Chesapeake Utilities Correlations

CPK Stock

USD 131.87 1.57 1.20%

The current 90-days correlation between Chesapeake Utilities and MGE Energy is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Chesapeake Utilities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Chesapeake Utilities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Chesapeake Utilities Correlation With Market

Weak diversification

The correlation between Chesapeake Utilities and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Chesapeake Utilities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Chesapeake Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Chesapeake 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 information on how to buy Chesapeake Stock please use our How to buy in Chesapeake Stock guide.

Moving together with Chesapeake Stock

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0.8	TLN	Talen Energy	Pair Corr
0.89	CMSA	CMS Energy Corp	Pair Corr
0.9	PLUG	Plug Power	Pair Corr
0.64	NVDA	NVIDIA	Pair Corr
0.76	GRAB	Grab Holdings Aggressive Push	Pair Corr
0.62	F	Ford Motor Earnings Call This Week	Pair Corr
0.8	NIO	Nio Class A	Pair Corr
0.88	MPW	Medical Properties Trust	Pair Corr
0.63	SAXJY	Sa Sa International	Pair Corr
0.88	HANCF	Hanstone Gold Corp	Pair Corr
0.8	AGX	Argan Inc	Pair Corr
0.67	HHUSF	Hua Hong Semiconductor	Pair Corr
0.74	RGNX	Regenxbio	Pair Corr
0.9	FPWM	1st Prestige Wealth	Pair Corr
0.81	DRMMF	Dream International	Pair Corr
0.7	GRWG	GrowGeneration Corp	Pair Corr
0.93	NBIS	Nebius Group NV Buyout Trend	Pair Corr
0.83	CRUS	Cirrus Logic	Pair Corr
0.68	LAKE	Lakeland Industries	Pair Corr
0.91	MNQFF	Manulife Financial Corp	Pair Corr
0.87	DLTTF	Dalata Hotel Group	Pair Corr
0.74	RKLB	Rocket Lab USA	Pair Corr
0.93	SNPTF	Sunny Optical Technology Downward Rally	Pair Corr
0.81	DDS	Dillards,	Pair Corr
0.72	SFES	Safeguard Scientifics	Pair Corr
0.94	USGO	US GoldMining Common	Pair Corr

Related Correlations Analysis

	MGEE	EE	AWR	AVA	CWT	OTTR	SR	NWN	RNW	NWE
MGEE		0.09	0.56	0.38	0.56	0.14	0.21	0.19	-0.2	0.32	MGEE
EE	0.09		0.13	0.67	0.45	-0.64	0.82	0.71	0.3	0.56	EE
AWR	0.56	0.13		0.54	0.82	-0.08	0.17	0.06	-0.47	0.26	AWR
AVA	0.38	0.67	0.54		0.76	-0.43	0.79	0.72	0.0	0.66	AVA
CWT	0.56	0.45	0.82	0.76		-0.13	0.6	0.55	-0.14	0.72	CWT
OTTR	0.14	-0.64	-0.08	-0.43	-0.13		-0.43	-0.24	0.03	0.05	OTTR
SR	0.21	0.82	0.17	0.79	0.6	-0.43		0.95	0.33	0.83	SR
NWN	0.19	0.71	0.06	0.72	0.55	-0.24	0.95		0.36	0.88	NWN
RNW	-0.2	0.3	-0.47	0.0	-0.14	0.03	0.33	0.36		0.35	RNW
NWE	0.32	0.56	0.26	0.66	0.72	0.05	0.83	0.88	0.35		NWE
	MGEE	EE	AWR	AVA	CWT	OTTR	SR	NWN	RNW	NWE

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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

NWN	+ 0.95	SR
NWE	+ 0.88	NWN
NWE	+ 0.83	SR
SR	+ 0.82	EE
CWT	+ 0.82	AWR
SR	+ 0.79	AVA

High negative correlations

OTTR	- 0.64	EE
RNW	- 0.47	AWR
SR	- 0.43	OTTR
OTTR	- 0.43	AVA
NWN	- 0.24	OTTR
RNW	- 0.2	MGEE

Risk-Adjusted Indicators

There is a big difference between Chesapeake Stock performing well and Chesapeake 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 Chesapeake 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
MGEE	0.91	(0.06)	(0.06)	0.01	1.09	(0.96)	1.88	(1.87)	5.44
EE	1.61	0.09	0.02	0.35	1.92	(1.69)	3.23	(3.02)	9.10
AWR	0.85	0.06	(0.02)	6.99	0.97	(0.91)	1.68	(1.40)	5.49
AVA	0.80	0.08	0.02	0.30	1.07	(0.85)	1.85	(1.40)	5.94
CWT	0.89	0.15	0.06	1.77	1.00	(0.95)	2.26	(1.90)	5.20
OTTR	1.01	(0.06)	(0.04)	0.02	1.20	(1.04)	2.73	(1.95)	9.10
SR	0.85	0.17	0.13	0.29	0.97	(0.93)	2.17	(1.50)	4.48
NWN	0.76	0.22	0.19	0.56	0.62	(0.86)	1.78	(1.55)	5.12
RNW	0.99	0.00	(0.06)	1.20	1.25	(1.07)	2.41	(2.02)	10.13
NWE	0.89	0.24	0.20	0.44	0.71	(1.00)	2.19	(1.56)	8.87

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