NiSource Correlations

NI Stock

USD 43.79 0.39 0.90%

The current 90-days correlation between NiSource and Centrais Electricas Brasileiras is 0.07 (i.e., Significant diversification). The correlation of NiSource 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.

NiSource Correlation With Market

Modest diversification

The correlation between NiSource and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiSource and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NiSource Stock

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

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

Moving together with NiSource Stock

0.75	D	Dominion Energy Sell-off Trend	Pair Corr
0.92	AEE	Ameren Corp	Pair Corr
0.8	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.88	CNP	CenterPoint Energy	Pair Corr
0.83	DTE	DTE Energy	Pair Corr
0.63	PEG	Public Service Enterprise	Pair Corr
0.77	SRE	Sempra Energy	Pair Corr
0.78	WEC	WEC Energy Group	Pair Corr
0.64	600982	Ningbo Thermal Power	Pair Corr
0.72	CMSA	CMS Energy Corp	Pair Corr

Moving against NiSource Stock

0.68	AGL	AGL Energy	Pair Corr
0.67	VLKAF	Volkswagen AG	Pair Corr
0.63	VWAGY	Volkswagen AG 110	Pair Corr
0.54	VLKPF	Volkswagen AG VZO	Pair Corr
0.46	ACN	Accenture plc	Pair Corr
0.46	PNC	PNC Financial Services	Pair Corr
0.37	WMT	Walmart Common Stock	Pair Corr
0.35	SAR	Saratoga Investment Corp	Pair Corr
0.35	ATGL	Alpha Technology	Pair Corr
0.32	CNL	Collective Mining	Pair Corr

Related Correlations Analysis

	EBR	CMS	EVRG	EBR-B	LNT	EIX	FTS	KEP	ATO
EBR		-0.69	-0.64	0.67	-0.55	0.77	0.46	0.78	-0.76	EBR
CMS	-0.69		0.87	-0.46	0.93	-0.41	0.14	-0.28	0.94	CMS
EVRG	-0.64	0.87		-0.43	0.92	-0.39	-0.03	-0.19	0.81	EVRG
EBR-B	0.67	-0.46	-0.43		-0.38	0.43	0.3	0.56	-0.5	EBR-B
LNT	-0.55	0.93	0.92	-0.38		-0.24	0.22	-0.1	0.86	LNT
EIX	0.77	-0.41	-0.39	0.43	-0.24		0.68	0.62	-0.43	EIX
FTS	0.46	0.14	-0.03	0.3	0.22	0.68		0.52	0.07	FTS
KEP	0.78	-0.28	-0.19	0.56	-0.1	0.62	0.52		-0.43	KEP
ATO	-0.76	0.94	0.81	-0.5	0.86	-0.43	0.07	-0.43		ATO
	EBR	CMS	EVRG	EBR-B	LNT	EIX	FTS	KEP	ATO

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

ATO	+ 0.94	CMS
LNT	+ 0.93	CMS
LNT	+ 0.92	EVRG
EVRG	+ 0.87	CMS
ATO	+ 0.86	LNT
ATO	+ 0.81	EVRG

High negative correlations

ATO	- 0.76	EBR
CMS	- 0.69	EBR
EVRG	- 0.64	EBR
LNT	- 0.55	EBR
ATO	- 0.5	EBR-B
EBR-B	- 0.46	CMS

Risk-Adjusted Indicators

There is a big difference between NiSource Stock performing well and NiSource 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 NiSource'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
EBR	1.30	0.58	0.30	(6.05)	0.97	(1.52)	3.69	(1.88)	7.18
CMS	0.74	(0.08)	0.00	(0.22)	0.00	0.00	1.27	(1.56)	5.00
EVRG	0.71	(0.03)	(0.10)	(0.01)	0.99	(0.64)	1.09	(1.31)	4.29
EBR-B	2.54	0.55	0.07	17.97	4.47	(2.74)	5.25	(3.48)	31.49
LNT	0.62	(0.02)	(0.09)	0.00	0.94	(0.57)	1.19	(1.29)	4.27
EIX	1.11	0.07	0.02	0.22	1.42	(1.12)	1.97	(1.80)	6.38
FTS	0.61	0.03	(0.09)	(0.76)	0.60	(0.74)	1.26	(1.00)	2.88
KEP	2.39	0.78	0.26	(19.71)	1.98	(2.72)	6.54	(3.58)	12.86
ATO	0.68	(0.09)	0.00	(0.31)	0.00	0.00	1.03	(1.61)	4.31

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