Enel Chile Correlations

ENIC Stock

USD 2.80 0.01 0.36%

The current 90-days correlation between Enel Chile SA and Centrais Eltricas Brasileiras is 0.11 (i.e., Average diversification). The correlation of Enel Chile 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.

Enel Chile Correlation With Market

Modest diversification

The correlation between Enel Chile SA and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enel Chile SA 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 Enel Chile SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against Enel Stock

0.43	AEP	American Electric Power	Pair Corr
0.37	NGG	National Grid PLC	Pair Corr
0.36	GNE	Genie Energy	Pair Corr

Related Correlations Analysis

	EBR-B	KEP	CEPU	CMS	IDA	EBR	EDN	GNE	ETI-P	MGEE
EBR-B		0.05	-0.84	-0.12	-0.68	0.99	-0.82	0.57	-0.5	-0.74	EBR-B
KEP	0.05		0.28	-0.31	0.31	0.03	0.32	0.01	-0.38	0.08	KEP
CEPU	-0.84	0.28		0.02	0.84	-0.85	0.97	-0.43	0.44	0.86	CEPU
CMS	-0.12	-0.31	0.02		-0.27	-0.05	-0.06	-0.03	0.59	-0.03	CMS
IDA	-0.68	0.31	0.84	-0.27		-0.72	0.86	-0.29	0.19	0.92	IDA
EBR	0.99	0.03	-0.85	-0.05	-0.72		-0.84	0.57	-0.46	-0.77	EBR
EDN	-0.82	0.32	0.97	-0.06	0.86	-0.84		-0.41	0.45	0.84	EDN
GNE	0.57	0.01	-0.43	-0.03	-0.29	0.57	-0.41		-0.16	-0.26	GNE
ETI-P	-0.5	-0.38	0.44	0.59	0.19	-0.46	0.45	-0.16		0.45	ETI-P
MGEE	-0.74	0.08	0.86	-0.03	0.92	-0.77	0.84	-0.26	0.45		MGEE
	EBR-B	KEP	CEPU	CMS	IDA	EBR	EDN	GNE	ETI-P	MGEE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

EBR	+ 0.99	EBR-B
EDN	+ 0.97	CEPU
MGEE	+ 0.92	IDA
MGEE	+ 0.86	CEPU
EDN	+ 0.86	IDA
IDA	+ 0.84	CEPU

High negative correlations

EBR	- 0.85	CEPU
EDN	- 0.84	EBR
CEPU	- 0.84	EBR-B
EDN	- 0.82	EBR-B
MGEE	- 0.77	EBR
MGEE	- 0.74	EBR-B

Risk-Adjusted Indicators

There is a big difference between Enel Stock performing well and Enel Chile 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 Enel Chile'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
EBR-B	1.36	(0.31)	0.00	(0.43)	0.00	0.00	2.34	(2.48)	12.18
KEP	1.74	0.20	0.06	1.31	2.03	(2.02)	4.19	(3.00)	14.14
CEPU	1.87	0.58	0.23	1.57	1.77	(2.12)	4.46	(2.97)	11.02
CMS	0.69	0.04	(0.04)	1.99	0.99	(0.67)	1.34	(1.88)	3.94
IDA	0.80	0.19	0.19	0.66	0.44	(1.04)	2.29	(1.08)	4.12
EBR	1.29	(0.32)	0.00	(0.99)	0.00	0.00	2.79	(3.29)	9.56
EDN	2.34	1.01	0.45	3.31	1.46	(2.89)	6.94	(2.98)	10.19
GNE	1.32	(0.14)	0.00	(0.03)	0.00	0.00	2.39	(2.42)	9.98
ETI-P	0.52	0.06	(0.03)	(2.62)	0.56	(0.62)	1.49	(1.01)	3.43
MGEE	1.10	0.17	0.17	0.22	0.87	(1.30)	2.95	(1.77)	9.44

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC