Atmos Energy Correlations

ATO Stock

USD 166.76 4.53 2.64%

The current 90-days correlation between Atmos Energy and DTE Energy is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Atmos Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atmos Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Atmos Energy Correlation With Market

Significant diversification

The correlation between Atmos Energy and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atmos Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Atmos Stock

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

To learn how to invest in Atmos Stock, please use our How to Invest in Atmos Energy guide.

Moving together with Atmos Stock

0.9	SR	Spire Inc	Pair Corr
0.71	CPK	Chesapeake Utilities	Pair Corr
0.65	SGU	Star Gas Partners	Pair Corr
0.64	SHG	Shinhan Financial	Pair Corr
0.66	HL	Hecla Mining	Pair Corr
0.84	LRGR	Luminar Media Group	Pair Corr
0.67	02361DAZ3	AEE 59 01	Pair Corr

Moving against Atmos Stock

0.68	SOJC	Southern	Pair Corr
0.65	BKRKY	Bank Rakyat	Pair Corr
0.62	DTW	DTE Energy	Pair Corr
0.61	SOJE	Southern Company	Pair Corr
0.6	CNL	Collective Mining	Pair Corr
0.53	NFG	National Fuel Gas	Pair Corr
0.45	ONON	On Holding	Pair Corr
0.38	WF	Woori Financial Group	Pair Corr
0.35	PTBRY	Bank Negara Indonesia	Pair Corr
0.32	030360AD3	US030360AD30	Pair Corr

Related Correlations Analysis

	DTE	AEE	ES	FE	PPL	CNP	FTS	SO	EBR-B	AWK
DTE		0.65	0.62	0.44	0.89	0.53	0.17	0.84	-0.25	0.58	DTE
AEE	0.65		0.63	0.91	0.72	0.9	0.8	0.38	0.45	0.05	AEE
ES	0.62	0.63		0.57	0.68	0.55	0.36	0.53	0.19	-0.02	ES
FE	0.44	0.91	0.57		0.55	0.89	0.86	0.27	0.64	-0.13	FE
PPL	0.89	0.72	0.68	0.55		0.59	0.26	0.83	-0.18	0.44	PPL
CNP	0.53	0.9	0.55	0.89	0.59		0.83	0.26	0.56	-0.04	CNP
FTS	0.17	0.8	0.36	0.86	0.26	0.83		-0.09	0.81	-0.27	FTS
SO	0.84	0.38	0.53	0.27	0.83	0.26	-0.09		-0.45	0.68	SO
EBR-B	-0.25	0.45	0.19	0.64	-0.18	0.56	0.81	-0.45		-0.65	EBR-B
AWK	0.58	0.05	-0.02	-0.13	0.44	-0.04	-0.27	0.68	-0.65		AWK
	DTE	AEE	ES	FE	PPL	CNP	FTS	SO	EBR-B	AWK

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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

FE	+ 0.91	AEE
CNP	+ 0.9	AEE
PPL	+ 0.89	DTE
CNP	+ 0.89	FE
FTS	+ 0.86	FE
SO	+ 0.84	DTE

High negative correlations

AWK	- 0.65	EBR-B
EBR-B	- 0.45	SO
AWK	- 0.27	FTS
EBR-B	- 0.25	DTE
EBR-B	- 0.18	PPL
AWK	- 0.13	FE

Risk-Adjusted Indicators

There is a big difference between Atmos Stock performing well and Atmos 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 Atmos 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
DTE	0.73	(0.08)	0.00	(0.12)	0.00	0.00	1.25	(1.81)	4.73
AEE	0.69	(0.03)	0.00	(0.04)	0.00	0.00	1.31	(1.45)	5.74
ES	1.17	0.07	0.01	0.22	2.59	(1.07)	2.13	(1.91)	17.34
FE	0.68	0.05	(0.01)	0.41	0.98	(0.63)	1.10	(1.62)	5.40
PPL	0.80	(0.13)	0.00	(0.34)	0.00	0.00	1.23	(1.74)	4.72
CNP	0.70	0.03	(0.02)	0.32	0.98	(0.68)	1.47	(1.71)	3.76
FTS	0.55	0.05	(0.03)	(1.33)	0.53	(0.60)	1.27	(0.91)	3.22
SO	0.72	(0.09)	0.00	(3.12)	0.00	0.00	1.51	(1.42)	4.56
EBR-B	1.55	0.52	0.18	0.77	1.79	(1.85)	4.15	(2.09)	9.79
AWK	1.12	(0.12)	0.00	1.08	0.00	0.00	1.95	(2.49)	6.10

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