Chesapeake Utilities Correlations

CPK Stock

USD 120.62 0.05 0.04%

The current 90-days correlation between Chesapeake Utilities and NewJersey Resources is 0.82 (i.e., Very poor 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

Modest diversification

The correlation between Chesapeake Utilities and DJI is 0.24 (i.e., Modest 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 american community survey.

For more information on how to buy Chesapeake Stock please use our How to buy in Chesapeake Stock guide.

Moving together with Chesapeake Stock

0.63	SR	Spire Inc Earnings Call This Week	Pair Corr
0.82	ATO	Atmos Energy Earnings Call This Week	Pair Corr
0.93	NJR	NewJersey Resources Earnings Call This Week	Pair Corr
0.91	NWN	Northwest Natural Gas Earnings Call This Week	Pair Corr
0.87	OGS	One Gas Earnings Call This Week	Pair Corr
0.72	SPH	Suburban Propane Partners Earnings Call This Week	Pair Corr
0.83	ED	Consolidated Edison Earnings Call This Week	Pair Corr
0.82	WTRG	Essential Utilities Earnings Call Today	Pair Corr

Moving against Chesapeake Stock

0.73	UGI	UGI Corporation Earnings Call This Week	Pair Corr
0.72	ES	Eversource Energy Earnings Call Today	Pair Corr
0.68	OPAL	OPAL Fuels Earnings Call This Week	Pair Corr
0.68	BIPC	Brookfield Infrastructure Earnings Call Today	Pair Corr
0.62	VG	Venture Global,	Pair Corr
0.59	CTRI	Centuri Holdings,	Pair Corr
0.39	D	Dominion Energy Earnings Call Tomorrow	Pair Corr
0.37	HE	Hawaiian Electric Earnings Call This Week	Pair Corr
0.75	ELPC	Companhia Paranaense	Pair Corr
0.51	AQN	Algonquin Power Utilities	Pair Corr
0.42	ENLT	Enlight Renewable Energy Earnings Call This Week	Pair Corr
0.32	AES	AES	Pair Corr

Related Correlations Analysis

	UGI	NJR	OGS	RGCO	NI	SWX	NWN	NWE
UGI		-0.76	-0.69	0.14	0.43	0.41	-0.64	-0.83	UGI
NJR	-0.76		0.85	-0.01	0.04	0.07	0.95	0.88	NJR
OGS	-0.69	0.85		-0.18	-0.08	-0.1	0.85	0.88	OGS
RGCO	0.14	-0.01	-0.18		0.03	0.27	0.08	-0.18	RGCO
NI	0.43	0.04	-0.08	0.03		0.85	0.08	-0.26	NI
SWX	0.41	0.07	-0.1	0.27	0.85		0.19	-0.32	SWX
NWN	-0.64	0.95	0.85	0.08	0.08	0.19		0.82	NWN
NWE	-0.83	0.88	0.88	-0.18	-0.26	-0.32	0.82		NWE
	UGI	NJR	OGS	RGCO	NI	SWX	NWN	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	NJR
NWE	+ 0.88	NJR
NWE	+ 0.88	OGS
OGS	+ 0.85	NJR
NWN	+ 0.85	OGS
SWX	+ 0.85	NI

High negative correlations

NWE	- 0.83	UGI
NJR	- 0.76	UGI
OGS	- 0.69	UGI
NWN	- 0.64	UGI
NWE	- 0.32	SWX
NWE	- 0.26	NI

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
UGI	0.79	0.11	(0.01)	0.59	1.15	(0.74)	1.54	(1.86)	7.74
NJR	0.77	(0.17)	0.00	(0.34)	0.00	0.00	1.26	(1.70)	4.43
OGS	1.04	(0.15)	0.00	(0.32)	0.00	0.00	1.54	(2.34)	6.71
RGCO	1.73	(0.13)	(0.07)	0.01	1.94	(2.07)	4.05	(3.51)	14.17
NI	0.91	0.07	(0.04)	0.58	1.11	(0.94)	2.15	(1.95)	6.03
SWX	1.18	0.10	(0.02)	1.31	1.76	(1.24)	2.55	(2.32)	11.50
NWN	0.94	(0.16)	0.00	(0.27)	0.00	0.00	1.64	(2.27)	6.27
NWE	0.87	(0.23)	0.00	(0.27)	0.00	0.00	1.29	(2.16)	4.57

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