| AWR Stock | | | USD 85.39 0.02 0.02% |
The current 90-days correlation between American States Water and SJW Group Common is 0.75 (i.e., Poor diversification). The correlation of American States 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.
American States Correlation With Market
Average diversification
The correlation between American States Water and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American States Water and DJI in the same portfolio, assuming nothing else is changed.
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