Eni SPA Correlations

E Stock

USD 36.50 1.03 2.74%

The current 90-days correlation between Eni SpA ADR and Kinder Morgan is 0.17 (i.e., Average diversification). The correlation of Eni SPA 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.

Eni SPA Correlation With Market

Modest diversification

The correlation between Eni SpA ADR and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eni SpA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eni Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eni SpA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Eni Stock

0.74	SU	Suncor Energy	Pair Corr
0.62	CVE	Cenovus Energy	Pair Corr
0.67	IMO	Imperial Oil Downward Rally	Pair Corr
0.65	EVT	Economic Investment Trust	Pair Corr
0.88	XOM	Exxon Mobil Corp	Pair Corr
0.81	001286	Shaanxi Energy Investment	Pair Corr
0.74	OYSE	Oyster Enterprises	Pair Corr
0.82	FCBBF	FinecoBank Banca Fineco	Pair Corr
0.75	BVFL	BV Financial, Common	Pair Corr
0.79	PACH	Pioneer Acquisition	Pair Corr

Moving against Eni Stock

0.85	EPM	Eclipse Metals	Pair Corr
0.81	0A4Y	AIM ImmunoTech	Pair Corr
0.69	BISI	Bisichi Mining PLC	Pair Corr
0.53	WWR	Westwater Resources	Pair Corr
0.42	VO	ValOre Metals Corp	Pair Corr
0.54	ENRT	Enertopia Corporatio	Pair Corr
0.47	LTNC	Labor Smart	Pair Corr

Related Correlations Analysis

	KMI	EQNR	ET	TRP	SLB	PSX	SU	IMO	EOG	MPLX
KMI		0.26	0.34	0.68	-0.23	-0.04	0.23	0.07	0.61	0.0	KMI
EQNR	0.26		0.46	0.07	-0.15	0.07	-0.08	0.1	0.55	-0.31	EQNR
ET	0.34	0.46		0.28	0.23	0.4	0.45	0.51	0.65	0.32	ET
TRP	0.68	0.07	0.28		0.22	0.39	0.73	0.49	0.35	0.53	TRP
SLB	-0.23	-0.15	0.23	0.22		0.88	0.64	0.4	-0.07	0.78	SLB
PSX	-0.04	0.07	0.4	0.39	0.88		0.68	0.52	0.12	0.76	PSX
SU	0.23	-0.08	0.45	0.73	0.64	0.68		0.83	0.23	0.86	SU
IMO	0.07	0.1	0.51	0.49	0.4	0.52	0.83		0.17	0.61	IMO
EOG	0.61	0.55	0.65	0.35	-0.07	0.12	0.23	0.17		0.02	EOG
MPLX	0.0	-0.31	0.32	0.53	0.78	0.76	0.86	0.61	0.02		MPLX
	KMI	EQNR	ET	TRP	SLB	PSX	SU	IMO	EOG	MPLX

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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

PSX	+ 0.88	SLB
MPLX	+ 0.86	SU
IMO	+ 0.83	SU
MPLX	+ 0.78	SLB
MPLX	+ 0.76	PSX
SU	+ 0.73	TRP

High negative correlations

MPLX	- 0.31	EQNR
SLB	- 0.23	KMI
SLB	- 0.15	EQNR
SU	- 0.08	EQNR
EOG	- 0.07	SLB
PSX	- 0.04	KMI

Risk-Adjusted Indicators

There is a big difference between Eni Stock performing well and Eni SPA 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 Eni SPA'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
KMI	0.93	(0.08)	0.00	(0.24)	0.00	0.00	1.65	(1.85)	6.02
EQNR	1.23	(0.12)	0.00	(1.34)	0.00	0.00	2.68	(3.01)	8.31
ET	0.78	(0.09)	0.00	(0.42)	0.00	0.00	1.92	(1.52)	3.98
TRP	0.82	0.03	(0.01)	0.16	0.91	(0.88)	2.09	(1.33)	4.83
SLB	1.55	0.09	0.04	0.16	1.82	(1.63)	3.18	(3.08)	8.22
PSX	1.31	(0.01)	(0.02)	0.05	1.81	(1.41)	2.81	(2.83)	6.56
SU	0.98	(0.01)	(0.04)	0.04	1.23	(1.01)	1.91	(1.92)	6.24
IMO	1.29	(0.14)	0.00	(0.34)	0.00	0.00	2.37	(2.27)	6.70
EOG	0.95	(0.26)	0.00	(0.48)	0.00	0.00	1.76	(2.26)	4.86
MPLX	0.79	0.09	0.04	0.40	0.85	(0.89)	1.93	(1.59)	4.37

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