Spire Correlations

SR Stock

USD 91.84 1.51 1.67%

The current 90-days correlation between Spire Inc and New Fortress Energy is -0.07 (i.e., Good diversification). The correlation of Spire 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Spire Correlation With Market

Good diversification

The correlation between Spire Inc and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spire Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spire Stock

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

Moving together with Spire Stock

0.71	NOU	NiSource	Pair Corr
0.64	LGR	Spire Inc	Pair Corr
0.83	ATO	Atmos Energy	Pair Corr
0.73	CPK	Chesapeake Utilities	Pair Corr
0.7	MDU	MDU Resources Group Sell-off Trend	Pair Corr
0.82	NWN	Northwest Natural Gas Earnings Call This Week	Pair Corr
0.84	OGS	One Gas	Pair Corr
0.61	OG9	ONE Gas Earnings Call This Week	Pair Corr

Moving against Spire Stock

0.54	KEH	Chinese People Holdings	Pair Corr
0.31	3U6	UGI Corporation	Pair Corr

Related Correlations Analysis

	GPJA	ENO	EMP	PCYO	NXXT	GWRS	NFE	ARTNA	ELLO
GPJA		0.63	0.45	0.05	-0.55	0.47	0.29	0.85	0.74	GPJA
ENO	0.63		0.64	0.05	-0.13	0.64	0.03	0.64	0.47	ENO
EMP	0.45	0.64		0.3	0.23	0.73	0.14	0.43	0.02	EMP
PCYO	0.05	0.05	0.3		0.01	-0.12	0.58	0.22	-0.03	PCYO
NXXT	-0.55	-0.13	0.23	0.01		0.15	-0.38	-0.45	-0.58	NXXT
GWRS	0.47	0.64	0.73	-0.12	0.15		-0.03	0.41	0.15	GWRS
NFE	0.29	0.03	0.14	0.58	-0.38	-0.03		0.33	0.26	NFE
ARTNA	0.85	0.64	0.43	0.22	-0.45	0.41	0.33		0.72	ARTNA
ELLO	0.74	0.47	0.02	-0.03	-0.58	0.15	0.26	0.72		ELLO
	GPJA	ENO	EMP	PCYO	NXXT	GWRS	NFE	ARTNA	ELLO

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

ARTNA	+ 0.85	GPJA
ELLO	+ 0.74	GPJA
GWRS	+ 0.73	EMP
ELLO	+ 0.72	ARTNA
EMP	+ 0.64	ENO
GWRS	+ 0.64	ENO

High negative correlations

ELLO	- 0.58	NXXT
NXXT	- 0.55	GPJA
ARTNA	- 0.45	NXXT
NFE	- 0.38	NXXT
NXXT	- 0.13	ENO
GWRS	- 0.12	PCYO

Risk-Adjusted Indicators

There is a big difference between Spire Stock performing well and Spire 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 Spire'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
GPJA	0.36	0.02	(0.06)	0.12	0.39	(0.41)	0.85	(0.84)	1.82
ENO	0.46	(0.03)	0.00	(0.12)	0.00	0.00	0.98	(1.08)	3.40
EMP	0.28	(0.05)	0.00	(0.11)	0.00	0.00	0.53	(0.72)	1.59
PCYO	1.39	(0.01)	(0.02)	0.04	1.55	(1.68)	3.66	(3.16)	8.34
NXXT	6.55	(0.98)	0.00	(0.19)	0.00	0.00	14.84	(12.03)	50.65
GWRS	1.22	(0.18)	0.00	(0.10)	0.00	0.00	2.22	(3.48)	8.15
NFE	4.95	0.18	0.02	0.41	5.61	(6.76)	12.14	(8.46)	45.05
ARTNA	0.89	0.08	0.02	1.05	1.23	(0.89)	2.28	(2.15)	7.04
ELLO	2.54	0.47	0.18	1.19	2.05	(3.70)	7.54	(4.33)	18.68

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