American States Correlations

AWR Stock

USD 85.03 0.98 1.17%

The current 90-days correlation between American States Water and SJW Group Common is 0.03 (i.e., Significant diversification). The correlation of American States 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.

American States Correlation With Market

Modest diversification

The correlation between American States Water and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American States Water 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 American States Water. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with American Stock

0.82	MSEX	Middlesex Water	Pair Corr
0.61	PCYO	Pure Cycle	Pair Corr
0.67	AY	Atlantica Sustainable	Pair Corr
0.73	NI	NiSource	Pair Corr
0.68	EVRG	Evergy,	Pair Corr
0.78	AEE	Ameren Corp Sell-off Trend	Pair Corr

Moving against American Stock

0.5	ES	Eversource Energy	Pair Corr
0.33	FE	FirstEnergy	Pair Corr
0.52	ELPC	Companhia Paranaense Potential Growth	Pair Corr
0.38	RNWWW	ReNew Energy Global	Pair Corr
0.35	AES	AES	Pair Corr
0.35	AQN	Algonquin Power Utilities	Pair Corr
0.31	ENLT	Enlight Renewable Energy	Pair Corr

Related Correlations Analysis

	MSEX	SJW	YORW	ARTNA	CWT	GWRS	AWK	WTRG	CWCO
MSEX		-0.17	0.03	0.08	-0.2	0.76	-0.15	0.35	0.1	MSEX
SJW	-0.17		0.77	0.65	0.8	0.04	0.73	0.1	0.3	SJW
YORW	0.03	0.77		0.81	0.9	0.27	0.72	0.19	0.55	YORW
ARTNA	0.08	0.65	0.81		0.77	0.23	0.79	-0.03	0.26	ARTNA
CWT	-0.2	0.8	0.9	0.77		0.01	0.82	0.11	0.53	CWT
GWRS	0.76	0.04	0.27	0.23	0.01		0.04	0.38	0.25	GWRS
AWK	-0.15	0.73	0.72	0.79	0.82	0.04		-0.14	0.22	AWK
WTRG	0.35	0.1	0.19	-0.03	0.11	0.38	-0.14		0.34	WTRG
CWCO	0.1	0.3	0.55	0.26	0.53	0.25	0.22	0.34		CWCO
	MSEX	SJW	YORW	ARTNA	CWT	GWRS	AWK	WTRG	CWCO

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CWT	+ 0.9	YORW
AWK	+ 0.82	CWT
ARTNA	+ 0.81	YORW
CWT	+ 0.8	SJW
AWK	+ 0.79	ARTNA
YORW	+ 0.77	SJW

High negative correlations

CWT	- 0.2	MSEX
SJW	- 0.17	MSEX
AWK	- 0.15	MSEX
WTRG	- 0.14	AWK
WTRG	- 0.03	ARTNA

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American States 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 American States' 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	1.40	0.05	0.04	0.16	1.54	(1.47)	3.16	(2.35)	10.55
SJW	1.08	(0.11)	0.00	(0.27)	0.00	0.00	1.94	(2.65)	6.24
YORW	0.98	(0.18)	0.00	(0.07)	0.00	0.00	2.07	(2.23)	6.17
ARTNA	1.16	(0.12)	0.00	(0.08)	0.00	0.00	2.37	(2.25)	12.09
CWT	0.96	(0.13)	0.00	(0.12)	0.00	0.00	1.88	(1.73)	6.56
GWRS	1.53	0.03	0.04	0.14	1.60	(1.89)	4.16	(2.65)	9.59
AWK	0.92	(0.02)	0.00	1.97	0.00	0.00	1.78	(1.70)	5.42
WTRG	0.88	(0.02)	(0.08)	0.08	1.15	(0.85)	1.88	(1.70)	6.96
CWCO	1.49	(0.11)	(0.03)	0.05	1.76	(1.61)	3.68	(2.51)	9.18

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC