NRG Energy Correlations

NRA Stock

EUR 89.96 0.38 0.42%

The current 90-days correlation between NRG Energy and Norsk Hydro ASA is -0.01 (i.e., Good diversification). The correlation of NRG Energy 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.

NRG Energy Correlation With Market

Significant diversification

The correlation between NRG Energy and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NRG Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NRG Stock

0.84	NSE	Nomura Holdings	Pair Corr
0.81	7PI	Poste Italiane SpA	Pair Corr
0.85	7RY	Ryerson Holding	Pair Corr
0.82	3O8	Omeros	Pair Corr
0.64	E908	Lyxor 1	Pair Corr

Moving against NRG Stock

0.82	EDW	EDP Renovveis SA	Pair Corr
0.79	AZ6	EuropaCorp	Pair Corr
0.76	D2G	Orsted AS	Pair Corr
0.65	AHD	ASHFORD HOSPITTRUST Split	Pair Corr
0.65	GHDN	Brainstorm Cell Ther Split	Pair Corr
0.61	DBPD	Xtrackers ShortDAX	Pair Corr
0.6	1NR	Northland Power	Pair Corr
0.43	QB3	Quebecor	Pair Corr

Related Correlations Analysis

	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI
8SP		0.7	-0.49	-0.73	-0.32	0.47	-0.18	-0.69	-0.67	-0.69	8SP
2DG	0.7		-0.53	-0.89	-0.23	0.78	-0.68	-0.93	-0.78	-0.91	2DG
NOH1	-0.49	-0.53		0.59	0.48	-0.32	0.26	0.57	0.34	0.47	NOH1
RS6	-0.73	-0.89	0.59		0.22	-0.76	0.62	0.94	0.71	0.92	RS6
XYTA	-0.32	-0.23	0.48	0.22		0.11	-0.18	0.28	0.2	0.08	XYTA
9K1	0.47	0.78	-0.32	-0.76	0.11		-0.85	-0.83	-0.65	-0.89	9K1
3RKU	-0.18	-0.68	0.26	0.62	-0.18	-0.85		0.69	0.44	0.78	3RKU
VUSA	-0.69	-0.93	0.57	0.94	0.28	-0.83	0.69		0.76	0.93	VUSA
MEL	-0.67	-0.78	0.34	0.71	0.2	-0.65	0.44	0.76		0.79	MEL
HEI	-0.69	-0.91	0.47	0.92	0.08	-0.89	0.78	0.93	0.79		HEI
	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI

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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

VUSA	+ 0.94	RS6
HEI	+ 0.93	VUSA
HEI	+ 0.92	RS6
HEI	+ 0.79	MEL
9K1	+ 0.78	2DG
HEI	+ 0.78	3RKU

High negative correlations

VUSA	- 0.93	2DG
HEI	- 0.91	2DG
HEI	- 0.89	9K1
RS6	- 0.89	2DG
3RKU	- 0.85	9K1
VUSA	- 0.83	9K1

Risk-Adjusted Indicators

There is a big difference between NRG Stock performing well and NRG Energy 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 NRG Energy'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
8SP	2.04	0.00	0.00	0.00	0.00	0.00	3.36	(3.96)	20.22
2DG	5.01	(1.03)	0.00	(0.38)	0.00	0.00	9.09	(10.00)	52.42
NOH1	2.05	0.22	0.10	0.41	1.77	(2.88)	6.61	(3.25)	13.10
RS6	1.32	0.25	0.12	1.49	1.14	(1.53)	2.94	(2.03)	13.65
XYTA	11.55	4.06	0.13	(1.91)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.72	(0.44)	0.00	3.59	0.00	0.00	2.94	(4.66)	14.80
3RKU	1.54	0.44	0.21	1.89	1.25	(2.12)	3.31	(2.40)	9.54
VUSA	0.55	0.12	0.13	0.24	0.48	(0.61)	1.19	(1.04)	6.02
MEL	1.15	0.23	0.11	3.67	1.04	(1.38)	3.33	(1.78)	7.09
HEI	1.19	0.39	0.33	0.56	0.59	(1.43)	3.29	(1.57)	8.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in NRG Energy 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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NRG Energy Corporate Management

Elected by the shareholders, the NRG Energy's board of directors comprises two types of representatives: NRG Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NRG. The board's role is to monitor NRG Energy's management team and ensure that shareholders' interests are well served. NRG Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NRG Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.

Gaetan Frotte	VP Treasurer	Profile
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Mauricio Gutierrez	CEO Pres	Profile

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