Southern Correlations

SO Stock

USD 86.87 0.31 0.36%

The current 90-days correlation between Southern and Duke Energy is 0.82 (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 -0.03 (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 metropolitan statistical area.

Moving together with Southern Stock

0.65	ES	Eversource Energy	Pair Corr
0.68	FE	FirstEnergy	Pair Corr
0.66	VGAS	Verde Clean Fuels	Pair Corr
0.86	EVRG	Evergy	Pair Corr
0.67	ETR	Entergy	Pair Corr
0.85	EXC	Exelon	Pair Corr
0.92	GNE	Genie Energy	Pair Corr
0.92	IDA	IDACORP	Pair Corr
0.66	LNT	Alliant Energy Corp	Pair Corr
0.91	OGE	OGE Energy	Pair Corr
0.64	PCG	PGE Corp	Pair Corr
0.81	PNW	Pinnacle West Capital	Pair Corr
0.91	PPL	PPL Corporation	Pair Corr
0.78	XEL	Xcel Energy	Pair Corr
0.84	MGEE	MGE Energy	Pair Corr
0.75	600131	State Grid Informati	Pair Corr
0.88	OKLO	Oklo Inc Buyout Trend	Pair Corr
0.75	SOJE	Southern Company	Pair Corr
0.81	SOJC	Southern	Pair Corr

Moving against Southern Stock

0.84	PAM	Pampa Energia SA	Pair Corr
0.77	KEP	Korea Electric Power	Pair Corr
0.75	EDN	Empresa Distribuidora	Pair Corr
0.63	EIX	Edison International	Pair Corr
0.57	ELPC	Companhia Paranaense	Pair Corr
0.48	ENIC	Enel Chile SA	Pair Corr
0.47	HE	Hawaiian Electric	Pair Corr
0.34	FTS	Fortis Inc	Pair Corr
0.91	PPERY	Bank Mandiri Persero	Pair Corr
0.81	OTTR	Otter Tail	Pair Corr
0.76	PTAIY	Astra International Tbk	Pair Corr
0.72	PPERF	Bank Mandiri Persero	Pair Corr
0.7	EBR-B	Centrais Elétricas Trending	Pair Corr
0.56	AQNB	Algonquin Power Utilities	Pair Corr
0.43	PBCRY	Bank Central Asia	Pair Corr

Related Correlations Analysis

	DUK	NGG	AEP	D	XEL	EXC	CEG	ETR	NEE
DUK		-0.39	0.35	0.58	0.88	0.97	0.32	0.77	0.56	DUK
NGG	-0.39		0.16	-0.29	-0.52	-0.32	-0.28	-0.34	0.03	NGG
AEP	0.35	0.16		0.37	0.52	0.39	-0.22	0.53	0.66	AEP
D	0.58	-0.29	0.37		0.54	0.55	-0.15	0.52	0.57	D
XEL	0.88	-0.52	0.52	0.54		0.85	0.21	0.86	0.58	XEL
EXC	0.97	-0.32	0.39	0.55	0.85		0.37	0.78	0.63	EXC
CEG	0.32	-0.28	-0.22	-0.15	0.21	0.37		0.35	0.13	CEG
ETR	0.77	-0.34	0.53	0.52	0.86	0.78	0.35		0.67	ETR
NEE	0.56	0.03	0.66	0.57	0.58	0.63	0.13	0.67		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

EXC	+ 0.97	DUK
XEL	+ 0.88	DUK
ETR	+ 0.86	XEL
EXC	+ 0.85	XEL
ETR	+ 0.78	EXC
ETR	+ 0.77	DUK

High negative correlations

XEL	- 0.52	NGG
NGG	- 0.39	DUK
ETR	- 0.34	NGG
EXC	- 0.32	NGG
D	- 0.29	NGG
CEG	- 0.28	NGG

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	0.71	(0.06)	0.00	0.68	0.00	0.00	1.59	(1.38)	4.59
NGG	0.74	0.13	0.08	1.62	0.69	(0.86)	1.75	(1.43)	4.11
AEP	0.75	0.02	(0.05)	0.71	0.89	(0.84)	1.73	(1.50)	8.71
D	0.86	(0.04)	0.00	(2.21)	0.00	0.00	1.61	(1.93)	5.71
XEL	0.74	(0.13)	0.00	(0.67)	0.00	0.00	1.11	(1.64)	5.29
EXC	0.82	(0.04)	0.00	(3.81)	0.00	0.00	1.18	(1.51)	5.46
CEG	2.33	(0.04)	(0.01)	0.04	3.10	(2.20)	4.73	(4.72)	13.42
ETR	0.83	(0.04)	(0.07)	(0.02)	1.17	(0.76)	1.56	(1.67)	5.19
NEE	0.92	0.01	(0.01)	0.09	1.15	(1.01)	2.22	(2.17)	5.67

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