Enersys Correlations

ENS Stock

USD 154.92 4.19 2.78%

The current 90-days correlation between Enersys and Powell Industries is 0.39 (i.e., Weak diversification). The correlation of Enersys 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.

Enersys Correlation With Market

Poor diversification

The correlation between Enersys and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enersys and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Enersys Stock

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

For more information on how to buy Enersys Stock please use our How to Invest in Enersys guide.

Moving together with Enersys Stock

0.74	300548	Broadex Technologies	Pair Corr
0.73	ESP	Espey Mfg Electronics	Pair Corr
0.82	300648	Fujian Nebula Electronics	Pair Corr
0.63	300032	Jinlong Machinery	Pair Corr
0.78	PPERF	Bank Mandiri Persero	Pair Corr
0.9	PPERY	Bank Mandiri Persero	Pair Corr

Moving against Enersys Stock

0.91	002670	Guosheng Financial	Pair Corr
0.89	ELPW	Elong Power Holding	Pair Corr
0.83	ETN	Eaton PLC	Pair Corr
0.74	002322	Ningbo Ligong Online	Pair Corr
0.73	002121	Shenzhen Clou Electronics	Pair Corr
0.68	605277	Xinya Electronic	Pair Corr
0.68	GNRC	Generac Holdings	Pair Corr
0.66	ZEO	Zeo Energy Corp Tech Boost	Pair Corr
0.66	600363	Jiangxi Lianchuang Opto	Pair Corr
0.58	603662	Keli Sensing Technology	Pair Corr
0.55	002249	Zhongshan Broad Ocean	Pair Corr
0.45	301131	Super Dragon Enginee	Pair Corr
0.83	PLUG	Plug Power Aggressive Push	Pair Corr
0.81	SUNE	SUNation Energy	Pair Corr
0.81	ULBI	Ultralife	Pair Corr
0.79	BEEM	Beam Global	Pair Corr
0.69	688063	Pylon Technologies	Pair Corr
0.67	NVVE	Nuvve Holding Corp	Pair Corr
0.62	300207	Sunwoda Electronic	Pair Corr
0.6	003021	Henzhen Zhaowei Machinery	Pair Corr
0.6	SPWR	Complete Solaria Symbol Change	Pair Corr
0.56	301359	Dongnan Electronics	Pair Corr
0.53	300842	Wuxi Dk Electronic	Pair Corr
0.35	603045	Fuda Alloy Materials	Pair Corr
0.71	SSNLF	Samsung Electronics	Pair Corr

Related Correlations Analysis

	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK
POWL		-0.27	-0.11	0.45	-0.32	0.03	0.66	-0.08	-0.02	-0.1	POWL
MMS	-0.27		0.3	-0.45	0.36	0.15	-0.44	0.1	0.56	0.58	MMS
OMAB	-0.11	0.3		-0.44	-0.03	-0.63	0.18	0.88	0.64	0.53	OMAB
EOSE	0.45	-0.45	-0.44		-0.11	0.43	0.62	-0.4	-0.37	-0.2	EOSE
MSM	-0.32	0.36	-0.03	-0.11		0.36	-0.21	-0.15	0.16	0.06	MSM
CAR	0.03	0.15	-0.63	0.43	0.36		-0.1	-0.75	-0.12	0.05	CAR
ECG	0.66	-0.44	0.18	0.62	-0.21	-0.1		0.21	0.02	-0.06	ECG
RAL	-0.08	0.1	0.88	-0.4	-0.15	-0.75	0.21		0.6	0.45	RAL
BCO	-0.02	0.56	0.64	-0.37	0.16	-0.12	0.02	0.6		0.74	BCO
ALK	-0.1	0.58	0.53	-0.2	0.06	0.05	-0.06	0.45	0.74		ALK
	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK

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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

RAL	+ 0.88	OMAB
ALK	+ 0.74	BCO
ECG	+ 0.66	POWL
BCO	+ 0.64	OMAB
ECG	+ 0.62	EOSE
BCO	+ 0.6	RAL

High negative correlations

RAL	- 0.75	CAR
CAR	- 0.63	OMAB
EOSE	- 0.45	MMS
EOSE	- 0.44	OMAB
ECG	- 0.44	MMS
RAL	- 0.4	EOSE

Risk-Adjusted Indicators

There is a big difference between Enersys Stock performing well and Enersys 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 Enersys' 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
POWL	2.89	0.10	0.04	0.12	4.22	(2.65)	6.27	(7.08)	18.07
MMS	1.11	0.00	(0.06)	0.04	1.22	(1.41)	3.37	(1.96)	7.44
OMAB	1.33	0.19	0.12	0.35	1.16	(1.51)	4.87	(1.79)	9.77
EOSE	5.77	0.05	0.05	0.08	5.87	(7.19)	13.18	(9.73)	38.85
MSM	1.21	(0.15)	0.00	(0.06)	0.00	0.00	2.84	(3.15)	8.99
CAR	1.82	(0.39)	0.00	(0.23)	0.00	0.00	3.62	(4.19)	10.91
ECG	2.76	(0.01)	0.04	0.07	3.86	(2.98)	5.40	(5.73)	20.64
RAL	1.36	0.26	0.11	(1.54)	1.40	(1.52)	2.83	(2.49)	8.74
BCO	1.19	0.09	0.02	0.86	1.45	(1.28)	2.91	(2.48)	10.50
ALK	2.06	(0.01)	0.02	0.07	2.57	(2.03)	4.46	(3.97)	10.65

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