American Water Correlations

AWK Stock

USD 140.05 0.03 0.02%

The current 90-days correlation between American Water Works and Essential Utilities is 0.93 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as American Water moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if American Water Works moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

American Water Correlation With Market

Good diversification

The correlation between American Water Works and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Water Works and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Water Works. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with American Stock

0.86	WTRG	Essential Utilities Sell-off Trend	Pair Corr
0.73	AWR	American States Water	Pair Corr
0.8	CWT	California Water Service	Pair Corr
0.75	HTO	H2O America Symbol Change	Pair Corr
0.71	YORW	York Water	Pair Corr
0.67	MSEX	Middlesex Water	Pair Corr
0.81	ED	Consolidated Edison	Pair Corr
0.87	SO	Southern Sell-off Trend	Pair Corr
0.62	SR	Spire Inc	Pair Corr
0.67	EVRG	Evergy,	Pair Corr
0.85	AEP	American Electric Power	Pair Corr
0.76	AVA	Avista	Pair Corr

Moving against American Stock

0.38	CDZI	Cadiz Inc	Pair Corr
0.32	PCYO	Pure Cycle	Pair Corr
0.32	CWCO	Consolidated Water	Pair Corr
0.37	ENLT	Enlight Renewable Energy	Pair Corr
0.34	BEP	Brookfield Renewable	Pair Corr
0.33	AES	AES Aggressive Push	Pair Corr
0.32	CEG	Constellation Energy Corp	Pair Corr

Related Correlations Analysis

	CWT	MSEX	AWR	YORW	SJW	WTRG	ARTNA	GWRS
CWT		0.62	0.71	0.75	0.02	0.82	0.64	-0.22	CWT
MSEX	0.62		0.3	0.85	-0.28	0.58	-0.06	0.16	MSEX
AWR	0.71	0.3		0.44	0.01	0.82	0.8	0.04	AWR
YORW	0.75	0.85	0.44		-0.29	0.71	0.15	0.19	YORW
SJW	0.02	-0.28	0.01	-0.29		-0.14	0.3	-0.59	SJW
WTRG	0.82	0.58	0.82	0.71	-0.14		0.59	0.08	WTRG
ARTNA	0.64	-0.06	0.8	0.15	0.3	0.59		-0.37	ARTNA
GWRS	-0.22	0.16	0.04	0.19	-0.59	0.08	-0.37		GWRS
	CWT	MSEX	AWR	YORW	SJW	WTRG	ARTNA	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	+ 0.85	MSEX
WTRG	+ 0.82	CWT
WTRG	+ 0.82	AWR
ARTNA	+ 0.8	AWR
YORW	+ 0.75	CWT
AWR	+ 0.71	CWT

High negative correlations

GWRS	- 0.59	SJW
GWRS	- 0.37	ARTNA
SJW	- 0.29	YORW
SJW	- 0.28	MSEX
GWRS	- 0.22	CWT
WTRG	- 0.14	SJW

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Water 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 American Water'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	1.21	(0.02)	0.00	(0.40)	0.00	0.00	3.25	(2.29)	6.75
MSEX	1.42	(0.06)	0.00	(3.70)	0.00	0.00	3.58	(3.41)	10.20
AWR	1.14	(0.01)	0.00	(0.42)	1.40	(1.26)	2.26	(2.58)	6.42
YORW	1.22	(0.07)	0.00	0.48	0.00	0.00	2.57	(2.10)	8.19
SJW	1.41	0.17	0.12	(4.19)	1.35	(1.78)	3.47	(2.02)	8.12
WTRG	1.24	(0.02)	0.00	(0.42)	0.00	0.00	2.66	(2.94)	7.57
ARTNA	1.38	0.07	0.05	(0.90)	1.51	(1.50)	2.92	(2.56)	6.93
GWRS	1.20	(0.16)	0.00	(0.53)	0.00	0.00	1.95	(2.76)	6.82

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