Southern Correlations

SOJD Stock

USD 20.58 0.09 0.44%

The current 90-days correlation between Southern and Centrais Electricas Brasileiras is 0.23 (i.e., Modest 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

Very weak diversification

The correlation between Southern Co and DJI is 0.58 (i.e., Very weak 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

0.79	ES	Eversource Energy	Pair Corr
0.71	SO	Southern	Pair Corr
0.66	VGAS	Verde Clean Fuels	Pair Corr
0.74	ADN	Advent Technologies	Pair Corr
0.91	DTW	DTE Energy	Pair Corr
0.72	EAI	Entergy Arkansas LLC	Pair Corr
0.91	EMP	Entergy Mississippi LLC	Pair Corr
0.76	GNE	Genie Energy	Pair Corr
0.7	IDA	IDACORP	Pair Corr
0.65	PPL	PPL Corporation	Pair Corr

Moving against Southern Stock

0.88	ACO-Y	ATCO	Pair Corr
0.75	KEP	Korea Electric Power	Pair Corr
0.65	EDN	Empresa Distribuidora	Pair Corr
0.59	FTS	Fortis Inc	Pair Corr
0.55	EIX	Edison International	Pair Corr
0.52	ALE	Allete Inc	Pair Corr
0.47	ELPC	Companhia Paranaense	Pair Corr
0.44	DUKB	Duke Energy Corp	Pair Corr
0.8	CU	Canadian Utilities	Pair Corr
0.76	TXNM	TXNM Energy	Pair Corr
0.74	POR	Portland General Electric	Pair Corr
0.73	PAM	Pampa Energia SA	Pair Corr
0.63	EBR-B	Centrais Elétricas Trending	Pair Corr
0.56	OTTR	Otter Tail	Pair Corr
0.47	002893	Beijing HuaYuanYiTong	Pair Corr
0.34	AQNB	Algonquin Power Utilities	Pair Corr

Related Correlations Analysis

	CMS	EBR	EIX	FTS	KEP	EBR-B	DUK	AQNB
CMS		-0.5	-0.23	0.17	-0.18	-0.17	0.86	-0.6	CMS
EBR	-0.5		0.82	0.62	0.84	0.62	-0.77	0.68	EBR
EIX	-0.23	0.82		0.79	0.79	0.43	-0.45	0.74	EIX
FTS	0.17	0.62	0.79		0.66	0.36	-0.12	0.47	FTS
KEP	-0.18	0.84	0.79	0.66		0.72	-0.52	0.46	KEP
EBR-B	-0.17	0.62	0.43	0.36	0.72		-0.51	0.19	EBR-B
DUK	0.86	-0.77	-0.45	-0.12	-0.52	-0.51		-0.59	DUK
AQNB	-0.6	0.68	0.74	0.47	0.46	0.19	-0.59		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

DUK	+ 0.86	CMS
KEP	+ 0.84	EBR
EIX	+ 0.82	EBR
FTS	+ 0.79	EIX
KEP	+ 0.79	EIX
AQNB	+ 0.74	EIX

High negative correlations

DUK	- 0.77	EBR
AQNB	- 0.6	CMS
AQNB	- 0.59	DUK
DUK	- 0.52	KEP
DUK	- 0.51	EBR-B
EBR	- 0.5	CMS

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	0.77	(0.06)	0.00	(0.36)	0.00	0.00	1.27	(1.56)	5.00
EBR	1.30	0.56	0.33	2.01	0.97	(1.52)	3.69	(1.88)	7.18
EIX	1.14	0.14	0.08	0.29	1.28	(1.23)	2.09	(1.79)	8.06
FTS	0.59	0.04	(0.03)	(0.47)	0.56	(0.72)	1.35	(0.96)	3.22
KEP	1.96	0.36	0.14	0.77	2.02	(2.17)	4.91	(3.58)	12.93
EBR-B	2.48	0.42	0.06	2.41	4.41	(2.71)	5.25	(3.20)	31.49
DUK	0.72	(0.07)	0.00	0.89	0.00	0.00	1.59	(1.38)	4.59
AQNB	0.22	0.02	(0.10)	0.32	0.17	(0.25)	0.48	(0.44)	1.39

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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