Spire Correlations

SR Stock

USD 73.41 0.16 0.22%

The current 90-days correlation between Spire Inc and Nexstar Broadcasting Group is 0.15 (i.e., Average diversification). The correlation of Spire 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.

Spire Correlation With Market

Weak diversification

The correlation between Spire Inc and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spire Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Spire Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Spire Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Spire Stock

0.8	BKH	Black Hills	Pair Corr
0.84	CPK	Chesapeake Utilities	Pair Corr
0.86	NJR	NewJersey Resources	Pair Corr
0.78	NWN	Northwest Natural Gas	Pair Corr
0.7	OGS	One Gas	Pair Corr
0.8	SPH	Suburban Propane Partners	Pair Corr
0.82	ED	Consolidated Edison	Pair Corr
0.63	SO	Southern	Pair Corr
0.73	WTRG	Essential Utilities	Pair Corr
0.85	AEE	Ameren Corp	Pair Corr
0.91	AEP	American Electric Power	Pair Corr

Moving against Spire Stock

0.59	CTRI	Centuri Holdings,	Pair Corr
0.57	OPAL	OPAL Fuels	Pair Corr
0.54	BIPC	Brookfield Infrastructure	Pair Corr
0.52	UGI	UGI Corporation	Pair Corr
0.5	VG	Venture Global,	Pair Corr
0.44	ES	Eversource Energy Sell-off Trend	Pair Corr
0.67	CEG	Constellation Energy Corp	Pair Corr
0.64	ELPC	Companhia Paranaense	Pair Corr
0.59	BIP	Brookfield Infrastructure	Pair Corr
0.56	ENLT	Enlight Renewable Energy	Pair Corr
0.55	ENIC	Enel Chile SA	Pair Corr
0.53	BEP	Brookfield Renewable	Pair Corr
0.45	AQN	Algonquin Power Utilities	Pair Corr
0.35	RNWWW	ReNew Energy Global	Pair Corr

Related Correlations Analysis

	WHWRF	SPHR	NXST	TKR	TTC	PRKS	SPB	PG
WHWRF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	WHWRF
SPHR	0.0		0.83	0.92	0.66	0.36	-0.49	-0.15	SPHR
NXST	0.0	0.83		0.78	0.66	0.54	-0.16	0.17	NXST
TKR	0.0	0.92	0.78		0.74	0.49	-0.26	-0.16	TKR
TTC	0.0	0.66	0.66	0.74		0.69	0.12	0.19	TTC
PRKS	0.0	0.36	0.54	0.49	0.69		0.35	0.13	PRKS
SPB	0.0	-0.49	-0.16	-0.26	0.12	0.35		0.29	SPB
PG	0.0	-0.15	0.17	-0.16	0.19	0.13	0.29		PG
	WHWRF	SPHR	NXST	TKR	TTC	PRKS	SPB	PG

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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

TKR	+ 0.92	SPHR
NXST	+ 0.83	SPHR
TKR	+ 0.78	NXST
TTC	+ 0.74	TKR
PRKS	+ 0.69	TTC
TTC	+ 0.66	SPHR

High negative correlations

SPB	- 0.49	SPHR
SPB	- 0.26	TKR
PG	- 0.16	TKR
SPB	- 0.16	NXST
PG	- 0.15	SPHR
PG	- 0.0	WHWRF

Risk-Adjusted Indicators

There is a big difference between Spire Stock performing well and Spire 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 Spire'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
WHWRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPHR	3.05	0.25	0.08	0.23	4.08	(3.18)	6.05	(7.35)	26.82
NXST	1.76	0.03	(0.03)	(1.79)	2.70	(1.69)	3.12	(3.42)	11.88
TKR	1.83	(0.02)	0.01	0.09	2.62	(1.96)	3.85	(4.35)	16.21
TTC	1.71	(0.05)	(0.02)	0.06	2.46	(1.73)	4.24	(3.37)	15.09
PRKS	2.19	0.11	(0.01)	(0.28)	3.22	(2.21)	4.43	(4.44)	21.69
SPB	1.96	(0.44)	0.00	(0.24)	0.00	0.00	3.58	(4.85)	14.57
PG	1.01	(0.10)	0.00	(0.14)	0.00	0.00	2.06	(2.15)	6.71

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