AES Correlations

AES Stock

USD 13.82 0.15 1.10%

The current 90-days correlation between AES and Brookfield Infrastructure Partners is 0.17 (i.e., Average diversification). The correlation of AES 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.

AES Correlation With Market

Good diversification

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

Build AI portfolio with AES Stock

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

Moving together with AES Stock

0.68	BEPC	Brookfield Renewable Corp	Pair Corr
0.68	002039	Guizhou Qianyuan Power	Pair Corr
0.72	INOXGREEN	Inox Green Energy	Pair Corr
0.72	ENLT	Enlight Renewable Energy	Pair Corr
0.62	600236	Guangxi Guiguan Electric	Pair Corr
0.62	CWENA	Clearway Energy Class	Pair Corr
0.69	BEP	Brookfield Renewable	Pair Corr
0.84	ORA	Ormat Technologies	Pair Corr
0.72	TAC	TransAlta Corp	Pair Corr
0.74	EOSEW	Eos Energy Enterprises	Pair Corr
0.64	600025	Huaneng Lancang River	Pair Corr

Moving against AES Stock

0.62	601778	Jinko Power Technology	Pair Corr
0.61	200539	Guangdong Electric Power	Pair Corr
0.57	600744	Datang HuaYin Electric	Pair Corr
0.5	603693	Jiangsu New Energy	Pair Corr
0.34	VVPR	VivoPower International	Pair Corr
0.33	GEV	GE Vernova LLC	Pair Corr
0.71	INDOWIND	Indowind Energy	Pair Corr
0.6	REVV	ReVolve Renewable Power	Pair Corr
0.55	GIP	Green Impact Partners	Pair Corr
0.33	000966	CHN Energy Changyuan	Pair Corr

Related Correlations Analysis

	BIP	ELPC	CIG-C	WTRG	BEP	OGE	PNW	CIG	ENEAY
BIP		0.72	-0.11	0.57	0.85	0.6	0.4	0.48	0.0	BIP
ELPC	0.72		0.31	0.09	0.8	0.08	-0.09	0.84	0.0	ELPC
CIG-C	-0.11	0.31		-0.49	-0.06	-0.55	-0.62	0.63	0.0	CIG-C
WTRG	0.57	0.09	-0.49		0.42	0.81	0.86	-0.22	0.0	WTRG
BEP	0.85	0.8	-0.06	0.42		0.34	0.3	0.56	0.0	BEP
OGE	0.6	0.08	-0.55	0.81	0.34		0.77	-0.19	0.0	OGE
PNW	0.4	-0.09	-0.62	0.86	0.3	0.77		-0.4	0.0	PNW
CIG	0.48	0.84	0.63	-0.22	0.56	-0.19	-0.4		0.0	CIG
ENEAY	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ENEAY
	BIP	ELPC	CIG-C	WTRG	BEP	OGE	PNW	CIG	ENEAY

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	+ 0.86	WTRG
BEP	+ 0.85	BIP
CIG	+ 0.84	ELPC
OGE	+ 0.81	WTRG
BEP	+ 0.8	ELPC
PNW	+ 0.77	OGE

High negative correlations

PNW	- 0.62	CIG-C
OGE	- 0.55	CIG-C
WTRG	- 0.49	CIG-C
CIG	- 0.4	PNW
CIG	- 0.22	WTRG
CIG	- 0.19	OGE

Risk-Adjusted Indicators

There is a big difference between AES Stock performing well and AES 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 AES'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
BIP	0.90	0.30	0.21	(0.88)	0.70	(1.04)	2.16	(1.64)	6.75
ELPC	1.45	0.37	0.13	(1.47)	1.71	(1.67)	3.25	(2.47)	10.29
CIG-C	1.67	0.05	0.00	0.44	1.80	(2.00)	3.88	(3.21)	8.76
WTRG	1.04	0.03	(0.02)	0.37	1.24	(1.17)	2.10	(2.43)	5.63
BEP	1.56	0.29	0.10	(0.62)	1.64	(1.79)	3.53	(2.91)	11.43
OGE	0.71	0.01	(0.05)	1.24	0.95	(0.68)	1.32	(1.55)	3.78
PNW	0.72	0.00	0.00	0.00	0.00	0.00	1.92	(1.49)	4.33
CIG	1.41	0.15	0.04	2.23	1.84	(1.59)	2.56	(3.12)	8.56
ENEAY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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