Entergy Correlations

Stocks . USA . 
Stock . Entergy
ETR Stock  USD 105.36  0.45  0.43%   
The current 90-days correlation between Entergy and Consolidated Edison is 0.44 (i.e., Very weak diversification). The correlation of Entergy 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.

Entergy Correlation With Market

Very weak diversification

The correlation between Entergy and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Entergy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.
To learn how to invest in Entergy Stock, please use our How to Invest in Entergy guide.

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Moving against Entergy Stock

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Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Entergy Stock performing well and Entergy 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 Entergy'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.

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