DTE Energy Correlations

DTW Stock

USD 22.93 0.26 1.12%

The current 90-days correlation between DTE Energy and Duke Energy Corp is 0.64 (i.e., Poor diversification). The correlation of DTE 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.

DTE Energy Correlation With Market

Modest diversification

The correlation between DTE Energy Co and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DTE Energy Co 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 DTE Energy Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy DTE Stock please use our How to Invest in DTE Energy guide.

Moving together with DTE Stock

0.91	DUKB	Duke Energy Corp	Pair Corr
0.94	SOJD	Southern	Pair Corr
0.63	D	Dominion Energy	Pair Corr
0.78	ED	Consolidated Edison	Pair Corr
0.69	ES	Eversource Energy	Pair Corr
0.73	FE	FirstEnergy Earnings Call Next Week	Pair Corr
0.76	SO	Southern	Pair Corr
0.74	CMS-PB	Consumers Energy Earnings Call Tomorrow	Pair Corr
0.68	CMS-PC	CMS Energy Earnings Call Tomorrow	Pair Corr
0.78	ELPC	Companhia Paranaense	Pair Corr
0.61	WTRG	Essential Utilities	Pair Corr
0.74	AQN	Algonquin Power Utilities	Pair Corr
0.71	AWK	American Water Works	Pair Corr
0.63	AWR	American States Water	Pair Corr
0.73	BIP	Brookfield Infrastructure Earnings Call Tomorrow	Pair Corr

Moving against DTE Stock

0.76	VVPR	VivoPower International	Pair Corr
0.61	ELLO	Ellomay Capital	Pair Corr
0.6	ENLT	Enlight Renewable Energy	Pair Corr
0.56	ENIC	Enel Chile SA	Pair Corr
0.49	CDZIP	Cadiz Depositary Shares	Pair Corr
0.34	AQNB	Algonquin Power Utilities	Pair Corr
0.59	KEN	Kenon Holdings	Pair Corr
0.47	EDN	Empresa Distribuidora	Pair Corr
0.43	CNP	CenterPoint Energy Sell-off Trend	Pair Corr
0.36	ALE	Allete Inc	Pair Corr

Related Correlations Analysis

	SOJC	DUKB	GPJA	EAI	CMSC
SOJC		0.86	0.82	0.73	0.89	SOJC
DUKB	0.86		0.87	0.76	0.9	DUKB
GPJA	0.82	0.87		0.79	0.72	GPJA
EAI	0.73	0.76	0.79		0.73	EAI
CMSC	0.89	0.9	0.72	0.73		CMSC
	SOJC	DUKB	GPJA	EAI	CMSC

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Risk-Adjusted Indicators

There is a big difference between DTE Stock performing well and DTE 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 DTE 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
SOJC	0.66	(0.10)	0.00	(0.26)	0.00	0.00	1.37	(1.29)	3.20
DUKB	0.46	(0.04)	0.00	(0.06)	0.00	0.00	1.00	(0.85)	2.55
GPJA	0.77	(0.02)	(0.08)	0.02	0.82	(0.87)	1.78	(1.41)	4.53
EAI	0.74	(0.08)	0.00	(0.13)	0.00	0.00	1.35	(1.40)	5.02
CMSC	0.44	(0.07)	0.00	(0.18)	0.00	0.00	1.27	(0.84)	2.50

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