Middlesex Water Correlations

MSEX Stock

USD 55.39 1.84 3.44%

The current 90-days correlation between Middlesex Water and UNITIL is 0.56 (i.e., Very weak diversification). The correlation of Middlesex 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.

Middlesex Water Correlation With Market

Very weak diversification

The correlation between Middlesex Water and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middlesex Water and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Middlesex Stock

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

For more information on how to buy Middlesex Stock please use our How to Invest in Middlesex Water guide.

Moving together with Middlesex Stock

0.65	AWR	American States Water	Pair Corr
0.65	HTO	H2O America Symbol Change	Pair Corr
0.82	YORW	York Water	Pair Corr
0.71	ARTNA	Artesian Resources	Pair Corr

Moving against Middlesex Stock

0.33	GUG	Guangdong Investment	Pair Corr
0.48	PTAIF	PT Astra International	Pair Corr
0.39	POM	POMDOCTOR LIMITED	Pair Corr

Related Correlations Analysis

	UTL	EAI	NEP	ARTNA	CWCO	YORW	WTTR	ETI	PCYO	SPH
UTL		0.49	-0.59	0.66	0.49	0.49	0.6	0.0	0.14	0.71	UTL
EAI	0.49		-0.21	0.74	0.79	0.67	0.67	0.0	0.38	0.45	EAI
NEP	-0.59	-0.21		-0.29	-0.19	-0.09	-0.55	0.0	0.2	-0.62	NEP
ARTNA	0.66	0.74	-0.29		0.88	0.67	0.72	0.0	0.22	0.64	ARTNA
CWCO	0.49	0.79	-0.19	0.88		0.64	0.72	0.0	0.27	0.53	CWCO
YORW	0.49	0.67	-0.09	0.67	0.64		0.47	0.0	0.73	0.35	YORW
WTTR	0.6	0.67	-0.55	0.72	0.72	0.47		0.0	0.17	0.69	WTTR
ETI	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ETI
PCYO	0.14	0.38	0.2	0.22	0.27	0.73	0.17	0.0		0.16	PCYO
SPH	0.71	0.45	-0.62	0.64	0.53	0.35	0.69	0.0	0.16		SPH
	UTL	EAI	NEP	ARTNA	CWCO	YORW	WTTR	ETI	PCYO	SPH

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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

CWCO	+ 0.88	ARTNA
CWCO	+ 0.79	EAI
ARTNA	+ 0.74	EAI
PCYO	+ 0.73	YORW
WTTR	+ 0.72	ARTNA
WTTR	+ 0.72	CWCO

High negative correlations

SPH	- 0.62	NEP
NEP	- 0.59	UTL
WTTR	- 0.55	NEP
ARTNA	- 0.29	NEP
NEP	- 0.21	EAI
CWCO	- 0.19	NEP

Risk-Adjusted Indicators

There is a big difference between Middlesex Stock performing well and Middlesex 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 Middlesex 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UTL	0.85	0.19	0.08	5.98	1.16	(0.86)	1.99	(1.86)	7.12
EAI	0.32	(0.01)	(0.14)	(0.01)	0.42	(0.31)	0.62	(0.70)	2.15
NEP	2.80	(0.81)	0.00	0.79	0.00	0.00	4.13	(6.77)	37.72
ARTNA	0.89	0.08	0.02	1.05	1.24	(0.89)	2.31	(2.15)	7.01
CWCO	1.31	0.05	0.04	0.10	1.60	(1.36)	2.29	(2.82)	11.83
YORW	0.96	0.07	0.01	0.63	1.26	(0.94)	2.15	(2.21)	5.69
WTTR	2.06	0.16	0.09	0.15	2.11	(2.46)	5.33	(4.12)	13.11
ETI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PCYO	1.39	(0.01)	(0.02)	0.04	1.55	(1.68)	3.66	(3.16)	8.34
SPH	0.91	0.15	0.07	2.37	1.12	(0.99)	1.81	(1.89)	5.48

Middlesex Water Corporate Management

Bruce CPA	Treasurer VP	Profile
Jay Esq	General VP	Profile
CPA CPA	Treasurer VP	Profile
Robert Capko	Principal Officer	Profile

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