Brookfield Infrastructure Correlations

BIP Stock

USD 32.89 0.40 1.23%

The current 90-days correlation between Brookfield Infrastructure and The AES is 0.5 (i.e., Very weak diversification). The correlation of Brookfield Infrastructure 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.

Brookfield Infrastructure Correlation With Market

Very poor diversification

The correlation between Brookfield Infrastructure Part and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Infrastructure Part and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Brookfield Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brookfield Infrastructure Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Brookfield Stock

0.79	SRE	Sempra Energy	Pair Corr
0.62	D	Dominion Energy	Pair Corr
0.73	ES	Eversource Energy	Pair Corr
0.63	ENIC	Enel Chile SA	Pair Corr
0.68	ENLT	Enlight Renewable Energy	Pair Corr
0.92	CEG	Constellation Energy Corp	Pair Corr

Moving against Brookfield Stock

0.6	ED	Consolidated Edison	Pair Corr
0.5	AVA	Avista	Pair Corr
0.46	SR	Spire Inc	Pair Corr
0.42	SO	Southern	Pair Corr
0.37	CMS-PB	Consumers Energy	Pair Corr
0.6	AWK	American Water Works	Pair Corr
0.49	CPK	Chesapeake Utilities	Pair Corr
0.48	WTRG	Essential Utilities	Pair Corr
0.48	CWT	California Water Service	Pair Corr
0.46	DUK	Duke Energy	Pair Corr
0.43	EIX	Edison International	Pair Corr
0.39	EXC	Exelon	Pair Corr
0.34	IDA	IDACORP	Pair Corr
0.33	CMS	CMS Energy	Pair Corr
0.31	AWR	American States Water	Pair Corr

Related Correlations Analysis

	ALE	AVA	NWE	AES	BKH	AESC	MNTK	ELP	OTTR
ALE		-0.21	-0.17	0.56	0.26	0.0	0.21	0.19	0.41	ALE
AVA	-0.21		0.94	-0.05	0.5	0.0	-0.75	0.31	-0.14	AVA
NWE	-0.17	0.94		-0.08	0.52	0.0	-0.75	0.48	-0.13	NWE
AES	0.56	-0.05	-0.08		-0.06	0.0	-0.29	0.03	0.47	AES
BKH	0.26	0.5	0.52	-0.06		0.0	-0.04	-0.05	0.42	BKH
AESC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AESC
MNTK	0.21	-0.75	-0.75	-0.29	-0.04	0.0		-0.48	0.24	MNTK
ELP	0.19	0.31	0.48	0.03	-0.05	0.0	-0.48		-0.36	ELP
OTTR	0.41	-0.14	-0.13	0.47	0.42	0.0	0.24	-0.36		OTTR
	ALE	AVA	NWE	AES	BKH	AESC	MNTK	ELP	OTTR

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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

NWE	+ 0.94	AVA
AES	+ 0.56	ALE
BKH	+ 0.52	NWE
BKH	+ 0.5	AVA
ELP	+ 0.48	NWE
OTTR	+ 0.47	AES

High negative correlations

MNTK	- 0.75	NWE
MNTK	- 0.75	AVA
ELP	- 0.48	MNTK
OTTR	- 0.36	ELP
MNTK	- 0.29	AES
AVA	- 0.21	ALE

Risk-Adjusted Indicators

There is a big difference between Brookfield Stock performing well and Brookfield Infrastructure 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 Brookfield Infrastructure'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
ALE	0.27	0.01	0.16	0.06	0.34	(0.27)	0.70	(0.65)	1.75
AVA	1.00	0.13	0.13	0.61	1.19	(1.10)	2.36	(1.91)	8.53
NWE	1.10	0.09	0.09	0.27	1.38	(1.09)	2.03	(2.15)	5.37
AES	2.43	0.43	0.13	0.30	2.92	(2.72)	6.04	(4.65)	21.08
BKH	0.95	0.01	0.03	(0.02)	1.58	(0.85)	2.19	(2.10)	7.84
AESC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MNTK	4.78	(0.77)	0.00	(0.47)	0.00	0.00	7.51	(12.63)	32.50
ELP	1.55	0.42	0.24	1.00	1.52	(1.76)	4.10	(2.16)	10.26
OTTR	1.26	0.05	0.04	0.03	2.02	(1.22)	2.25	(2.46)	12.88

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