Emera Incorporated Correlations

EMA Stock

48.87 0.19 0.39%

The current 90-days correlation between Emera Incorporated and Alliant Energy Corp is 0.36 (i.e., Weak diversification). The correlation of Emera Incorporated 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.

Emera Incorporated Correlation With Market

Very weak diversification

The correlation between Emera Incorporated and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emera Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Emera Stock

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

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

Moving together with Emera Stock

0.81	ENLT	Enlight Renewable Energy	Pair Corr
0.73	TXNM	TXNM Energy	Pair Corr
0.68	KB	KB Financial Group	Pair Corr
0.7	SHG	Shinhan Financial Earnings Call Tomorrow	Pair Corr
0.69	RKLIF	Rentokil Initial plc	Pair Corr
0.72	GRMC	Goldrich Mining	Pair Corr
0.76	IFS	Intercorp Financial Earnings Call Tomorrow	Pair Corr
0.79	CGIFF	Chemtrade Logistics	Pair Corr
0.8	NFYEF	NFI Group	Pair Corr
0.74	KMFG	KMFG	Pair Corr
0.73	HLTOF	Hellenic Telecommunicatio	Pair Corr
0.65	UEC	Uranium Energy Corp	Pair Corr
0.72	APPM	Apparel Manufacturing	Pair Corr

Moving against Emera Stock

0.79	PBCRY	Bank Central Asia	Pair Corr
0.67	OKLO	Oklo Inc	Pair Corr
0.45	PBCRF	PT Bank Central	Pair Corr
0.47	LPTV	Loop Media	Pair Corr
0.74	FATBB	FAT Brands	Pair Corr
0.51	NOKPF	Nok Airlines Public	Pair Corr
0.34	LADX	LadRx	Pair Corr

Related Correlations Analysis

	LNT	EVRG	SRE	PNW	OGE	WTRG	IDA	FRMI	CMS	SBS
LNT		0.85	0.56	0.43	0.92	0.62	0.55	0.39	0.92	0.42	LNT
EVRG	0.85		0.22	0.72	0.81	0.4	0.78	0.24	0.73	0.63	EVRG
SRE	0.56	0.22		-0.3	0.6	0.54	-0.14	0.71	0.66	-0.19	SRE
PNW	0.43	0.72	-0.3		0.34	0.17	0.94	-0.4	0.17	0.51	PNW
OGE	0.92	0.81	0.6	0.34		0.51	0.5	0.52	0.94	0.48	OGE
WTRG	0.62	0.4	0.54	0.17	0.51		0.25	0.22	0.49	-0.11	WTRG
IDA	0.55	0.78	-0.14	0.94	0.5	0.25		-0.23	0.3	0.54	IDA
FRMI	0.39	0.24	0.71	-0.4	0.52	0.22	-0.23		0.59	0.03	FRMI
CMS	0.92	0.73	0.66	0.17	0.94	0.49	0.3	0.59		0.44	CMS
SBS	0.42	0.63	-0.19	0.51	0.48	-0.11	0.54	0.03	0.44		SBS
	LNT	EVRG	SRE	PNW	OGE	WTRG	IDA	FRMI	CMS	SBS

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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

IDA	+ 0.94	PNW
CMS	+ 0.94	OGE
OGE	+ 0.92	LNT
CMS	+ 0.92	LNT
EVRG	+ 0.85	LNT
OGE	+ 0.81	EVRG

High negative correlations

FRMI	- 0.4	PNW
PNW	- 0.3	SRE
FRMI	- 0.23	IDA
SBS	- 0.19	SRE
IDA	- 0.14	SRE
SBS	- 0.11	WTRG

Risk-Adjusted Indicators

There is a big difference between Emera Stock performing well and Emera Incorporated 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 Emera Incorporated'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
LNT	0.63	0.00	(0.07)	0.13	0.97	(0.57)	1.47	(1.38)	4.28
EVRG	0.73	0.00	(0.08)	0.08	0.94	(0.69)	1.30	(1.31)	4.29
SRE	0.88	(0.11)	0.00	(0.20)	0.00	0.00	1.52	(2.76)	6.43
PNW	0.74	0.07	(0.02)	(3.32)	0.80	(0.76)	1.76	(1.14)	3.83
OGE	0.69	(0.01)	(0.08)	0.05	0.89	(0.69)	1.36	(1.46)	3.57
WTRG	1.01	(0.05)	0.00	(0.31)	0.00	0.00	2.16	(2.19)	6.71
IDA	0.75	0.06	(0.01)	0.35	0.83	(0.79)	1.66	(1.35)	4.65
FRMI	5.95	(1.55)	0.00	(0.57)	0.00	0.00	11.11	(13.43)	45.88
CMS	0.74	(0.01)	(0.08)	0.03	1.03	(0.71)	1.32	(1.37)	5.00
SBS	1.61	0.23	0.08	0.69	1.94	(1.82)	3.76	(4.23)	10.23

Emera Incorporated Corporate Management

Karen Hutt	Chief Officer	Profile
Chris Heck	Chief Officer	Profile
Janelle Poole	Vice Affairs	Profile
FCPA FCA	Executive USA	Profile

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