AES Correlations

AES Stock

USD 16.44 0.19 1.17%

The current 90-days correlation between AES and Brookfield Infrastructure Partners is 0.08 (i.e., Significant diversification). The correlation of AES 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. If the correlation is 0, the equities are not correlated; they are entirely random.

AES Correlation With Market

Poor diversification

The correlation between The AES and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The AES and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AES Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in The AES. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with AES Stock

0.65	ELLO	Ellomay Capital	Pair Corr
0.8	ENLT	Enlight Renewable Energy	Pair Corr
0.7	CWENA	Clearway Energy Class	Pair Corr
0.68	BEP	Brookfield Renewable	Pair Corr
0.79	ELEC	lectricite de Strasbourg Earnings Call Today	Pair Corr
0.78	GEV	GE Vernova LLC	Pair Corr
0.64	XIFR	XPLR Infrastructure	Pair Corr
0.72	KEN	Kenon Holdings	Pair Corr
0.76	ORA	Ormat Technologies	Pair Corr

Moving against AES Stock

0.75	VVPR	VivoPower International Earnings Call This Week	Pair Corr
0.67	IFN	Infragreen Group	Pair Corr
0.65	BKW	BKW AG	Pair Corr
0.51	CEZ	CEZ a s	Pair Corr
0.31	2CP	Capital Power	Pair Corr
0.75	GIP	Green Impact Partners	Pair Corr
0.73	WEB	Westbridge Energy	Pair Corr
0.7	DEL	Delorean	Pair Corr
0.66	LGI	LGI	Pair Corr
0.63	VRQ	VERGNET Split	Pair Corr
0.55	VST	Vistra Energy Corp	Pair Corr
0.5	9PAA	Pampa Energa SA	Pair Corr
0.48	NRA	NRG Energy	Pair Corr
0.46	REVV	ReVolve Renewable Power	Pair Corr
0.38	TZ1	TransAlta	Pair Corr
0.36	OEW	VERBUND AG ADR	Pair Corr

Related Correlations Analysis

	BIP	ELPC	CIG-C	WTRG	BEP	OGE	PNW	CIG	ENEAY
BIP		0.7	0.57	-0.34	0.7	0.53	0.64	0.57	0.59	BIP
ELPC	0.7		0.85	-0.13	0.71	0.51	0.77	0.84	0.43	ELPC
CIG-C	0.57	0.85		-0.11	0.66	0.34	0.78	0.91	0.31	CIG-C
WTRG	-0.34	-0.13	-0.11		-0.19	0.39	0.01	-0.03	-0.18	WTRG
BEP	0.7	0.71	0.66	-0.19		0.56	0.53	0.72	0.43	BEP
OGE	0.53	0.51	0.34	0.39	0.56		0.45	0.52	0.36	OGE
PNW	0.64	0.77	0.78	0.01	0.53	0.45		0.66	0.43	PNW
CIG	0.57	0.84	0.91	-0.03	0.72	0.52	0.66		0.33	CIG
ENEAY	0.59	0.43	0.31	-0.18	0.43	0.36	0.43	0.33		ENEAY
	BIP	ELPC	CIG-C	WTRG	BEP	OGE	PNW	CIG	ENEAY

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

CIG	+ 0.91	CIG-C
CIG-C	+ 0.85	ELPC
CIG	+ 0.84	ELPC
PNW	+ 0.78	CIG-C
PNW	+ 0.77	ELPC
CIG	+ 0.72	BEP

High negative correlations

WTRG	- 0.34	BIP
BEP	- 0.19	WTRG
ENEAY	- 0.18	WTRG
WTRG	- 0.13	ELPC
WTRG	- 0.11	CIG-C
CIG	- 0.03	WTRG

Risk-Adjusted Indicators

There is a big difference between AES Stock performing well and AES 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 AES'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
BIP	0.85	0.15	0.11	0.33	0.89	(0.93)	1.66	(1.59)	5.53
ELPC	2.17	0.24	0.06	0.51	2.89	(2.19)	4.60	(4.17)	13.43
CIG-C	1.61	0.12	0.03	0.31	1.90	(2.01)	4.09	(3.09)	12.96
WTRG	1.00	(0.06)	0.00	(0.91)	0.00	0.00	2.14	(2.19)	6.71
BEP	1.11	0.01	(0.03)	0.14	1.48	(1.31)	3.22	(2.20)	6.87
OGE	0.71	0.03	(0.05)	0.25	0.86	(0.73)	1.36	(1.46)	3.57
PNW	0.75	0.15	0.06	(3.71)	0.71	(0.80)	1.96	(1.14)	3.83
CIG	1.64	0.10	0.02	0.35	2.06	(1.70)	3.27	(3.20)	9.11
ENEAY	4.14	2.09	0.00	720.90	0.00	0.00	0.00	0.00	0.00

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