Southern Correlations

SOJC Preferred Stock

USD 21.67 0.19 0.87%

The current 90-days correlation between Southern and Fortis Inc is -0.26 (i.e., Very good diversification). The correlation of Southern 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.

Southern Correlation With Market

Very weak diversification

The correlation between Southern Co and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Southern could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Southern when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Southern - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Southern Co to buy it.

Moving together with Southern Preferred Stock

0.78	ADVWW	Advantage Solutions	Pair Corr
0.82	PCTTW	PureCycle Technologies	Pair Corr
0.74	MAPSW	WM Technology	Pair Corr
0.76	GCMGW	GCM Grosvenor	Pair Corr
0.81	JD	JD Inc Adr	Pair Corr

Moving against Southern Preferred Stock

0.73	ATCOL	Atlas Corp	Pair Corr
0.72	TCRT	Alaunos Therapeutics	Pair Corr
0.71	STX	Seagate Technology PLC	Pair Corr
0.6	ACN	Accenture plc Earnings Call This Week	Pair Corr
0.48	WMT	Walmart Aggressive Push	Pair Corr
0.88	AGX	Argan Inc	Pair Corr
0.82	PRTA	Prothena plc	Pair Corr
0.77	IAS	Integral Ad Science	Pair Corr
0.7	CTMCF	Canterra Minerals	Pair Corr
0.67	FULC	Fulcrum Therapeutics Trending	Pair Corr
0.63	OACC	Oaktree Acquisition Corp	Pair Corr
0.61	NOEM	CO2 Energy Transition	Pair Corr
0.53	NSRGF	Nestle SA	Pair Corr
0.52	PFG	Principal Financial	Pair Corr
0.47	DISPF	Disco Tech Boost	Pair Corr
0.33	ASTS	Ast Spacemobile Aggressive Push	Pair Corr
0.81	FYBR	Frontier Communications	Pair Corr
0.77	GEGYY	Genel Energy PLC	Pair Corr
0.74	DK	Delek Energy	Pair Corr
0.72	RL	Ralph Lauren Corp	Pair Corr
0.69	SVNLY	Svenska Handelsbanken	Pair Corr
0.63	NBTX	Nanobiotix	Pair Corr

Related Correlations Analysis

	FTS	EBR-B	PPL	FE	EBR	AEE	ES	CMS	DTE
FTS		0.7	0.18	0.83	0.67	0.69	0.25	0.78	0.1	FTS
EBR-B	0.7		-0.46	0.45	0.9	0.13	-0.06	0.2	-0.51	EBR-B
PPL	0.18	-0.46		0.51	-0.38	0.77	0.61	0.67	0.91	PPL
FE	0.83	0.45	0.51		0.49	0.87	0.49	0.86	0.42	FE
EBR	0.67	0.9	-0.38	0.49		0.14	0.08	0.25	-0.46	EBR
AEE	0.69	0.13	0.77	0.87	0.14		0.57	0.9	0.71	AEE
ES	0.25	-0.06	0.61	0.49	0.08	0.57		0.47	0.59	ES
CMS	0.78	0.2	0.67	0.86	0.25	0.9	0.47		0.55	CMS
DTE	0.1	-0.51	0.91	0.42	-0.46	0.71	0.59	0.55		DTE
	FTS	EBR-B	PPL	FE	EBR	AEE	ES	CMS	DTE

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

DTE	+ 0.91	PPL
EBR	+ 0.9	EBR-B
CMS	+ 0.9	AEE
AEE	+ 0.87	FE
CMS	+ 0.86	FE
FE	+ 0.83	FTS

High negative correlations

DTE	- 0.51	EBR-B
DTE	- 0.46	EBR
PPL	- 0.46	EBR-B
EBR	- 0.38	PPL
ES	- 0.06	EBR-B

Risk-Adjusted Indicators

There is a big difference between Southern Preferred Stock performing well and Southern 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 Southern'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
FTS	0.57	0.06	(0.02)	(0.89)	0.53	(0.66)	1.35	(0.94)	3.22
EBR-B	1.60	0.55	0.17	(11.09)	1.83	(1.86)	4.15	(2.80)	17.47
PPL	0.78	(0.10)	0.00	(2.29)	0.00	0.00	1.24	(1.73)	4.73
FE	0.70	0.04	(0.03)	(0.66)	1.00	(0.64)	1.10	(1.62)	5.40
EBR	1.30	0.57	0.32	4.90	0.97	(1.52)	3.69	(1.88)	7.18
AEE	0.70	(0.03)	0.00	(0.25)	0.00	0.00	1.31	(1.45)	5.74
ES	1.16	0.08	0.02	0.27	2.50	(1.12)	2.13	(1.91)	17.34
CMS	0.77	(0.05)	0.00	(0.18)	0.00	0.00	1.29	(1.56)	5.00
DTE	0.73	(0.06)	0.00	(0.27)	0.00	0.00	1.25	(1.81)	4.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in Southern without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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