Dominion Energy Correlations

D Stock

USD 60.17 0.66 1.08%

The current 90-days correlation between Dominion Energy and Xcel Energy is 0.06 (i.e., Significant 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

Good diversification

The correlation between Dominion Energy and DJI is -0.2 (i.e., Good 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.

Build AI portfolio with Dominion Stock

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 various price indices.

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

Moving together with Dominion Stock

0.74	NI	NiSource	Pair Corr
0.77	AEE	Ameren Corp	Pair Corr
0.79	AVA	Avista	Pair Corr
0.64	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.67	KO	Coca Cola	Pair Corr

Moving against Dominion Stock

0.37

SPRY

ARS Pharmaceuticals

Pair Corr

Related Correlations Analysis

	XEL	EXC	ETR	NEE-PN	PEG	SRE	AEP	WEC	ED	PCG
XEL		0.91	0.67	-0.24	0.61	0.77	0.83	0.87	-0.07	0.45	XEL
EXC	0.91		0.66	-0.13	0.7	0.65	0.82	0.91	0.15	0.44	EXC
ETR	0.67	0.66		0.23	0.54	0.34	0.73	0.76	0.24	0.13	ETR
NEE-PN	-0.24	-0.13	0.23		-0.05	-0.38	-0.08	0.01	0.35	-0.45	NEE-PN
PEG	0.61	0.7	0.54	-0.05		0.5	0.54	0.68	0.07	0.55	PEG
SRE	0.77	0.65	0.34	-0.38	0.5		0.55	0.54	-0.31	0.62	SRE
AEP	0.83	0.82	0.73	-0.08	0.54	0.55		0.8	0.22	0.3	AEP
WEC	0.87	0.91	0.76	0.01	0.68	0.54	0.8		0.31	0.39	WEC
ED	-0.07	0.15	0.24	0.35	0.07	-0.31	0.22	0.31		-0.16	ED
PCG	0.45	0.44	0.13	-0.45	0.55	0.62	0.3	0.39	-0.16		PCG
	XEL	EXC	ETR	NEE-PN	PEG	SRE	AEP	WEC	ED	PCG

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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

EXC	+ 0.91	XEL
WEC	+ 0.91	EXC
WEC	+ 0.87	XEL
AEP	+ 0.83	XEL
AEP	+ 0.82	EXC
WEC	+ 0.8	AEP

High negative correlations

PCG	- 0.45	NEE-PN
SRE	- 0.38	NEE-PN
ED	- 0.31	SRE
NEE-PN	- 0.24	XEL
PCG	- 0.16	ED
NEE-PN	- 0.13	EXC

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
XEL	0.77	(0.10)	0.00	1.43	0.00	0.00	1.20	(1.64)	3.97
EXC	0.83	(0.03)	0.00	0.22	0.00	0.00	1.26	(1.51)	4.76
ETR	0.86	(0.03)	0.00	(0.03)	0.00	0.00	1.70	(2.15)	4.90
NEE-PN	0.28	0.02	(0.04)	(0.50)	0.30	(0.32)	0.63	(0.58)	1.87
PEG	0.77	0.03	(0.01)	(0.25)	0.97	(0.80)	1.61	(1.52)	5.52
SRE	0.88	(0.09)	0.00	(5.82)	0.00	0.00	1.52	(2.76)	6.43
AEP	0.81	0.05	0.02	0.47	0.91	(0.89)	1.73	(1.51)	8.71
WEC	0.58	0.01	(0.03)	(0.03)	0.79	(0.58)	1.05	(1.14)	4.32
ED	0.88	0.11	0.06	(0.31)	1.03	(0.89)	1.58	(1.66)	4.62
PCG	1.08	(0.05)	0.00	(0.39)	0.00	0.00	1.79	(2.31)	6.66

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