Eni SPA Correlations

E Stock

USD 28.22 0.10 0.36%

The current 90-days correlation between Eni SpA ADR and TotalEnergies SE ADR is 0.85 (i.e., Very poor diversification). The correlation of Eni SPA 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.

Eni SPA Correlation With Market

Significant diversification

The correlation between Eni SpA ADR and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eni SpA ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eni SpA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Eni Stock

0.88	BP	BP PLC ADR	Pair Corr
0.71	EC	Ecopetrol SA ADR	Pair Corr
0.69	EQNR	Equinor ASA ADR	Pair Corr
0.9	CVE	Cenovus Energy	Pair Corr
0.9	TTE	TotalEnergies SE ADR	Pair Corr
0.84	SHEL	Shell PLC ADR	Pair Corr
0.66	DINO	HF Sinclair Corp	Pair Corr
0.63	SD	SandRidge Energy	Pair Corr

Moving against Eni Stock

0.75	TGS	Transportadora de Gas	Pair Corr
0.73	YPF	YPF Sociedad Anonima	Pair Corr
0.69	AE	Adams Resources Energy	Pair Corr
0.68	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.67	LB	LandBridge Company	Pair Corr
0.63	EE	Excelerate Energy	Pair Corr
0.52	SLNG	Stabilis Solutions	Pair Corr
0.49	NFG	National Fuel Gas	Pair Corr
0.48	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.48	AR	Antero Resources Corp Potential Growth	Pair Corr
0.45	CGBSW	Crown LNG Holdings	Pair Corr
0.35	CGBS	Crown LNG Holdings	Pair Corr
0.35	EP	Empire Petroleum Corp	Pair Corr
0.31	AM	Antero Midstream Partners	Pair Corr
0.73	ENLC	EnLink Midstream LLC	Pair Corr
0.66	TS	Tenaris SA ADR	Pair Corr
0.65	EFXT	Enerflex	Pair Corr
0.6	BKR	Baker Hughes Fiscal Year End 28th of January 2025	Pair Corr
0.58	DLNG	Dynagas LNG Partners Earnings Call Tomorrow	Pair Corr
0.53	IMPPP	Imperial Petroleum	Pair Corr
0.52	DMLP	Dorchester Minerals	Pair Corr
0.46	DNOW	Now Inc	Pair Corr
0.42	VNOM	Viper Energy Ut	Pair Corr
0.32	PR	Permian Resources	Pair Corr

Related Correlations Analysis

	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS
TTE		0.79	0.67	0.6	0.68	0.89	0.82	0.56	-0.85	-0.85	TTE
EC	0.79		0.7	0.87	0.83	0.92	0.89	0.85	-0.57	-0.61	EC
SHEL	0.67	0.7		0.58	0.62	0.8	0.76	0.61	-0.42	-0.47	SHEL
PBR	0.6	0.87	0.58		0.82	0.78	0.71	0.99	-0.29	-0.38	PBR
EQNR	0.68	0.83	0.62	0.82		0.81	0.69	0.82	-0.39	-0.45	EQNR
BP	0.89	0.92	0.8	0.78	0.81		0.91	0.76	-0.66	-0.72	BP
GLPEY	0.82	0.89	0.76	0.71	0.69	0.91		0.69	-0.73	-0.79	GLPEY
PBR-A	0.56	0.85	0.61	0.99	0.82	0.76	0.69		-0.25	-0.34	PBR-A
YPF	-0.85	-0.57	-0.42	-0.29	-0.39	-0.66	-0.73	-0.25		0.97	YPF
TGS	-0.85	-0.61	-0.47	-0.38	-0.45	-0.72	-0.79	-0.34	0.97		TGS
	TTE	EC	SHEL	PBR	EQNR	BP	GLPEY	PBR-A	YPF	TGS

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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

PBR-A	+ 0.99	PBR
TGS	+ 0.97	YPF
BP	+ 0.92	EC
GLPEY	+ 0.91	BP
BP	+ 0.89	TTE
GLPEY	+ 0.89	EC

High negative correlations

TGS	- 0.85	TTE
YPF	- 0.85	TTE
TGS	- 0.79	GLPEY
YPF	- 0.73	GLPEY
TGS	- 0.72	BP
YPF	- 0.66	BP

Risk-Adjusted Indicators

There is a big difference between Eni Stock performing well and Eni SPA 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 Eni SPA'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
TTE	1.01	(0.30)	0.00	(2.32)	0.00	0.00	1.62	(2.57)	7.40
EC	1.39	(0.43)	0.00	(1.28)	0.00	0.00	2.46	(3.86)	8.46
SHEL	0.99	(0.20)	0.00	(0.74)	0.00	0.00	1.42	(2.79)	5.88
PBR	1.17	(0.13)	0.00	(0.31)	0.00	0.00	1.92	(2.53)	6.04
EQNR	1.50	(0.14)	0.00	1.31	0.00	0.00	3.30	(4.50)	8.46
BP	1.17	(0.29)	0.00	(0.53)	0.00	0.00	1.68	(3.34)	7.70
GLPEY	1.14	(0.39)	0.00	(4.28)	0.00	0.00	1.54	(2.74)	7.62
PBR-A	1.16	(0.14)	0.00	(0.33)	0.00	0.00	2.27	(2.81)	5.66
YPF	2.10	0.88	0.51	1.17	1.08	(2.76)	5.61	(2.51)	10.08
TGS	2.23	0.68	0.24	3.09	1.94	(2.54)	6.42	(3.08)	12.65

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