Enagas SA Correlations
| ENGGY Stock | USD 6.18 0.01 0.16% |
The current 90-days correlation between Enagas SA and Spire Inc is -0.1 (i.e., Good diversification). The correlation of Enagas 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.
Enagas SA Correlation With Market
Average diversification
The correlation between Enagas SA and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enagas SA and DJI in the same portfolio, assuming nothing else is changed.
Enagas |
The ability to find closely correlated positions to Enagas 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 Enagas 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 Enagas 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 Enagas SA to buy it.
Moving together with Enagas Pink Sheet
| 0.77 | SNMRY | Snam SpA ADR | PairCorr |
| 0.91 | PPERF | Bank Mandiri Persero Earnings Call Today | PairCorr |
| 0.94 | PPERY | Bank Mandiri Persero Earnings Call Today | PairCorr |
| 0.7 | BKRKF | PT Bank Rakyat Earnings Call This Week | PairCorr |
| 0.9 | BKRKY | Bank Rakyat Earnings Call This Week | PairCorr |
| 0.92 | PBCRY | Bank Central Asia | PairCorr |
| 0.8 | PBCRF | PT Bank Central | PairCorr |
| 0.84 | PTBRY | Bank Negara Indonesia Normal Trading | PairCorr |
| 0.73 | KB | KB Financial Group Earnings Call This Week | PairCorr |
| 0.87 | SHG | Shinhan Financial | PairCorr |
| 0.83 | WF | Woori Financial Group Earnings Call This Week | PairCorr |
| 0.7 | AEXAF | Atos SE | PairCorr |
Moving against Enagas Pink Sheet
| 0.53 | HOKCF | Hong Kong And | PairCorr |
| 0.47 | GASNF | Naturgy Energy Group | PairCorr |
| 0.43 | NI | NiSource | PairCorr |
| 0.85 | PDCO | Patterson Companies | PairCorr |
| 0.83 | VRSN | VeriSign | PairCorr |
| 0.83 | ACHR | Archer Aviation | PairCorr |
| 0.8 | BBAI | BigBearai Holdings | PairCorr |
| 0.74 | EOSE | Eos Energy Enterprises | PairCorr |
| 0.68 | HDELY | HeidelbergCement AG ADR | PairCorr |
| 0.59 | CCL | Carnival Buyout Trend | PairCorr |
| 0.56 | WES | Western Midstream | PairCorr |
| 0.56 | QFIN | 360 Finance Normal Trading | PairCorr |
| 0.54 | DAL | Delta Air Lines Sell-off Trend | PairCorr |
| 0.37 | ECPL | EcoPlus | PairCorr |
| 0.86 | EAT | Brinker International Earnings Call Today | PairCorr |
| 0.84 | URBN | Urban Outfitters | PairCorr |
| 0.77 | SERV | Serve Robotics Common | PairCorr |
| 0.72 | DAO | Youdao Inc | PairCorr |
Related Correlations Analysis
| 0.01 | 0.01 | -0.4 | -0.16 | XNGSF | ||
| 0.01 | 0.88 | 0.22 | -0.35 | EVGIF | ||
| 0.01 | 0.88 | 0.34 | -0.21 | OPAL | ||
| -0.4 | 0.22 | 0.34 | 0.5 | ATO | ||
| -0.16 | -0.35 | -0.21 | 0.5 | SR | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Enagas Pink Sheet performing well and Enagas 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 Enagas 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XNGSF | 2.52 | (0.01) | (0.01) | 0.03 | 3.99 | 8.38 | 29.34 | |||
| EVGIF | 2.10 | (0.64) | 0.00 | 0.91 | 0.00 | 0.81 | 38.07 | |||
| OPAL | 1.72 | (0.33) | 0.00 | (1.42) | 0.00 | 4.51 | 11.12 | |||
| ATO | 0.86 | (0.02) | (0.06) | 0.00 | 1.18 | 2.06 | 5.58 | |||
| SR | 1.16 | 0.13 | 0.03 | 14.78 | 1.66 | 2.68 | 9.26 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Enagas 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.Did you try this?
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Enagas SA Corporate Management
| Arturo Aizpiri | CEO Director | Profile | |
| Jos Real | Director Compliance | Profile | |
| Rafael Bautista | General Secretary | Profile | |
| Diego Ruiz | Vice Mang | Profile | |
| Luis Romero | Chief Officer | Profile |