Endesa SA Correlations

ELEZY Stock

USD 10.74 0.01 0.09%

The current 90-days correlation between Endesa SA ADR and Centrais Electricas Brasileiras is 0.08 (i.e., Significant diversification). The correlation of Endesa SA 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.

Endesa SA Correlation With Market

Good diversification

The correlation between Endesa SA ADR and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Endesa SA ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Endesa SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Endesa SA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Endesa SA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Endesa SA ADR to buy it.

Moving together with Endesa Pink Sheet

0.68	NGG	National Grid PLC	Pair Corr
0.72	AEP	American Electric Power	Pair Corr

Moving against Endesa Pink Sheet

0.47	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.45	BAC	Bank of America Aggressive Push	Pair Corr
0.42	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.42	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.34	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.32	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.32	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	EQUEY	EBR	ETI-P	IDA	MGEE	HE	VIASP	KEP	GNE
EQUEY		0.86	-0.61	-0.58	-0.67	0.56	-0.37	0.12	0.51	EQUEY
EBR	0.86		-0.41	-0.78	-0.8	0.44	-0.62	-0.14	0.63	EBR
ETI-P	-0.61	-0.41		0.23	0.43	-0.43	0.12	-0.37	-0.29	ETI-P
IDA	-0.58	-0.78	0.23		0.94	0.01	0.83	0.47	-0.37	IDA
MGEE	-0.67	-0.8	0.43	0.94		-0.16	0.74	0.26	-0.35	MGEE
HE	0.56	0.44	-0.43	0.01	-0.16		0.21	0.54	0.52	HE
VIASP	-0.37	-0.62	0.12	0.83	0.74	0.21		0.56	-0.31	VIASP
KEP	0.12	-0.14	-0.37	0.47	0.26	0.54	0.56		-0.12	KEP
GNE	0.51	0.63	-0.29	-0.37	-0.35	0.52	-0.31	-0.12		GNE
	EQUEY	EBR	ETI-P	IDA	MGEE	HE	VIASP	KEP	GNE

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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

MGEE	+ 0.94	IDA
EBR	+ 0.86	EQUEY
VIASP	+ 0.83	IDA
VIASP	+ 0.74	MGEE
GNE	+ 0.63	EBR
HE	+ 0.56	EQUEY

High negative correlations

MGEE	- 0.8	EBR
IDA	- 0.78	EBR
MGEE	- 0.67	EQUEY
VIASP	- 0.62	EBR
ETI-P	- 0.61	EQUEY
IDA	- 0.58	EQUEY

Risk-Adjusted Indicators

There is a big difference between Endesa Pink Sheet performing well and Endesa SA 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 Endesa SA'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
EQUEY	1.92	(0.25)	0.00	1.18	0.00	0.00	4.61	(5.10)	16.50
EBR	1.34	(0.37)	0.00	(1.92)	0.00	0.00	2.38	(3.44)	8.18
ETI-P	0.53	0.08	(0.05)	(3.91)	0.53	(0.64)	1.49	(1.01)	3.43
IDA	0.79	0.23	0.21	0.85	0.35	(0.99)	2.29	(0.96)	4.14
MGEE	1.06	0.18	0.17	0.28	0.84	(1.21)	2.95	(1.77)	9.44
HE	2.32	0.05	(0.03)	0.02	3.56	(2.26)	5.35	(6.30)	17.19
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
KEP	1.57	0.03	(0.04)	0.43	2.11	(1.72)	4.16	(3.00)	10.59
GNE	1.41	(0.22)	0.00	(0.08)	0.00	0.00	2.39	(2.61)	11.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Endesa SA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Endesa SA Corporate Management

Ignacio Soler	Gen Communication	Profile
Luca Passa	F Admin	Profile
Arturo FernndezCuevas	Head B2B	Profile
Francisco Besga	Secretary General	Profile
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