Eversource Energy Correlations

ES Stock

USD 75.13 0.26 0.35%

The current 90-days correlation between Eversource Energy and CenterPoint Energy is 0.46 (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

Very weak diversification

The correlation between Eversource Energy and DJI is 0.54 (i.e., Very weak 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.

Build AI portfolio with Eversource Stock

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 main economic indicators.

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

Moving together with Eversource Stock

0.7	FE	FirstEnergy	Pair Corr
0.68	HE	Hawaiian Electric Earnings Call This Week	Pair Corr
0.72	GZF	Engie SA Earnings Call Tomorrow	Pair Corr
0.67	SO	Southern	Pair Corr
0.69	ELPC	Companhia Paranaense Earnings Call Tomorrow	Pair Corr
0.62	ENIC	Enel Chile SA Earnings Call This Week	Pair Corr
0.69	EVRG	Evergy	Pair Corr
0.77	CLP1	CLP HLDGS LTD Earnings Call Tomorrow	Pair Corr
0.64	AEP	American Electric Power	Pair Corr
0.71	CIG	Companhia Energetica	Pair Corr
0.79	DTW	DTE Energy	Pair Corr
0.68	EAI	Entergy Arkansas LLC	Pair Corr
0.81	EIX	Edison International	Pair Corr
0.69	ELC	Entergy Louisiana LLC	Pair Corr
0.71	EMA	Emera Incorporated	Pair Corr
0.69	EMP	Entergy Mississippi LLC	Pair Corr
0.73	ETR	Entergy	Pair Corr
0.74	FTS	Fortis Inc	Pair Corr
0.71	SCTA	SSE PLC ADR	Pair Corr
0.77	IDA	IDACORP	Pair Corr
0.66	FTS	Fortis Inc	Pair Corr
0.72	KEP	Korea Electric Power Earnings Call Tomorrow	Pair Corr

Moving against Eversource Stock

0.57	VGAS	Verde Clean Fuels	Pair Corr
0.56	CEG	Constellation Energy Corp	Pair Corr
0.53	EDN	Empresa Distribuidora	Pair Corr
0.46	RNWWW	ReNew Energy Global	Pair Corr
0.57	PAM	Pampa Energia SA Earnings Call This Week	Pair Corr
0.52	RNW	Renew Energy Global Earnings Call Today	Pair Corr

Related Correlations Analysis

	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL
CNP		0.97	0.94	0.89	0.88	0.97	0.95	0.98	0.9	0.82	CNP
FE	0.97		0.93	0.85	0.84	0.98	0.95	0.98	0.89	0.83	FE
PNW	0.94	0.93		0.94	0.77	0.94	0.85	0.93	0.74	0.64	PNW
EIX	0.89	0.85	0.94		0.8	0.87	0.8	0.86	0.68	0.56	EIX
PEG	0.88	0.84	0.77	0.8		0.83	0.86	0.85	0.85	0.76	PEG
DTE	0.97	0.98	0.94	0.87	0.83		0.95	0.98	0.89	0.83	DTE
LNT	0.95	0.95	0.85	0.8	0.86	0.95		0.96	0.96	0.91	LNT
AEE	0.98	0.98	0.93	0.86	0.85	0.98	0.96		0.9	0.83	AEE
CMS	0.9	0.89	0.74	0.68	0.85	0.89	0.96	0.9		0.96	CMS
XEL	0.82	0.83	0.64	0.56	0.76	0.83	0.91	0.83	0.96		XEL
	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL

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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	0.80	0.13	0.02	(0.73)	0.89	(0.85)	1.91	(1.68)	3.77
FE	0.76	0.15	0.04	(0.70)	0.80	(0.79)	1.79	(1.31)	4.08
PNW	0.81	0.20	0.10	(1.02)	0.72	(0.89)	2.10	(1.36)	3.83
EIX	1.19	0.40	0.19	5.07	1.28	(1.32)	3.01	(2.41)	6.29
PEG	0.86	0.08	(0.01)	37.18	1.12	(0.88)	1.73	(2.04)	5.47
DTE	0.74	0.11	0.01	(1.54)	0.97	(0.70)	1.69	(1.48)	4.29
LNT	0.71	0.09	(0.01)	(0.83)	1.04	(0.68)	1.66	(1.58)	4.39
AEE	0.77	0.10	0.00	(1.67)	0.99	(0.75)	1.49	(1.53)	5.15
CMS	0.76	0.06	(0.03)	(1.38)	1.01	(0.74)	1.32	(1.36)	3.92
XEL	0.90	0.07	(0.02)	(0.56)	1.23	(0.85)	1.68	(1.88)	4.63

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

Profile

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