ENTERGY Correlations

29364GAM5

96.73 0.23 0.24%

The current 90-days correlation between ENTERGY PORATION and AEP TEX INC is -0.32 (i.e., Very good diversification). The correlation of ENTERGY 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.

ENTERGY Correlation With Market

Very good diversification

The correlation between ENTERGY PORATION and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENTERGY PORATION and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ENTERGY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ENTERGY when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ENTERGY - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ENTERGY PORATION to buy it.

Moving against ENTERGY Bond

0.33

RCAT

Red Cat Holdings Trending

Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	DD	TRV	XOM	GE	JPM	MRK	T	JNJ
00108WAF7		-0.07	-0.01	0.02	-0.2	-0.11	-0.02	0.15	-0.07	0.15	00108WAF7
90331HPL1	-0.07		0.33	-0.23	-0.04	0.23	-0.44	0.3	-0.2	0.38	90331HPL1
DD	-0.01	0.33		0.04	0.48	0.74	-0.15	-0.02	0.22	-0.1	DD
TRV	0.02	-0.23	0.04		0.36	0.28	0.7	-0.77	0.82	-0.51	TRV
XOM	-0.2	-0.04	0.48	0.36		0.55	0.51	-0.57	0.39	-0.57	XOM
GE	-0.11	0.23	0.74	0.28	0.55		0.0	-0.11	0.35	-0.16	GE
JPM	-0.02	-0.44	-0.15	0.7	0.51	0.0		-0.83	0.49	-0.74	JPM
MRK	0.15	0.3	-0.02	-0.77	-0.57	-0.11	-0.83		-0.76	0.85	MRK
T	-0.07	-0.2	0.22	0.82	0.39	0.35	0.49	-0.76		-0.59	T
JNJ	0.15	0.38	-0.1	-0.51	-0.57	-0.16	-0.74	0.85	-0.59		JNJ
	00108WAF7	90331HPL1	DD	TRV	XOM	GE	JPM	MRK	T	JNJ

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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

JNJ	+ 0.85	MRK
T	+ 0.82	TRV
GE	+ 0.74	DD
JPM	+ 0.7	TRV
GE	+ 0.55	XOM
JPM	+ 0.51	XOM

High negative correlations

MRK	- 0.83	JPM
MRK	- 0.77	TRV
T	- 0.76	MRK
JNJ	- 0.74	JPM
JNJ	- 0.59	T
JNJ	- 0.57	XOM

Risk-Adjusted Indicators

There is a big difference between ENTERGY Bond performing well and ENTERGY Corporate Bond 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 ENTERGY'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
00108WAF7	1.26	0.17	0.03	(2.06)	1.37	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.04)	0.00	3.41	0.00	0.00	0.32	(0.85)	7.02
DD	1.00	(0.02)	(0.04)	0.09	1.19	(1.04)	2.68	(2.46)	7.46
TRV	1.09	0.17	0.12	0.28	1.18	(1.26)	1.93	(2.17)	11.31
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78
GE	1.27	(0.04)	0.00	0.09	2.23	(1.22)	2.85	(2.36)	14.10
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
JNJ	0.62	(0.09)	0.00	(0.28)	0.00	0.00	1.40	(1.42)	3.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in ENTERGY without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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