Edison International Correlations
| EIX Stock | EUR 49.09 1.91 3.75% |
The current 90-days correlation between Edison International and Apple Inc is -0.09 (i.e., Good diversification). The correlation of Edison International 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.
Edison International Correlation With Market
Significant diversification
The correlation between Edison International and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edison International and DJI in the same portfolio, assuming nothing else is changed.
Edison |
The ability to find closely correlated positions to Edison International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edison International when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Edison International - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Edison International to buy it.
Moving against Edison Stock
| 0.7 | W8V | BANK OF CHINA | PairCorr |
| 0.54 | FUJ1 | Fujitsu Limited | PairCorr |
| 0.52 | 3CA | Plejd AB | PairCorr |
| 0.81 | 4OY | FORSEE POWEREO 10 | PairCorr |
| 0.46 | BSN | Danone SA | PairCorr |
| 0.45 | SQU | Vinci S A | PairCorr |
| 0.44 | SNQB | Sanoma Oyj | PairCorr |
| 0.44 | KMY | Kimberly Clark | PairCorr |
| 0.42 | 71BB | BILIBILI INC DL | PairCorr |
| 0.4 | RLG | COSTAR GROUP INC | PairCorr |
| 0.4 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.32 | D4R | ROMIOS GOLD RES | PairCorr |
| 0.31 | 54M | Motorcar Parts | PairCorr |
| 0.72 | TM5 | T Mobile | PairCorr |
| 0.63 | ELPA | Companhia Paranaense | PairCorr |
| 0.62 | PUS | PULSION Medical Systems | PairCorr |
| 0.54 | PGW | Liberty Gold Corp | PairCorr |
| 0.54 | LI3 | Lisi SA | PairCorr |
| 0.47 | FJG | ELECTRIC POWER DEVL | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Edison Stock performing well and Edison International 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 Edison International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APC | 1.86 | (0.35) | 0.00 | (0.42) | 0.00 | 2.62 | 15.31 | |||
| APC | 2.10 | (0.26) | 0.00 | (0.27) | 0.00 | 2.36 | 15.31 | |||
| APC | 1.91 | (0.34) | 0.00 | (0.42) | 0.00 | 2.40 | 15.32 | |||
| APC | 1.98 | (0.31) | 0.00 | (0.33) | 0.00 | 2.99 | 16.10 | |||
| APC | 2.13 | (0.30) | 0.00 | (0.30) | 0.00 | 3.85 | 14.89 | |||
| APC | 2.00 | (0.26) | 0.00 | (0.27) | 0.00 | 2.73 | 15.79 | |||
| MSF | 1.35 | (0.23) | 0.00 | (0.45) | 0.00 | 2.84 | 10.50 | |||
| MSF | 1.47 | (0.18) | 0.00 | (0.29) | 0.00 | 3.16 | 10.90 | |||
| MSF | 1.45 | (0.18) | 0.00 | (0.30) | 0.00 | 3.29 | 10.42 | |||
| MSF | 1.50 | (0.21) | 0.00 | (0.37) | 0.00 | 2.37 | 12.60 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Edison International without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Stocks Directory Now
Stocks DirectoryFind actively traded stocks across global markets |
| All Next | Launch Module |