CenterPoint Energy Correlations

CNP Stock

USD 42.91 0.00 0.00%

The current 90-days correlation between CenterPoint Energy and Centrais Eltricas Brasileiras is 0.02 (i.e., Significant 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

Modest diversification

The correlation between CenterPoint Energy and DJI is 0.29 (i.e., Modest 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 inflation.

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

Moving together with CenterPoint Stock

0.9	D	Dominion Energy	Pair Corr
0.87	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.93	NI	NiSource	Pair Corr
0.86	NG	National Grid PLC	Pair Corr
0.98	AEE	Ameren Corp	Pair Corr
0.69	AQN	Algonquin Power Utilities Earnings Call Today	Pair Corr
0.87	AVA	Avista	Pair Corr
0.85	BIP	Brookfield Infrastructure	Pair Corr
0.72	BKH	Black Hills	Pair Corr
0.9	CMS	CMS Energy	Pair Corr
0.95	DTE	DTE Energy Sell-off Trend	Pair Corr
0.82	NGG	National Grid PLC	Pair Corr
0.72	NWE	NorthWestern	Pair Corr
0.87	PEG	Public Service Enterprise Earnings Call This Week	Pair Corr
0.84	UTL	UNITIL	Pair Corr
0.94	WEC	WEC Energy Group	Pair Corr
0.85	VIE	Veolia Environnement Earnings Call Today	Pair Corr
0.68	CNA	Centrica PLC	Pair Corr
0.61	AGL	AGL Energy	Pair Corr
0.63	SOJE	Southern Company	Pair Corr
0.72	SOJC	Southern	Pair Corr
0.77	CMSA	CMS Energy Corp	Pair Corr
0.76	DTW	DTE Energy	Pair Corr
0.7	RBGPF	Reckitt Benckiser Earnings Call This Week	Pair Corr
0.7	MBINN	Merchants Bancorp	Pair Corr
0.68	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.86	SOMMY	Sumitomo Chemical	Pair Corr
0.84	AIQUF	LAir Liquide SA	Pair Corr

Moving against CenterPoint Stock

0.92	BKNG	Booking Holdings	Pair Corr
0.46	VLCN	Volcon Inc Symbol Change	Pair Corr

Related Correlations Analysis

	SO	EBR-B	FTS	AWK	ATO	EBR	FE	PPL	AEE	DTE
SO		0.29	0.92	0.06	0.88	0.25	0.95	0.85	0.93	0.94	SO
EBR-B	0.29		0.36	0.32	-0.03	0.97	0.3	0.45	0.28	0.33	EBR-B
FTS	0.92	0.36		0.01	0.78	0.32	0.91	0.8	0.9	0.92	FTS
AWK	0.06	0.32	0.01		0.14	0.36	0.07	0.2	0.1	0.08	AWK
ATO	0.88	-0.03	0.78	0.14		-0.06	0.82	0.64	0.81	0.83	ATO
EBR	0.25	0.97	0.32	0.36	-0.06		0.25	0.42	0.23	0.28	EBR
FE	0.95	0.3	0.91	0.07	0.82	0.25		0.91	0.96	0.98	FE
PPL	0.85	0.45	0.8	0.2	0.64	0.42	0.91		0.88	0.88	PPL
AEE	0.93	0.28	0.9	0.1	0.81	0.23	0.96	0.88		0.95	AEE
DTE	0.94	0.33	0.92	0.08	0.83	0.28	0.98	0.88	0.95		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

DTE	+ 0.98	FE
EBR	+ 0.97	EBR-B
AEE	+ 0.96	FE
FE	+ 0.95	SO
DTE	+ 0.95	AEE
DTE	+ 0.94	SO

High negative correlations

EBR	- 0.06	ATO
ATO	- 0.03	EBR-B

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	0.86	0.14	0.02	(0.51)	0.97	(0.89)	1.87	(1.84)	5.19
EBR-B	2.54	0.69	0.07	(0.37)	4.47	(2.74)	5.25	(3.48)	31.49
FTS	0.70	0.20	0.08	(0.34)	0.56	(0.87)	1.40	(1.17)	4.38
AWK	1.09	0.05	(0.03)	1.21	1.21	(1.16)	2.74	(2.08)	6.27
ATO	0.68	0.07	(0.01)	0.62	1.13	(0.61)	1.42	(1.76)	4.03
EBR	2.20	0.64	0.07	(0.37)	4.49	(2.35)	2.80	(3.23)	32.39
FE	0.74	0.17	0.05	(0.76)	0.78	(0.79)	1.79	(1.31)	4.08
PPL	0.92	0.12	0.02	2.05	1.09	(0.95)	1.69	(1.61)	5.33
AEE	0.77	0.10	0.00	(1.18)	0.99	(0.75)	1.49	(1.53)	5.15
DTE	0.71	0.13	0.02	(1.80)	0.90	(0.70)	1.69	(1.43)	4.29

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