Aqua America Correlations

A2A Stock

EUR 34.70 0.13 0.37%

The current 90-days correlation between Aqua America and American Water Works is 0.38 (i.e., Weak diversification). The correlation of Aqua America 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.

Aqua America Correlation With Market

Significant diversification

The correlation between Aqua America and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aqua America and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aqua Stock

0.76	UUEC	United Utilities	Pair Corr
0.91	FDK	American States Water	Pair Corr
0.65	NSE	Nomura Holdings	Pair Corr
0.69	7PI	Poste Italiane SpA	Pair Corr
0.83	7RY	Ryerson Holding	Pair Corr
0.63	3O8	Omeros	Pair Corr
0.7	GMS1	ImagineAR	Pair Corr
0.72	51KB	AVITA Medical	Pair Corr
0.77	TC7	TIANDE CHEMICAL	Pair Corr
0.78	74F	LIFE BANC SPLIT	Pair Corr
0.8	ONK	ONEOK Inc	Pair Corr
0.75	SOBA	ATT Inc	Pair Corr
0.83	2KD	Kinder Morgan	Pair Corr
0.78	G6G	GrafTech International	Pair Corr
0.74	BKJ	Brinker International	Pair Corr

Moving against Aqua Stock

0.74	GHDN	Brainstorm Cell Ther Split	Pair Corr
0.73	AHD	ASHFORD HOSPITTRUST Split	Pair Corr
0.71	AZ6	EuropaCorp	Pair Corr
0.47	F1P2	TTW Public	Pair Corr
0.37	QB3	Quebecor	Pair Corr
0.36	F1P	TTW Public	Pair Corr
0.31	WWG	Gelsenwasser AG	Pair Corr
0.51	9RV	REVLTNRY CNCPT	Pair Corr
0.38	CKS2	GOME Retail Holdings	Pair Corr

Related Correlations Analysis

	AWC	A2A	UUEC	SAJA	GUG	WWG	FDK	CUBB	F1P	F1P2
AWC		0.14	0.2	0.73	-0.56	0.31	0.13	-0.44	-0.15	0.02	AWC
A2A	0.14		0.76	0.19	0.59	-0.31	0.91	0.13	-0.36	-0.47	A2A
UUEC	0.2	0.76		0.24	0.41	-0.22	0.69	-0.12	-0.25	-0.4	UUEC
SAJA	0.73	0.19	0.24		-0.44	0.3	0.28	-0.54	-0.43	-0.23	SAJA
GUG	-0.56	0.59	0.41	-0.44		-0.46	0.53	0.43	-0.17	-0.34	GUG
WWG	0.31	-0.31	-0.22	0.3	-0.46		-0.19	-0.33	0.08	0.3	WWG
FDK	0.13	0.91	0.69	0.28	0.53	-0.19		0.02	-0.46	-0.55	FDK
CUBB	-0.44	0.13	-0.12	-0.54	0.43	-0.33	0.02		0.33	0.31	CUBB
F1P	-0.15	-0.36	-0.25	-0.43	-0.17	0.08	-0.46	0.33		0.67	F1P
F1P2	0.02	-0.47	-0.4	-0.23	-0.34	0.3	-0.55	0.31	0.67		F1P2
	AWC	A2A	UUEC	SAJA	GUG	WWG	FDK	CUBB	F1P	F1P2

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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

FDK	+ 0.91	A2A
UUEC	+ 0.76	A2A
SAJA	+ 0.73	AWC
FDK	+ 0.69	UUEC
F1P2	+ 0.67	F1P
GUG	+ 0.59	A2A

High negative correlations

GUG	- 0.56	AWC
F1P2	- 0.55	FDK
CUBB	- 0.54	SAJA
F1P2	- 0.47	A2A
F1P	- 0.46	FDK
WWG	- 0.46	GUG

Risk-Adjusted Indicators

There is a big difference between Aqua Stock performing well and Aqua America 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 Aqua America'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
AWC	1.22	(0.17)	0.00	0.87	0.00	0.00	2.20	(3.34)	8.06
A2A	0.99	0.06	0.03	0.60	1.21	(1.09)	1.61	(2.04)	10.96
UUEC	1.08	0.04	0.01	0.16	1.22	(1.48)	2.34	(2.37)	6.37
SAJA	1.52	(0.26)	0.00	(1.58)	0.00	0.00	2.80	(4.11)	10.16
GUG	3.42	1.47	0.37	1.50	2.27	(5.52)	10.00	(4.05)	50.00
WWG	1.67	(0.10)	0.00	(0.23)	0.00	0.00	4.81	(4.72)	14.17
FDK	1.04	0.01	0.00	0.07	1.13	(1.26)	2.16	(2.05)	7.20
CUBB	3.04	0.83	0.22	2.03	2.44	(5.03)	5.77	(5.00)	47.67
F1P	1.11	0.07	0.01	0.18	1.88	(4.69)	4.17	(4.00)	19.11
F1P2	0.91	0.00	0.00	0.03	1.60	(5.05)	4.17	(4.00)	13.09

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Our tools can tell you how much better you can do entering a position in Aqua America 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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