Electric Power Correlations

EDRWY Stock

USD 18.60 0.00 0.00%

The correlation of Electric Power 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.

Electric Power Correlation With Market

Good diversification

The correlation between Electric Power Development and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electric Power Development and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Electric Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electric Power when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Electric Power - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Electric Power Development to buy it.

Moving together with Electric Pink Sheet

0.81

MSFT

Microsoft Earnings Call This Week

Pair Corr

Moving against Electric Pink Sheet

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0.86	FOSL	Fossil Group	Pair Corr
0.76	BNPQY	BNP Paribas SA	Pair Corr
0.76	PILBF	Pilbara Minerals	Pair Corr
0.73	EDVMF	Endeavour Mining Corp	Pair Corr
0.73	FSBW	FS Bancorp	Pair Corr
0.72	GVA	Granite Construction	Pair Corr
0.71	SMEGF	Siemens Energy AG	Pair Corr
0.69	WEGZY	WEG SA ADR	Pair Corr
0.69	RIOFF	Rio2 Limited	Pair Corr
0.66	NXTC	NextCure	Pair Corr
0.49	AXP	American Express	Pair Corr
0.31	TEX	Terex	Pair Corr
0.95	PITAF	Poste Italiane SpA	Pair Corr
0.83	BIIB	Biogen Inc Earnings Call This Week	Pair Corr
0.78	MH	McGraw Hill	Pair Corr
0.76	VLY	Valley National Bancorp	Pair Corr
0.72	DTSQU	DT Cloud Star	Pair Corr
0.71	MATX	Matson Inc	Pair Corr

Related Correlations Analysis

	TEPCY	DRXGY	DRXGF	PUPOF	STECF	TEPCF	CGKEF	CSGEF	IRDEY	IRDEF
TEPCY		0.0	0.0	0.0	0.0	-1.0	0.0	0.0	-1.0	0.0	TEPCY
DRXGY	0.0		0.88	0.61	0.79	0.0	0.0	-0.26	0.0	-0.54	DRXGY
DRXGF	0.0	0.88		0.71	0.82	0.0	0.0	-0.25	0.0	-0.46	DRXGF
PUPOF	0.0	0.61	0.71		0.63	0.0	0.0	-0.21	0.0	-0.22	PUPOF
STECF	0.0	0.79	0.82	0.63		0.0	0.0	-0.41	0.0	-0.7	STECF
TEPCF	-1.0	0.0	0.0	0.0	0.0		0.0	0.0	1.0	0.0	TEPCF
CGKEF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CGKEF
CSGEF	0.0	-0.26	-0.25	-0.21	-0.41	0.0	0.0		0.0	0.14	CSGEF
IRDEY	-1.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0		0.0	IRDEY
IRDEF	0.0	-0.54	-0.46	-0.22	-0.7	0.0	0.0	0.14	0.0		IRDEF
	TEPCY	DRXGY	DRXGF	PUPOF	STECF	TEPCF	CGKEF	CSGEF	IRDEY	IRDEF

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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

IRDEY	+ 1.0	TEPCF
DRXGF	+ 0.88	DRXGY
STECF	+ 0.82	DRXGF
STECF	+ 0.79	DRXGY
PUPOF	+ 0.71	DRXGF
STECF	+ 0.63	PUPOF

High negative correlations

IRDEY	- 1.0	TEPCY
TEPCF	- 1.0	TEPCY
IRDEF	- 0.7	STECF
IRDEF	- 0.54	DRXGY
IRDEF	- 0.46	DRXGF
CSGEF	- 0.41	STECF

Risk-Adjusted Indicators

There is a big difference between Electric Pink Sheet performing well and Electric Power 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 Electric Power'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
TEPCY	0.00	0.00	0.00	0.00	0.00	0.00
DRXGY	1.02	0.44	11.05	4.35	0.00	14.74
DRXGF	0.83	0.36	1.02	4.42	0.00	11.35
PUPOF	1.62	0.67	0.54	0.00	0.00	54.28
STECF	1.67	0.94	(0.87)	0.00	0.00	34.04
TEPCF	0.00	0.00	0.00	0.00	0.00	0.00
CGKEF	0.00	0.00	0.00	0.00	0.00	0.00
CSGEF	0.57	0.00	0.07	0.00	0.00	35.00
IRDEY	0.00	0.00	0.00	0.00	0.00	0.00
IRDEF	20.97	11.61	4.26	48.80	(17.81)	66.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in Electric Power without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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