Enersys Correlations

ENS Stock

USD 163.77 2.20 1.33%

The current 90-days correlation between Enersys and Powell Industries is 0.27 (i.e., Modest 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

Very poor diversification

The correlation between Enersys and DJI is 0.8 (i.e., Very 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 inflation.

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

Moving together with Enersys Stock

0.69	ST	Sensata Technologies	Pair Corr
0.79	P4L	PREFORMED LINE PROD	Pair Corr
0.83	VICR	Vicor	Pair Corr
0.64	CEA	FRIWO AG	Pair Corr
0.8	ELVA	Electrovaya	Pair Corr
0.68	WATT	Energous	Pair Corr
0.77	ELVA	Electrovaya	Pair Corr
0.85	AME	Ametek Inc	Pair Corr
0.88	EMR	Emerson Electric	Pair Corr
0.85	ESP	Espey Mfg Electronics	Pair Corr
0.8	NVT	nVent Electric PLC	Pair Corr
0.89	NXT	Nextracker Class A	Pair Corr
0.79	RBC	RBC Bearings	Pair Corr

Moving against Enersys Stock

0.87	0LT	Leoch International	Pair Corr
0.82	AYI	Acuity Brands	Pair Corr
0.81	2V3	VPower Group Interna	Pair Corr
0.8	PN	Skycorp Solar Group	Pair Corr
0.61	ENVX	Enovix Corp	Pair Corr
0.39	FLUX	Flux Power Holdings	Pair Corr
0.38	EAF	GrafTech International	Pair Corr
0.35	ELPW	Elong Power Holding	Pair Corr
0.31	EFOI	Energy Focu	Pair Corr
0.87	AQ8	Acuity Brands	Pair Corr
0.85	MLITN	Italy Innovazioni SpA	Pair Corr
0.78	HMM-A	Hammond Manufacturing	Pair Corr
0.76	GWH	ESS Tech	Pair Corr
0.69	XLE1	LEGEND POWER SYS	Pair Corr
0.46	XCH	XCHG Limited American	Pair Corr
0.41	2F0	AB Fagerhult	Pair Corr
0.38	STI	Solidion Technology	Pair Corr
0.35	ZEO	Zeo Energy Corp	Pair Corr

Related Correlations Analysis

	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK
POWL		-0.5	0.9	-0.42	0.85	-0.78	0.67	-0.66	0.86	0.69	POWL
MMS	-0.5		-0.5	0.74	-0.62	0.45	-0.71	0.77	-0.24	-0.4	MMS
OMAB	0.9	-0.5		-0.44	0.81	-0.75	0.61	-0.63	0.83	0.69	OMAB
EOSE	-0.42	0.74	-0.44		-0.62	0.55	-0.64	0.61	-0.21	-0.39	EOSE
MSM	0.85	-0.62	0.81	-0.62		-0.66	0.66	-0.75	0.66	0.58	MSM
CAR	-0.78	0.45	-0.75	0.55	-0.66		-0.78	0.5	-0.67	-0.43	CAR
ECG	0.67	-0.71	0.61	-0.64	0.66	-0.78		-0.55	0.47	0.35	ECG
RAL	-0.66	0.77	-0.63	0.61	-0.75	0.5	-0.55		-0.4	-0.45	RAL
BCO	0.86	-0.24	0.83	-0.21	0.66	-0.67	0.47	-0.4		0.7	BCO
ALK	0.69	-0.4	0.69	-0.39	0.58	-0.43	0.35	-0.45	0.7		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

OMAB	+ 0.9	POWL
BCO	+ 0.86	POWL
MSM	+ 0.85	POWL
BCO	+ 0.83	OMAB
MSM	+ 0.81	OMAB
RAL	+ 0.77	MMS

High negative correlations

ECG	- 0.78	CAR
CAR	- 0.78	POWL
RAL	- 0.75	MSM
CAR	- 0.75	OMAB
ECG	- 0.71	MMS
BCO	- 0.67	CAR

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	2.42	0.75	0.26	0.56	2.23	(2.67)	5.76	(4.00)	20.35
MMS	1.63	(0.19)	0.00	0.22	0.00	0.00	3.45	(3.13)	20.36
OMAB	1.47	0.07	0.04	0.10	1.75	(1.54)	3.42	(2.89)	8.36
EOSE	5.73	(0.98)	0.00	(0.23)	0.00	0.00	11.13	(9.73)	54.50
MSM	1.25	0.06	0.03	0.10	1.71	(1.19)	3.19	(3.12)	8.43
CAR	2.19	(0.50)	0.00	(0.21)	0.00	0.00	4.11	(4.19)	26.60
ECG	2.89	0.45	0.13	0.26	3.30	(3.32)	5.15	(5.73)	30.95
RAL	1.98	(0.06)	0.00	0.01	5.86	(1.97)	3.78	(2.41)	35.57
BCO	1.42	0.14	0.06	0.12	2.54	(1.58)	4.14	(2.29)	18.50
ALK	2.38	0.39	0.11	24.11	2.69	(2.45)	4.75	(4.63)	14.27

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