Southern Correlations

SO Stock

USD 92.56 1.70 1.87%

The current 90-days correlation between Southern and Duke Energy is 0.87 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Southern moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Southern Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Southern Correlation With Market

Good diversification

The correlation between Southern Company and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Company and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Southern Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Southern Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Southern Stock

0.8	EVRG	Evergy Earnings Call Next Week	Pair Corr
0.65	CIG	Companhia Energetica	Pair Corr
0.63	IDA	IDACORP	Pair Corr
0.87	LNT	Alliant Energy Corp Earnings Call This Week	Pair Corr
0.61	PCG	PGE Corp Earnings Call This Week	Pair Corr
0.69	CMSA	CMS Energy Corp	Pair Corr

Moving against Southern Stock

0.45	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.56	CRH	CRH PLC ADR	Pair Corr
0.48	GGLDF	Getchell Gold Corp	Pair Corr

Related Correlations Analysis

	DUK	NGG	AEP	D	XEL	EXC	CEG	ETR	NEE
DUK		0.3	0.94	0.79	0.83	0.79	-0.37	0.74	0.72	DUK
NGG	0.3		0.22	0.58	-0.15	-0.2	-0.91	0.63	0.71	NGG
AEP	0.94	0.22		0.76	0.88	0.82	-0.31	0.77	0.72	AEP
D	0.79	0.58	0.76		0.51	0.51	-0.61	0.88	0.86	D
XEL	0.83	-0.15	0.88	0.51		0.89	0.03	0.54	0.47	XEL
EXC	0.79	-0.2	0.82	0.51	0.89		0.04	0.42	0.39	EXC
CEG	-0.37	-0.91	-0.31	-0.61	0.03	0.04		-0.59	-0.74	CEG
ETR	0.74	0.63	0.77	0.88	0.54	0.42	-0.59		0.87	ETR
NEE	0.72	0.71	0.72	0.86	0.47	0.39	-0.74	0.87		NEE
	DUK	NGG	AEP	D	XEL	EXC	CEG	ETR	NEE

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

AEP	+ 0.94	DUK
EXC	+ 0.89	XEL
XEL	+ 0.88	AEP
ETR	+ 0.88	D
NEE	+ 0.87	ETR
NEE	+ 0.86	D

High negative correlations

CEG	- 0.91	NGG
NEE	- 0.74	CEG
CEG	- 0.61	D
ETR	- 0.59	CEG
CEG	- 0.37	DUK
CEG	- 0.31	AEP

Risk-Adjusted Indicators

There is a big difference between Southern Stock performing well and Southern 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 Southern'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
DUK	0.72	0.04	(0.07)	(0.13)	0.95	(0.70)	1.58	(1.39)	4.59
NGG	0.84	0.25	0.20	0.99	0.62	(1.00)	1.93	(1.10)	4.11
AEP	0.74	0.05	(0.04)	0.83	0.95	(0.74)	1.73	(1.52)	4.63
D	0.93	0.00	0.02	0.00	1.17	(0.97)	1.99	(2.04)	5.71
XEL	0.81	(0.05)	0.00	(0.74)	0.00	0.00	1.40	(1.88)	3.97
EXC	0.88	(0.03)	0.00	1.05	0.00	0.00	1.44	(1.77)	4.76
CEG	2.31	(0.43)	0.00	(0.28)	0.00	0.00	5.34	(6.70)	16.01
ETR	0.87	0.05	(0.01)	0.20	1.08	(0.92)	1.90	(1.73)	4.91
NEE	0.89	0.13	0.06	0.39	1.14	(0.95)	2.05	(1.90)	5.66

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