Algonquin Power Correlations
| AQNB Stock | USD 25.30 0.05 0.20% |
The correlation of Algonquin Power 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.
Algonquin Power Correlation With Market
Weak diversification
The correlation between Algonquin Power Utilities and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Algonquin Power Utilities and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Algonquin Stock
| 0.66 | DTW | DTE Energy | PairCorr |
| 0.72 | ES | Eversource Energy | PairCorr |
| 0.7 | ENLT | Enlight Renewable Energy | PairCorr |
| 0.81 | BEP | Brookfield Renewable | PairCorr |
| 0.65 | BIP | Brookfield Infrastructure | PairCorr |
| 0.62 | CEG | Constellation Energy Corp | PairCorr |
Moving against Algonquin Stock
| 0.64 | ED | Consolidated Edison | PairCorr |
| 0.57 | WTRG | Essential Utilities | PairCorr |
| 0.4 | AEP | American Electric Power | PairCorr |
| 0.35 | SR | Spire Inc | PairCorr |
| 0.74 | EXC | Exelon | PairCorr |
| 0.72 | CWT | California Water Service | PairCorr |
| 0.71 | AVA | Avista | PairCorr |
| 0.71 | CPK | Chesapeake Utilities | PairCorr |
| 0.49 | AWK | American Water Works | PairCorr |
| 0.43 | DUK | Duke Energy | PairCorr |
| 0.38 | CMS | CMS Energy | PairCorr |
| 0.38 | EIX | Edison International | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Algonquin Stock performing well and Algonquin Power 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 Algonquin Power'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AQNA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CMSD | 0.49 | (0.06) | 0.00 | (0.37) | 0.00 | 0.89 | 4.09 | |||
| AFGB | 0.47 | (0.08) | 0.00 | (0.31) | 0.00 | 0.78 | 4.25 | |||
| ARGD | 0.70 | (0.10) | 0.00 | (0.27) | 0.00 | 1.29 | 4.78 | |||
| AEFC | 0.67 | (0.04) | 0.00 | (0.16) | 0.00 | 1.63 | 4.75 |
Algonquin Power Corporate Management
| David Laney | Independent Director | Profile | |
| George Trisic | Chief Governance Officer, Corporate Secretary | Profile | |
| Dilek Samil | Independent Director | Profile | |
| Jennifer Tindale | Chief Legal Officer | Profile | |
| Mary Paravalos | Chief Compliance and Risk Officer | Profile |