Entergy Louisiana Correlations

ELC Stock

USD 21.35 0.38 1.75%

The current 90-days correlation between Entergy Louisiana LLC and Lion One Metals is 0.05 (i.e., Significant diversification). The correlation of Entergy Louisiana 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.

Entergy Louisiana Correlation With Market

Modest diversification

The correlation between Entergy Louisiana LLC and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy Louisiana LLC 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 Entergy Louisiana LLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Entergy Stock

0.77	DUKB	Duke Energy Corp	Pair Corr
0.77	DTW	DTE Energy	Pair Corr
0.81	SOJD	Southern Potential Growth	Pair Corr
0.7	D	Dominion Energy	Pair Corr
0.73	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.71	ES	Eversource Energy	Pair Corr
0.7	FE	FirstEnergy Earnings Call This Week	Pair Corr
0.67	SO	Southern	Pair Corr
0.76	CMS-PB	Consumers Energy	Pair Corr
0.86	CMS-PC	CMS Energy	Pair Corr
0.63	AES	AES	Pair Corr
0.74	AQN	Algonquin Power Utilities	Pair Corr
0.61	AWK	American Water Works	Pair Corr
0.61	BEP	Brookfield Renewable Buyout Trend	Pair Corr
0.72	BIP	Brookfield Infrastructure	Pair Corr

Moving against Entergy Stock

0.56	ADN	Advent Technologies	Pair Corr
0.54	ELLO	Ellomay Capital	Pair Corr
0.51	VVPR	VivoPower International	Pair Corr
0.49	CDZIP	Cadiz Depositary Shares	Pair Corr
0.45	ENIC	Enel Chile SA	Pair Corr
0.42	AQNB	Algonquin Power Utilities	Pair Corr
0.39	ENLT	Enlight Renewable Energy	Pair Corr
0.34	NI	NiSource	Pair Corr
0.46	CNP	CenterPoint Energy	Pair Corr
0.45	ALE	Allete Inc	Pair Corr
0.45	GEV	GE Vernova LLC	Pair Corr
0.44	ETR	Entergy Sell-off Trend	Pair Corr
0.38	EDN	Empresa Distribuidora	Pair Corr

Related Correlations Analysis

	LOMLF	CPPKF	WHTGF	HGMCF	MARIF	SPNT	PKIN	ROOT
LOMLF		0.49	0.0	0.6	0.06	-0.6	-0.66	-0.32	LOMLF
CPPKF	0.49		0.0	0.81	-0.45	-0.33	-0.71	-0.07	CPPKF
WHTGF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	WHTGF
HGMCF	0.6	0.81	0.0		-0.54	-0.61	-0.87	-0.38	HGMCF
MARIF	0.06	-0.45	0.0	-0.54		0.44	0.42	0.56	MARIF
SPNT	-0.6	-0.33	0.0	-0.61	0.44		0.57	0.63	SPNT
PKIN	-0.66	-0.71	0.0	-0.87	0.42	0.57		0.4	PKIN
ROOT	-0.32	-0.07	0.0	-0.38	0.56	0.63	0.4		ROOT
	LOMLF	CPPKF	WHTGF	HGMCF	MARIF	SPNT	PKIN	ROOT

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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

HGMCF	+ 0.81	CPPKF
ROOT	+ 0.63	SPNT
HGMCF	+ 0.6	LOMLF
PKIN	+ 0.57	SPNT
ROOT	+ 0.56	MARIF
CPPKF	+ 0.49	LOMLF

High negative correlations

PKIN	- 0.87	HGMCF
PKIN	- 0.71	CPPKF
PKIN	- 0.66	LOMLF
SPNT	- 0.61	HGMCF
SPNT	- 0.6	LOMLF
MARIF	- 0.54	HGMCF

Risk-Adjusted Indicators

There is a big difference between Entergy Stock performing well and Entergy Louisiana 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 Entergy Louisiana'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
LOMLF	2.88	(0.02)	(0.01)	0.05	3.35	(6.38)	5.88	(5.56)	27.05
CPPKF	2.20	(0.27)	0.00	0.55	0.00	0.00	4.00	(5.17)	13.76
WHTGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HGMCF	1.01	(0.26)	0.00	0.62	0.00	0.00	0.00	0.00	20.97
MARIF	1.72	0.41	0.11	9.05	1.50	(3.58)	5.14	(2.81)	19.22
SPNT	1.71	0.16	0.03	(45.08)	1.96	(1.77)	2.68	(3.75)	19.39
PKIN	0.12	0.02	0.00	0.38	0.00	0.00	0.09	0.00	3.78
ROOT	4.53	1.66	0.37	2.14	3.48	(5.35)	7.40	(7.56)	78.98

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