NISOURCE Correlations

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84.43 7.74 8.40%

The current 90-days correlation between NISOURCE INC and Eldorado Gold Corp is 0.16 (i.e., Average diversification). The correlation of NISOURCE 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.

NISOURCE Correlation With Market

Significant diversification

The correlation between NISOURCE INC and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NISOURCE INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NISOURCE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NISOURCE 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 NISOURCE - 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 NISOURCE INC to buy it.

Moving against NISOURCE Bond

0.81	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.81	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.77	EOS	Eaton Vance Enhanced	Pair Corr
0.76	ETH	Grayscale Ethereum Mini	Pair Corr
0.72	AMGIX	Income Growth	Pair Corr
0.61	FDS	FactSet Research Systems	Pair Corr
0.32	CIADY	China Mengniu Dairy	Pair Corr

Related Correlations Analysis

	EGO	CC	EFRMF	LOMLF	ORGN	AVNT	APD
EGO		-0.18	0.25	0.75	0.6	-0.16	-0.04	EGO
CC	-0.18		-0.4	0.01	-0.28	0.8	0.53	CC
EFRMF	0.25	-0.4		-0.14	0.68	-0.48	-0.86	EFRMF
LOMLF	0.75	0.01	-0.14		0.44	0.03	0.26	LOMLF
ORGN	0.6	-0.28	0.68	0.44		-0.35	-0.53	ORGN
AVNT	-0.16	0.8	-0.48	0.03	-0.35		0.66	AVNT
APD	-0.04	0.53	-0.86	0.26	-0.53	0.66		APD
	EGO	CC	EFRMF	LOMLF	ORGN	AVNT	APD

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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

AVNT	+ 0.8	CC
LOMLF	+ 0.75	EGO
ORGN	+ 0.68	EFRMF
APD	+ 0.66	AVNT
ORGN	+ 0.6	EGO
APD	+ 0.53	CC

High negative correlations

APD	- 0.86	EFRMF
APD	- 0.53	ORGN
AVNT	- 0.48	EFRMF
EFRMF	- 0.4	CC
AVNT	- 0.35	ORGN
ORGN	- 0.28	CC

Risk-Adjusted Indicators

There is a big difference between NISOURCE Bond performing well and NISOURCE 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 NISOURCE'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
EGO	1.92	(0.18)	0.00	(0.55)	0.00	0.00	3.39	(5.22)	12.12
CC	2.27	0.07	0.05	0.16	2.15	(2.83)	4.67	(3.97)	18.86
EFRMF	0.83	(0.30)	0.00	1.31	0.00	0.00	0.00	0.00	28.57
LOMLF	1.90	(0.12)	0.00	(1.28)	0.00	0.00	4.76	(4.55)	9.76
ORGN	3.11	(0.39)	0.00	(0.07)	0.00	0.00	8.70	(6.99)	26.74
AVNT	1.40	(0.10)	(0.01)	0.06	1.54	(1.50)	2.92	(2.41)	7.68
APD	0.91	0.25	0.18	1.08	0.56	(0.99)	1.90	(1.38)	10.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in NISOURCE 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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