CenterPoint Energy Correlations

CNP Stock

USD 39.31 0.25 0.64%

The current 90-days correlation between CenterPoint Energy and Centrais Eltricas Brasileiras is -0.08 (i.e., Good diversification). The correlation of CenterPoint 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CenterPoint Energy Correlation With Market

Good diversification

The correlation between CenterPoint Energy and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CenterPoint Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CenterPoint Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CenterPoint Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in CenterPoint Stock, please use our How to Invest in CenterPoint Energy guide.

Moving together with CenterPoint Stock

0.94	AEE	Ameren Corp	Pair Corr
0.9	CMS	CMS Energy	Pair Corr
0.83	DTE	DTE Energy	Pair Corr
0.65	CMSA	CMS Energy Corp	Pair Corr

Moving against CenterPoint Stock

0.64	BOF	BranchOut Food Common	Pair Corr
0.6	LION	Lionsgate Studios Holding	Pair Corr
0.57	FYBR	Frontier Communications	Pair Corr
0.45	CNL	Collective Mining	Pair Corr
0.35	KCRD	Kindcard	Pair Corr
0.34	WEICF	Weichai Power	Pair Corr
0.33	CUB	Lionheart Holdings	Pair Corr
0.7	ACN	Accenture plc	Pair Corr
0.63	NMIH	NMI Holdings	Pair Corr
0.62	ATI	Allegheny Technologies	Pair Corr
0.59	MCHP	Microchip Technology	Pair Corr
0.56	WSFS	WSFS Financial	Pair Corr
0.52	F	Ford Motor	Pair Corr
0.5	JACK	Jack In	Pair Corr
0.44	PNGZF	Paringa Resources	Pair Corr
0.41	ACR-PC	ACRES Commercial Realty	Pair Corr
0.36	ASTS	Ast Spacemobile Aggressive Push	Pair Corr

Related Correlations Analysis

	SO	EBR-B	FTS	AWK	ATO	EBR	FE	PPL	AEE	DTE
SO		-0.71	-0.22	0.54	0.78	-0.84	0.71	0.91	0.75	0.91	SO
EBR-B	-0.71		0.16	-0.32	-0.53	0.67	-0.41	-0.71	-0.5	-0.6	EBR-B
FTS	-0.22	0.16		0.15	0.06	0.43	0.22	0.0	0.27	-0.08	FTS
AWK	0.54	-0.32	0.15		0.4	-0.4	0.33	0.48	0.4	0.56	AWK
ATO	0.78	-0.53	0.06	0.4		-0.76	0.84	0.85	0.89	0.89	ATO
EBR	-0.84	0.67	0.43	-0.4	-0.76		-0.49	-0.77	-0.56	-0.8	EBR
FE	0.71	-0.41	0.22	0.33	0.84	-0.49		0.81	0.93	0.8	FE
PPL	0.91	-0.71	0.0	0.48	0.85	-0.77	0.81		0.89	0.91	PPL
AEE	0.75	-0.5	0.27	0.4	0.89	-0.56	0.93	0.89		0.88	AEE
DTE	0.91	-0.6	-0.08	0.56	0.89	-0.8	0.8	0.91	0.88		DTE
	SO	EBR-B	FTS	AWK	ATO	EBR	FE	PPL	AEE	DTE

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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

AEE	+ 0.93	FE
PPL	+ 0.91	SO
DTE	+ 0.91	SO
DTE	+ 0.91	PPL
AEE	+ 0.89	ATO
DTE	+ 0.89	ATO

High negative correlations

EBR	- 0.84	SO
DTE	- 0.8	EBR
PPL	- 0.77	EBR
EBR	- 0.76	ATO
PPL	- 0.71	EBR-B
EBR-B	- 0.71	SO

Risk-Adjusted Indicators

There is a big difference between CenterPoint Stock performing well and CenterPoint 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 CenterPoint 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
SO	0.76	(0.16)	0.00	(0.84)	0.00	0.00	1.54	(1.65)	4.07
EBR-B	2.54	0.39	0.07	0.35	4.47	(2.74)	5.25	(3.48)	31.49
FTS	0.60	0.03	(0.11)	1.92	0.61	(0.70)	1.26	(1.00)	2.88
AWK	1.12	(0.12)	0.00	(2.44)	0.00	0.00	1.95	(2.30)	5.84
ATO	0.70	(0.06)	0.00	(0.22)	0.00	0.00	1.20	(1.61)	4.31
EBR	1.30	0.59	0.30	(2.98)	0.97	(1.52)	3.69	(1.88)	7.18
FE	0.69	(0.01)	(0.09)	(0.17)	1.05	(0.59)	1.20	(1.62)	4.05
PPL	0.78	(0.09)	0.00	(0.24)	0.00	0.00	1.19	(1.73)	4.62
AEE	0.71	(0.02)	(0.10)	0.00	1.02	(0.66)	1.12	(1.45)	5.74
DTE	0.72	(0.10)	0.00	(0.12)	0.00	0.00	1.32	(1.74)	4.73

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