FirstEnergy Correlations

FE Stock

USD 43.59 0.05 0.11%

The current 90-days correlation between FirstEnergy and CenterPoint Energy is 0.66 (i.e., Poor diversification). The correlation of FirstEnergy 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.

FirstEnergy Correlation With Market

Average diversification

The correlation between FirstEnergy and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FirstEnergy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FirstEnergy Stock

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

For information on how to trade FirstEnergy Stock refer to our How to Trade FirstEnergy Stock guide.

Moving together with FirstEnergy Stock

0.88	D	Dominion Energy	Pair Corr
0.61	ED	Consolidated Edison	Pair Corr
0.76	HE	Hawaiian Electric	Pair Corr
0.65	SO	Southern Sell-off Trend	Pair Corr
0.67	CMS-PB	Consumers Energy	Pair Corr
0.73	CMS-PC	CMS Energy	Pair Corr
0.75	EVRG	Evergy,	Pair Corr
0.87	AEE	Ameren Corp	Pair Corr
0.88	AEP	American Electric Power	Pair Corr
0.84	CMS	CMS Energy Sell-off Trend	Pair Corr
0.91	CNP	CenterPoint Energy	Pair Corr
0.89	DTE	DTE Energy	Pair Corr
0.9	DUK	Duke Energy	Pair Corr
0.78	EIX	Edison International	Pair Corr
0.88	EMA	Emera Incorporated	Pair Corr
0.89	ETR	Entergy	Pair Corr
0.95	EXC	Exelon	Pair Corr
0.96	FTS	Fortis Inc	Pair Corr
0.92	IDA	IDACORP	Pair Corr
0.88	LNT	Alliant Energy Corp	Pair Corr
0.91	NWE	NorthWestern	Pair Corr
0.8	OGE	OGE Energy	Pair Corr
0.73	PNW	Pinnacle West Capital	Pair Corr
0.87	POR	Portland General Electric	Pair Corr
0.83	PPL	PPL Corporation	Pair Corr
0.77	TLN	Talen Energy Buyout Trend	Pair Corr
0.85	WEC	WEC Energy Group	Pair Corr

Moving against FirstEnergy Stock

0.51	ENIC	Enel Chile SA	Pair Corr
0.89	GNE	Genie Energy	Pair Corr

Related Correlations Analysis

	CNP	PNW	EIX	PEG	AEP	ETR	SO	XEL	DUK	D
CNP		0.71	0.7	0.68	0.85	0.91	0.69	0.92	0.83	0.82	CNP
PNW	0.71		0.53	0.54	0.75	0.76	0.73	0.78	0.8	0.82	PNW
EIX	0.7	0.53		0.12	0.52	0.54	0.28	0.58	0.56	0.61	EIX
PEG	0.68	0.54	0.12		0.8	0.81	0.85	0.77	0.72	0.72	PEG
AEP	0.85	0.75	0.52	0.8		0.97	0.9	0.95	0.96	0.95	AEP
ETR	0.91	0.76	0.54	0.81	0.97		0.86	0.97	0.94	0.92	ETR
SO	0.69	0.73	0.28	0.85	0.9	0.86		0.88	0.83	0.86	SO
XEL	0.92	0.78	0.58	0.77	0.95	0.97	0.88		0.9	0.91	XEL
DUK	0.83	0.8	0.56	0.72	0.96	0.94	0.83	0.9		0.97	DUK
D	0.82	0.82	0.61	0.72	0.95	0.92	0.86	0.91	0.97		D
	CNP	PNW	EIX	PEG	AEP	ETR	SO	XEL	DUK	D

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Risk-Adjusted Indicators

There is a big difference between FirstEnergy Stock performing well and FirstEnergy 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 FirstEnergy'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
CNP	0.78	0.02	(0.09)	0.34	0.91	(0.86)	1.46	(1.44)	4.79
PNW	0.81	(0.03)	(0.10)	0.03	0.98	(0.83)	1.54	(1.50)	4.11
EIX	1.43	0.00	0.00	0.10	0.00	0.00	2.75	(3.49)	9.47
PEG	0.96	0.08	0.01	0.31	1.26	(0.95)	1.87	(2.19)	4.67
AEP	0.74	0.13	0.05	0.61	0.61	(0.85)	1.50	(1.20)	5.22
ETR	0.83	0.10	0.04	0.36	0.74	(0.93)	1.89	(1.46)	4.00
SO	0.64	0.05	(0.05)	0.32	0.73	(0.69)	1.41	(1.45)	3.20
XEL	0.80	0.02	(0.04)	0.17	0.89	(0.82)	1.69	(1.66)	4.17
DUK	0.69	0.09	(0.01)	0.79	0.73	(0.75)	1.36	(1.25)	3.91
D	0.90	0.07	0.01	0.26	0.84	(1.12)	1.77	(1.48)	6.12

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