AXIA Energia Correlations

AXIA Stock

10.60 0.09 0.84%

The current 90-days correlation between AXIA Energia and Fortis Inc is -0.02 (i.e., Good diversification). The correlation of AXIA Energia 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.

AXIA Energia Correlation With Market

Modest diversification

The correlation between AXIA Energia and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXIA Energia and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AXIA Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AXIA Energia. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For information on how to trade AXIA Stock refer to our How to Trade AXIA Stock guide.

Moving together with AXIA Stock

0.62	SHG	Shinhan Financial	Pair Corr
0.62	KB	KB Financial Group	Pair Corr
0.7	EC	Ecopetrol SA ADR	Pair Corr
0.61	MUFG	Mitsubishi UFJ Financial	Pair Corr

Moving against AXIA Stock

0.39	TLN	Talen Energy	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.37	JPM	JPMorgan Chase	Pair Corr
0.34	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	FTS	CMS	SO	FE	KEP	DTE	AEE	AWK	EIX
FTS		0.16	0.05	0.59	0.69	0.4	0.54	0.28	0.75	FTS
CMS	0.16		0.78	0.69	-0.11	0.8	0.81	-0.04	-0.33	CMS
SO	0.05	0.78		0.62	-0.09	0.75	0.75	-0.21	-0.27	SO
FE	0.59	0.69	0.62		0.56	0.86	0.92	0.0	0.28	FE
KEP	0.69	-0.11	-0.09	0.56		0.33	0.35	0.09	0.7	KEP
DTE	0.4	0.8	0.75	0.86	0.33		0.93	-0.04	0.09	DTE
AEE	0.54	0.81	0.75	0.92	0.35	0.93		0.03	0.2	AEE
AWK	0.28	-0.04	-0.21	0.0	0.09	-0.04	0.03		0.33	AWK
EIX	0.75	-0.33	-0.27	0.28	0.7	0.09	0.2	0.33		EIX
	FTS	CMS	SO	FE	KEP	DTE	AEE	AWK	EIX

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

AEE	+ 0.93	DTE
AEE	+ 0.92	FE
DTE	+ 0.86	FE
AEE	+ 0.81	CMS
DTE	+ 0.8	CMS
SO	+ 0.78	CMS

High negative correlations

EIX	- 0.33	CMS
EIX	- 0.27	SO
AWK	- 0.21	SO
KEP	- 0.11	CMS
KEP	- 0.09	SO
AWK	- 0.04	DTE

Risk-Adjusted Indicators

There is a big difference between AXIA Stock performing well and AXIA Energia 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 AXIA Energia'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
FTS	0.62	0.12	0.10	(3.53)	0.49	(0.77)	1.35	(0.96)	2.88
CMS	0.74	(0.07)	0.00	(0.20)	0.00	0.00	1.17	(1.44)	5.00
SO	0.73	(0.09)	0.00	(0.47)	0.00	0.00	1.06	(1.81)	4.07
FE	0.67	0.06	0.01	(1.72)	0.91	(0.64)	1.35	(1.30)	4.05
KEP	2.36	0.63	0.23	(2.63)	2.08	(2.69)	6.12	(3.35)	18.59
DTE	0.72	(0.02)	(0.05)	(0.01)	1.15	(0.60)	1.32	(1.55)	4.73
AEE	0.71	0.02	(0.02)	0.16	0.98	(0.68)	1.09	(1.45)	5.74
AWK	0.99	(0.02)	(0.05)	(0.06)	1.25	(1.01)	1.95	(2.09)	6.26
EIX	1.07	0.19	0.10	0.43	1.39	(1.10)	1.97	(1.80)	6.38

AXIA Energia Corporate Management

Renato Carreira	EVP Services	Profile
Marcelo Freitas	Executive Board	Profile
Antonio Godoy	Executive Board	Profile
Elio Wolff	Executive Board	Profile
Camila Araujo	Risks, Governance	Profile
Rodrigo Nascimento	Inst, Regulation	Profile

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