Essential Utilities Correlations

WTRG Stock

USD 39.27 0.05 0.13%

The current 90-days correlation between Essential Utilities and Pinnacle West Capital is 0.31 (i.e., Weak diversification). The correlation of Essential Utilities 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.

Essential Utilities Correlation With Market

Very good diversification

The correlation between Essential Utilities and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Essential Utilities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Essential Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Essential Utilities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more detail on how to invest in Essential Stock please use our How to Invest in Essential Utilities guide.

Moving together with Essential Stock

0.71	AWR	American States Water	Pair Corr
0.8	CWT	California Water Service	Pair Corr
0.67	CMSA	CMS Energy Corp	Pair Corr

Moving against Essential Stock

0.39	000598	Chengdu Xingrong Inv	Pair Corr
0.57	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	PNW	AES	OGE	SBS	EMA	UGI	CWT	BIP	AWR	IDA
PNW		0.34	0.29	0.02	0.65	0.16	0.4	-0.07	0.52	0.83	PNW
AES	0.34		-0.08	0.05	0.49	0.15	0.03	-0.05	0.09	0.37	AES
OGE	0.29	-0.08		0.23	-0.06	-0.58	0.86	-0.01	0.42	0.62	OGE
SBS	0.02	0.05	0.23		0.03	0.13	-0.01	0.52	-0.11	0.0	SBS
EMA	0.65	0.49	-0.06	0.03		0.41	-0.03	-0.01	0.25	0.47	EMA
UGI	0.16	0.15	-0.58	0.13	0.41		-0.63	0.44	-0.09	-0.18	UGI
CWT	0.4	0.03	0.86	-0.01	-0.03	-0.63		-0.25	0.65	0.71	CWT
BIP	-0.07	-0.05	-0.01	0.52	-0.01	0.44	-0.25		-0.07	-0.17	BIP
AWR	0.52	0.09	0.42	-0.11	0.25	-0.09	0.65	-0.07		0.61	AWR
IDA	0.83	0.37	0.62	0.0	0.47	-0.18	0.71	-0.17	0.61		IDA
	PNW	AES	OGE	SBS	EMA	UGI	CWT	BIP	AWR	IDA

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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

CWT	+ 0.86	OGE
IDA	+ 0.83	PNW
IDA	+ 0.71	CWT
EMA	+ 0.65	PNW
AWR	+ 0.65	CWT
IDA	+ 0.62	OGE

High negative correlations

CWT	- 0.63	UGI
UGI	- 0.58	OGE
BIP	- 0.25	CWT
IDA	- 0.18	UGI
IDA	- 0.17	BIP
AWR	- 0.11	SBS

Risk-Adjusted Indicators

There is a big difference between Essential Stock performing well and Essential Utilities 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 Essential Utilities' 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
PNW	0.74	0.04	(0.03)	0.57	0.84	(0.77)	1.77	(1.41)	4.17
AES	1.36	0.01	0.01	0.08	1.47	(1.50)	3.14	(2.47)	8.82
OGE	0.71	(0.11)	0.00	(0.77)	0.00	0.00	1.30	(1.77)	3.57
SBS	1.52	0.18	0.07	0.45	1.93	(1.74)	3.76	(4.23)	10.23
EMA	0.62	0.06	(0.04)	(0.11)	0.78	(0.63)	1.35	(1.21)	4.23
UGI	0.83	0.25	0.21	0.57	0.68	(1.00)	2.42	(1.16)	10.28
CWT	1.10	(0.18)	0.00	(0.44)	0.00	0.00	2.22	(2.85)	7.55
BIP	0.82	0.03	(0.03)	0.63	1.05	(0.82)	1.58	(1.59)	5.53
AWR	0.79	(0.08)	0.00	(0.16)	0.00	0.00	1.53	(1.87)	5.99
IDA	0.78	(0.05)	0.00	(0.04)	0.00	0.00	1.42	(1.60)	4.65

Essential Utilities Corporate Management

Elizabeth Amato	Independent Director	Profile
Christina Kelly	Senior Officer	Profile
Whitney Kellett	Senior Officer	Profile
Ellen Ruff	Independent Director	Profile
Matthew Rhodes	Executive Vice President - Strategy and Corporate Development	Profile

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