Southern Correlations

SOJD Stock

USD 20.43 0.05 0.25%

The current 90-days correlation between Southern and Centrais Electricas Brasileiras is 0.11 (i.e., Average diversification). The correlation of Southern 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.

Southern Correlation With Market

Poor diversification

The correlation between Southern Co and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Co 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 Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Southern Stock

0.75	HE	Hawaiian Electric	Pair Corr
0.68	GZF	Engie SA	Pair Corr
0.77	ENIC	Enel Chile SA	Pair Corr
0.62	CIG	Companhia Energetica	Pair Corr
0.78	DTW	DTE Energy	Pair Corr
0.77	EAI	Entergy Arkansas LLC	Pair Corr
0.66	EIX	Edison International	Pair Corr
0.65	IDA	IDACORP Earnings Call Tomorrow	Pair Corr
0.61	KEP	Korea Electric Power	Pair Corr
0.88	GPJA	Georgia Power	Pair Corr
0.74	CIG-C	Energy of Minas	Pair Corr

Moving against Southern Stock

0.62	PAM	Pampa Energia SA	Pair Corr
0.54	NRG	NRG Energy	Pair Corr
0.48	EDN	Empresa Distribuidora	Pair Corr
0.4	VGAS	Verde Clean Fuels	Pair Corr
0.71	VGASW	Verde Clean Fuels	Pair Corr
0.6	RNW	Renew Energy Global	Pair Corr
0.38	T8T	TELECOM PLUS PLC	Pair Corr
0.32	MNTK	Montauk Renewables	Pair Corr

Related Correlations Analysis

	CMS	EBR	EIX	FTS	KEP	EBR-B	DUK	AQNB
CMS		-0.58	-0.13	0.26	0.0	-0.53	0.88	-0.42	CMS
EBR	-0.58		0.44	0.14	0.15	0.97	-0.45	0.45	EBR
EIX	-0.13	0.44		0.82	0.77	0.49	0.1	0.87	EIX
FTS	0.26	0.14	0.82		0.76	0.19	0.47	0.68	FTS
KEP	0.0	0.15	0.77	0.76		0.23	0.14	0.8	KEP
EBR-B	-0.53	0.97	0.49	0.19	0.23		-0.39	0.47	EBR-B
DUK	0.88	-0.45	0.1	0.47	0.14	-0.39		-0.17	DUK
AQNB	-0.42	0.45	0.87	0.68	0.8	0.47	-0.17		AQNB
	CMS	EBR	EIX	FTS	KEP	EBR-B	DUK	AQNB

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

EBR-B	+ 0.97	EBR
DUK	+ 0.88	CMS
AQNB	+ 0.87	EIX
FTS	+ 0.82	EIX
AQNB	+ 0.8	KEP
KEP	+ 0.77	EIX

High negative correlations

EBR	- 0.58	CMS
EBR-B	- 0.53	CMS
DUK	- 0.45	EBR
AQNB	- 0.42	CMS
DUK	- 0.39	EBR-B
AQNB	- 0.17	DUK

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
CMS	0.75	0.02	(0.05)	0.27	1.01	(0.73)	1.32	(1.37)	5.00
EBR	2.20	0.49	0.08	2.51	4.49	(2.35)	2.80	(3.23)	32.39
EIX	1.05	0.21	0.10	0.65	1.37	(1.08)	2.11	(1.96)	6.29
FTS	0.66	0.14	0.06	(0.59)	0.59	(0.80)	1.35	(1.17)	4.38
KEP	2.29	0.52	0.16	(7.99)	2.38	(2.47)	6.12	(4.10)	19.98
EBR-B	2.54	0.55	0.07	(7.41)	4.47	(2.74)	5.25	(3.48)	31.49
DUK	0.71	0.02	(0.08)	(0.04)	0.98	(0.67)	1.58	(1.39)	4.59
AQNB	0.18	0.02	(0.27)	0.34	0.00	(0.23)	0.39	(0.32)	1.52

Southern Corporate Management

Henry Clark	Independent Director	Profile
Stanley Connally	Executive Vice President Operations of SCS	Profile
John Johns	Independent Director	Profile
William Smith	Independent Director	Profile
Mark Lantrip	Executive Vice President	Profile
Donald James	Independent Director	Profile
Christopher Cummiskey	Executive Vice President	Profile

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