Eversource Energy Correlations

ES Stock

USD 63.38 0.63 1.00%

The current 90-days correlation between Eversource Energy and CenterPoint Energy is 0.41 (i.e., Very weak diversification). The correlation of Eversource Energy 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.

Eversource Energy Correlation With Market

Good diversification

The correlation between Eversource Energy and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eversource Energy 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 Eversource Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

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

Moving together with Eversource Stock

0.81	ED	Consolidated Edison	Pair Corr
0.9	FE	FirstEnergy	Pair Corr
0.83	AEP	American Electric Power	Pair Corr
0.68	DTE	DTE Energy	Pair Corr
0.82	EBR	Centrais Electricas	Pair Corr
0.81	NEE	Nextera Energy Fiscal Year End 23rd of January 2025	Pair Corr
0.82	NGG	National Grid PLC	Pair Corr

Moving against Eversource Stock

0.78	EDN	Empresa Distribuidora	Pair Corr
0.76	ETR	Entergy Sell-off Trend	Pair Corr
0.64	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.59	CNP	CenterPoint Energy	Pair Corr
0.43	EVRG	Evergy,	Pair Corr
0.42	VSTE	Vast Renewables	Pair Corr
0.36	AGR	Avangrid	Pair Corr
0.77	IDA	IDACORP	Pair Corr
0.75	SCE-PH	SCE Trust III	Pair Corr
0.71	SCE-PJ	SCE Trust IV	Pair Corr
0.7	OGE	OGE Energy	Pair Corr
0.69	TLN	Talen Energy	Pair Corr
0.64	XEL	Xcel Energy Sell-off Trend	Pair Corr
0.55	PCG	PGE Corp Aggressive Push	Pair Corr
0.42	PPL	PPL Corporation	Pair Corr
0.39	PNW	Pinnacle West Capital	Pair Corr
0.39	WEC	WEC Energy Group Sell-off Trend	Pair Corr
0.35	SCE-PL	SCE Trust VI	Pair Corr
0.31	SCE-PN	SCE Trust VIII	Pair Corr

Related Correlations Analysis

	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL
CNP		-0.49	0.48	0.04	0.85	0.03	0.75	0.95	0.38	0.78	CNP
FE	-0.49		-0.22	0.7	-0.22	0.68	0.04	-0.51	0.44	-0.57	FE
PNW	0.48	-0.22		0.11	0.23	-0.33	0.47	0.63	-0.03	0.8	PNW
EIX	0.04	0.7	0.11		0.17	0.61	0.47	-0.02	0.48	-0.13	EIX
PEG	0.85	-0.22	0.23	0.17		0.39	0.75	0.77	0.68	0.51	PEG
DTE	0.03	0.68	-0.33	0.61	0.39		0.42	-0.07	0.87	-0.34	DTE
LNT	0.75	0.04	0.47	0.47	0.75	0.42		0.75	0.68	0.58	LNT
AEE	0.95	-0.51	0.63	-0.02	0.77	-0.07	0.75		0.31	0.87	AEE
CMS	0.38	0.44	-0.03	0.48	0.68	0.87	0.68	0.31		0.06	CMS
XEL	0.78	-0.57	0.8	-0.13	0.51	-0.34	0.58	0.87	0.06		XEL
	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL

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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

AEE	+ 0.95	CNP
CMS	+ 0.87	DTE
XEL	+ 0.87	AEE
PEG	+ 0.85	CNP
XEL	+ 0.8	PNW
XEL	+ 0.78	CNP

High negative correlations

XEL	- 0.57	FE
AEE	- 0.51	FE
FE	- 0.49	CNP
XEL	- 0.34	DTE
DTE	- 0.33	PNW
PEG	- 0.22	FE

Risk-Adjusted Indicators

There is a big difference between Eversource Stock performing well and Eversource Energy 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 Eversource Energy'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
CNP	0.88	0.27	0.12	(6.03)	0.95	(0.99)	1.80	(1.74)	5.92
FE	0.69	(0.05)	0.00	(0.44)	0.00	0.00	1.13	(1.48)	3.72
PNW	0.82	0.06	(0.01)	0.26	0.79	(0.89)	1.99	(1.48)	4.99
EIX	0.82	0.03	(0.07)	0.29	0.97	(0.83)	1.77	(1.59)	3.77
PEG	1.03	0.16	0.05	0.52	1.44	(1.10)	2.31	(2.23)	10.21
DTE	0.80	0.01	(0.07)	0.28	1.38	(0.66)	1.44	(2.13)	5.21
LNT	0.90	0.14	0.02	8.40	1.03	(1.02)	2.04	(1.89)	5.81
AEE	0.84	0.19	0.10	1.25	0.63	(1.02)	1.91	(1.39)	6.03
CMS	0.70	0.05	(0.06)	0.95	0.99	(0.69)	1.34	(1.88)	3.94
XEL	0.80	0.27	0.20	11.47	0.39	(0.93)	1.90	(1.15)	7.27

Eversource Energy Corporate Executives

Elected by the shareholders, the Eversource Energy's board of directors comprises two types of representatives: Eversource Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eversource. The board's role is to monitor Eversource Energy's management team and ensure that shareholders' interests are well served. Eversource Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eversource Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Paul III

Executive COO

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