DTE Energy Correlations

DTW Stock

USD 23.03 0.18 0.79%

The current 90-days correlation between DTE Energy and Southern Co is 0.77 (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

Significant diversification

The correlation between DTE Energy Co and DJI is 0.09 (i.e., Significant 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

0.73	DUKB	Duke Energy Corp	Pair Corr
0.86	SOJD	Southern	Pair Corr
0.69	ED	Consolidated Edison	Pair Corr
0.66	CMS-PC	CMS Energy	Pair Corr
0.73	AES	AES Sell-off Trend	Pair Corr
0.61	AQN	Algonquin Power Utilities	Pair Corr

Moving against DTE Stock

0.74	ELLO	Ellomay Capital	Pair Corr
0.64	ADN	Advent Technologies	Pair Corr
0.57	CDZIP	Cadiz Depositary Shares	Pair Corr
0.35	ENIC	Enel Chile SA	Pair Corr
0.6	KEP	Korea Electric Power	Pair Corr
0.55	IDA	IDACORP	Pair Corr
0.43	EDN	Empresa Distribuidora	Pair Corr
0.34	ETR	Entergy	Pair Corr
0.32	KEN	Kenon Holdings	Pair Corr

Related Correlations Analysis

	SOJC	DUKB	GPJA	EAI	CMSC
SOJC		0.63	0.64	0.72	0.75	SOJC
DUKB	0.63		0.45	0.75	0.61	DUKB
GPJA	0.64	0.45		0.7	0.35	GPJA
EAI	0.72	0.75	0.7		0.57	EAI
CMSC	0.75	0.61	0.35	0.57		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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SOJC	0.41	(0.02)	(0.14)	0.87	(1.07)	2.60
DUKB	0.35	(0.03)	(0.52)	0.64	(0.68)	1.63
GPJA	0.57	(0.15)	(0.76)	1.15	(1.48)	3.14
EAI	0.49	(0.05)	(0.40)	0.84	(1.42)	2.60
CMSC	0.29	(0.01)	0.21	0.69	(0.65)	1.43

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