Constellation Energy Correlations

CEG Stock

USD 316.36 1.12 0.36%

The current 90-days correlation between Constellation Energy Corp and Atlantica Sustainable Infrastructure is -0.02 (i.e., Good diversification). The correlation of Constellation Energy 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.

Constellation Energy Correlation With Market

Good diversification

The correlation between Constellation Energy Corp and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellation Energy Corp 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 Constellation Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving against Constellation Stock

0.49

Hawaiian Electric

Pair Corr

Related Correlations Analysis

	AY	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU
AY		-0.4	-0.83	-0.51	-0.91	-0.47	-0.88	0.34	AY
CWEN-A	-0.4		0.41	-0.05	0.3	0.99	0.3	0.2	CWEN-A
BEPC	-0.83	0.41		0.49	0.95	0.47	0.84	-0.14	BEPC
NEP	-0.51	-0.05	0.49		0.6	0.02	0.63	-0.21	NEP
BEP	-0.91	0.3	0.95	0.6		0.37	0.92	-0.31	BEP
CWEN	-0.47	0.99	0.47	0.02	0.37		0.37	0.17	CWEN
AQN	-0.88	0.3	0.84	0.63	0.92	0.37		-0.4	AQN
AQNU	0.34	0.2	-0.14	-0.21	-0.31	0.17	-0.4		AQNU
	AY	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU

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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

CWEN	+ 0.99	CWEN-A
BEP	+ 0.95	BEPC
AQN	+ 0.92	BEP
AQN	+ 0.84	BEPC
AQN	+ 0.63	NEP
BEP	+ 0.6	NEP

High negative correlations

BEP	- 0.91	AY
AQN	- 0.88	AY
BEPC	- 0.83	AY
NEP	- 0.51	AY
CWEN	- 0.47	AY
AQNU	- 0.4	AQN

Risk-Adjusted Indicators

There is a big difference between Constellation Stock performing well and Constellation 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 Constellation 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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AY	0.08	0.01	(0.05)	(1.15)	(0.10)	0.23	(0.18)	0.60
CWEN-A	1.49	(0.03)	0.00	(0.06)	0.00	3.42	(2.74)	15.50
BEPC	1.91	(0.24)	0.00	(0.39)	0.00	4.48	(4.10)	16.86
NEP	2.30	(0.52)	0.00	(1.01)	0.00	3.19	(5.54)	19.45
BEP	1.53	(0.35)	0.00	(0.65)	0.00	2.54	(3.70)	15.83
CWEN	1.47	(0.06)	0.00	(0.10)	0.00	3.14	(2.94)	14.81
AQN	1.25	(0.17)	0.00	(3.19)	0.00	2.39	(3.18)	6.59
AQNU	1.36	(0.06)	0.00	(0.26)	0.00	2.49	(3.18)	8.45

Constellation Energy Corporate Management

Phillip Barnett	VP Company	Profile
Susie Kutansky	Executive Officer	Profile
Michael Koehler	Executive Officer	Profile
James McHugh	Executive Officer	Profile

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