Brookfield Infrastructure Correlations

BIP Stock

USD 32.40 0.02 0.06%

The current 90-days correlation between Brookfield Infrastructure and Sempra Energy is 0.33 (i.e., Weak diversification). The correlation of Brookfield Infrastructure 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.

Brookfield Infrastructure Correlation With Market

Very weak diversification

The correlation between Brookfield Infrastructure Part and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Infrastructure Part and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Brookfield Stock

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

Moving together with Brookfield Stock

0.93	ELPC	Companhia Paranaense	Pair Corr
0.82	CIG	Companhia Energetica	Pair Corr
0.65	SRE	Sempra Energy	Pair Corr
0.68	BIP-PA	Brookfield Infrastructure	Pair Corr
0.79	D	Dominion Energy	Pair Corr
0.93	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.77	VG	Venture Global,	Pair Corr
0.64	RNWWW	ReNew Energy Global	Pair Corr
0.73	ENIC	Enel Chile SA Earnings Call This Week	Pair Corr
0.71	ENLT	Enlight Renewable Energy	Pair Corr
0.77	AQN	Algonquin Power Utilities	Pair Corr
0.81	BEP	Brookfield Renewable	Pair Corr
0.95	CEG	Constellation Energy Corp	Pair Corr

Moving against Brookfield Stock

0.87	AVA	Avista	Pair Corr
0.87	ED	Consolidated Edison	Pair Corr
0.83	UTL	UNITIL	Pair Corr
0.68	SR	Spire Inc	Pair Corr
0.49	FE	FirstEnergy	Pair Corr
0.88	CWT	California Water Service	Pair Corr
0.87	CPK	Chesapeake Utilities	Pair Corr
0.78	WTRG	Essential Utilities	Pair Corr
0.75	BKH	Black Hills	Pair Corr
0.74	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.67	AWK	American Water Works	Pair Corr
0.62	DUK	Duke Energy	Pair Corr
0.62	EIX	Edison International Earnings Call This Week	Pair Corr
0.6	AEP	American Electric Power	Pair Corr
0.59	AEE	Ameren Corp	Pair Corr
0.59	ATO	Atmos Energy	Pair Corr
0.52	AWR	American States Water	Pair Corr
0.45	CNP	CenterPoint Energy	Pair Corr
0.32	EDN	Empresa Distribuidora	Pair Corr

Related Correlations Analysis

	BKH	SRE	AES	NWE	ALE	BEP	BAM	BIPC	WPC
BKH		-0.19	-0.47	0.94	-0.03	-0.79	-0.45	-0.81	-0.56	BKH
SRE	-0.19		0.22	-0.3	0.45	0.41	0.83	0.51	0.21	SRE
AES	-0.47	0.22		-0.44	0.59	0.63	0.65	0.53	0.21	AES
NWE	0.94	-0.3	-0.44		-0.14	-0.87	-0.5	-0.91	-0.67	NWE
ALE	-0.03	0.45	0.59	-0.14		0.32	0.6	0.29	0.06	ALE
BEP	-0.79	0.41	0.63	-0.87	0.32		0.61	0.93	0.73	BEP
BAM	-0.45	0.83	0.65	-0.5	0.6	0.61		0.68	0.2	BAM
BIPC	-0.81	0.51	0.53	-0.91	0.29	0.93	0.68		0.73	BIPC
WPC	-0.56	0.21	0.21	-0.67	0.06	0.73	0.2	0.73		WPC
	BKH	SRE	AES	NWE	ALE	BEP	BAM	BIPC	WPC

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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

NWE	+ 0.94	BKH
BIPC	+ 0.93	BEP
BAM	+ 0.83	SRE
WPC	+ 0.73	BEP
WPC	+ 0.73	BIPC
BIPC	+ 0.68	BAM

High negative correlations

BIPC	- 0.91	NWE
BEP	- 0.87	NWE
BIPC	- 0.81	BKH
BEP	- 0.79	BKH
WPC	- 0.67	NWE
WPC	- 0.56	BKH

Risk-Adjusted Indicators

There is a big difference between Brookfield Stock performing well and Brookfield Infrastructure 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 Brookfield Infrastructure'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
BKH	0.78	(0.12)	0.00	(0.16)	0.00	0.00	1.32	(1.79)	6.46
SRE	0.90	0.10	0.05	0.28	1.04	(0.99)	2.14	(1.79)	5.45
AES	2.61	0.29	0.09	0.35	3.24	(2.85)	5.05	(4.94)	26.19
NWE	0.86	(0.17)	0.00	(0.30)	0.00	0.00	1.40	(2.16)	4.57
ALE	0.26	0.00	(0.32)	0.16	0.23	(0.28)	0.59	(0.51)	2.42
BEP	1.41	0.35	0.14	1.56	1.49	(1.54)	3.02	(2.31)	10.09
BAM	1.38	0.21	0.14	0.30	1.36	(1.59)	3.65	(2.59)	8.94
BIPC	0.95	0.16	0.10	0.38	0.97	(0.99)	2.17	(1.54)	5.85
WPC	0.83	0.04	(0.06)	0.38	0.97	(0.92)	1.82	(1.55)	4.98

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