Kenon Holdings Correlations

Stocks . USA . 
Stock . Kenon Holdings
KEN Stock  USD 29.66  0.32  1.09%   
The current 90-days correlation between Kenon Holdings and AGL Energy is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kenon Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kenon Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kenon Holdings Correlation With Market

Modest diversification

The correlation between Kenon Holdings and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kenon Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kenon Holdings. 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.
To learn how to invest in Kenon Stock, please use our How to Invest in Kenon Holdings guide.

Moving together with Kenon Stock

  0.69NRG NRG EnergyPairCorr
  0.87PAM Pampa Energia SAPairCorr
  0.68TAC TransAlta CorpPairCorr
  0.75VST Vistra Energy CorpPairCorr
  0.82AY Atlantica SustainablePairCorr
  0.83NI NiSourcePairCorr
  0.9CDZIP Cadiz Depositary SharesPairCorr
  0.79ELLO Ellomay CapitalPairCorr
  0.68EVRG Evergy,PairCorr
  0.75ADN Advent TechnologiesPairCorr
  0.72AEE Ameren CorpPairCorr
  0.68AGR AvangridPairCorr
  0.83ALE Allete Inc Sell-off TrendPairCorr

Moving against Kenon Stock

  0.75DUKB Duke Energy CorpPairCorr
  0.71ED Consolidated EdisonPairCorr
  0.71FE FirstEnergyPairCorr
  0.7CMS-PC CMS EnergyPairCorr
  0.69ES Eversource EnergyPairCorr
  0.68CMS-PB Consumers EnergyPairCorr
  0.63SO SouthernPairCorr
  0.35D Dominion EnergyPairCorr
  0.35RNWWW ReNew Energy GlobalPairCorr
  0.83AES AESPairCorr
  0.82ELPC Companhia ParanaensePairCorr
  0.74AQN Algonquin Power UtilitiesPairCorr
  0.71AWK American Water WorksPairCorr
  0.66BEP Brookfield RenewablePairCorr
  0.55AEP American Electric PowerPairCorr

Related Correlations Analysis

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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   
NRG
+ 0.84
VST
PAM
+ 0.81
VST
TAC
+ 0.77
PAM
NRG
+ 0.63
PAM
DIPGF
+ 0.62
NRG
DIPGF
+ 0.49
VST
  
High negative correlations   
AGLXY
- 0.74
PAM
AGLXY
- 0.6
VST
AGLXY
- 0.45
TAC
AGLXY
- 0.43
NRG
DIPGF
- 0.38
AGLXY

Risk-Adjusted Indicators

There is a big difference between Kenon Stock performing well and Kenon Holdings 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 Kenon Holdings' 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.

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