NextEra Energy, Correlations

NEE-PS Stock

51.92 0.13 0.25%

The current 90-days correlation between NextEra Energy, and Advanced Micro Devices is -0.11 (i.e., Good diversification). The correlation of NextEra 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. If the correlation is 0, the equities are not correlated; they are entirely random.

NextEra Energy, Correlation With Market

Good diversification

The correlation between NextEra Energy, and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NextEra Energy, and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NextEra 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 board of governors.

Moving together with NextEra Stock

0.87	ED	Consolidated Edison	Pair Corr
0.76	ES	Eversource Energy	Pair Corr
0.75	FE	FirstEnergy	Pair Corr
0.63	SO	Southern	Pair Corr
0.73	AEP	American Electric Power	Pair Corr
0.75	CMS	CMS Energy	Pair Corr
0.86	DTE	DTE Energy	Pair Corr
0.64	DUK	Duke Energy	Pair Corr
0.74	EXC	Exelon	Pair Corr
0.98	NEE	Nextera Energy Fiscal Year End 23rd of January 2025	Pair Corr
0.82	NGG	National Grid PLC	Pair Corr

Moving against NextEra Stock

0.71	IDA	IDACORP	Pair Corr
0.61	EDN	Empresa Distribuidora	Pair Corr
0.51	ETR	Entergy	Pair Corr
0.44	KEP	Korea Electric Power	Pair Corr
0.56	PCG-PC	Pacific Gas	Pair Corr
0.54	PCG-PI	Pacific Gas Downward Rally	Pair Corr
0.53	MGEE	MGE Energy	Pair Corr
0.52	OKLO	Oklo Inc Symbol Change	Pair Corr
0.46	XEL	Xcel Energy Fiscal Year End 23rd of January 2025	Pair Corr
0.45	OGE	OGE Energy	Pair Corr
0.44	SCE-PH	SCE Trust III	Pair Corr
0.41	PCG	PGE Corp	Pair Corr
0.36	PNW	Pinnacle West Capital Sell-off Trend	Pair Corr
0.36	SCE-PJ	SCE Trust IV	Pair Corr
0.31	VSTEW	Vast Renewables	Pair Corr

Related Correlations Analysis

	ELTTF	KRG	CDR-PB	MTSI	AMD	MRAM	TSEM
ELTTF		0.0	0.0	0.0	0.0	0.0	0.0	ELTTF
KRG	0.0		0.56	0.69	-0.43	0.16	0.45	KRG
CDR-PB	0.0	0.56		0.73	0.13	0.61	0.6	CDR-PB
MTSI	0.0	0.69	0.73		-0.13	0.65	0.76	MTSI
AMD	0.0	-0.43	0.13	-0.13		0.38	0.13	AMD
MRAM	0.0	0.16	0.61	0.65	0.38		0.6	MRAM
TSEM	0.0	0.45	0.6	0.76	0.13	0.6		TSEM
	ELTTF	KRG	CDR-PB	MTSI	AMD	MRAM	TSEM

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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

TSEM	+ 0.76	MTSI
MTSI	+ 0.73	CDR-PB
MTSI	+ 0.69	KRG
MRAM	+ 0.65	MTSI
MRAM	+ 0.61	CDR-PB
TSEM	+ 0.6	CDR-PB

High negative correlations

AMD	- 0.43	KRG
AMD	- 0.13	MTSI
TSEM	- 0.0	ELTTF
MRAM	- 0.0	ELTTF
AMD	- 0.0	ELTTF
MTSI	- 0.0	ELTTF

Risk-Adjusted Indicators

There is a big difference between NextEra Stock performing well and NextEra Energy, 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 NextEra Energy,'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
ELTTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRG	0.79	0.08	0.01	0.31	0.81	(0.84)	1.60	(1.50)	4.33
CDR-PB	1.91	0.24	0.03	(2.79)	2.77	(1.97)	4.28	(4.61)	13.67
MTSI	2.11	0.21	0.11	0.24	2.35	(2.38)	5.00	(3.42)	17.09
AMD	2.03	(0.29)	0.00	(0.07)	0.00	0.00	3.96	(4.00)	16.31
MRAM	1.91	0.02	0.02	0.13	2.67	(2.06)	5.45	(5.02)	15.98
TSEM	1.85	0.08	0.05	0.17	2.62	(1.81)	3.85	(3.78)	16.72

NextEra Energy, Corporate Management

William Seeley	VP Secretary	Profile
Ronald Reagan	Construction Engineering	Profile
Charles Sieving	Environmental Legal	Profile
Mark Hickson	Executive Strategy	Profile

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