Atlantica Sustainable Correlations

AY Stock

USD 21.94 0.02 0.09%

The current 90-days correlation between Atlantica Sustainable and Clearway Energy is 0.19 (i.e., Average diversification). The correlation of Atlantica Sustainable 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.

Atlantica Sustainable Correlation With Market

Good diversification

The correlation between Atlantica Sustainable Infrastr and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlantica Sustainable Infrastr and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Atlantica Sustainable Infrastructure. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Atlantica Stock

0.64	VGAS	Verde Clean Fuels	Pair Corr
0.66	WAVE	Eco Wave Power	Pair Corr
0.66	ADN	Advent Technologies Downward Rally	Pair Corr
0.9	GEV	GE Vernova LLC	Pair Corr
0.8	ORA	Ormat Technologies	Pair Corr
0.67	NRGV	Energy Vault Holdings Buyout Trend	Pair Corr
0.62	AMPS	Altus Power	Pair Corr
0.83	NI	NiSource	Pair Corr
0.81	CDZIP	Cadiz Depositary Shares	Pair Corr

Moving against Atlantica Stock

0.86	ALCE	Alternus Energy Group Symbol Change	Pair Corr
0.84	EBR	Centrais Electricas	Pair Corr
0.7	AQN	Algonquin Power Utilities	Pair Corr
0.69	NEP	Nextera Energy Partners Fiscal Year End 23rd of January 2025	Pair Corr
0.68	SUUN	SolarBank Common	Pair Corr
0.6	HTOOW	Fusion Fuel Green	Pair Corr
0.58	HTOO	Fusion Fuel Green Earnings Call This Week	Pair Corr
0.57	RNWWW	ReNew Energy Global	Pair Corr
0.37	RNW	Renew Energy Global	Pair Corr
0.79	ELPC	Companhia Paranaense	Pair Corr
0.74	ES	Eversource Energy	Pair Corr
0.73	FE	FirstEnergy Sell-off Trend	Pair Corr
0.62	BNRG	Brenmiller Energy	Pair Corr
0.62	AES	AES	Pair Corr
0.6	AEP	American Electric Power Sell-off Trend	Pair Corr
0.57	ED	Consolidated Edison	Pair Corr
0.38	HE	Hawaiian Electric	Pair Corr

Related Correlations Analysis

	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU	DNNGY
CWEN-A		0.13	0.28	0.23	0.99	0.48	-0.55	0.18	CWEN-A
BEPC	0.13		0.02	0.88	0.07	-0.09	0.3	0.18	BEPC
NEP	0.28	0.02		0.43	0.4	0.89	-0.28	0.85	NEP
BEP	0.23	0.88	0.43		0.23	0.3	0.22	0.54	BEP
CWEN	0.99	0.07	0.4	0.23		0.58	-0.59	0.28	CWEN
AQN	0.48	-0.09	0.89	0.3	0.58		-0.46	0.71	AQN
AQNU	-0.55	0.3	-0.28	0.22	-0.59	-0.46		-0.01	AQNU
DNNGY	0.18	0.18	0.85	0.54	0.28	0.71	-0.01		DNNGY
	CWEN-A	BEPC	NEP	BEP	CWEN	AQN	AQNU	DNNGY

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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

CWEN	+ 0.99	CWEN-A
AQN	+ 0.89	NEP
BEP	+ 0.88	BEPC
DNNGY	+ 0.85	NEP
DNNGY	+ 0.71	AQN
AQN	+ 0.58	CWEN

High negative correlations

AQNU	- 0.59	CWEN
AQNU	- 0.55	CWEN-A
AQNU	- 0.46	AQN
AQNU	- 0.28	NEP
AQN	- 0.09	BEPC
DNNGY	- 0.01	AQNU

Risk-Adjusted Indicators

There is a big difference between Atlantica Stock performing well and Atlantica Sustainable 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 Atlantica Sustainable'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
CWEN-A	1.43	0.14	(0.01)	(0.31)	2.30	(1.25)	2.78	(2.78)	15.50
BEPC	1.94	0.22	0.03	(1.21)	2.13	(2.27)	4.50	(2.88)	16.90
NEP	2.14	(0.54)	0.00	(0.60)	0.00	0.00	3.19	(5.54)	19.99
BEP	1.65	0.09	(0.02)	1.30	1.83	(1.92)	3.97	(2.89)	15.83
CWEN	1.42	0.11	(0.02)	(0.27)	2.21	(1.29)	2.72	(2.89)	14.79
AQN	1.15	(0.16)	0.00	(0.14)	0.00	0.00	2.06	(2.52)	5.75
AQNU	1.36	(0.07)	0.00	(0.47)	0.00	0.00	2.49	(3.18)	8.45
DNNGY	1.77	(0.10)	0.00	(0.19)	0.00	0.00	3.86	(3.54)	19.98

Atlantica Sustainable Corporate Management

Javier Albarracin	Head CIO	Profile
Irene Hernandez	General Compliance	Profile
Francisco MartinezDavis	Chief Officer	Profile
Leire Perez	IR Contact Officer	Profile
Marta Jorge	Director Projects	Profile

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