CMS Energy Correlations

CMSA Stock

USD 21.60 0.04 0.19%

The current 90-days correlation between CMS Energy Corp and CMS Energy Corp is 0.73 (i.e., Poor diversification). The correlation of CMS Energy 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.

CMS Energy Correlation With Market

Very weak diversification

The correlation between CMS Energy Corp and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMS Energy Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with CMS Stock

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

For information on how to trade CMS Stock refer to our How to Trade CMS Stock guide.

Moving together with CMS Stock

0.95	CMSD	CMS Energy Corp	Pair Corr
0.97	CMSC	CMS Energy Corp	Pair Corr
0.76	D	Dominion Energy	Pair Corr
0.61	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.89	CMS-PC	CMS Energy Earnings Call This Week	Pair Corr
0.81	ELLO	Ellomay Capital	Pair Corr
0.93	ENLT	Enlight Renewable Energy	Pair Corr
0.63	AES	AES Aggressive Push	Pair Corr
0.67	AQN	Algonquin Power Utilities	Pair Corr
0.76	BEP	Brookfield Renewable	Pair Corr
0.67	CEG	Constellation Energy Corp	Pair Corr
0.77	CIG	Companhia Energetica	Pair Corr

Moving against CMS Stock

0.67	ED	Consolidated Edison	Pair Corr
0.64	WTRG	Essential Utilities	Pair Corr
0.61	AWR	American States Water	Pair Corr
0.51	FE	FirstEnergy	Pair Corr
0.51	AVA	Avista	Pair Corr
0.39	DUKB	Duke Energy Corp	Pair Corr
0.36	AWK	American Water Works	Pair Corr
0.33	ATO	Atmos Energy	Pair Corr
0.76	EDN	Empresa Distribuidora	Pair Corr
0.62	CWT	California Water Service	Pair Corr
0.57	BKH	Black Hills	Pair Corr
0.52	EXC	Exelon	Pair Corr
0.51	EIX	Edison International Earnings Call This Week	Pair Corr
0.51	HTO	H2O America Symbol Change	Pair Corr
0.44	CNP	CenterPoint Energy	Pair Corr
0.41	FTS	Fortis Inc	Pair Corr

Related Correlations Analysis

	CMSC	DTW	CMSD	SOJC	DUKB
CMSC		0.73	0.97	0.95	-0.37	CMSC
DTW	0.73		0.82	0.72	0.23	DTW
CMSD	0.97	0.82		0.95	-0.27	CMSD
SOJC	0.95	0.72	0.95		-0.32	SOJC
DUKB	-0.37	0.23	-0.27	-0.32		DUKB
	CMSC	DTW	CMSD	SOJC	DUKB

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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

CMSD	+ 0.97	CMSC
SOJC	+ 0.95	CMSC
SOJC	+ 0.95	CMSD
CMSD	+ 0.82	DTW
DTW	+ 0.73	CMSC
SOJC	+ 0.72	DTW

High negative correlations

DUKB	- 0.37	CMSC
DUKB	- 0.32	SOJC
DUKB	- 0.27	CMSD

Risk-Adjusted Indicators

There is a big difference between CMS Stock performing well and CMS 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 CMS 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
CMSC	0.35	0.03	(0.18)	0.26	0.26	(0.42)	0.78	(0.64)	2.35
DTW	0.52	0.04	(0.10)	0.34	0.50	(0.58)	1.11	(0.81)	2.74
CMSD	0.44	0.05	(0.08)	0.35	0.42	(0.48)	0.95	(0.68)	2.96
SOJC	0.39	0.04	(0.12)	0.32	0.45	(0.42)	0.99	(0.70)	3.30
DUKB	0.33	(0.02)	(0.32)	(0.04)	0.41	(0.34)	0.58	(0.70)	2.07

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