Enags SA Correlations

ENG Stock

EUR 15.02 0.13 0.87%

The current 90-days correlation between Enags SA and Solaria Energa y is 0.11 (i.e., Average diversification). The correlation of Enags 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.

Enags SA Correlation With Market

Very weak diversification

The correlation between Enags SA and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enags SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Enags 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 Enags 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 Enags 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 Enags SA to buy it.

Moving together with Enags Stock

0.76	SCYR	Sacyr SA	Pair Corr
0.69	MTS	ArcelorMittal SA	Pair Corr
0.66	OLE	Deoleo SA	Pair Corr
0.76	TRE	Tecnicas Reunidas	Pair Corr
0.62	FDR	Fluidra	Pair Corr
0.62	ROVI	Laboratorios Farmaceuticos	Pair Corr
0.63	XVALO	Vale SA Earnings Call This Week	Pair Corr
0.62	APAM	Aperam SA	Pair Corr
0.73	AENA	Aena SA	Pair Corr
0.63	VIS	Viscofan	Pair Corr
0.81	LOG	Cia de Distribucion	Pair Corr

Moving against Enags Stock

0.69	NAT	Natac Natural Ingredients	Pair Corr
0.4	TRG	Tubos Reunidos SA	Pair Corr

Related Correlations Analysis

	SLR	ENER	ETC	ADX	RED	ANE	HLZ
SLR		0.07	0.32	0.16	0.12	-0.01	-0.23	SLR
ENER	0.07		0.44	0.28	-0.05	0.43	0.21	ENER
ETC	0.32	0.44		0.2	-0.19	0.17	-0.39	ETC
ADX	0.16	0.28	0.2		0.11	0.36	0.1	ADX
RED	0.12	-0.05	-0.19	0.11		0.28	-0.28	RED
ANE	-0.01	0.43	0.17	0.36	0.28		0.12	ANE
HLZ	-0.23	0.21	-0.39	0.1	-0.28	0.12		HLZ
	SLR	ENER	ETC	ADX	RED	ANE	HLZ

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

ETC	+ 0.44	ENER
ANE	+ 0.43	ENER
ANE	+ 0.36	ADX
ETC	+ 0.32	SLR
ADX	+ 0.28	ENER
ANE	+ 0.28	RED

High negative correlations

HLZ	- 0.39	ETC
HLZ	- 0.28	RED
HLZ	- 0.23	SLR
RED	- 0.19	ETC
RED	- 0.05	ENER
ANE	- 0.01	SLR

Risk-Adjusted Indicators

There is a big difference between Enags Stock performing well and Enags 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 Enags 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
SLR	1.90	0.32	0.12	23.63	1.95	(2.01)	3.37	(3.70)	19.97
ENER	1.17	(0.06)	0.00	(0.20)	0.00	0.00	2.47	(2.67)	7.48
ETC	1.85	0.10	0.00	(0.12)	2.25	(2.25)	5.42	(4.11)	15.97
ADX	1.12	(0.05)	0.00	(0.09)	0.00	0.00	1.55	(2.26)	11.74
RED	0.69	0.09	0.03	(6.39)	0.73	(0.79)	1.39	(1.29)	3.69
ANE	1.41	(0.21)	0.00	(0.16)	0.00	0.00	2.15	(3.03)	7.82
HLZ	2.57	(0.25)	0.00	0.60	0.00	0.00	3.57	(5.13)	35.21

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enags 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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Enags SA Corporate Management

Elected by the shareholders, the Enags SA's board of directors comprises two types of representatives: Enags SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enags. The board's role is to monitor Enags SA's management team and ensure that shareholders' interests are well served. Enags SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enags SA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Arturo Aizpiri	CEO Director	Profile
Felisa Villan	Public Mang	Profile
Jos Real	Director Compliance	Profile
Javier Gregorio	Gen Transformation	Profile
Rafael Bautista	G Sec	Profile
Diego Ruiz	Vice Mang	Profile
Luis Romero	Chief Officer	Profile

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