Duke Energy Correlations

DUK Stock

USD 121.67 2.18 1.82%

The current 90-days correlation between Duke Energy and Southern Company is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Duke Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Duke Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Duke Energy Correlation With Market

Excellent diversification

The correlation between Duke Energy and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Duke Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Duke Stock

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

For more information on how to buy Duke Stock please use our How to buy in Duke Stock guide.

Moving together with Duke Stock

0.79	EVRG	Evergy	Pair Corr
0.85	LNT	Alliant Energy Corp	Pair Corr
0.63	POM	POMDOCTOR LIMITED	Pair Corr
0.62	CMSA	CMS Energy Corp	Pair Corr

Moving against Duke Stock

0.62	TXNM	TXNM Energy	Pair Corr
0.58	EBR-B	Centrais Eltricas	Pair Corr
0.44	AQNB	Algonquin Power Utilities	Pair Corr
0.4	CUP-U	Caribbean Utilities	Pair Corr
0.6	PPERY	Bank Mandiri Persero Earnings Call Tomorrow	Pair Corr
0.53	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.4	CNL	Collective Mining	Pair Corr
0.37	CUD	Canadian Utilities	Pair Corr
0.32	TLK	Telkom Indonesia Tbk	Pair Corr
0.81	CRH	CRH PLC ADR	Pair Corr
0.68	BNKHF	BOC Hong Kong	Pair Corr
0.59	GGLDF	Getchell Gold Corp	Pair Corr
0.57	MAT	Mattel Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SO	NGG	AEP	D	EXC	XEL	ETR	PEG	WEC	DTE
SO		-0.09	0.8	0.36	0.85	0.84	0.71	0.53	0.88	0.76	SO
NGG	-0.09		-0.06	0.28	-0.3	-0.38	0.22	-0.04	0.07	0.19	NGG
AEP	0.8	-0.06		0.66	0.88	0.87	0.78	0.66	0.91	0.87	AEP
D	0.36	0.28	0.66		0.52	0.4	0.63	0.6	0.61	0.67	D
EXC	0.85	-0.3	0.88	0.52		0.91	0.64	0.63	0.88	0.75	EXC
XEL	0.84	-0.38	0.87	0.4	0.91		0.69	0.57	0.84	0.72	XEL
ETR	0.71	0.22	0.78	0.63	0.64	0.69		0.58	0.8	0.81	ETR
PEG	0.53	-0.04	0.66	0.6	0.63	0.57	0.58		0.62	0.52	PEG
WEC	0.88	0.07	0.91	0.61	0.88	0.84	0.8	0.62		0.9	WEC
DTE	0.76	0.19	0.87	0.67	0.75	0.72	0.81	0.52	0.9		DTE
	SO	NGG	AEP	D	EXC	XEL	ETR	PEG	WEC	DTE

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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

WEC	+ 0.91	AEP
XEL	+ 0.91	EXC
DTE	+ 0.9	WEC
WEC	+ 0.88	SO
EXC	+ 0.88	AEP
WEC	+ 0.88	EXC

High negative correlations

XEL	- 0.38	NGG
EXC	- 0.3	NGG
NGG	- 0.09	SO
AEP	- 0.06	NGG
PEG	- 0.04	NGG

Risk-Adjusted Indicators

There is a big difference between Duke Stock performing well and Duke 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 Duke 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
SO	0.77	(0.05)	0.00	(0.61)	0.00	0.00	1.54	(1.81)	4.07
NGG	0.81	0.21	0.19	1.22	0.68	(0.94)	1.91	(1.10)	4.11
AEP	0.74	(0.02)	0.00	(0.12)	0.00	0.00	1.73	(1.51)	4.63
D	0.94	0.08	0.02	(2.77)	1.21	(0.97)	1.77	(2.04)	5.71
EXC	0.85	(0.10)	0.00	13.55	0.00	0.00	1.26	(1.94)	4.76
XEL	0.83	(0.07)	0.00	(1.03)	0.00	0.00	1.62	(1.88)	5.29
ETR	0.85	0.02	(0.01)	0.08	1.09	(0.87)	1.90	(1.73)	4.90
PEG	0.81	0.03	(0.01)	9.03	1.05	(0.82)	1.61	(2.04)	5.67
WEC	0.64	(0.03)	0.00	(1.57)	0.00	0.00	1.14	(1.24)	4.32
DTE	0.75	(0.04)	0.00	(0.09)	0.00	0.00	1.45	(1.74)	4.73

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