Public Service Correlations

PEG Stock

USD 92.40 0.05 0.05%

The current 90-days correlation between Public Service Enterprise and CenterPoint Energy is 0.33 (i.e., Weak 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

Modest diversification

The correlation between Public Service Enterprise and DJI is 0.21 (i.e., Modest 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Public Service Enterprise. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Public Stock

0.61	SO	Southern	Pair Corr
0.71	CMS-PB	Consumers Energy	Pair Corr
0.77	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.68	CMS	CMS Energy	Pair Corr
0.85	CNP	CenterPoint Energy	Pair Corr
0.72	EXC	Exelon	Pair Corr
0.75	LNT	Alliant Energy Corp	Pair Corr
0.62	PPL	PPL Corporation Sell-off Trend	Pair Corr
0.69	TLN	Talen Energy	Pair Corr
0.68	WEC	WEC Energy Group	Pair Corr

Moving against Public Stock

0.71	HE	Hawaiian Electric	Pair Corr
0.59	EBR	Centrais Electricas	Pair Corr
0.53	VSTEW	Vast Renewables	Pair Corr
0.44	GNE	Genie Energy	Pair Corr
0.38	KEP	Korea Electric Power	Pair Corr

Related Correlations Analysis

	CNP	FE	PNW	EIX	LNT	CMS	ETR	EVRG	PNM	SO
CNP		-0.49	0.48	0.04	0.75	0.38	0.83	0.72	0.78	0.37	CNP
FE	-0.49		-0.22	0.7	0.04	0.44	-0.74	-0.28	-0.57	0.39	FE
PNW	0.48	-0.22		0.11	0.47	-0.03	0.59	0.89	0.59	-0.05	PNW
EIX	0.04	0.7	0.11		0.47	0.48	-0.33	0.15	-0.27	0.36	EIX
LNT	0.75	0.04	0.47	0.47		0.68	0.49	0.72	0.5	0.61	LNT
CMS	0.38	0.44	-0.03	0.48	0.68		0.04	0.21	0.2	0.9	CMS
ETR	0.83	-0.74	0.59	-0.33	0.49	0.04		0.74	0.87	0.13	ETR
EVRG	0.72	-0.28	0.89	0.15	0.72	0.21	0.74		0.76	0.19	EVRG
PNM	0.78	-0.57	0.59	-0.27	0.5	0.2	0.87	0.76		0.25	PNM
SO	0.37	0.39	-0.05	0.36	0.61	0.9	0.13	0.19	0.25		SO
	CNP	FE	PNW	EIX	LNT	CMS	ETR	EVRG	PNM	SO

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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

SO	+ 0.9	CMS
EVRG	+ 0.89	PNW
PNM	+ 0.87	ETR
ETR	+ 0.83	CNP
PNM	+ 0.78	CNP
PNM	+ 0.76	EVRG

High negative correlations

ETR	- 0.74	FE
PNM	- 0.57	FE
FE	- 0.49	CNP
ETR	- 0.33	EIX
EVRG	- 0.28	FE
PNM	- 0.27	EIX

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
CNP	0.88	0.27	0.12	(6.03)	0.95	(0.99)	1.80	(1.74)	5.92
FE	0.69	(0.05)	0.00	(0.44)	0.00	0.00	1.13	(1.48)	3.72
PNW	0.82	0.06	(0.01)	0.26	0.79	(0.89)	1.99	(1.48)	4.99
EIX	0.82	0.03	(0.07)	0.29	0.97	(0.83)	1.77	(1.59)	3.77
LNT	0.90	0.14	0.02	8.40	1.03	(1.02)	2.04	(1.89)	5.81
CMS	0.70	0.05	(0.06)	0.95	0.99	(0.69)	1.34	(1.88)	3.94
ETR	0.97	0.42	0.18	(1.38)	1.03	(1.20)	2.07	(1.52)	21.62
EVRG	0.69	0.14	0.04	0.96	0.65	(0.74)	1.53	(1.22)	3.30
PNM	0.77	0.30	0.17	(2.89)	0.66	(0.97)	1.80	(1.13)	7.12
SO	0.79	0.04	(0.09)	(0.26)	0.94	(0.83)	1.73	(1.57)	5.63

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