UNITIL Correlations

UTL Stock

USD 48.44 0.15 0.31%

The current 90-days correlation between UNITIL and Middlesex Water is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as UNITIL moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if UNITIL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

UNITIL Correlation With Market

Average diversification

The correlation between UNITIL and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNITIL and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with UNITIL Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in UNITIL. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

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

Moving against UNITIL Stock

0.54	CMSA	CMS Energy Corp	Pair Corr
0.49	TLN	Talen Energy	Pair Corr
0.38	SOJC	Southern	Pair Corr
0.34	SOJE	Southern Company	Pair Corr
0.37	037833BH2	APPLE INC 4375	Pair Corr
0.32	DTW	DTE Energy	Pair Corr

Related Correlations Analysis

	MSEX	NEP	EAI	NRGV	ETI	CWCO	YORW	MNTK	SPH	ARTNA
MSEX		-0.01	0.72	-0.14	0.0	0.27	-0.15	0.73	-0.43	0.87	MSEX
NEP	-0.01		0.13	-0.51	0.0	-0.45	-0.31	0.21	-0.1	-0.07	NEP
EAI	0.72	0.13		0.01	0.0	0.23	-0.01	0.68	-0.3	0.61	EAI
NRGV	-0.14	-0.51	0.01		0.0	0.53	0.63	-0.2	0.22	-0.08	NRGV
ETI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ETI
CWCO	0.27	-0.45	0.23	0.53	0.0		0.5	0.11	0.12	0.44	CWCO
YORW	-0.15	-0.31	-0.01	0.63	0.0	0.5		-0.49	0.61	-0.06	YORW
MNTK	0.73	0.21	0.68	-0.2	0.0	0.11	-0.49		-0.6	0.67	MNTK
SPH	-0.43	-0.1	-0.3	0.22	0.0	0.12	0.61	-0.6		-0.45	SPH
ARTNA	0.87	-0.07	0.61	-0.08	0.0	0.44	-0.06	0.67	-0.45		ARTNA
	MSEX	NEP	EAI	NRGV	ETI	CWCO	YORW	MNTK	SPH	ARTNA

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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

ARTNA	+ 0.87	MSEX
MNTK	+ 0.73	MSEX
EAI	+ 0.72	MSEX
MNTK	+ 0.68	EAI
ARTNA	+ 0.67	MNTK
YORW	+ 0.63	NRGV

High negative correlations

SPH	- 0.6	MNTK
NRGV	- 0.51	NEP
MNTK	- 0.49	YORW
ARTNA	- 0.45	SPH
CWCO	- 0.45	NEP
SPH	- 0.43	MSEX

Risk-Adjusted Indicators

There is a big difference between UNITIL Stock performing well and UNITIL 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 UNITIL'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
MSEX	1.53	(0.07)	0.00	(0.13)	0.00	0.00	2.92	(3.32)	16.71
NEP	2.80	(0.88)	0.00	(10.04)	0.00	0.00	4.13	(6.77)	37.72
EAI	0.37	(0.05)	0.00	(0.10)	0.00	0.00	0.71	(0.81)	2.48
NRGV	4.88	0.66	0.12	0.21	6.08	(5.06)	12.28	(9.23)	40.66
ETI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWCO	1.21	(0.03)	(0.01)	0.02	1.62	(1.21)	2.25	(2.84)	11.81
YORW	0.93	0.08	0.03	0.32	1.31	(0.93)	1.95	(1.56)	9.08
MNTK	3.87	(0.36)	0.00	(0.04)	0.00	0.00	7.14	(9.01)	38.67
SPH	0.85	(0.01)	(0.02)	0.04	1.20	(0.86)	1.69	(1.75)	5.44
ARTNA	0.88	(0.02)	0.00	0.88	0.00	0.00	1.58	(2.35)	6.39

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