Eversource Energy Correlations

ES Stock

USD 57.98 0.50 0.85%

The current 90-days correlation between Eversource Energy and CenterPoint Energy is 0.73 (i.e., Poor diversification). The correlation of Eversource 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Eversource Energy Correlation With Market

Very weak diversification

The correlation between Eversource Energy and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eversource Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eversource Stock

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

For more information on how to buy Eversource Stock please use our How to Invest in Eversource Energy guide.

Moving together with Eversource Stock

0.8	D	Dominion Energy	Pair Corr
0.8	HE	Hawaiian Electric	Pair Corr
0.64	SO	Southern Sell-off Trend	Pair Corr
0.7	MGEE	MGE Energy	Pair Corr
0.83	ENIC	Enel Chile SA	Pair Corr
0.68	EVRG	Evergy,	Pair Corr
0.72	AEE	Ameren Corp	Pair Corr
0.72	AEP	American Electric Power	Pair Corr
0.67	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.69	DTE	DTE Energy Earnings Call This Week	Pair Corr
0.74	ETR	Entergy Earnings Call This Week	Pair Corr
0.8	LNT	Alliant Energy Corp	Pair Corr
0.7	OGE	OGE Energy	Pair Corr

Moving against Eversource Stock

0.45	VSTE	Vast Renewables	Pair Corr
0.35	VSTEW	Vast Renewables	Pair Corr

Related Correlations Analysis

	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL
CNP		0.21	0.87	0.21	-0.37	0.89	0.69	0.73	0.87	0.81	CNP
FE	0.21		0.34	-0.29	0.21	0.25	0.33	0.35	0.27	0.43	FE
PNW	0.87	0.34		-0.04	-0.39	0.96	0.92	0.95	0.96	0.94	PNW
EIX	0.21	-0.29	-0.04		0.29	0.11	-0.05	-0.17	0.06	-0.06	EIX
PEG	-0.37	0.21	-0.39	0.29		-0.36	-0.32	-0.29	-0.44	-0.26	PEG
DTE	0.89	0.25	0.96	0.11	-0.36		0.9	0.87	0.97	0.88	DTE
LNT	0.69	0.33	0.92	-0.05	-0.32	0.9		0.94	0.92	0.91	LNT
AEE	0.73	0.35	0.95	-0.17	-0.29	0.87	0.94		0.89	0.94	AEE
CMS	0.87	0.27	0.96	0.06	-0.44	0.97	0.92	0.89		0.88	CMS
XEL	0.81	0.43	0.94	-0.06	-0.26	0.88	0.91	0.94	0.88		XEL
	CNP	FE	PNW	EIX	PEG	DTE	LNT	AEE	CMS	XEL

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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

CMS	+ 0.97	DTE
DTE	+ 0.96	PNW
CMS	+ 0.96	PNW
AEE	+ 0.95	PNW
XEL	+ 0.94	PNW
AEE	+ 0.94	LNT

High negative correlations

CMS	- 0.44	PEG
PEG	- 0.39	PNW
PEG	- 0.37	CNP
DTE	- 0.36	PEG
LNT	- 0.32	PEG
AEE	- 0.29	PEG

Risk-Adjusted Indicators

There is a big difference between Eversource Stock performing well and Eversource 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 Eversource 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
CNP	0.89	0.29	0.27	0.91	0.87	(1.01)	2.51	(1.74)	6.36
FE	1.32	0.13	0.07	0.56	2.32	(1.27)	2.43	(2.40)	14.76
PNW	0.98	0.25	0.20	0.58	1.16	(1.03)	2.03	(1.70)	6.73
EIX	1.95	(0.11)	0.00	(0.21)	0.00	0.00	3.68	(3.13)	12.28
PEG	1.10	0.04	0.03	0.01	1.92	(1.11)	2.55	(2.69)	9.34
DTE	0.99	0.20	0.14	0.43	1.45	(0.97)	2.21	(2.58)	8.43
LNT	0.96	0.16	0.11	0.36	1.45	(0.94)	2.09	(2.53)	8.12
AEE	0.97	0.21	0.14	0.49	1.43	(0.96)	2.10	(1.65)	8.80
CMS	0.98	0.19	0.15	0.81	1.30	(0.97)	2.01	(2.41)	5.85
XEL	1.00	0.19	0.14	0.44	1.47	(1.05)	1.97	(1.86)	8.31

Eversource Energy Corporate Executives

Elected by the shareholders, the Eversource Energy's board of directors comprises two types of representatives: Eversource Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eversource. The board's role is to monitor Eversource Energy's management team and ensure that shareholders' interests are well served. Eversource Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eversource Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Paul III

Executive COO

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