Global Water Correlations

Stocks . USA . 
Stock . Global Water Resources
GWRS Stock  USD 11.50  0.25  2.13%   
The current 90-days correlation between Global Water Resources and Artesian Resources is 0.51 (i.e., Very weak diversification). The correlation of Global Water 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.

Global Water Correlation With Market

Modest diversification

The correlation between Global Water Resources and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Water Resources and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Water Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Global Stock

  0.85WTRG Essential UtilitiesPairCorr
  0.85AWK American Water WorksPairCorr
  0.84AWR American States WaterPairCorr
  0.86CWT California Water ServicePairCorr
  0.69SBS Companhia de SaneamentoPairCorr
  0.84SJW SJW Group CommonPairCorr
  0.84YORW York WaterPairCorr
  0.89ARTNA Artesian ResourcesPairCorr
  0.89MSEX Middlesex WaterPairCorr
  0.7D Dominion EnergyPairCorr
  0.76ED Consolidated Edison Sell-off TrendPairCorr
  0.71ES Eversource EnergyPairCorr
  0.79FE FirstEnergy Earnings Call This WeekPairCorr
  0.77HE Hawaiian ElectricPairCorr
  0.74SO SouthernPairCorr
  0.64CMS-PB Consumers EnergyPairCorr
  0.7CMS-PC CMS EnergyPairCorr
  0.75AQN Algonquin Power UtilitiesPairCorr
  0.65ATO Atmos Energy Earnings Call This WeekPairCorr

Moving against Global Stock

  0.63CDZI Cadiz Inc Buyout TrendPairCorr
  0.58CDZIP Cadiz Depositary SharesPairCorr
  0.72ENIC Enel Chile SAPairCorr
  0.53ENLT Enlight Renewable EnergyPairCorr
  0.51ELLO Ellomay CapitalPairCorr
  0.34ALE Allete IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

Global Water Corporate Management

Suzanne KittsVP ControllerProfile
Michael LiebmanCFO VPProfile
Steven BrillVice SecurityProfile
Christopher CFAChief OfficerProfile
Robert KutaExecutive ResourcesProfile
John LenderkingSenior AffairsProfile
Joanne EllsworthExecutive AffairsProfile
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