Public Service Correlations

PEG Stock

USD 94.20 0.31 0.33%

The current 90-days correlation between Public Service Enterprise and Exelon is 0.34 (i.e., Weak diversification). The correlation of Public Service 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.

Public Service Correlation With Market

Modest diversification

The correlation between Public Service Enterprise and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Public Service Enterprise and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Public Service Enterprise. 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 Public Stock

0.78	AEE	Ameren Corp	Pair Corr
0.67	AGR	Avangrid	Pair Corr
0.66	CMS	CMS Energy	Pair Corr
0.85	CNP	CenterPoint Energy	Pair Corr
0.61	ETR	Entergy	Pair Corr
0.67	EXC	Exelon	Pair Corr
0.77	LNT	Alliant Energy Corp	Pair Corr
0.66	PPL	PPL Corporation	Pair Corr
0.7	TLN	Talen Energy	Pair Corr
0.7	WEC	WEC Energy Group	Pair Corr

Moving against Public Stock

0.61	HE	Hawaiian Electric	Pair Corr
0.5	GNE	Genie Energy	Pair Corr
0.43	VSTEW	Vast Renewables	Pair Corr

Related Correlations Analysis

	LNT	EXC	EVRG	PNW	MGEE	FE	EIX
LNT		0.52	0.77	0.57	0.6	-0.01	0.58	LNT
EXC	0.52		0.12	-0.08	-0.05	0.33	0.33	EXC
EVRG	0.77	0.12		0.92	0.88	-0.3	0.32	EVRG
PNW	0.57	-0.08	0.92		0.82	-0.24	0.28	PNW
MGEE	0.6	-0.05	0.88	0.82		-0.61	0.01	MGEE
FE	-0.01	0.33	-0.3	-0.24	-0.61		0.6	FE
EIX	0.58	0.33	0.32	0.28	0.01	0.6		EIX
	LNT	EXC	EVRG	PNW	MGEE	FE	EIX

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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

PNW	+ 0.92	EVRG
MGEE	+ 0.88	EVRG
MGEE	+ 0.82	PNW
EVRG	+ 0.77	LNT
MGEE	+ 0.6	LNT
EIX	+ 0.6	FE

High negative correlations

FE	- 0.61	MGEE
FE	- 0.3	EVRG
FE	- 0.24	PNW
PNW	- 0.08	EXC
MGEE	- 0.05	EXC
FE	- 0.01	LNT

Risk-Adjusted Indicators

There is a big difference between Public Stock performing well and Public Service 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 Public Service'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
LNT	0.90	0.16	0.04	12.12	1.00	(1.03)	2.04	(1.89)	5.81
EXC	0.82	0.06	(0.04)	0.66	1.00	(0.86)	1.50	(1.66)	5.42
EVRG	0.66	0.15	0.06	1.03	0.60	(0.71)	1.53	(1.22)	3.30
PNW	0.83	0.10	0.03	0.35	0.77	(0.91)	1.99	(1.48)	4.99
MGEE	1.06	0.18	0.17	0.28	0.84	(1.21)	2.95	(1.77)	9.44
FE	0.70	(0.02)	0.00	(0.11)	0.00	0.00	1.13	(1.48)	3.72
EIX	0.82	0.05	(0.04)	0.42	0.96	(0.83)	1.77	(1.59)	3.77

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