EDP Renovaveis Correlations
| EDRVF Stock | USD 11.46 0.07 0.61% |
The current 90-days correlation between EDP Renovaveis and Brookfield Renewable Partners is 0.01 (i.e., Significant diversification). The correlation of EDP Renovaveis 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.
EDP Renovaveis Correlation With Market
Average diversification
The correlation between EDP Renovaveis and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EDP Renovaveis and DJI in the same portfolio, assuming nothing else is changed.
EDP |
The ability to find closely correlated positions to EDP Renovaveis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EDP Renovaveis 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 EDP Renovaveis - 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 EDP Renovaveis to buy it.
Moving together with EDP Pink Sheet
| 0.68 | OEZVY | Verbund AG ADR | PairCorr |
| 0.88 | DNNGY | Orsted AS ADR | PairCorr |
| 0.85 | DOGEF | Orsted AS | PairCorr |
| 0.82 | CLPXF | China Longyuan Power | PairCorr |
| 0.61 | AFFL | Affiliated Resources Corp | PairCorr |
| 0.95 | KO | Coca Cola Aggressive Push | PairCorr |
Moving against EDP Pink Sheet
| 0.9 | OPFI | OppFi Inc | PairCorr |
| 0.86 | FTNT | Fortinet | PairCorr |
| 0.46 | MET | MetLife Sell-off Trend | PairCorr |
| 0.39 | CLPXY | China Longyuan Power | PairCorr |
| 0.93 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.92 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.86 | HA | Hawaiian Holdings | PairCorr |
| 0.86 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.84 | DECK | Deckers Outdoor | PairCorr |
| 0.83 | WMT | Walmart Aggressive Push | PairCorr |
| 0.82 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.79 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.76 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.7 | FTI | TechnipFMC PLC | PairCorr |
| 0.61 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.57 | HPQ | HP Inc | PairCorr |
| 0.46 | JXN-PA | Jackson Financial | PairCorr |
| 0.43 | HD | Home Depot | PairCorr |
| 0.4 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between EDP Pink Sheet performing well and EDP Renovaveis 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 EDP Renovaveis' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BEP | 1.65 | 0.09 | (0.02) | 1.30 | 1.83 | 3.97 | 15.83 | |||
| CWEN | 1.42 | 0.11 | (0.02) | (0.27) | 2.21 | 2.72 | 14.79 | |||
| AY | 0.09 | 0.01 | (0.92) | (0.65) | 0.00 | 0.23 | 0.60 | |||
| NEP | 2.10 | (0.50) | 0.00 | (0.51) | 0.00 | 3.19 | 19.99 | |||
| AQN | 1.15 | (0.16) | 0.00 | (0.14) | 0.00 | 2.06 | 5.75 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in EDP Renovaveis 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.Did you try this?
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EDP Renovaveis Corporate Management
| Bautista Rodriguez | Chief Offshore | Profile | |
| Sandhya Ganapathy | Chief America | Profile | |
| Duarte Bello | Chief America | Profile | |
| Pedro Vasconcelos | Chief AsiaPacific | Profile | |
| Miguel Andrade | CEO Board | Profile |