Excelerate Energy Correlations

EE Stock

USD 37.35 0.62 1.69%

The current 90-days correlation between Excelerate Energy and Renew Energy Global is 0.14 (i.e., Average diversification). The correlation of Excelerate 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.

Excelerate Energy Correlation With Market

Poor diversification

The correlation between Excelerate Energy and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Excelerate Energy and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Excelerate Stock

0.61	P5P	Pembina Pipeline Corp	Pair Corr
0.87	NAT	Nordic American Tankers	Pair Corr
0.82	S5H0	SIEM OFFSHORE NEW	Pair Corr
0.95	0RMV	TechnipFMC PLC	Pair Corr
0.71	PPL	Pembina Pipeline Corp	Pair Corr
0.74	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.82	TSM	Taiwan Semiconductor	Pair Corr
0.88	BKD	Brookdale Senior Living	Pair Corr
0.89	JFWV	Jefferson Security Bank	Pair Corr
0.83	DRDGF	Drdgold	Pair Corr
0.84	BIOA	BioAge Labs	Pair Corr
0.9	NGLOY	Anglo American PLC	Pair Corr
0.68	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.85	HGKGY	Power Assets Holdings	Pair Corr
0.69	GH	Guardant Health	Pair Corr
0.9	PAA	Plains All American Sell-off Trend	Pair Corr
0.8	PRMY	Primary Bank	Pair Corr
0.86	NGKIF	NGK Insulators	Pair Corr
0.87	CSTM	Constellium Nv Potential Growth	Pair Corr
0.73	KKPCF	Kaken Pharmaceutical Earnings Call This Week	Pair Corr
0.72	SPB	Spectrum Brands Holdings	Pair Corr

Moving against Excelerate Stock

0.73	AAPL	Apple Inc Aggressive Push	Pair Corr
0.73	MSFT	Microsoft	Pair Corr
0.35	ENGGF	Enags SA	Pair Corr

Related Correlations Analysis

	RNW	MGEE	AVA	FLNC	CPK	OTTR	AWR	CWT	NWE	CEPU
RNW		0.61	0.11	-0.49	0.72	-0.59	-0.15	0.46	-0.37	-0.55	RNW
MGEE	0.61		0.24	-0.46	0.68	-0.33	0.34	0.8	-0.43	-0.79	MGEE
AVA	0.11	0.24		0.08	0.6	0.49	0.39	0.32	0.6	-0.37	AVA
FLNC	-0.49	-0.46	0.08		-0.55	0.64	0.0	-0.23	0.41	0.45	FLNC
CPK	0.72	0.68	0.6	-0.55		-0.23	0.16	0.54	-0.03	-0.62	CPK
OTTR	-0.59	-0.33	0.49	0.64	-0.23		0.46	-0.17	0.75	0.28	OTTR
AWR	-0.15	0.34	0.39	0.0	0.16	0.46		0.56	0.35	-0.32	AWR
CWT	0.46	0.8	0.32	-0.23	0.54	-0.17	0.56		-0.25	-0.77	CWT
NWE	-0.37	-0.43	0.6	0.41	-0.03	0.75	0.35	-0.25		0.22	NWE
CEPU	-0.55	-0.79	-0.37	0.45	-0.62	0.28	-0.32	-0.77	0.22		CEPU
	RNW	MGEE	AVA	FLNC	CPK	OTTR	AWR	CWT	NWE	CEPU

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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

CWT	+ 0.8	MGEE
NWE	+ 0.75	OTTR
CPK	+ 0.72	RNW
CPK	+ 0.68	MGEE
OTTR	+ 0.64	FLNC
MGEE	+ 0.61	RNW

High negative correlations

CEPU	- 0.79	MGEE
CEPU	- 0.77	CWT
CEPU	- 0.62	CPK
OTTR	- 0.59	RNW
CPK	- 0.55	FLNC
CEPU	- 0.55	RNW

Risk-Adjusted Indicators

There is a big difference between Excelerate Stock performing well and Excelerate 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 Excelerate 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
RNW	1.50	(0.44)	0.00	(1.14)	0.00	0.00	2.78	(3.95)	29.93
MGEE	0.81	(0.12)	0.00	(0.28)	0.00	0.00	1.41	(1.90)	4.52
AVA	0.78	0.09	0.06	0.36	1.03	(0.79)	1.71	(1.74)	5.72
FLNC	4.84	0.83	0.16	0.27	5.28	(5.62)	12.58	(7.83)	31.54
CPK	0.93	(0.03)	0.00	(0.86)	0.00	0.00	1.99	(2.41)	5.00
OTTR	0.97	0.20	0.16	0.45	0.96	(1.14)	2.02	(1.87)	7.91
AWR	0.82	(0.07)	0.00	(0.16)	0.00	0.00	1.53	(1.87)	5.99
CWT	1.15	(0.16)	0.00	(0.40)	0.00	0.00	2.22	(2.85)	7.55
NWE	1.01	0.14	0.08	0.53	1.26	(1.04)	1.78	(2.21)	6.73
CEPU	2.33	0.35	0.14	0.40	2.23	(2.86)	6.93	(4.23)	14.79

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