SSE PLC Correlations

SSEZY Stock

USD 23.54 0.26 1.12%

The current 90-days correlation between SSE PLC ADR and The AES is 0.31 (i.e., Weak diversification). The correlation of SSE PLC 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.

SSE PLC Correlation With Market

Modest diversification

The correlation between SSE PLC ADR and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSE PLC ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SSE PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSE PLC 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 SSE PLC - 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 SSE PLC ADR to buy it.

Moving together with SSE Pink Sheet

0.71	PBCRY	Bank Central Asia	Pair Corr
0.65	KO	Coca Cola	Pair Corr

Moving against SSE Pink Sheet

0.8	SOJE	Southern Company	Pair Corr
0.8	SOJC	Southern	Pair Corr
0.79	CNL	Collective Mining	Pair Corr
0.76	CMSA	CMS Energy Corp	Pair Corr
0.73	PTAIY	Astra International Tbk	Pair Corr
0.71	DTW	DTE Energy	Pair Corr
0.66	TLN	Talen Energy	Pair Corr
0.6	TLK	Telkom Indonesia Tbk	Pair Corr
0.52	EML	Eastern	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.34	SSVFF	Southern Silver Expl	Pair Corr
0.31	BKRKY	Bank Rakyat	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr
0.69	GE	GE Aerospace	Pair Corr
0.63	WMT	Walmart	Pair Corr
0.62	AXP	American Express Sell-off Trend	Pair Corr
0.53	VZ	Verizon Communications	Pair Corr
0.46	XOM	Exxon Mobil Corp	Pair Corr
0.45	INTC	Intel	Pair Corr
0.42	CAT	Caterpillar	Pair Corr
0.39	MMM	3M Company Sell-off Trend	Pair Corr

Related Correlations Analysis

	ENLAY	ALE	CIG	AES	NWE	AVA	BKH	OTTR	ELP	MNTK
ENLAY		0.11	0.63	0.3	0.7	0.07	0.68	0.61	0.59	-0.06	ENLAY
ALE	0.11		-0.29	0.44	-0.08	0.51	0.06	-0.46	-0.11	0.05	ALE
CIG	0.63	-0.29		-0.01	0.72	-0.23	0.56	0.72	0.91	-0.21	CIG
AES	0.3	0.44	-0.01		0.41	-0.21	0.39	0.11	0.12	-0.2	AES
NWE	0.7	-0.08	0.72	0.41		-0.26	0.91	0.83	0.72	-0.48	NWE
AVA	0.07	0.51	-0.23	-0.21	-0.26		-0.12	-0.34	-0.22	0.28	AVA
BKH	0.68	0.06	0.56	0.39	0.91	-0.12		0.73	0.62	-0.6	BKH
OTTR	0.61	-0.46	0.72	0.11	0.83	-0.34	0.73		0.58	-0.32	OTTR
ELP	0.59	-0.11	0.91	0.12	0.72	-0.22	0.62	0.58		-0.33	ELP
MNTK	-0.06	0.05	-0.21	-0.2	-0.48	0.28	-0.6	-0.32	-0.33		MNTK
	ENLAY	ALE	CIG	AES	NWE	AVA	BKH	OTTR	ELP	MNTK

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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

ELP	+ 0.91	CIG
BKH	+ 0.91	NWE
OTTR	+ 0.83	NWE
OTTR	+ 0.73	BKH
NWE	+ 0.72	CIG
OTTR	+ 0.72	CIG

High negative correlations

MNTK	- 0.6	BKH
MNTK	- 0.48	NWE
OTTR	- 0.46	ALE
OTTR	- 0.34	AVA
MNTK	- 0.33	ELP
MNTK	- 0.32	OTTR

Risk-Adjusted Indicators

There is a big difference between SSE Pink Sheet performing well and SSE PLC 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 SSE PLC'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
ENLAY	0.79	(0.01)	(0.04)	0.06	0.88	(0.88)	1.55	(1.55)	4.57
ALE	0.37	0.06	(0.01)	5.14	0.17	(0.46)	0.91	(0.69)	2.91
CIG	1.21	(0.01)	(0.01)	0.06	1.53	(1.54)	2.75	(3.21)	8.44
AES	2.07	0.43	0.15	0.53	2.18	(2.34)	4.01	(3.96)	26.81
NWE	0.88	0.13	0.10	0.25	0.87	(0.94)	2.08	(1.81)	8.87
AVA	0.80	(0.06)	0.00	(0.06)	0.00	0.00	1.81	(1.51)	5.94
BKH	0.76	0.07	0.04	0.18	0.95	(0.73)	1.37	(1.79)	4.27
OTTR	0.97	(0.06)	(0.04)	0.01	1.23	(1.00)	1.94	(1.67)	9.10
ELP	1.38	0.08	0.03	0.25	1.49	(1.50)	3.09	(2.37)	7.18
MNTK	3.32	(0.22)	(0.01)	0.01	4.56	(3.46)	7.65	(6.45)	21.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSE PLC 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.

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SSE PLC Corporate Management

Robert McDonald	Managing Transmission	Profile
Alan Young	Managing Sustainability	Profile
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Anthony Keeling	COO Retail	Profile

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