Central Puerto Correlations

CEPU Stock

USD 14.21 0.86 6.44%

The current 90-days correlation between Central Puerto SA and MGE Energy is 0.03 (i.e., Significant diversification). The correlation of Central Puerto 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.

Central Puerto Correlation With Market

Good diversification

The correlation between Central Puerto SA and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Central Puerto SA 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 Central Puerto SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Central Stock

0.61	CNP	CenterPoint Energy	Pair Corr
0.76	EDN	Empresa Distribuidora	Pair Corr

Moving against Central Stock

0.64	SO	Southern	Pair Corr
0.61	ED	Consolidated Edison	Pair Corr
0.55	D	Dominion Energy	Pair Corr
0.54	CMS-PB	Consumers Energy	Pair Corr
0.51	ES	Eversource Energy	Pair Corr
0.51	FE	FirstEnergy Earnings Call This Week	Pair Corr
0.48	CMS-PC	CMS Energy	Pair Corr
0.42	AEP	American Electric Power Sell-off Trend	Pair Corr
0.4	DUK	Duke Energy Earnings Call This Week	Pair Corr
0.36	HE	Hawaiian Electric	Pair Corr
0.6	NGG	National Grid PLC	Pair Corr
0.52	KEP	Korea Electric Power	Pair Corr
0.47	GNE	Genie Energy	Pair Corr
0.46	NEE	Nextera Energy Aggressive Push	Pair Corr
0.46	POR	Portland General Electric	Pair Corr
0.36	PNW	Pinnacle West Capital	Pair Corr
0.35	FTS	Fortis Inc Earnings Call Next Week	Pair Corr
0.31	NWE	NorthWestern	Pair Corr
0.62	NEE-PN	Nextera Energy	Pair Corr
0.44	ETI-P	Entergy Texas	Pair Corr

Related Correlations Analysis

	KEP	EBR	MGEE	IDA	ENIC	EBR-B	CMS	GNE	EDN	ETI-P
KEP		0.5	0.66	0.74	-0.72	0.39	0.79	0.51	-0.36	0.77	KEP
EBR	0.5		0.09	0.19	-0.2	0.95	0.3	0.35	-0.58	0.64	EBR
MGEE	0.66	0.09		0.94	-0.75	0.0	0.68	0.56	0.01	0.56	MGEE
IDA	0.74	0.19	0.94		-0.69	0.1	0.76	0.47	-0.02	0.66	IDA
ENIC	-0.72	-0.2	-0.75	-0.69		-0.09	-0.65	-0.57	0.16	-0.6	ENIC
EBR-B	0.39	0.95	0.0	0.1	-0.09		0.2	0.36	-0.63	0.52	EBR-B
CMS	0.79	0.3	0.68	0.76	-0.65	0.2		0.43	-0.18	0.64	CMS
GNE	0.51	0.35	0.56	0.47	-0.57	0.36	0.43		-0.4	0.33	GNE
EDN	-0.36	-0.58	0.01	-0.02	0.16	-0.63	-0.18	-0.4		-0.31	EDN
ETI-P	0.77	0.64	0.56	0.66	-0.6	0.52	0.64	0.33	-0.31		ETI-P
	KEP	EBR	MGEE	IDA	ENIC	EBR-B	CMS	GNE	EDN	ETI-P

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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

EBR-B	+ 0.95	EBR
IDA	+ 0.94	MGEE
CMS	+ 0.79	KEP
ETI-P	+ 0.77	KEP
CMS	+ 0.76	IDA
IDA	+ 0.74	KEP

High negative correlations

ENIC	- 0.75	MGEE
ENIC	- 0.72	KEP
ENIC	- 0.69	IDA
CMS	- 0.65	ENIC
EDN	- 0.63	EBR-B
ETI-P	- 0.6	ENIC

Risk-Adjusted Indicators

There is a big difference between Central Stock performing well and Central Puerto 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 Central Puerto'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
KEP	1.73	(0.21)	0.00	(0.67)	0.00	0.00	3.63	(3.53)	11.44
EBR	1.58	0.02	(0.02)	0.15	2.33	(1.48)	3.75	(3.66)	10.05
MGEE	1.33	(0.01)	(0.03)	0.07	1.83	(1.37)	3.37	(2.99)	14.05
IDA	0.90	0.02	(0.01)	0.13	1.21	(0.96)	2.35	(1.34)	6.86
ENIC	1.21	0.16	0.05	0.76	1.73	(1.26)	2.16	(3.06)	7.00
EBR-B	1.79	0.06	(0.01)	3.10	2.74	(1.61)	3.77	(3.25)	10.35
CMS	0.80	(0.06)	0.00	(0.21)	0.00	0.00	1.60	(1.88)	4.61
GNE	1.37	(0.13)	0.00	(0.38)	0.00	0.00	2.23	(2.61)	11.97
EDN	3.06	0.44	0.09	1.45	3.69	(3.52)	7.57	(5.71)	22.40
ETI-P	0.71	0.00	(0.07)	0.07	0.77	(0.92)	1.65	(1.25)	5.03

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