Enersys Correlations

ENS Stock

USD 175.06 1.24 0.70%

The current 90-days correlation between Enersys and Powell Industries is 0.14 (i.e., Average 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 0.82 (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 metropolitan statistical area.

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

Moving together with Enersys Stock

0.93	ESP	Espey Mfg Electronics Earnings Call This Week	Pair Corr
0.63	NXT	Nextracker Class A	Pair Corr
0.9	THR	Thermon Group Holdings	Pair Corr
0.67	NRGV	Energy Vault Holdings	Pair Corr
0.88	PLPC	Preformed Line Products	Pair Corr
0.74	POWL	Powell Industries Earnings Call Today	Pair Corr
0.66	MAT	Mattel Inc Earnings Call Today	Pair Corr
0.86	NEWTH	NewtekOne 8625 percent	Pair Corr

Moving against Enersys Stock

0.72	ZEO	Zeo Energy Corp	Pair Corr
0.68	GWH	ESS Tech	Pair Corr
0.58	FLUX	Flux Power Holdings	Pair Corr
0.58	CPV	Clearvue Technologies	Pair Corr
0.51	STI	Solidion Technology	Pair Corr
0.37	ELPW	Elong Power Holding	Pair Corr
0.34	6E6	ATON GREEN STORAGE	Pair Corr
0.92	PBCRY	Bank Central Asia	Pair Corr
0.79	CBAT	CBAK Energy Technology	Pair Corr
0.77	SUNE	SUNation Energy Tech Boost	Pair Corr
0.7	RAIN	Rain Enhancement Tec	Pair Corr
0.46	PBCRF	PT Bank Central	Pair Corr
0.37	SMXT	Solarmax Technology	Pair Corr
0.68	BROGF	BROGF	Pair Corr
0.44	ALL	Allstate	Pair Corr

Related Correlations Analysis

	POWL	MMS	OMAB	EOSE	MSM	CAR	ECG	RAL	BCO	ALK
POWL		0.22	0.71	0.21	0.59	-0.64	0.36	-0.04	0.78	0.62	POWL
MMS	0.22		0.46	0.39	-0.22	-0.5	-0.2	0.8	0.56	0.29	MMS
OMAB	0.71	0.46		-0.1	0.39	-0.77	0.13	0.36	0.89	0.84	OMAB
EOSE	0.21	0.39	-0.1		-0.16	0.1	0.5	0.25	0.12	-0.15	EOSE
MSM	0.59	-0.22	0.39	-0.16		-0.2	0.25	-0.37	0.35	0.31	MSM
CAR	-0.64	-0.5	-0.77	0.1	-0.2		0.22	-0.28	-0.76	-0.58	CAR
ECG	0.36	-0.2	0.13	0.5	0.25	0.22		-0.12	0.14	0.18	ECG
RAL	-0.04	0.8	0.36	0.25	-0.37	-0.28	-0.12		0.41	0.36	RAL
BCO	0.78	0.56	0.89	0.12	0.35	-0.76	0.14	0.41		0.84	BCO
ALK	0.62	0.29	0.84	-0.15	0.31	-0.58	0.18	0.36	0.84		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

BCO	+ 0.89	OMAB
ALK	+ 0.84	OMAB
ALK	+ 0.84	BCO
RAL	+ 0.8	MMS
BCO	+ 0.78	POWL
OMAB	+ 0.71	POWL

High negative correlations

CAR	- 0.77	OMAB
BCO	- 0.76	CAR
CAR	- 0.64	POWL
ALK	- 0.58	CAR
CAR	- 0.5	MMS
RAL	- 0.37	MSM

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	2.82	0.53	0.14	0.44	3.46	(2.85)	6.39	(5.25)	15.35
MMS	1.50	(0.19)	0.00	(0.21)	0.00	0.00	3.42	(2.31)	22.04
OMAB	1.53	0.43	0.34	0.52	0.88	(1.97)	4.87	(1.79)	10.36
EOSE	5.42	(0.15)	0.00	0.04	6.43	(5.55)	11.16	(9.57)	33.37
MSM	1.38	0.08	0.04	0.17	1.56	(1.40)	3.50	(3.15)	10.04
CAR	1.81	(0.37)	0.00	(0.12)	0.00	0.00	3.77	(4.19)	11.61
ECG	2.65	0.13	0.05	0.15	3.66	(2.87)	5.24	(5.73)	20.64
RAL	1.95	(0.16)	(0.01)	0.02	6.05	(1.83)	3.37	(2.41)	37.31
BCO	1.24	0.22	0.18	0.28	1.02	(1.48)	3.11	(2.28)	10.50
ALK	2.26	0.47	0.21	0.33	2.16	(2.57)	4.75	(4.30)	11.23

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