Atmos Energy Correlations

ATO Stock

USD 171.38 0.12 0.07%

The current 90-days correlation between Atmos Energy and DTE Energy is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Atmos Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atmos Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Atmos Energy Correlation With Market

Excellent diversification

The correlation between Atmos Energy and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atmos Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Atmos Stock

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

To learn how to invest in Atmos Stock, please use our How to Invest in Atmos Energy guide.

Moving together with Atmos Stock

0.85	CPK	Chesapeake Utilities	Pair Corr
0.82	CH5	Chesapeake Utilities	Pair Corr
0.71	POM	POMDOCTOR LIMITED	Pair Corr
0.71	STI	Solidion Technology	Pair Corr
0.84	PNGM	Er Therapeutics	Pair Corr

Moving against Atmos Stock

0.76	BNKHF	BOC Hong Kong	Pair Corr
0.73	FIBK	First Interstate Ban Normal Trading	Pair Corr
0.68	CNL	Collective Mining	Pair Corr
0.67	BIMT	Bitmis Corp	Pair Corr
0.53	FCTI	Fact Inc	Pair Corr
0.52	APETF	Alpha Esports Tech	Pair Corr
0.42	AROC	Archrock Symbol Change	Pair Corr
0.31	NFG	National Fuel Gas	Pair Corr
0.79	CRH	CRH PLC ADR	Pair Corr
0.67	JUPGF	Jupiter Gold	Pair Corr
0.67	KCDMY	Kimberly Clark de	Pair Corr
0.66	NEWTH	NewtekOne 8625 percent	Pair Corr
0.65	COMP	Compass	Pair Corr
0.62	PGEZF	Group Ten Metals	Pair Corr
0.62	OMC	Omnicom Group Earnings Call Tomorrow	Pair Corr
0.6	YLLXF	Yellow Cake plc	Pair Corr
0.6	ENS	Enersys Earnings Call This Week	Pair Corr
0.59	SCAGW	Scage Future Warrants	Pair Corr
0.59	SPLPP	Steel Partners Holdings	Pair Corr

Related Correlations Analysis

	DTE	AEE	ES	FE	PPL	CNP	FTS	SO	EBR-B	AWK
DTE		0.93	0.52	0.86	0.85	0.88	0.48	0.78	-0.46	-0.15	DTE
AEE	0.93		0.37	0.91	0.86	0.94	0.61	0.81	-0.28	-0.16	AEE
ES	0.52	0.37		0.24	0.58	0.27	0.01	0.53	-0.35	-0.01	ES
FE	0.86	0.91	0.24		0.83	0.91	0.63	0.68	-0.27	-0.15	FE
PPL	0.85	0.86	0.58	0.83		0.76	0.43	0.79	-0.39	-0.01	PPL
CNP	0.88	0.94	0.27	0.91	0.76		0.7	0.75	-0.19	-0.19	CNP
FTS	0.48	0.61	0.01	0.63	0.43	0.7		0.3	0.28	-0.2	FTS
SO	0.78	0.81	0.53	0.68	0.79	0.75	0.3		-0.38	-0.28	SO
EBR-B	-0.46	-0.28	-0.35	-0.27	-0.39	-0.19	0.28	-0.38		-0.08	EBR-B
AWK	-0.15	-0.16	-0.01	-0.15	-0.01	-0.19	-0.2	-0.28	-0.08		AWK
	DTE	AEE	ES	FE	PPL	CNP	FTS	SO	EBR-B	AWK

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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

CNP	+ 0.94	AEE
AEE	+ 0.93	DTE
FE	+ 0.91	AEE
CNP	+ 0.91	FE
CNP	+ 0.88	DTE
FE	+ 0.86	DTE

High negative correlations

EBR-B	- 0.46	DTE
EBR-B	- 0.39	PPL
EBR-B	- 0.38	SO
EBR-B	- 0.35	ES
AWK	- 0.28	SO
EBR-B	- 0.28	AEE

Risk-Adjusted Indicators

There is a big difference between Atmos Stock performing well and Atmos Energy 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 Atmos Energy'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
DTE	0.71	0.01	(0.05)	0.11	1.08	(0.61)	1.45	(1.55)	4.73
AEE	0.71	0.04	(0.02)	0.36	0.95	(0.68)	1.23	(1.45)	5.74
ES	1.12	(0.13)	0.00	(0.94)	0.00	0.00	1.75	(1.87)	14.53
FE	0.67	0.05	(0.04)	(0.53)	0.88	(0.63)	1.36	(1.31)	4.07
PPL	0.82	(0.02)	0.00	(0.11)	0.00	0.00	1.57	(1.61)	4.62
CNP	0.71	0.07	(0.01)	(0.70)	0.88	(0.72)	1.37	(1.67)	3.57
FTS	0.67	0.15	0.07	(0.57)	0.58	(0.83)	1.38	(1.17)	2.88
SO	0.74	(0.04)	0.00	2.48	0.00	0.00	1.10	(1.81)	4.07
EBR-B	2.54	0.63	0.07	(0.53)	4.47	(2.74)	5.25	(3.48)	31.49
AWK	1.00	(0.01)	0.00	0.49	0.00	0.00	1.95	(2.09)	6.26

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