Eni SPA Correlations

E Stock

USD 28.87 0.17 0.59%

The current 90-days correlation between Eni SpA ADR and TotalEnergies SE ADR is 0.89 (i.e., Very poor diversification). The correlation of Eni SPA 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.

Eni SPA Correlation With Market

Poor diversification

The correlation between Eni SpA ADR and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eni SpA ADR and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eni SpA ADR. 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 Eni Stock

0.78	BP	BP PLC ADR Earnings Call Shortly	Pair Corr
0.68	EC	Ecopetrol SA ADR Earnings Call Shortly	Pair Corr
0.79	EQNR	Equinor ASA ADR Earnings Call Shortly	Pair Corr
0.79	CVX	Chevron Corp Earnings Call Shortly	Pair Corr
0.8	IMO	Imperial Oil Earnings Call Shortly	Pair Corr
0.97	TTE	TotalEnergies SE ADR Earnings Call Shortly	Pair Corr
0.88	XOM	Exxon Mobil Corp Earnings Call Shortly	Pair Corr
0.89	SHEL	Shell PLC ADR Earnings Call Shortly	Pair Corr
0.79	AM	Antero Midstream Partners	Pair Corr
0.68	AR	Antero Resources Corp	Pair Corr
0.67	TS	Tenaris SA ADR	Pair Corr

Related Correlations Analysis

	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS
TTE		0.66	0.87	0.56	0.77	0.8	0.55	0.57	0.3	0.31	TTE
EC	0.66		0.73	0.5	0.43	0.63	0.25	0.52	0.02	0.01	EC
SHEL	0.87	0.73		0.62	0.78	0.72	0.66	0.61	0.25	0.18	SHEL
PBR	0.56	0.5	0.62		0.46	0.84	0.78	1.0	0.77	0.48	PBR
EQNR	0.77	0.43	0.78	0.46		0.52	0.5	0.46	0.25	0.31	EQNR
BP	0.8	0.63	0.72	0.84	0.52		0.67	0.86	0.58	0.36	BP
GLPEY	0.55	0.25	0.66	0.78	0.5	0.67		0.74	0.7	0.43	GLPEY
PBR-A	0.57	0.52	0.61	1.0	0.46	0.86	0.74		0.74	0.45	PBR-A
YPF	0.3	0.02	0.25	0.77	0.25	0.58	0.7	0.74		0.83	YPF
TGS	0.31	0.01	0.18	0.48	0.31	0.36	0.43	0.45	0.83		TGS
	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS

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Risk-Adjusted Indicators

There is a big difference between Eni Stock performing well and Eni SPA 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 Eni SPA'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
TTE	1.23	0.18	0.10	0.08	1.91	(1.23)	2.59	(3.65)	10.05
EC	2.32	0.23	0.13	(0.72)	2.98	(2.54)	6.09	(5.76)	18.00
SHEL	1.32	(0.01)	0.07	(0.11)	2.37	(1.21)	2.23	(4.06)	13.36
PBR	1.62	(0.09)	0.00	(0.26)	0.00	0.00	3.55	(5.64)	14.03
EQNR	1.72	0.08	0.00	(0.05)	0.00	0.00	4.09	(4.78)	12.39
BP	1.57	0.08	0.00	(0.07)	0.00	0.00	2.81	(4.26)	16.11
GLPEY	1.63	(0.13)	0.00	3.31	0.00	0.00	2.55	(3.66)	16.46
PBR-A	1.55	(0.06)	0.00	(0.22)	0.00	0.00	2.75	(4.74)	14.05
YPF	2.89	(0.15)	0.00	(0.25)	0.00	0.00	6.27	(5.49)	16.85
TGS	3.14	0.12	0.00	(0.07)	0.00	0.00	9.02	(5.80)	17.71

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Eni SPA Correlations

Eni SPA Correlation With Market

Poor diversification

Moving together with Eni Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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