Consumers Energy Correlations

CMS-PB Preferred Stock  USD 77.11  0.06  0.08%   
The current 90-days correlation between Consumers Energy and Nextera Energy is 0.04 (i.e., Significant diversification). The correlation of Consumers 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.

Consumers Energy Correlation With Market

Significant diversification

The correlation between Consumers Energy and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumers Energy and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Consumers Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Consumers Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Consumers Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Consumers Energy to buy it.

Moving together with Consumers Preferred Stock

  0.79D Dominion EnergyPairCorr
  0.84ED Consolidated EdisonPairCorr
  0.83ES Eversource EnergyPairCorr
  0.8FE FirstEnergy Earnings Call This WeekPairCorr
  0.8SO SouthernPairCorr
  0.84CMS-PC CMS EnergyPairCorr
  0.71CMS CMS EnergyPairCorr
  0.68DUK Duke Energy Earnings Call This WeekPairCorr
  0.71EBR Centrais ElectricasPairCorr
  0.67KEP Korea Electric PowerPairCorr
  0.81NEE Nextera Energy Aggressive PushPairCorr
  0.8NGG National Grid PLCPairCorr
  0.77POR Portland General ElectricPairCorr

Moving against Consumers Preferred Stock

  0.65ETR EntergyPairCorr
  0.64CNP CenterPoint EnergyPairCorr
  0.61ENIC Enel Chile SAPairCorr
  0.57EDN Empresa DistribuidoraPairCorr
  0.6PCG-PI Pacific GasPairCorr
  0.57VSTEW Vast RenewablesPairCorr
  0.56PCG-PC Pacific GasPairCorr
  0.48TLN Talen EnergyPairCorr

Related Correlations Analysis

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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   
SONEE-PR
EBR-BSO
ETI-PSO
EBR-BNEE-PR
ETI-PDUK-PA
PCGNEE-PR
  
High negative correlations   
PCGUPCG
PCGUSO
PCGUNEE-PR
ETI-PPCGU

Risk-Adjusted Indicators

There is a big difference between Consumers Preferred Stock performing well and Consumers 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 Consumers 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Consumers Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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