Southern Company Correlations

SOJE Stock

USD 20.12 0.30 1.51%

The current 90-days correlation between Southern Company and Southern Co is 0.8 (i.e., Very poor diversification). The correlation of Southern Company 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 Company Correlation With Market

Average diversification

The correlation between Southern Company Series and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Company Series and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Southern Stock refer to our How to Trade Southern Stock guide.

Moving together with Southern Stock

0.71	DUKB	Duke Energy Corp	Pair Corr
0.64	CMS-PC	CMS Energy	Pair Corr
0.65	RNWWW	ReNew Energy Global	Pair Corr
0.74	AQN	Algonquin Power Utilities	Pair Corr
0.61	AWK	American Water Works	Pair Corr
0.64	BEP	Brookfield Renewable	Pair Corr
0.97	DTB	DTE Energy	Pair Corr
0.95	DTG	DTE Energy	Pair Corr

Moving against Southern Stock

0.82	ELLO	Ellomay Capital	Pair Corr
0.7	CDZIP	Cadiz Depositary Shares	Pair Corr
0.68	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.5	EE	Excelerate Energy	Pair Corr
0.48	NI	NiSource	Pair Corr
0.38	ENLC	EnLink Midstream LLC	Pair Corr
0.37	WAVE	Eco Wave Power Upward Rally	Pair Corr
0.36	VSTE	Vast Renewables	Pair Corr
0.32	AY	Atlantica Sustainable	Pair Corr
0.32	ALE	Allete Inc	Pair Corr
0.31	EVRG	Evergy,	Pair Corr
0.73	IDA	IDACORP	Pair Corr
0.67	EPD	Enterprise Products	Pair Corr
0.65	CQP	Cheniere Energy Partners	Pair Corr
0.63	DTM	DT Midstream	Pair Corr
0.6	EDN	Empresa Distribuidora	Pair Corr

Related Correlations Analysis

	SOJD	DTB	SOJC	PFH	UZE
SOJD		0.86	0.91	0.92	-0.41	SOJD
DTB	0.86		0.87	0.93	-0.03	DTB
SOJC	0.91	0.87		0.93	-0.13	SOJC
PFH	0.92	0.93	0.93		-0.08	PFH
UZE	-0.41	-0.03	-0.13	-0.08		UZE
	SOJD	DTB	SOJC	PFH	UZE

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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

PFH	+ 0.93	DTB
PFH	+ 0.93	SOJC
PFH	+ 0.92	SOJD
SOJC	+ 0.91	SOJD
SOJC	+ 0.87	DTB
DTB	+ 0.86	SOJD

High negative correlations

UZE	- 0.41	SOJD
UZE	- 0.13	SOJC
UZE	- 0.08	PFH
UZE	- 0.03	DTB

Risk-Adjusted Indicators

There is a big difference between Southern Stock performing well and Southern Company 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 Company'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
SOJD	0.56	(0.07)	0.00	(0.77)	0.00	0.00	1.03	(1.47)	3.26
DTB	0.59	(0.07)	0.00	(0.20)	0.00	0.00	1.07	(1.24)	4.70
SOJC	0.41	(0.03)	0.00	(0.10)	0.00	0.00	0.87	(1.07)	2.60
PFH	0.57	(0.02)	0.00	(0.29)	0.00	0.00	1.30	(1.34)	3.18
UZE	0.42	0.12	0.02	1.20	0.15	(0.50)	1.35	(0.71)	2.96

Southern Company Corporate Management

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

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