Via Renewables Correlations

VIASP Preferred Stock

USD 25.30 0.15 0.59%

The current 90-days correlation between Via Renewables and OPAL Fuels is -0.1 (i.e., Good diversification). The correlation of Via Renewables 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.

Via Renewables Correlation With Market

Good diversification

The correlation between Via Renewables 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 Via Renewables and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Via Preferred Stock

0.62	HSBC	HSBC Holdings PLC	Pair Corr
0.63	RITM-PA	Rithm Capital Corp	Pair Corr

Moving against Via Preferred Stock

0.59	XEL	Xcel Energy	Pair Corr
0.58	EXC	Exelon	Pair Corr
0.53	DUK	Duke Energy	Pair Corr
0.44	D	Dominion Energy	Pair Corr
0.34	SO	Southern	Pair Corr
0.38	LADX	LadRx	Pair Corr
0.32	TMQ	Trilogy Metals	Pair Corr

Related Correlations Analysis

	OPAL	SUUN	VGAS	ENO	EMP	WAVE	GPJA	RAIN	RGCO
OPAL		0.49	-0.12	0.24	0.28	0.12	0.23	0.28	0.01	OPAL
SUUN	0.49		-0.03	0.43	0.35	0.33	0.4	-0.08	-0.32	SUUN
VGAS	-0.12	-0.03		0.52	0.69	0.73	0.58	-0.28	-0.4	VGAS
ENO	0.24	0.43	0.52		0.91	0.61	0.83	-0.06	-0.36	ENO
EMP	0.28	0.35	0.69	0.91		0.78	0.88	-0.12	-0.39	EMP
WAVE	0.12	0.33	0.73	0.61	0.78		0.65	-0.44	-0.49	WAVE
GPJA	0.23	0.4	0.58	0.83	0.88	0.65		-0.18	-0.5	GPJA
RAIN	0.28	-0.08	-0.28	-0.06	-0.12	-0.44	-0.18		0.4	RAIN
RGCO	0.01	-0.32	-0.4	-0.36	-0.39	-0.49	-0.5	0.4		RGCO
	OPAL	SUUN	VGAS	ENO	EMP	WAVE	GPJA	RAIN	RGCO

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

EMP	+ 0.91	ENO
GPJA	+ 0.88	EMP
GPJA	+ 0.83	ENO
WAVE	+ 0.78	EMP
WAVE	+ 0.73	VGAS
EMP	+ 0.69	VGAS

High negative correlations

RGCO	- 0.5	GPJA
RGCO	- 0.49	WAVE
RAIN	- 0.44	WAVE
RGCO	- 0.4	VGAS
RGCO	- 0.39	EMP
RGCO	- 0.36	ENO

Risk-Adjusted Indicators

There is a big difference between Via Preferred Stock performing well and Via Renewables 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 Via Renewables' 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
OPAL	4.17	0.01	(0.01)	0.10	5.14	(4.58)	9.09	(10.04)	23.34
SUUN	4.30	0.02	0.00	0.06	0.00	0.00	9.70	(8.90)	28.23
VGAS	3.01	(0.59)	0.00	(0.62)	0.00	0.00	4.72	(8.24)	20.85
ENO	0.48	(0.03)	0.00	0.78	0.00	0.00	0.94	(1.15)	3.40
EMP	0.36	(0.08)	0.00	(1.05)	0.00	0.00	0.63	(0.72)	2.98
WAVE	2.59	(0.48)	0.00	3.07	0.00	0.00	6.06	(5.98)	16.43
GPJA	0.41	(0.03)	0.00	0.78	0.00	0.00	0.85	(0.92)	2.31
RAIN	5.71	(0.12)	0.00	(0.06)	0.00	0.00	12.96	(14.38)	48.65
RGCO	1.22	0.00	0.00	0.07	0.00	0.00	2.57	(2.08)	9.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Via Renewables 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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Via Renewables Corporate Management

William III	CEO Pres	Profile
Stephen Rabalais	Director Relations	Profile
Michael Kuznar	Head Market	Profile
Paul Konikowski	Chief Officer	Profile
Barbara Clay	Acting Sec	Profile
Mike Barajas	CFO Officer	Profile

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