Artesian Resources Correlations

Stocks . USA . 
Stock . Artesian Resources
ARTNA Stock  USD 30.85  0.07  0.23%   
The current 90-days correlation between Artesian Resources and The York Water is 0.65 (i.e., Poor diversification). The correlation of Artesian Resources 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.

Artesian Resources Correlation With Market

Weak diversification

The correlation between Artesian Resources and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Artesian Resources and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Artesian Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
For information on how to trade Artesian Stock refer to our How to Trade Artesian Stock guide.

Moving together with Artesian Stock

  0.94WTRG Essential Utilities Sell-off TrendPairCorr
  0.88AWK American Water Works Sell-off TrendPairCorr
  0.94AWR American States WaterPairCorr
  0.94CWT California Water ServicePairCorr
  0.73SBS Companhia de SaneamentoPairCorr
  0.94SJW SJW Group CommonPairCorr
  0.87GWRS Global Water ResourcesPairCorr
  0.97YORW York WaterPairCorr
  0.94MSEX Middlesex WaterPairCorr
  0.72D Dominion EnergyPairCorr
  0.79ED Consolidated Edison Sell-off TrendPairCorr
  0.74ES Eversource EnergyPairCorr
  0.81FE FirstEnergyPairCorr
  0.8HE Hawaiian Electric Earnings Call This WeekPairCorr
  0.77SO SouthernPairCorr
  0.71CMS-PB Consumers EnergyPairCorr
  0.82CMS-PC CMS EnergyPairCorr
  0.77ELPC Companhia ParanaensePairCorr
  0.74FLNC Fluence Energy Sell-off TrendPairCorr
  0.66AEP American Electric PowerPairCorr
  0.61AES AESPairCorr

Moving against Artesian Stock

  0.77CDZIP Cadiz Depositary SharesPairCorr
  0.77CDZI Cadiz IncPairCorr
  0.39ARIS Aris Water SolutionsPairCorr
  0.75AGR AvangridPairCorr
  0.72ELLO Ellomay CapitalPairCorr
  0.66ENIC Enel Chile SAPairCorr
  0.66ENLT Enlight Renewable EnergyPairCorr
  0.56ALE Allete IncPairCorr
  0.4WAVE Eco Wave PowerPairCorr
  0.4ADN Advent TechnologiesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Artesian Stock performing well and Artesian Resources 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 Artesian Resources' 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.

Artesian Resources Corporate Management

John ThaederSr. VP of OperationsProfile
CPA CPACorp FinProfile
Courtney EsqGeneral SecretaryProfile
Jennifer CPACorporate FinanceProfile
CPA CGMAExec SecProfile
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