CMS Energy Correlations

CMS-PC Preferred Stock

USD 17.99 0.13 0.72%

The current 90-days correlation between CMS Energy and The AES is 0.08 (i.e., Significant diversification). The correlation of CMS 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.

CMS Energy Correlation With Market

Very weak diversification

The correlation between CMS Energy and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMS Energy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CMS 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 CMS 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 CMS 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 CMS Energy to buy it.

Moving together with CMS Preferred Stock

0.82	SOJE	Southern Company	Pair Corr
0.8	SOJC	Southern	Pair Corr
0.79	CMSA	CMS Energy Corp	Pair Corr
0.76	DTW	DTE Energy	Pair Corr
0.66	PKX	POSCO Holdings	Pair Corr
0.71	EC	Ecopetrol SA ADR	Pair Corr
0.7	KLAC	KLA Tencor	Pair Corr
0.68	CDUAF	Canadian Utilities Earnings Call This Week	Pair Corr
0.82	COF-PI	Capital One Financial	Pair Corr
0.77	CHH	Choice Hotels Intern	Pair Corr
0.65	IGTA	Inception Growth Acq	Pair Corr
0.66	SIELF	Shanghai Electric	Pair Corr
0.69	NAT	Nordic American Tankers Earnings Call Today	Pair Corr

Moving against CMS Preferred Stock

0.48	PTAIF	PT Astra International	Pair Corr
0.46	POM	POMDOCTOR LIMITED	Pair Corr
0.31	PIFMY	Indofood Sukses Makmur	Pair Corr
0.55	OPTI	Optec International	Pair Corr
0.4	JUPGF	Jupiter Gold	Pair Corr
0.32	BREA	Brera Holdings PLC Symbol Change	Pair Corr
0.55	WBUY	WEBUY GLOBAL LTD	Pair Corr

Related Correlations Analysis

	ELPC	CIG-C	CIG	AES	UGI	BKH	BEP	IDA	OGE
ELPC		0.88	0.91	0.81	0.3	0.7	0.85	0.82	0.69	ELPC
CIG-C	0.88		0.94	0.85	0.37	0.64	0.79	0.8	0.53	CIG-C
CIG	0.91	0.94		0.84	0.34	0.63	0.8	0.8	0.63	CIG
AES	0.81	0.85	0.84		0.37	0.6	0.87	0.85	0.61	AES
UGI	0.3	0.37	0.34	0.37		0.49	0.2	0.33	0.06	UGI
BKH	0.7	0.64	0.63	0.6	0.49		0.63	0.75	0.6	BKH
BEP	0.85	0.79	0.8	0.87	0.2	0.63		0.85	0.78	BEP
IDA	0.82	0.8	0.8	0.85	0.33	0.75	0.85		0.82	IDA
OGE	0.69	0.53	0.63	0.61	0.06	0.6	0.78	0.82		OGE
	ELPC	CIG-C	CIG	AES	UGI	BKH	BEP	IDA	OGE

Risk-Adjusted Indicators

There is a big difference between CMS Preferred Stock performing well and CMS 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 CMS 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
ELPC	2.20	0.20	0.06	0.38	2.88	(2.21)	4.60	(4.17)	13.43
CIG-C	1.58	0.09	0.03	0.32	1.97	(1.92)	3.87	(3.15)	11.00
CIG	1.60	0.09	0.02	0.47	2.00	(1.66)	3.00	(3.05)	8.20
AES	1.40	0.25	0.16	0.35	1.30	(1.54)	3.11	(2.11)	11.35
UGI	0.99	0.13	0.06	0.30	1.43	(1.07)	2.42	(1.39)	13.41
BKH	0.94	0.09	0.03	(0.49)	1.15	(0.93)	1.91	(1.99)	6.53
BEP	1.11	0.12	0.07	0.33	1.14	(1.37)	3.22	(2.20)	7.16
IDA	0.83	0.10	0.05	0.92	0.95	(0.85)	2.03	(1.51)	4.65
OGE	0.72	0.07	0.02	(7.84)	0.81	(0.77)	1.44	(1.37)	3.45

Be your own money manager

Our tools can tell you how much better you can do entering a position in CMS 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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