Eni SPA Correlations

E Stock

USD 26.37 0.05 0.19%

The current 90-days correlation between Eni SpA ADR and TotalEnergies SE ADR is 0.81 (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

Good diversification

The correlation between Eni SpA ADR and DJI is -0.08 (i.e., Good 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.

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

0.76	BP	BP PLC ADR	Pair Corr
0.93	CVE	Cenovus Energy	Pair Corr
0.97	TTE	TotalEnergies SE ADR	Pair Corr
0.68	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.92	SHEL	Shell PLC ADR	Pair Corr
0.86	DINO	HF Sinclair Corp	Pair Corr
0.82	EU	enCore Energy Corp	Pair Corr
0.63	NE	Noble plc Sell-off Trend	Pair Corr
0.64	SD	SandRidge Energy	Pair Corr
0.82	TK	Teekay	Pair Corr

Moving against Eni Stock

0.91	YPF	YPF Sociedad Anonima	Pair Corr
0.86	EE	Excelerate Energy	Pair Corr
0.85	AE	Adams Resources Energy	Pair Corr
0.84	TGS	Transportadora de Gas	Pair Corr
0.84	SLNG	Stabilis Solutions Downward Rally	Pair Corr
0.65	AR	Antero Resources Corp	Pair Corr
0.64	CRGY	Crescent Energy	Pair Corr
0.45	CGBSW	Crown LNG Holdings	Pair Corr
0.33	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.88	EFXT	Enerflex	Pair Corr
0.84	ET	Energy Transfer LP	Pair Corr
0.83	TS	Tenaris SA ADR	Pair Corr
0.8	DLNG	Dynagas LNG Partners	Pair Corr
0.75	EP	Empire Petroleum Corp Upward Rally	Pair Corr
0.74	VIST	Vista Oil Gas	Pair Corr
0.63	NR	Newpark Resources Symbol Change	Pair Corr
0.63	DMLP	Dorchester Minerals	Pair Corr
0.59	NC	NACCO Industries	Pair Corr
0.33	PR	Permian Resources	Pair Corr
0.32	VTLE	Vital Energy	Pair Corr

Related Correlations Analysis

	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS
TTE		0.65	0.85	0.44	0.58	0.8	0.67	0.43	-0.94	-0.9	TTE
EC	0.65		0.5	0.83	0.78	0.88	0.8	0.77	-0.46	-0.51	EC
SHEL	0.85	0.5		0.41	0.5	0.69	0.46	0.48	-0.73	-0.64	SHEL
PBR	0.44	0.83	0.41		0.78	0.68	0.52	0.96	-0.2	-0.23	PBR
EQNR	0.58	0.78	0.5	0.78		0.71	0.53	0.77	-0.39	-0.37	EQNR
BP	0.8	0.88	0.69	0.68	0.71		0.87	0.63	-0.64	-0.69	BP
GLPEY	0.67	0.8	0.46	0.52	0.53	0.87		0.43	-0.59	-0.71	GLPEY
PBR-A	0.43	0.77	0.48	0.96	0.77	0.63	0.43		-0.21	-0.21	PBR-A
YPF	-0.94	-0.46	-0.73	-0.2	-0.39	-0.64	-0.59	-0.21		0.97	YPF
TGS	-0.9	-0.51	-0.64	-0.23	-0.37	-0.69	-0.71	-0.21	0.97		TGS
	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS

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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

TGS	+ 0.97	YPF
PBR-A	+ 0.96	PBR
BP	+ 0.88	EC
GLPEY	+ 0.87	BP
SHEL	+ 0.85	TTE
PBR	+ 0.83	EC

High negative correlations

YPF	- 0.94	TTE
TGS	- 0.9	TTE
YPF	- 0.73	SHEL
TGS	- 0.71	GLPEY
TGS	- 0.69	BP
YPF	- 0.64	BP

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	1.04	(0.35)	0.00	5.14	0.00	0.00	1.45	(2.60)	7.40
EC	1.41	(0.27)	0.00	(1.17)	0.00	0.00	2.97	(3.79)	8.31
SHEL	0.94	(0.19)	0.00	46.30	0.00	0.00	1.46	(2.25)	5.88
PBR	1.30	(0.12)	0.00	(0.29)	0.00	0.00	2.32	(2.73)	10.32
EQNR	1.68	(0.11)	0.00	0.65	0.00	0.00	3.30	(3.69)	8.46
BP	1.22	(0.18)	0.00	(0.79)	0.00	0.00	1.70	(3.44)	8.28
GLPEY	1.16	(0.14)	0.00	0.58	0.00	0.00	1.86	(2.68)	7.62
PBR-A	1.33	(0.15)	0.00	(0.37)	0.00	0.00	2.26	(2.93)	9.33
YPF	2.12	0.84	0.37	1.07	1.67	(2.61)	6.08	(3.26)	14.98
TGS	2.18	0.44	0.17	2.36	2.10	(2.35)	6.03	(3.50)	12.04

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