Connecticut Light Correlations

CNTHP Stock

USD 53.85 1.39 2.65%

The current 90-days correlation between Connecticut Light and National Grid PLC is -0.09 (i.e., Good diversification). The correlation of Connecticut Light 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.

Connecticut Light Correlation With Market

Good diversification

The correlation between The Connecticut Light and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Connecticut Light and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Connecticut Light could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Connecticut Light 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 Connecticut Light - 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 The Connecticut Light to buy it.

Moving against Connecticut Pink Sheet

0.4

Procter Gamble Sell-off Trend

Pair Corr

Related Correlations Analysis

	SO	DUK	DUK-PA	NGG	PCG	AEP	D	NGGTF	PEG
SO		0.79	0.15	0.27	0.17	0.34	0.85	0.24	0.54	SO
DUK	0.79		0.33	0.44	0.16	0.63	0.72	0.32	0.21	DUK
DUK-PA	0.15	0.33		0.33	0.08	0.35	0.19	0.38	0.03	DUK-PA
NGG	0.27	0.44	0.33		-0.64	0.85	-0.01	0.79	-0.27	NGG
PCG	0.17	0.16	0.08	-0.64		-0.4	0.43	-0.49	0.49	PCG
AEP	0.34	0.63	0.35	0.85	-0.4		0.19	0.62	-0.25	AEP
D	0.85	0.72	0.19	-0.01	0.43	0.19		0.01	0.54	D
NGGTF	0.24	0.32	0.38	0.79	-0.49	0.62	0.01		-0.17	NGGTF
PEG	0.54	0.21	0.03	-0.27	0.49	-0.25	0.54	-0.17		PEG
	SO	DUK	DUK-PA	NGG	PCG	AEP	D	NGGTF	PEG

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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

D	+ 0.85	SO
AEP	+ 0.85	NGG
DUK	+ 0.79	SO
NGGTF	+ 0.79	NGG
D	+ 0.72	DUK
AEP	+ 0.63	DUK

High negative correlations

PCG	- 0.64	NGG
NGGTF	- 0.49	PCG
AEP	- 0.4	PCG
PEG	- 0.27	NGG
PEG	- 0.25	AEP
PEG	- 0.17	NGGTF

Risk-Adjusted Indicators

There is a big difference between Connecticut Pink Sheet performing well and Connecticut Light 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 Connecticut Light'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	0.80	0.09	(0.04)	(0.92)	0.91	(0.84)	1.73	(1.57)	5.63
DUK	0.86	0.07	(0.03)	0.99	1.09	(0.91)	1.77	(2.24)	4.97
DUK-PA	0.32	(0.01)	(0.31)	(0.06)	0.35	(0.37)	0.68	(0.64)	1.45
NGG	0.84	(0.07)	0.00	(0.39)	0.00	0.00	1.58	(1.93)	4.41
PCG	0.81	0.17	0.07	0.76	0.88	(0.87)	2.45	(1.76)	6.12
AEP	0.87	0.06	(0.06)	(0.13)	1.21	(0.87)	1.58	(1.73)	6.17
D	0.95	0.11	0.00	3.29	1.11	(1.02)	1.85	(1.96)	7.70
NGGTF	2.87	(0.10)	(0.03)	0.01	3.57	(2.80)	6.15	(5.56)	15.41
PEG	1.04	0.20	0.08	0.58	1.45	(1.10)	2.31	(2.23)	10.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Connecticut Light 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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Connecticut Light Corporate Management

Florence Iacono	Sec	Profile
Stephen Sullivan	Pres COO	Profile
Robert Hybsch	VP Operations	Profile
John Moreira	Sr Treasurer	Profile
Philip Lembo	CFO VP	Profile

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