Evergy Correlations

EVRG Stock

USD 73.93 0.57 0.78%

The current 90-days correlation between Evergy and Alliant Energy Corp is 0.77 (i.e., Poor diversification). The correlation of Evergy 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.

Evergy Correlation With Market

Modest diversification

The correlation between Evergy and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evergy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Evergy Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Evergy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

For more detail on how to invest in Evergy Stock please use our How to Invest in Evergy guide.

Moving together with Evergy Stock

0.62	ES	Eversource Energy	Pair Corr
0.87	FE	FirstEnergy	Pair Corr
0.86	SO	Southern	Pair Corr
0.79	VGAS	Verde Clean Fuels	Pair Corr
0.88	PPL	PPL Corporation	Pair Corr
0.71	600131	State Grid Informati	Pair Corr
0.62	SOJE	Southern Company	Pair Corr
0.67	SOJC	Southern	Pair Corr
0.68	POM	POMDOCTOR LIMITED	Pair Corr
0.78	CMSA	CMS Energy Corp	Pair Corr
0.68	DTW	DTE Energy	Pair Corr
0.71	JD	JD Inc Adr Aggressive Push	Pair Corr

Moving against Evergy Stock

0.88	VLKAF	Volkswagen AG	Pair Corr
0.86	ACN	Accenture plc	Pair Corr
0.86	VWAGY	Volkswagen AG 110	Pair Corr
0.83	VLKPF	Volkswagen AG VZO	Pair Corr
0.76	AQNB	Algonquin Power Utilities	Pair Corr
0.76	SAR	Saratoga Investment Corp	Pair Corr
0.75	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.68	WEICF	Weichai Power	Pair Corr
0.59	CNL	Collective Mining	Pair Corr
0.51	EBR-B	Centrais Eltricas	Pair Corr
0.44	CUP-U	Caribbean Utilities	Pair Corr
0.87	SMEGF	Siemens Energy AG	Pair Corr
0.85	ATI	Allegheny Technologies	Pair Corr
0.85	FYBR	Frontier Communications Sell-off Trend	Pair Corr
0.83	NMIH	NMI Holdings	Pair Corr
0.83	MIELF	Mitsubishi Electric	Pair Corr
0.75	WSFS	WSFS Financial	Pair Corr
0.71	ACR-PC	ACRES Commercial Realty	Pair Corr
0.7	ACLLF	Atco	Pair Corr
0.68	BOF	BranchOut Food Common	Pair Corr
0.65	F	Ford Motor Aggressive Push	Pair Corr
0.63	EGBN	Eagle Bancorp Earnings Call Next Week	Pair Corr
0.58	ASXSF	Elysee Development Corp	Pair Corr

Related Correlations Analysis

	LNT	CMS	EMA	KEP	EIX	SBS	NI	FRMI	OKLO	AQNB
LNT		0.96	0.01	-0.32	-0.36	0.14	0.89	0.61	0.44	-0.69	LNT
CMS	0.96		-0.07	-0.34	-0.4	0.15	0.89	0.65	0.49	-0.73	CMS
EMA	0.01	-0.07		0.17	0.53	-0.06	0.01	-0.41	-0.25	0.51	EMA
KEP	-0.32	-0.34	0.17		0.74	0.69	-0.31	-0.75	-0.79	0.46	KEP
EIX	-0.36	-0.4	0.53	0.74		0.36	-0.29	-0.84	-0.7	0.78	EIX
SBS	0.14	0.15	-0.06	0.69	0.36		0.13	-0.3	-0.54	-0.06	SBS
NI	0.89	0.89	0.01	-0.31	-0.29	0.13		0.59	0.41	-0.6	NI
FRMI	0.61	0.65	-0.41	-0.75	-0.84	-0.3	0.59		0.87	-0.81	FRMI
OKLO	0.44	0.49	-0.25	-0.79	-0.7	-0.54	0.41	0.87		-0.56	OKLO
AQNB	-0.69	-0.73	0.51	0.46	0.78	-0.06	-0.6	-0.81	-0.56		AQNB
	LNT	CMS	EMA	KEP	EIX	SBS	NI	FRMI	OKLO	AQNB

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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

CMS	+ 0.96	LNT
NI	+ 0.89	LNT
NI	+ 0.89	CMS
OKLO	+ 0.87	FRMI
AQNB	+ 0.78	EIX
EIX	+ 0.74	KEP

High negative correlations

FRMI	- 0.84	EIX
AQNB	- 0.81	FRMI
OKLO	- 0.79	KEP
FRMI	- 0.75	KEP
AQNB	- 0.73	CMS
OKLO	- 0.7	EIX

Risk-Adjusted Indicators

There is a big difference between Evergy Stock performing well and Evergy 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 Evergy'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
LNT	0.65	(0.08)	0.00	(0.21)	0.00	0.00	1.14	(1.50)	4.27
CMS	0.76	(0.08)	0.00	(0.37)	0.00	0.00	1.30	(1.56)	5.00
EMA	0.61	0.03	(0.10)	(0.01)	0.79	(0.62)	1.20	(1.23)	3.82
KEP	2.10	0.46	0.18	0.70	2.15	(2.33)	5.91	(3.58)	12.93
EIX	1.15	0.15	0.08	0.33	1.21	(1.25)	2.32	(1.80)	8.07
SBS	1.41	(0.01)	(0.01)	0.07	2.18	(1.40)	2.53	(4.23)	10.23
NI	0.79	(0.08)	0.00	(0.14)	0.00	0.00	1.44	(1.72)	4.36
FRMI	6.32	(1.17)	0.00	(0.65)	0.00	0.00	12.96	(14.49)	59.14
OKLO	5.23	(0.51)	0.00	(0.05)	0.00	0.00	9.10	(12.33)	31.33
AQNB	0.19	0.01	(0.26)	0.25	0.16	(0.23)	0.40	(0.39)	1.39

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