UNITIL Correlations

Stocks . USA . 
Stock . UNITIL
UTL Stock  USD 53.63  1.62  3.11%   
The current 90-days correlation between UNITIL and Montauk Renewables is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as UNITIL moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if UNITIL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

UNITIL Correlation With Market

Average diversification

The correlation between UNITIL and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNITIL 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 UNITIL. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
For more information on how to buy UNITIL Stock please use our How to buy in UNITIL Stock guide.

Moving together with UNITIL Stock

  0.81AVA AvistaPairCorr
  0.79BIP Brookfield InfrastructurePairCorr
  0.83CIG Companhia EnergeticaPairCorr
  0.68SRE Sempra EnergyPairCorr
  0.78BIP-PA Brookfield InfrastructurePairCorr
  0.73BIP-PB Brookfield InfrastructurePairCorr
  0.75OTTR Otter TailPairCorr
  0.74D Dominion EnergyPairCorr
  0.78ED Consolidated EdisonPairCorr
  0.79ES Eversource EnergyPairCorr
  0.83FE FirstEnergy Earnings Call This WeekPairCorr
  0.83HE Hawaiian ElectricPairCorr
  0.76SO SouthernPairCorr
  0.66VGAS Verde Clean FuelsPairCorr
  0.68CMS-PB Consumers EnergyPairCorr
  0.75CMS-PC CMS EnergyPairCorr
  0.89WTRG Essential UtilitiesPairCorr
  0.82AQN Algonquin Power Utilities Potential GrowthPairCorr
  0.65ATO Atmos Energy Earnings Call This WeekPairCorr
  0.9AWK American Water WorksPairCorr
  0.93AWR American States WaterPairCorr
  0.78BEP Brookfield Renewable Earnings Call TodayPairCorr

Moving against UNITIL Stock

  0.47ALE Allete IncPairCorr
  0.79ENIC Enel Chile SAPairCorr
  0.72CDZIP Cadiz Depositary SharesPairCorr
  0.57ELLO Ellomay CapitalPairCorr
  0.48ENLT Enlight Renewable EnergyPairCorr
  0.42CEG Constellation Energy CorpPairCorr
  0.35CNP CenterPoint EnergyPairCorr

Related Correlations Analysis

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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   
BKH
+ 0.87
AVA
OTTR
+ 0.69
ELP
OTTR
+ 0.66
AVA
OTTR
+ 0.65
BKH
NWE
+ 0.62
AVA
ELP
+ 0.58
MNTK
  
High negative correlations   
MNTK
- 0.58
ALE
ELP
- 0.4
ALE
OTTR
- 0.18
ALE
ALE
- 0.15
AVA
MNTK
- 0.11
BKH
BKH
- 0.11
ALE

Risk-Adjusted Indicators

There is a big difference between UNITIL Stock performing well and UNITIL 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 UNITIL'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.

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