| EXE Stock | | | 107.92 1.63 1.53% |
The current 90-days correlation between Expand Energy and Ultrapar Participacoes SA is 0.04 (i.e., Significant diversification). The correlation of Expand 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.
Expand Energy Correlation With Market
Pay attention - limited upside
The correlation between Expand Energy and DJI is -0.74 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Expand 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 Expand 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 small area income & poverty estimates.
For information on how to trade Expand Stock refer to our
How to Trade Expand Stock guide.