CMS Energy Correlations

CMSD Stock

USD 23.84 0.38 1.57%

The current 90-days correlation between CMS Energy Corp and CMS Energy Corp is 0.88 (i.e., Very poor 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

Weak diversification

The correlation between CMS Energy Corp and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMS 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 CMS 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 state.

For information on how to trade CMS Stock refer to our How to Trade CMS Stock guide.

Moving together with CMS Stock

0.97	CMSC	CMS Energy Corp	Pair Corr
0.92	CMSA	CMS Energy Corp	Pair Corr
0.76	D	Dominion Energy	Pair Corr
0.83	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.76	ES	Eversource Energy	Pair Corr
0.79	FE	FirstEnergy Earnings Call This Week	Pair Corr
0.68	HE	Hawaiian Electric	Pair Corr
0.79	SO	Southern	Pair Corr
0.93	DUKB	Duke Energy Corp	Pair Corr
0.76	CMS-PB	Consumers Energy	Pair Corr
0.8	CMS-PC	CMS Energy	Pair Corr
0.74	ELPC	Companhia Paranaense	Pair Corr
0.72	WTRG	Essential Utilities	Pair Corr
0.79	AQN	Algonquin Power Utilities	Pair Corr
0.83	AWK	American Water Works	Pair Corr
0.74	AWR	American States Water	Pair Corr
0.66	BEP	Brookfield Renewable Buyout Trend	Pair Corr
0.86	BIP	Brookfield Infrastructure	Pair Corr
0.63	BKH	Black Hills Earnings Call This Week	Pair Corr
0.81	CIG	Companhia Energetica	Pair Corr
0.61	CMS	CMS Energy	Pair Corr

Moving against CMS Stock

0.63	ELLO	Ellomay Capital	Pair Corr
0.63	ENLT	Enlight Renewable Energy	Pair Corr
0.61	CDZIP	Cadiz Depositary Shares	Pair Corr
0.61	ENIC	Enel Chile SA	Pair Corr
0.47	ALE	Allete Inc	Pair Corr
0.72	KEN	Kenon Holdings	Pair Corr
0.46	CNP	CenterPoint Energy	Pair Corr
0.44	GEV	GE Vernova LLC	Pair Corr
0.39	EDN	Empresa Distribuidora	Pair Corr
0.36	ETR	Entergy Sell-off Trend	Pair Corr

Related Correlations Analysis

	CMSC	CMSA	DUKB	AFGB	DTW
CMSC		0.97	0.89	0.96	0.84	CMSC
CMSA	0.97		0.82	0.98	0.8	CMSA
DUKB	0.89	0.82		0.82	0.88	DUKB
AFGB	0.96	0.98	0.82		0.81	AFGB
DTW	0.84	0.8	0.88	0.81		DTW
	CMSC	CMSA	DUKB	AFGB	DTW

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between CMS 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CMSC	0.43	(0.06)	(0.19)	1.27	(0.84)	2.59
CMSA	0.60	(0.13)	(0.36)	1.71	(1.30)	3.77
DUKB	0.45	(0.03)	(0.05)	1.00	(0.85)	2.55
AFGB	0.65	(0.14)	(0.36)	1.40	(1.36)	3.78
DTW	0.78	(0.08)	(0.26)	2.09	(1.21)	4.09

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