Edison International Correlations

EIX Stock

USD 58.70 0.26 0.44%

The current 90-days correlation between Edison International and Southern Company is 0.23 (i.e., Modest 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

Average diversification

The correlation between Edison International and DJI is 0.12 (i.e., Average 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.

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

0.61	GNE	Genie Energy	Pair Corr
0.85	PCG	PGE Corp Aggressive Push	Pair Corr

Moving against Edison Stock

0.81	AEP	American Electric Power	Pair Corr
0.8	EXC	Exelon	Pair Corr
0.66	DUK	Duke Energy Sell-off Trend	Pair Corr
0.6	D	Dominion Energy	Pair Corr
0.59	CNP	CenterPoint Energy	Pair Corr
0.58	ED	Consolidated Edison	Pair Corr
0.57	SO	Southern	Pair Corr
0.56	NWE	NorthWestern	Pair Corr
0.54	ETR	Entergy	Pair Corr
0.47	EVRG	Evergy,	Pair Corr
0.47	AEE	Ameren Corp	Pair Corr
0.43	KEP	Korea Electric Power	Pair Corr
0.37	OGE	OGE Energy	Pair Corr
0.34	ENIC	Enel Chile SA	Pair Corr
0.65	OKLO	Oklo Inc Symbol Change	Pair Corr
0.58	ETI-P	Entergy Texas	Pair Corr
0.56	PNW	Pinnacle West Capital	Pair Corr
0.34	TLN	Talen Energy	Pair Corr
0.34	NEE-PN	Nextera Energy	Pair Corr
0.31	PPL	PPL Corporation	Pair Corr

Related Correlations Analysis

	SO	AEP	DUK	D	ED	NEE	CNP	FE	PNW	PEG
SO		0.92	0.94	0.74	0.96	0.42	0.93	0.28	0.94	-0.59	SO
AEP	0.92		0.93	0.79	0.9	0.17	0.89	0.37	0.91	-0.47	AEP
DUK	0.94	0.93		0.72	0.96	0.33	0.89	0.29	0.94	-0.57	DUK
D	0.74	0.79	0.72		0.66	0.19	0.66	0.54	0.73	-0.31	D
ED	0.96	0.9	0.96	0.66		0.4	0.92	0.21	0.94	-0.63	ED
NEE	0.42	0.17	0.33	0.19	0.4		0.36	-0.01	0.3	-0.35	NEE
CNP	0.93	0.89	0.89	0.66	0.92	0.36		0.28	0.9	-0.44	CNP
FE	0.28	0.37	0.29	0.54	0.21	-0.01	0.28		0.39	0.08	FE
PNW	0.94	0.91	0.94	0.73	0.94	0.3	0.9	0.39		-0.54	PNW
PEG	-0.59	-0.47	-0.57	-0.31	-0.63	-0.35	-0.44	0.08	-0.54		PEG
	SO	AEP	DUK	D	ED	NEE	CNP	FE	PNW	PEG

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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

ED	+ 0.96	SO
ED	+ 0.96	DUK
DUK	+ 0.94	SO
PNW	+ 0.94	SO
PNW	+ 0.94	DUK
PNW	+ 0.94	ED

High negative correlations

PEG	- 0.63	ED
PEG	- 0.59	SO
PEG	- 0.57	DUK
PEG	- 0.54	PNW
PEG	- 0.47	AEP
PEG	- 0.44	CNP

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
SO	1.04	0.13	0.14	0.60	1.36	(0.99)	2.38	(2.14)	7.03
AEP	0.98	0.19	0.20	1.61	1.11	(0.99)	1.98	(1.95)	7.23
DUK	0.90	0.15	0.21	0.76	0.96	(0.94)	1.65	(1.90)	4.59
D	1.10	0.04	0.05	0.05	2.06	(0.91)	2.39	(2.58)	8.67
ED	1.10	0.23	0.25	1.13	1.04	(1.28)	2.61	(2.05)	7.44
NEE	1.43	0.07	0.08	0.14	1.75	(1.56)	4.03	(3.33)	9.68
CNP	0.87	0.24	0.28	0.46	0.75	(0.96)	2.51	(1.74)	5.48
FE	1.16	0.06	0.06	1.28	2.34	(1.07)	2.22	(2.40)	14.76
PNW	0.90	0.11	0.13	0.13	1.15	(0.90)	1.85	(2.21)	4.93
PEG	0.92	0.03	0.05	(0.02)	1.65	(1.01)	2.55	(2.69)	9.34

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