIP-PB	Brookfield Infrastructure	Pair Corr
0.73	D	Dominion Energy	Pair Corr
0.66	ES	Eversource Energy	Pair Corr
0.77	NI	NiSource	Pair Corr
0.84	SO	Southern	Pair Corr
0.7	SR	Spire Inc	Pair Corr
0.7	CMS-PB	Consumers Energy	Pair Corr
0.82	CMS-PC	CMS Energy	Pair Corr
0.74	CDZIP	Cadiz Depositary Shares	Pair Corr
0.74	ELLO	Ellomay Capital Earnings Call Tomorrow	Pair Corr
0.76	ENLT	Enlight Renewable Energy	Pair Corr
0.71	EVRG	Evergy,	Pair Corr
0.78	AEE	Ameren Corp	Pair Corr
0.8	AEP	American Electric Power	Pair Corr
0.61	CEG	Constellation Energy Corp	Pair Corr
0.79	CMS	CMS Energy	Pair Corr

Moving against AES Stock

0.78	ENIC	Enel Chile SA	Pair Corr
0.65	UTL	UNITIL	Pair Corr
0.63	VGAS	Verde Clean Fuels	Pair Corr
0.61	RNWWW	ReNew Energy Global	Pair Corr
0.6	BIP	Brookfield Infrastructure	Pair Corr
0.43	ELPC	Companhia Paranaense	Pair Corr
0.36	AVA	Avista	Pair Corr
0.77	AWR	American States Water	Pair Corr
0.76	HTO	H2O America Symbol Change	Pair Corr
0.54	GNE	Genie Energy	Pair Corr
0.51	EDN	Empresa Distribuidora	Pair Corr
0.49	ELP	Companhia Paranaense	Pair Corr

Related Correlations Analysis

	AEE	ALE	AVA	BKH	CMS	CNP	EIX	ETR	NWE
AEE		0.65	-0.2	0.66	0.98	0.81	0.47	0.98	0.62	AEE
ALE	0.65		-0.14	0.44	0.7	0.56	0.37	0.64	0.43	ALE
AVA	-0.2	-0.14		0.21	-0.16	-0.1	0.46	-0.28	0.38	AVA
BKH	0.66	0.44	0.21		0.67	0.71	0.74	0.65	0.9	BKH
CMS	0.98	0.7	-0.16	0.67		0.8	0.49	0.94	0.65	CMS
CNP	0.81	0.56	-0.1	0.71	0.8		0.68	0.84	0.7	CNP
EIX	0.47	0.37	0.46	0.74	0.49	0.68		0.43	0.88	EIX
ETR	0.98	0.64	-0.28	0.65	0.94	0.84	0.43		0.58	ETR
NWE	0.62	0.43	0.38	0.9	0.65	0.7	0.88	0.58		NWE
	AEE	ALE	AVA	BKH	CMS	CNP	EIX	ETR	NWE

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	+ 0.98	AEE
ETR	+ 0.98	AEE
ETR	+ 0.94	CMS
NWE	+ 0.9	BKH
NWE	+ 0.88	EIX
ETR	+ 0.84	CNP

High negative correlations

ETR	- 0.28	AVA
AVA	- 0.2	AEE
CMS	- 0.16	AVA
AVA	- 0.14	ALE
CNP	- 0.1	AVA

Risk-Adjusted Indicators

There is a big difference between AES Stock performing well and AES 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 AES'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
AEE	0.73	0.05	0.00	0.20	0.84	(0.72)	1.46	(1.42)	3.40
ALE	0.28	(0.01)	(0.23)	(0.02)	0.34	(0.29)	0.58	(0.64)	2.51
AVA	0.83	(0.08)	0.00	(0.06)	0.00	0.00	1.53	(1.76)	6.16
BKH	0.77	0.04	0.00	0.15	0.93	(0.76)	1.32	(1.79)	4.27
CMS	0.77	0.02	(0.03)	0.13	0.88	(0.86)	1.39	(1.69)	3.82
CNP	0.80	0.04	(0.03)	0.46	0.88	(0.91)	1.94	(1.46)	5.18
EIX	1.37	(0.09)	(0.04)	0.00	2.21	(1.26)	2.56	(2.94)	9.87
ETR	0.90	0.08	0.05	0.23	0.87	(1.00)	1.89	(1.56)	4.00
NWE	0.90	0.04	0.01	0.15	1.05	(0.93)	1.73	(2.13)	3.98

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