NiSource Correlations

NI Stock

USD 36.22 0.25 0.70%

The current 90-days correlation between NiSource and UGI Corporation is 0.24 (i.e., Modest diversification). The correlation of NiSource 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.

NiSource Correlation With Market

Significant diversification

The correlation between NiSource and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiSource 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 NiSource. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in NiSource Stock please use our How to Invest in NiSource guide.

Moving together with NiSource Stock

0.94	ATO	Atmos Energy Fiscal Year End 13th of November 2024	Pair Corr
0.76	BKH	Black Hills	Pair Corr
0.82	CPK	Chesapeake Utilities	Pair Corr
0.73	NJR	NewJersey Resources Earnings Call Next Week	Pair Corr
0.67	NWN	Northwest Natural Gas Earnings Call Tomorrow	Pair Corr
0.86	OGS	One Gas	Pair Corr
0.81	SPH	Suburban Propane Partners	Pair Corr
0.68	SWX	Southwest Gas Holdings	Pair Corr
0.89	BIPC	Brookfield Infrastructure	Pair Corr
0.94	SR-PA	Spire Inc Earnings Call This Week	Pair Corr
0.64	CTRI	Centuri Holdings,	Pair Corr
0.85	D	Dominion Energy	Pair Corr
0.94	AY	Atlantica Sustainable	Pair Corr
0.74	SO	Southern	Pair Corr
0.68	CMS-PB	Consumers Energy	Pair Corr
0.82	CMS-PC	CMS Energy	Pair Corr
0.71	WAVE	Eco Wave Power	Pair Corr
0.82	EVRG	Evergy,	Pair Corr
0.95	AEE	Ameren Corp	Pair Corr

Moving against NiSource Stock

0.89	NFE	New Fortress Energy	Pair Corr
0.78	HE	Hawaiian Electric	Pair Corr
0.66	ELPC	Companhia Paranaense	Pair Corr
0.52	RNWWW	ReNew Energy Global	Pair Corr
0.46	ADN	Advent Technologies Earnings Call Tomorrow	Pair Corr
0.43	AQN	Algonquin Power Utilities	Pair Corr
0.38	ENLT	Enlight Renewable Energy Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NJR	NWN	UGI	SR	CPK	OGS	NIMC	UGIC	ATO	RGCO
NJR		0.81	0.59	0.83	0.92	0.88	-0.6	-0.66	0.71	0.68	NJR
NWN	0.81		0.69	0.61	0.75	0.71	-0.2	-0.56	0.62	0.68	NWN
UGI	0.59	0.69		0.58	0.48	0.59	-0.17	-0.31	0.5	0.34	UGI
SR	0.83	0.61	0.58		0.73	0.68	-0.6	-0.35	0.39	0.5	SR
CPK	0.92	0.75	0.48	0.73		0.93	-0.59	-0.7	0.78	0.71	CPK
OGS	0.88	0.71	0.59	0.68	0.93		-0.61	-0.74	0.89	0.65	OGS
NIMC	-0.6	-0.2	-0.17	-0.6	-0.59	-0.61		0.51	-0.48	-0.28	NIMC
UGIC	-0.66	-0.56	-0.31	-0.35	-0.7	-0.74	0.51		-0.79	-0.34	UGIC
ATO	0.71	0.62	0.5	0.39	0.78	0.89	-0.48	-0.79		0.46	ATO
RGCO	0.68	0.68	0.34	0.5	0.71	0.65	-0.28	-0.34	0.46		RGCO
	NJR	NWN	UGI	SR	CPK	OGS	NIMC	UGIC	ATO	RGCO

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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

OGS	+ 0.93	CPK
CPK	+ 0.92	NJR
ATO	+ 0.89	OGS
OGS	+ 0.88	NJR
SR	+ 0.83	NJR
NWN	+ 0.81	NJR

High negative correlations

ATO	- 0.79	UGIC
UGIC	- 0.74	OGS
UGIC	- 0.7	CPK
UGIC	- 0.66	NJR
NIMC	- 0.61	OGS
NIMC	- 0.6	SR

Risk-Adjusted Indicators

There is a big difference between NiSource Stock performing well and NiSource 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 NiSource'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
NJR	0.71	0.00	(0.07)	0.15	0.65	(0.79)	1.59	(1.26)	4.00
NWN	0.90	(0.05)	(0.04)	0.11	0.94	(0.95)	2.09	(1.64)	5.97
UGI	0.93	(0.06)	(0.10)	0.07	1.01	(1.08)	2.11	(1.88)	4.72
SR	0.84	(0.08)	(0.11)	0.04	1.21	(0.87)	1.89	(1.85)	6.47
CPK	0.96	(0.02)	(0.03)	0.14	0.97	(1.15)	2.09	(1.91)	6.25
OGS	0.82	(0.01)	(0.02)	0.15	0.77	(0.94)	1.82	(1.66)	7.46
NIMC	0.60	(0.03)	(0.19)	(0.07)	0.78	(0.66)	1.07	(1.11)	5.53
UGIC	1.47	(0.26)	0.00	(6.04)	0.00	0.00	2.61	(3.02)	12.21
ATO	0.57	0.15	0.06	0.62	0.32	(0.66)	1.79	(1.04)	3.85
RGCO	1.90	(0.19)	0.03	0.09	2.03	(2.25)	4.57	(5.07)	18.11

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