Dominion Energy Correlations

D Stock

USD 58.14 0.23 0.39%

The current 90-days correlation between Dominion Energy and Entergy is 0.45 (i.e., Very weak diversification). The correlation of Dominion 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.

Dominion Energy Correlation With Market

Significant diversification

The correlation between Dominion Energy and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dominion Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dominion 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 unemployment.

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

Moving together with Dominion Stock

0.88	SO	Southern	Pair Corr
0.74	CMS	CMS Energy	Pair Corr
0.72	DUK	Duke Energy Sell-off Trend	Pair Corr
0.66	EXC	Exelon	Pair Corr
0.61	POR	Portland General Electric	Pair Corr
0.65	WEC	WEC Energy Group Sell-off Trend	Pair Corr

Moving against Dominion Stock

0.32

EBR

Centrais Electricas

Pair Corr

Related Correlations Analysis

	ETR	AEE	LNT	PNW	MGEE	EVRG	DTE
ETR		0.89	0.49	0.59	0.85	0.74	-0.33	ETR
AEE	0.89		0.75	0.63	0.87	0.83	-0.07	AEE
LNT	0.49	0.75		0.47	0.54	0.72	0.42	LNT
PNW	0.59	0.63	0.47		0.8	0.89	-0.33	PNW
MGEE	0.85	0.87	0.54	0.8		0.87	-0.43	MGEE
EVRG	0.74	0.83	0.72	0.89	0.87		-0.15	EVRG
DTE	-0.33	-0.07	0.42	-0.33	-0.43	-0.15		DTE
	ETR	AEE	LNT	PNW	MGEE	EVRG	DTE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	+ 0.89	ETR
EVRG	+ 0.89	PNW
MGEE	+ 0.87	AEE
EVRG	+ 0.87	MGEE
MGEE	+ 0.85	ETR
EVRG	+ 0.83	AEE

High negative correlations

DTE	- 0.43	MGEE
DTE	- 0.33	PNW
DTE	- 0.33	ETR
DTE	- 0.15	EVRG
DTE	- 0.07	AEE

Risk-Adjusted Indicators

There is a big difference between Dominion Stock performing well and Dominion 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 Dominion 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
ETR	0.97	0.42	0.18	(1.38)	1.03	(1.20)	2.07	(1.52)	21.62
AEE	0.84	0.19	0.10	1.25	0.63	(1.02)	1.91	(1.39)	6.03
LNT	0.90	0.14	0.02	8.40	1.03	(1.02)	2.04	(1.89)	5.81
PNW	0.82	0.06	(0.01)	0.26	0.79	(0.89)	1.99	(1.48)	4.99
MGEE	1.07	0.16	0.16	0.26	0.83	(1.24)	2.95	(1.77)	9.44
EVRG	0.69	0.14	0.04	0.96	0.65	(0.74)	1.53	(1.22)	3.30
DTE	0.80	0.01	(0.07)	0.28	1.38	(0.66)	1.44	(2.13)	5.21

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