CenterPoint Energy Correlations

CNP Stock

USD 38.78 0.09 0.23%

The current 90-days correlation between CenterPoint Energy and Centrais Eltricas Brasileiras is 0.02 (i.e., Significant diversification). The correlation of CenterPoint Energy 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.

CenterPoint Energy Correlation With Market

Excellent diversification

The correlation between CenterPoint Energy and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CenterPoint Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CenterPoint Stock

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

To learn how to invest in CenterPoint Stock, please use our How to Invest in CenterPoint Energy guide.

Moving together with CenterPoint Stock

0.78	D	Dominion Energy	Pair Corr
0.87	NI	NiSource	Pair Corr
0.78	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.66	PEG	Public Service Enterprise	Pair Corr
0.82	WEC	WEC Energy Group	Pair Corr
0.65	CMSA	CMS Energy Corp	Pair Corr
0.61	AUHIF	Advance United Holdings	Pair Corr

Moving against CenterPoint Stock

0.4	CNL	Collective Mining	Pair Corr
0.57	PPERF	Bank Mandiri Persero	Pair Corr
0.48	KODK	Eastman Kodak	Pair Corr
0.44	PPERY	Bank Mandiri Persero	Pair Corr
0.44	NXST	Nexstar Broadcasting	Pair Corr
0.32	TORO	Toro	Pair Corr
0.31	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.59	ALTI	Alvarium Tiedemann	Pair Corr
0.52	OZK	Bank Ozk	Pair Corr

Related Correlations Analysis

	SO	EBR-B	FTS	AWK	ATO	EBR	FE	PPL	AEE	DTE
SO		-0.66	0.15	-0.09	0.23	0.16	0.56	0.84	0.6	0.7	SO
EBR-B	-0.66		0.13	0.33	-0.24	0.11	-0.19	-0.44	-0.32	-0.43	EBR-B
FTS	0.15	0.13		0.38	0.01	-0.16	0.44	0.37	0.4	0.08	FTS
AWK	-0.09	0.33	0.38		0.04	-0.09	0.02	0.07	0.14	0.12	AWK
ATO	0.23	-0.24	0.01	0.04		0.27	0.31	0.32	0.72	0.73	ATO
EBR	0.16	0.11	-0.16	-0.09	0.27		0.13	0.07	-0.02	0.04	EBR
FE	0.56	-0.19	0.44	0.02	0.31	0.13		0.74	0.81	0.73	FE
PPL	0.84	-0.44	0.37	0.07	0.32	0.07	0.74		0.84	0.83	PPL
AEE	0.6	-0.32	0.4	0.14	0.72	-0.02	0.81	0.84		0.89	AEE
DTE	0.7	-0.43	0.08	0.12	0.73	0.04	0.73	0.83	0.89		DTE
	SO	EBR-B	FTS	AWK	ATO	EBR	FE	PPL	AEE	DTE

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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

DTE	+ 0.89	AEE
PPL	+ 0.84	SO
AEE	+ 0.84	PPL
DTE	+ 0.83	PPL
AEE	+ 0.81	FE
PPL	+ 0.74	FE

High negative correlations

EBR-B	- 0.66	SO
PPL	- 0.44	EBR-B
DTE	- 0.43	EBR-B
AEE	- 0.32	EBR-B
ATO	- 0.24	EBR-B
FE	- 0.19	EBR-B

Risk-Adjusted Indicators

There is a big difference between CenterPoint Stock performing well and CenterPoint Energy 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 CenterPoint Energy'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
SO	0.74	(0.17)	0.00	(1.60)	0.00	0.00	1.10	(1.81)	4.07
EBR-B	2.54	0.66	0.07	(0.35)	4.47	(2.74)	5.25	(3.48)	31.49
FTS	0.62	0.06	(0.02)	8.14	0.58	(0.77)	1.26	(0.99)	2.88
AWK	1.10	(0.10)	0.00	(0.57)	0.00	0.00	1.95	(2.24)	5.84
ATO	0.73	(0.11)	0.00	(0.75)	0.00	0.00	1.03	(1.62)	4.31
EBR	0.84	0.74	0.00	(37.53)	0.00	0.00	2.59	(0.85)	2.59
FE	0.68	0.01	(0.06)	(0.23)	0.97	(0.61)	1.27	(1.34)	4.05
PPL	0.81	(0.06)	0.00	(0.33)	0.00	0.00	1.57	(1.61)	4.62
AEE	0.74	(0.05)	0.00	(0.17)	0.00	0.00	1.09	(1.45)	5.74
DTE	0.75	(0.10)	0.00	(0.22)	0.00	0.00	1.32	(1.74)	4.73

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