Avista Correlations
AVA Stock | USD 38.36 0.26 0.68% |
The current 90-days correlation between Avista and Park Hotels Resorts is 0.17 (i.e., Average diversification). The correlation of Avista 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.
Avista Correlation With Market
Weak diversification
The correlation between Avista and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avista and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Avista Stock
0.96 | UTL | UNITIL | PairCorr |
0.93 | ED | Consolidated Edison | PairCorr |
0.88 | SR | Spire Inc | PairCorr |
0.85 | WTRG | Essential Utilities | PairCorr |
0.81 | AEE | Ameren Corp | PairCorr |
0.87 | AEP | American Electric Power | PairCorr |
0.82 | AWK | American Water Works | PairCorr |
0.86 | BKH | Black Hills | PairCorr |
0.9 | CMS | CMS Energy | PairCorr |
Moving against Avista Stock
0.77 | BIP | Brookfield Infrastructure | PairCorr |
0.7 | CIG | Companhia Energetica | PairCorr |
0.68 | ES | Eversource Energy | PairCorr |
0.63 | AQN | Algonquin Power Utilities | PairCorr |
0.52 | BIP-PA | Brookfield Infrastructure | PairCorr |
0.52 | RNWWW | ReNew Energy Global | PairCorr |
0.41 | D | Dominion Energy | PairCorr |
0.4 | SRE | Sempra Energy | PairCorr |
0.34 | BIP-PB | Brookfield Infrastructure | PairCorr |
0.81 | CEG | Constellation Energy Corp | PairCorr |
0.77 | ELPC | Companhia Paranaense | PairCorr |
0.77 | ELP | Companhia Paranaense | PairCorr |
0.76 | BEP | Brookfield Renewable | PairCorr |
0.75 | ENLT | Enlight Renewable Energy | PairCorr |
0.58 | ENIC | Enel Chile SA | PairCorr |
0.47 | EMA | Emera Inc | PairCorr |
0.45 | DTW | DTE Energy | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Avista Stock performing well and Avista 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 Avista'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
GNL-PD | 0.86 | (0.03) | (0.06) | 0.03 | 1.48 | 1.89 | 5.85 | |||
PK | 1.98 | (0.07) | 0.00 | 0.06 | 2.80 | 4.11 | 20.08 | |||
FTAIM | 0.74 | 0.07 | (0.03) | 2.38 | 0.82 | 2.03 | 4.97 | |||
RHP | 1.64 | 0.20 | 0.03 | (1.37) | 2.12 | 3.21 | 14.97 | |||
HRI | 3.21 | (0.05) | 0.01 | 0.08 | 3.83 | 8.31 | 23.09 | |||
MLCO | 2.38 | 0.67 | 0.19 | (3.40) | 2.31 | 6.36 | 15.52 | |||
R | 1.91 | 0.20 | 0.10 | 0.25 | 2.03 | 4.18 | 15.25 | |||
CAR | 3.15 | 1.26 | 0.39 | 0.96 | 2.54 | 9.34 | 22.24 |