Excelerate Energy Correlations

EE Stock

USD 42.44 0.06 0.14%

The current 90-days correlation between Excelerate Energy and MGE Energy is 0.03 (i.e., Significant 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 0.7 (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.

Build AI portfolio with Excelerate Stock

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 housing.

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

Moving together with Excelerate Stock

0.9	AM	Antero Midstream Partners	Pair Corr
0.98	ET	Energy Transfer LP Sell-off Trend	Pair Corr
0.83	TK	Teekay	Pair Corr
0.87	SRR	Source Rock Royalties	Pair Corr
0.88	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.7	ENB	Enbridge	Pair Corr
0.93	G2O	Golar LNG Limited Earnings Call Today	Pair Corr
0.86	KEY	Keyera Corp	Pair Corr
0.71	EN3	Enbridge	Pair Corr
0.77	TPZ	Topaz Energy Corp	Pair Corr
0.9	P5P	Pembina Pipeline Corp Earnings Call Tomorrow	Pair Corr
0.68	CHQ1	Cheniere Energy Earnings Call Tomorrow	Pair Corr
0.84	TK41	Tsakos Energy Navigation	Pair Corr
0.86	K2Y	Keyera Corp	Pair Corr
0.77	ASC	Ardmore Shpng	Pair Corr
0.96	CQP	Cheniere Energy Partners	Pair Corr
0.92	OCW	Euronav NV Earnings Call Tomorrow	Pair Corr
0.88	DHT	DHT Holdings	Pair Corr
0.97	DKL	Delek Logistics Partners Earnings Call This Week	Pair Corr
0.91	DTM	DT Midstream	Pair Corr
0.79	ENB	Enbridge	Pair Corr
0.92	EPD	Enterprise Products	Pair Corr
0.95	ETP	Energy Transfer Partners	Pair Corr
0.92	FRO	Frontline Earnings Call This Week	Pair Corr
0.95	GEL	Genesis Energy LP	Pair Corr
0.91	GLP	Global Partners LP Earnings Call This Week	Pair Corr
0.97	KMI	Kinder Morgan Sell-off Trend	Pair Corr
0.97	KYN	Kayne Anderson MLP	Pair Corr
0.81	LNG	Cheniere Energy	Pair Corr
0.96	LPG	Dorian LPG	Pair Corr
0.96	NAT	Nordic American Tankers	Pair Corr
0.9	NGL	NGL Energy Partners	Pair Corr
0.94	OKE	ONEOK Inc Downward Rally	Pair Corr
0.97	PAA	Plains All American	Pair Corr
0.93	PBA	Pembina Pipeline Corp	Pair Corr

Related Correlations Analysis

	RNW	MGEE	AVA	FLNC	CPK	OTTR	AWR	CWT	NWE	CEPU
RNW		0.18	-0.18	-0.22	0.48	-0.64	-0.1	0.0	-0.27	-0.23	RNW
MGEE	0.18		0.62	-0.46	0.72	0.17	0.17	0.62	0.49	-0.66	MGEE
AVA	-0.18	0.62		-0.12	0.59	0.57	-0.09	0.74	0.84	-0.55	AVA
FLNC	-0.22	-0.46	-0.12		-0.55	0.47	0.1	-0.24	0.12	0.36	FLNC
CPK	0.48	0.72	0.59	-0.55		-0.16	-0.01	0.67	0.28	-0.55	CPK
OTTR	-0.64	0.17	0.57	0.47	-0.16		0.16	0.37	0.73	-0.09	OTTR
AWR	-0.1	0.17	-0.09	0.1	-0.01	0.16		0.43	0.06	-0.03	AWR
CWT	0.0	0.62	0.74	-0.24	0.67	0.37	0.43		0.63	-0.53	CWT
NWE	-0.27	0.49	0.84	0.12	0.28	0.73	0.06	0.63		-0.41	NWE
CEPU	-0.23	-0.66	-0.55	0.36	-0.55	-0.09	-0.03	-0.53	-0.41		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

NWE	+ 0.84	AVA
CWT	+ 0.74	AVA
NWE	+ 0.73	OTTR
CPK	+ 0.72	MGEE
CWT	+ 0.67	CPK
NWE	+ 0.63	CWT

High negative correlations

CEPU	- 0.66	MGEE
OTTR	- 0.64	RNW
CEPU	- 0.55	CPK
CPK	- 0.55	FLNC
CEPU	- 0.55	AVA
CEPU	- 0.53	CWT

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	1.60	(0.44)	0.00	(0.74)	0.00	0.00	2.80	(3.95)	28.35
MGEE	0.89	0.01	(0.06)	(0.98)	1.25	(0.84)	1.64	(1.90)	5.09
AVA	0.79	0.09	(0.01)	(0.62)	1.16	(0.74)	1.63	(1.83)	4.20
FLNC	4.72	(0.11)	0.02	0.06	7.77	(5.11)	12.58	(10.05)	52.21
CPK	0.96	0.00	(0.06)	0.10	1.29	(0.93)	2.05	(2.41)	6.03
OTTR	0.96	0.06	(0.01)	0.31	1.08	(1.08)	1.87	(1.91)	5.83
AWR	0.84	(0.01)	(0.09)	0.00	1.01	(0.87)	2.36	(1.89)	4.71
CWT	1.03	0.05	(0.04)	(0.45)	1.20	(1.14)	2.44	(2.16)	5.52
NWE	0.93	0.10	0.00	(0.80)	1.16	(0.93)	1.75	(1.80)	5.72
CEPU	2.23	0.08	0.03	0.17	2.49	(2.49)	5.09	(4.23)	13.77

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