Eni SPA Correlations

Stocks . USA . 
Stock . Eni SpA ADR
E Stock  USD 32.99  0.32  0.98%   
The current 90-days correlation between Eni SpA ADR and TotalEnergies SE ADR is 0.91 (i.e., Almost no 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

Poor diversification

The correlation between Eni SpA ADR and DJI is 0.62 (i.e., Poor 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.
  
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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 income.

Moving together with Eni Stock

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  0.95IMO Imperial OilPairCorr
  0.68NFG National Fuel GasPairCorr
  0.62PBR Petroleo Brasileiro Aggressive PushPairCorr
  0.83TTE TotalEnergies SE ADRPairCorr
  0.62XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.76YPF YPF Sociedad AnonimaPairCorr
  0.92SHEL Shell PLC ADRPairCorr
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Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TTE  1.45  0.03  0.01  0.05  2.12 
(1.46)
 2.60 
(3.65)
 10.06 
EC  1.84  0.08  0.02  0.09  2.94 
(1.79)
 3.64 
(5.76)
 18.07 
SHEL  1.30  0.06  0.02  0.08  2.42 
(1.18)
 2.62 
(4.06)
 13.36 
PBR  1.59 (0.02)(0.01)(0.01) 2.82 
(1.51)
 3.38 
(4.64)
 14.11 
EQNR  1.61  0.20  0.08  0.28  2.20 
(1.65)
 3.53 
(3.42)
 10.01 
BP  1.67 (0.09) 0.00 (0.08) 0.00 
 0.00 
 2.82 
(4.26)
 12.90 
GLPEY  1.51  0.19  0.06  4.11  2.54 
(1.47)
 3.54 
(3.31)
 11.99 
PBR-A  1.65 (0.03) 0.00 (0.03) 0.00 
 0.00 
 3.22 
(4.67)
 14.10 
YPF  2.82  0.01  0.00  0.02  3.53 
(3.04)
 8.65 
(5.49)
 15.74 
TGS  2.60  0.12  0.04  0.10  2.98 
(3.21)
 6.71 
(5.89)
 16.53 

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