Public Service Correlations

PEG Stock

EUR 16.50 0.00 0.00%

The current 90-days correlation between Public Service Enterprise and Air Lease is 0.11 (i.e., Average diversification). The correlation of Public Service 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.

Public Service Correlation With Market

Average diversification

The correlation between Public Service Enterprise and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Service Enterprise and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Public Service could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Public Service when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Public Service - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Public Service Enterprise to buy it.

Moving together with Public Stock

0.62	485B	Amcor plc	Pair Corr
0.75	SK3	Smurfit Kappa Group	Pair Corr
0.75	4W8	Graphic Packaging Holding	Pair Corr

Moving against Public Stock

0.64	NEP	SLOMAN NEPTUN Schiff	Pair Corr
0.64	NTG	Nabaltec AG	Pair Corr
0.62	O4B	OVB Holding AG	Pair Corr
0.56	TM2	Sydbank AS	Pair Corr
0.56	918	ShotSpotter	Pair Corr
0.48	FJG	ELECTRIC POWER DEVL	Pair Corr
0.46	XCA	CREDIT AGRICOLE	Pair Corr
0.45	FXMA	Bradespar SA	Pair Corr
0.39	TQI	TELECOM ITALIA	Pair Corr
0.35	NNN1	Tencent Holdings	Pair Corr
0.35	4720	CELLNTELECUNSPADR12	Pair Corr
0.83	CTNK	Centrotherm International	Pair Corr
0.66	JAN	Japan Asia Investment	Pair Corr
0.56	FJZB	ZIJIN MINH UNSPADR20	Pair Corr
0.54	JATA	JAPAN TOBACCO UNSPADR12	Pair Corr

Related Correlations Analysis

	TM5	WIJ	AVLA	TM5	GRU	CI1A	CUEH	ALG
TM5		-0.41	0.02	0.99	0.9	0.74	-0.17	0.59	TM5
WIJ	-0.41		0.48	-0.41	-0.34	-0.74	0.46	0.02	WIJ
AVLA	0.02	0.48		0.02	0.01	-0.3	0.37	-0.12	AVLA
TM5	0.99	-0.41	0.02		0.89	0.73	-0.17	0.59	TM5
GRU	0.9	-0.34	0.01	0.89		0.75	-0.09	0.58	GRU
CI1A	0.74	-0.74	-0.3	0.73	0.75		-0.24	0.22	CI1A
CUEH	-0.17	0.46	0.37	-0.17	-0.09	-0.24		-0.02	CUEH
ALG	0.59	0.02	-0.12	0.59	0.58	0.22	-0.02		ALG
	TM5	WIJ	AVLA	TM5	GRU	CI1A	CUEH	ALG

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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

TM5	+ 0.99	TM5
GRU	+ 0.9	TM5
GRU	+ 0.89	TM5
CI1A	+ 0.75	GRU
CI1A	+ 0.74	TM5
CI1A	+ 0.73	TM5

High negative correlations

CI1A	- 0.74	WIJ
TM5	- 0.41	WIJ
WIJ	- 0.41	TM5
GRU	- 0.34	WIJ
CI1A	- 0.3	AVLA
CUEH	- 0.24	CI1A

Risk-Adjusted Indicators

There is a big difference between Public Stock performing well and Public Service 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 Public Service'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
TM5	1.49	0.18	0.10	0.27	2.45	(1.38)	3.19	(4.00)	11.72
WIJ	2.30	(0.53)	0.00	(1.91)	0.00	0.00	4.94	(5.82)	22.45
AVLA	1.65	(0.01)	0.00	(0.17)	0.00	0.00	2.37	(5.24)	17.73
TM5	1.59	0.19	0.12	0.30	2.29	(1.63)	3.20	(4.94)	12.21
GRU	2.47	0.24	0.07	0.13	3.55	(2.51)	5.94	(6.63)	18.68
CI1A	1.23	0.25	0.22	1.76	1.30	(1.59)	2.97	(2.55)	10.56
CUEH	2.37	(0.12)	0.00	1.07	0.00	0.00	4.79	(6.80)	19.95
ALG	0.04	(0.01)	0.00	6.56	0.00	0.00	0.00	0.00	1.45

Be your own money manager

Our tools can tell you how much better you can do entering a position in Public Service without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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