Entergy New Correlations

ENO Stock

USD 22.15 0.24 1.07%

The current 90-days correlation between Entergy New Orleans and Entergy New Orleans is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Entergy New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Entergy New Orleans moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Entergy New Correlation With Market

Average diversification

The correlation between Entergy New Orleans and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy New Orleans 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 Entergy New Orleans. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Entergy Stock

0.68	FC	Franklin Covey	Pair Corr
0.63	DLHC	DLH Holdings Corp	Pair Corr
0.77	EXPO	Exponent	Pair Corr
0.83	WLDN	Willdan Group	Pair Corr
0.74	BCO	Brinks Company	Pair Corr
0.65	MAN	ManpowerGroup	Pair Corr
0.82	SOS	SOS Limited	Pair Corr
0.79	KELYB	Kelly Services B	Pair Corr
0.73	KELYA	Kelly Services A	Pair Corr
0.63	HDSN	Hudson Technologies	Pair Corr

Moving against Entergy Stock

0.85	KC	Kingsoft Cloud Holdings Downward Rally	Pair Corr
0.66	FVRR	Fiverr International	Pair Corr
0.62	KAR	KAR Auction Services	Pair Corr
0.6	FOUR	Shift4 Payments	Pair Corr
0.53	BR	Broadridge Financial	Pair Corr
0.5	EXLS	ExlService Holdings	Pair Corr
0.4	G	Genpact Limited Earnings Call This Week	Pair Corr
0.39	DLX	Deluxe	Pair Corr
0.77	PYCR	Paycor HCM Sell-off Trend	Pair Corr
0.74	MATW	Matthews International	Pair Corr
0.56	XYZ	Block, Inc Symbol Change	Pair Corr
0.56	AFRM	Affirm Holdings Earnings Call This Week	Pair Corr
0.5	INOD	Innodata	Pair Corr
0.36	IMXI	International Money	Pair Corr
0.32	HSII	Heidrick Struggles	Pair Corr
0.32	AERTW	Aeries Technology	Pair Corr

Related Correlations Analysis

	EAI	ENJ	EMP	SOJC	DTW
EAI		0.8	0.9	0.77	0.78	EAI
ENJ	0.8		0.61	0.92	0.85	ENJ
EMP	0.9	0.61		0.6	0.62	EMP
SOJC	0.77	0.92	0.6		0.9	SOJC
DTW	0.78	0.85	0.62	0.9		DTW
	EAI	ENJ	EMP	SOJC	DTW

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Risk-Adjusted Indicators

There is a big difference between Entergy Stock performing well and Entergy New 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 Entergy New'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EAI	0.72	(0.09)	(0.21)	1.35	(1.40)	5.02
ENJ	0.81	(0.13)	(0.38)	1.85	(1.73)	5.23
EMP	0.66	(0.09)	(0.38)	1.11	(1.55)	3.87
SOJC	0.63	(0.10)	(0.32)	1.37	(1.29)	3.60
DTW	0.78	(0.08)	(0.26)	2.09	(1.21)	4.09

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