NRG Energy Correlations

NRG Stock

USD 96.89 2.37 2.51%

The current 90-days correlation between NRG Energy and AGL Energy is 0.22 (i.e., Modest diversification). The correlation of NRG 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.

NRG Energy Correlation With Market

Modest diversification

The correlation between NRG Energy and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NRG 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 NRG 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 metropolitan statistical area.

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

Moving together with NRG Stock

0.82	KEN	Kenon Holdings	Pair Corr
0.68	PAM	Pampa Energia SA	Pair Corr
0.82	TAC	TransAlta Corp	Pair Corr
0.92	VST	Vistra Energy Corp Buyout Trend	Pair Corr
0.78	AY	Atlantica Sustainable	Pair Corr
0.74	NI	NiSource	Pair Corr
0.61	VGAS	Verde Clean Fuels	Pair Corr
0.69	CDZIP	Cadiz Depositary Shares	Pair Corr
0.79	AEE	Ameren Corp	Pair Corr
0.78	ALE	Allete Inc	Pair Corr
0.71	ATO	Atmos Energy	Pair Corr
0.68	BIP	Brookfield Infrastructure	Pair Corr

Moving against NRG Stock

0.7	HE	Hawaiian Electric	Pair Corr
0.69	ELPC	Companhia Paranaense	Pair Corr
0.67	ES	Eversource Energy	Pair Corr
0.6	FE	FirstEnergy	Pair Corr
0.6	RNWWW	ReNew Energy Global	Pair Corr
0.38	ED	Consolidated Edison	Pair Corr
0.68	CWT	California Water Service	Pair Corr
0.58	AWK	American Water Works	Pair Corr
0.56	AEP	American Electric Power	Pair Corr
0.48	AQN	Algonquin Power Utilities	Pair Corr
0.46	AVA	Avista	Pair Corr
0.33	CIG	Companhia Energetica	Pair Corr

Related Correlations Analysis

	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF
TAC		0.78	0.71	0.13	0.88	-0.44	0.23	0.12	TAC
KEN	0.78		0.86	-0.37	0.87	-0.45	0.68	-0.28	KEN
PAM	0.71	0.86		-0.42	0.86	-0.41	0.72	-0.38	PAM
AGLXY	0.13	-0.37	-0.42		-0.12	0.01	-0.73	0.74	AGLXY
VST	0.88	0.87	0.86	-0.12		-0.56	0.53	0.0	VST
HGKGY	-0.44	-0.45	-0.41	0.01	-0.56		-0.31	-0.23	HGKGY
MXGFF	0.23	0.68	0.72	-0.73	0.53	-0.31		-0.63	MXGFF
HUNGF	0.12	-0.28	-0.38	0.74	0.0	-0.23	-0.63		HUNGF
	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF

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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

VST	+ 0.88	TAC
VST	+ 0.87	KEN
PAM	+ 0.86	KEN
VST	+ 0.86	PAM
KEN	+ 0.78	TAC
HUNGF	+ 0.74	AGLXY

High negative correlations

MXGFF	- 0.73	AGLXY
HUNGF	- 0.63	MXGFF
HGKGY	- 0.56	VST
HGKGY	- 0.45	KEN
HGKGY	- 0.44	TAC
AGLXY	- 0.42	PAM

Risk-Adjusted Indicators

There is a big difference between NRG Stock performing well and NRG 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 NRG 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
TAC	1.38	0.33	0.14	(2.74)	1.33	(1.69)	3.70	(2.06)	13.36
KEN	1.32	0.16	0.07	0.31	1.58	(1.33)	2.93	(2.87)	7.00
PAM	1.52	0.62	0.39	0.96	0.97	(1.88)	3.57	(1.98)	8.23
AGLXY	2.07	(0.09)	0.00	0.63	0.00	0.00	7.61	(5.63)	16.51
VST	2.94	0.94	0.27	0.64	2.93	(3.43)	5.94	(4.36)	22.81
HGKGY	1.23	(0.07)	0.00	0.56	0.00	0.00	3.11	(2.86)	6.77
MXGFF	1.28	0.42	0.20	1.83	0.56	(2.63)	4.63	(2.03)	14.42
HUNGF	0.77	(0.23)	0.00	(0.42)	0.00	0.00	0.00	(3.85)	18.46

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