WEC Energy Correlations

WIC Stock  EUR 91.40  0.18  0.20%   
The current 90-days correlation between WEC Energy Group and RELIANCE STEEL AL is 0.25 (i.e., Modest diversification). The correlation of WEC Energy 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.

WEC Energy Correlation With Market

Significant diversification

The correlation between WEC Energy Group and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WEC Energy Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to WEC Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WEC Energy 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 WEC Energy - 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 WEC Energy Group to buy it.

Moving together with WEC Stock

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  0.9C3TA CENTRAL PUERTO ADR1PairCorr
  0.95BRYN Berkshire HathawayPairCorr
  0.94BRYN Berkshire HathawayPairCorr
  0.73KBIA KB Financial GroupPairCorr
  0.77SAP SAP SEPairCorr
  0.65E6Q GOLD ROAD RESPairCorr
  0.91BN9 The BankPairCorr
  0.64BAC Verizon CommunicationsPairCorr
  0.828II PLAYTIKA HOLDINGPairCorr

Moving against WEC Stock

  0.75SSU Samsung ElectronicsPairCorr
  0.65HYU Hyundai MotorPairCorr
  0.64SSUN Samsung ElectronicsPairCorr
  0.56BRH Berkshire HathawayPairCorr
  0.495JT INNOVATEC SPAPairCorr
  0.83PKX POSCO HoldingsPairCorr
  0.42DBPD Xtrackers ShortDAXPairCorr
  0.34C4X Onxeo SAPairCorr

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   
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High negative correlations   
MR3NPS
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CPU29ZY
CPU2RS6
TIANPS

Risk-Adjusted Indicators

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

Be your own money manager

Our tools can tell you how much better you can do entering a position in WEC Energy 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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WEC Energy Corporate Management

Elected by the shareholders, the WEC Energy's board of directors comprises two types of representatives: WEC Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of WEC. The board's role is to monitor WEC Energy's management team and ensure that shareholders' interests are well served. WEC Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, WEC Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.