Enel SpA Correlations

ESOCF Stock

USD 11.80 0.02 0.17%

The current 90-days correlation between Enel SpA and Fortum Oyj ADR is -0.16 (i.e., Good diversification). The correlation of Enel SpA 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.

Enel SpA Correlation With Market

Very weak diversification

The correlation between Enel SpA and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enel SpA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Enel SpA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enel SpA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Enel SpA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Enel SpA to buy it.

Moving together with Enel Pink Sheet

0.84	IBDSF	Iberdrola SA	Pair Corr
0.83	IBDRY	Iberdrola SA	Pair Corr
0.86	ENLAY	ENEL Societa per	Pair Corr
0.88	ENGQF	Engie SA	Pair Corr
0.85	SHG	Shinhan Financial Earnings Call Tomorrow	Pair Corr
0.79	KB	KB Financial Group Earnings Call Today	Pair Corr
0.79	EC	Ecopetrol SA ADR	Pair Corr
0.79	MUFG	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.77	WF	Woori Financial Group	Pair Corr
0.77	TTC	Toro	Pair Corr
0.68	ATI	Allegheny Technologies	Pair Corr
0.7	CMI	Cummins	Pair Corr
0.68	DRRSF	Arianne Phosphate	Pair Corr
0.84	RIG	Transocean Aggressive Push	Pair Corr
0.62	TFII	TFI International	Pair Corr
0.68	UEC	Uranium Energy Corp	Pair Corr
0.66	NFYEF	NFI Group	Pair Corr

Moving against Enel Pink Sheet

0.64	VFSWW	VinFast Auto	Pair Corr
0.62	PPWLM	PacifiCorp	Pair Corr
0.5	SRE	Sempra Energy	Pair Corr
0.34	PPWLO	PacifiCorp	Pair Corr
0.5	NOKPF	Nok Airlines Public	Pair Corr
0.48	FATBB	FAT Brands	Pair Corr
0.36	LPTV	Loop Media	Pair Corr

Related Correlations Analysis

	FOJCY	IBDRY	IBDSF	ENGIY	ENGQF	ENAKF	EONGY	NGGTF	RWEOY	RWNFF
FOJCY		0.55	0.51	0.59	0.59	0.67	0.72	0.66	0.66	0.64	FOJCY
IBDRY	0.55		0.97	0.97	0.95	0.74	0.92	0.84	0.93	0.93	IBDRY
IBDSF	0.51	0.97		0.96	0.93	0.71	0.9	0.84	0.91	0.91	IBDSF
ENGIY	0.59	0.97	0.96		0.98	0.79	0.94	0.88	0.97	0.96	ENGIY
ENGQF	0.59	0.95	0.93	0.98		0.79	0.93	0.88	0.96	0.95	ENGQF
ENAKF	0.67	0.74	0.71	0.79	0.79		0.84	0.79	0.83	0.82	ENAKF
EONGY	0.72	0.92	0.9	0.94	0.93	0.84		0.88	0.94	0.94	EONGY
NGGTF	0.66	0.84	0.84	0.88	0.88	0.79	0.88		0.86	0.86	NGGTF
RWEOY	0.66	0.93	0.91	0.97	0.96	0.83	0.94	0.86		0.97	RWEOY
RWNFF	0.64	0.93	0.91	0.96	0.95	0.82	0.94	0.86	0.97		RWNFF
	FOJCY	IBDRY	IBDSF	ENGIY	ENGQF	ENAKF	EONGY	NGGTF	RWEOY	RWNFF

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Risk-Adjusted Indicators

There is a big difference between Enel Pink Sheet performing well and Enel SpA 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 Enel SpA'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
FOJCY	2.35	0.10	0.00	(0.37)	2.98	(2.52)	5.60	(4.82)	16.70
IBDRY	0.68	0.19	0.17	0.75	0.41	(0.78)	1.60	(0.92)	3.57
IBDSF	1.11	0.24	0.10	(70.25)	1.25	(1.14)	3.15	(2.15)	7.68
ENGIY	0.82	0.39	0.33	7.53	0.45	(1.05)	2.35	(1.19)	4.64
ENGQF	1.79	0.39	0.17	1.17	1.64	(2.11)	4.67	(3.60)	9.42
ENAKF	1.93	0.13	0.01	8.72	2.80	(5.04)	5.77	(7.24)	23.33
EONGY	0.98	0.24	0.11	1.34	1.07	(1.00)	2.13	(1.90)	7.20
NGGTF	1.76	0.22	0.05	(4.57)	2.14	(1.98)	4.39	(4.33)	13.18
RWEOY	1.18	0.38	0.28	0.93	0.86	(1.49)	2.61	(1.51)	12.57
RWNFF	1.46	0.38	0.16	(1.48)	1.41	(1.70)	3.48	(2.46)	10.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Enel SpA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Enel SpA Corporate Management

Giulio Fazio	Head of Legal and Corporate Affairs	Profile
Claudio Machetti	Head of Group Risk Management Department	Profile
Francesca Carlo	Head of Internal Audit Department	Profile
Ernesto Ciorra	Head of Innovation and Sustainability	Profile
Guido Stratta	Head Organisation	Profile

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