Edison International Correlations

EIX Stock

USD 61.64 0.87 1.43%

The current 90-days correlation between Edison International and CMS Energy is 0.47 (i.e., Very weak diversification). The correlation of Edison International 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.

Edison International Correlation With Market

Poor diversification

The correlation between Edison International and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edison International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Edison Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Edison International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more information on how to buy Edison Stock please use our How to Invest in Edison International guide.

Moving together with Edison Stock

0.72	FTS	Fortis Inc	Pair Corr
0.66	KEP	Korea Electric Power	Pair Corr
0.84	AQNB	Algonquin Power Utilities	Pair Corr
0.8	CNL	Collective Mining	Pair Corr
0.67	DE	Deere Company	Pair Corr
0.74	NBPVF	NB Private Equity	Pair Corr
0.81	WM	Waste Management	Pair Corr
0.64	WING	Wingstop	Pair Corr
0.71	KNCAY	Konica Minolta	Pair Corr
0.64	CMRE	Costamare	Pair Corr
0.67	RAIL	Freightcar America	Pair Corr
0.74	BZQIF	Bezeq The Israel	Pair Corr

Moving against Edison Stock

0.82	POM	POMDOCTOR LIMITED	Pair Corr
0.77	VGAS	Verde Clean Fuels	Pair Corr
0.43	SO	Southern	Pair Corr
0.41	002893	Beijing HuaYuanYiTong	Pair Corr
0.83	ORGN	Origin Materials	Pair Corr

Related Correlations Analysis

	CMS	EBR	EBR-B	KEP	EVRG	FTS	LNT
CMS		-0.41	-0.48	-0.24	0.83	0.11	0.93	CMS
EBR	-0.41		0.97	0.5	-0.36	0.41	-0.32	EBR
EBR-B	-0.48	0.97		0.49	-0.41	0.39	-0.39	EBR-B
KEP	-0.24	0.5	0.49		0.0	0.6	-0.02	KEP
EVRG	0.83	-0.36	-0.41	0.0		0.04	0.92	EVRG
FTS	0.11	0.41	0.39	0.6	0.04		0.23	FTS
LNT	0.93	-0.32	-0.39	-0.02	0.92	0.23		LNT
	CMS	EBR	EBR-B	KEP	EVRG	FTS	LNT

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

EBR-B	+ 0.97	EBR
LNT	+ 0.93	CMS
LNT	+ 0.92	EVRG
EVRG	+ 0.83	CMS
FTS	+ 0.6	KEP
KEP	+ 0.5	EBR

High negative correlations

EBR-B	- 0.48	CMS
EVRG	- 0.41	EBR-B
EBR	- 0.41	CMS
LNT	- 0.39	EBR-B
EVRG	- 0.36	EBR
LNT	- 0.32	EBR

Risk-Adjusted Indicators

There is a big difference between Edison Stock performing well and Edison International 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 Edison International'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
CMS	0.76	(0.08)	0.00	(0.21)	0.00	0.00	1.27	(1.56)	5.00
EBR	2.20	0.48	0.08	1.29	4.49	(2.35)	2.80	(3.23)	32.39
EBR-B	2.54	0.50	0.07	0.88	4.47	(2.74)	5.25	(3.48)	31.49
KEP	2.42	0.53	0.16	(6.39)	2.35	(2.65)	6.12	(4.09)	18.59
EVRG	0.72	(0.04)	0.00	(0.07)	0.00	0.00	1.19	(1.31)	4.29
FTS	0.62	0.04	(0.05)	(0.75)	0.59	(0.75)	1.26	(1.00)	2.88
LNT	0.61	(0.04)	0.00	(0.11)	0.00	0.00	1.19	(1.29)	4.27

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