Constellation Energy Correlations

CEG Stock

USD 222.99 4.92 2.26%

The correlation of Constellation 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.

Constellation Energy Correlation With Market

Significant diversification

The correlation between Constellation Energy Corp and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellation Energy Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Constellation Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Constellation Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Constellation Stock

0.85	RNWWW	ReNew Energy Global	Pair Corr
0.84	WAVE	Eco Wave Power	Pair Corr
0.78	FLNC	Fluence Energy	Pair Corr
0.84	RNW	Renew Energy Global	Pair Corr
0.7	BEP-PA	Brookfield Renewable Earnings Call Shortly	Pair Corr
0.91	HTOO	Fusion Fuel Green	Pair Corr
0.9	NRGV	Energy Vault Holdings	Pair Corr
0.77	HTOOW	Fusion Fuel Green	Pair Corr
0.83	ALCE	Alternus Energy Group	Pair Corr
0.89	STEM	Stem Inc	Pair Corr
0.79	VG	Venture Global,	Pair Corr
0.74	CMS-PC	CMS Energy	Pair Corr

Moving against Constellation Stock

0.91	ED	Consolidated Edison Earnings Call Shortly	Pair Corr
0.8	EBR	Centrais Electricas Earnings Call Shortly	Pair Corr
0.8	ORA	Ormat Technologies	Pair Corr
0.8	CWEN	Clearway Energy Class	Pair Corr
0.79	AMPS	Altus Power	Pair Corr
0.78	SR	Spire Inc Earnings Call Shortly	Pair Corr
0.77	SO	Southern Earnings Call Shortly	Pair Corr
0.45	HE	Hawaiian Electric	Pair Corr
0.33	BEPC	Brookfield Renewable Corp Earnings Call Shortly	Pair Corr
0.95	AWK	American Water Works Earnings Call Shortly	Pair Corr
0.92	WTRG	Essential Utilities Earnings Call Shortly	Pair Corr
0.9	AVA	Avista Earnings Call Shortly	Pair Corr
0.84	DUK	Duke Energy Earnings Call Shortly	Pair Corr
0.82	CNP	CenterPoint Energy	Pair Corr
0.81	AWR	American States Water Earnings Call Shortly	Pair Corr
0.8	CWT	California Water Service	Pair Corr
0.78	EXC	Exelon Earnings Call Shortly	Pair Corr

Related Correlations Analysis

	AY	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU
AY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AY
CWEN-A	0.0		0.69	-0.12	0.58	0.94	0.76	0.0	CWEN-A
BEPC	0.0	0.69		-0.19	0.83	0.7	0.63	0.0	BEPC
NEP	0.0	-0.12	-0.19		-0.23	-0.13	-0.5	0.0	NEP
BEP	0.0	0.58	0.83	-0.23		0.45	0.43	0.0	BEP
CWEN	0.0	0.94	0.7	-0.13	0.45		0.81	0.0	CWEN
AQN	0.0	0.76	0.63	-0.5	0.43	0.81		0.0	AQN
AQNU	0.0	0.0	0.0	0.0	0.0	0.0	0.0		AQNU
	AY	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU

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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

CWEN	+ 0.94	CWEN-A
BEP	+ 0.83	BEPC
AQN	+ 0.81	CWEN
AQN	+ 0.76	CWEN-A
CWEN	+ 0.7	BEPC
BEPC	+ 0.69	CWEN-A

High negative correlations

AQN	- 0.5	NEP
BEP	- 0.23	NEP
NEP	- 0.19	BEPC
CWEN	- 0.13	NEP
NEP	- 0.12	CWEN-A
AQNU	- 0.0	AQN

Risk-Adjusted Indicators

There is a big difference between Constellation Stock performing well and Constellation 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 Constellation 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CWEN-A	1.33	0.36	0.15	0.33	2.18	(1.34)	3.20	(2.60)	13.17
BEPC	1.84	0.18	0.14	(0.64)	2.53	(1.93)	2.90	(3.46)	14.16
NEP	2.80	(0.89)	0.00	9.76	0.00	0.00	4.13	(6.77)	37.72
BEP	1.64	0.33	0.15	0.26	2.13	(1.76)	2.91	(3.46)	14.21
CWEN	1.35	0.22	0.17	(0.74)	2.27	(1.42)	3.18	(2.60)	12.49
AQN	1.51	0.27	0.21	(1.08)	1.85	(1.55)	3.28	(3.09)	10.46
AQNU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Constellation Energy Corporate Management

Arden Phillips	Corporate Secretary	Profile
Phillip Barnett	VP Company	Profile
Susie Kutansky	Executive Officer	Profile
Michael Koehler	Executive Officer	Profile
Matthew Price	Executive Counsel	Profile

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