Dominion Energy Correlations

D Stock

USD 58.09 0.48 0.83%

The current 90-days correlation between Dominion Energy and Southern Company is 0.75 (i.e., Poor diversification). The correlation of Dominion 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.

Dominion Energy Correlation With Market

Very weak diversification

The correlation between Dominion Energy and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dominion Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Dominion Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dominion 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 unemployment.

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

Moving together with Dominion Stock

0.88	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.67	HE	Hawaiian Electric	Pair Corr
0.77	EMA	Emera Incorporated	Pair Corr
0.65	GNE	Genie Energy	Pair Corr
0.81	KEP	Korea Electric Power	Pair Corr
0.67	LNT	Alliant Energy Corp	Pair Corr
0.74	NEE	Nextera Energy Earnings Call This Week	Pair Corr
0.72	TLN	Talen Energy Upward Rally	Pair Corr

Moving against Dominion Stock

0.68	ED	Consolidated Edison	Pair Corr
0.62	EXC	Exelon	Pair Corr
0.47	EDN	Empresa Distribuidora	Pair Corr
0.46	EIX	Edison International Earnings Call This Week	Pair Corr
0.43	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.37	FE	FirstEnergy	Pair Corr
0.31	CNP	CenterPoint Energy	Pair Corr
0.66	NWE	NorthWestern	Pair Corr
0.59	PCG	PGE Corp	Pair Corr
0.44	SCE-PN	SCE Trust VIII	Pair Corr
0.39	PNW	Pinnacle West Capital	Pair Corr
0.38	PPL	PPL Corporation	Pair Corr
0.35	POR	Portland General Electric Earnings Call This Week	Pair Corr
0.35	ETI-P	Entergy Texas	Pair Corr

Related Correlations Analysis

	SO	AEP	NEE	ED	DUK	EXC	EIX
SO		0.71	0.2	0.02	0.6	0.16	-0.28	SO
AEP	0.71		-0.34	0.65	0.93	0.76	0.27	AEP
NEE	0.2	-0.34		-0.76	-0.49	-0.74	-0.57	NEE
ED	0.02	0.65	-0.76		0.76	0.96	0.65	ED
DUK	0.6	0.93	-0.49	0.76		0.83	0.3	DUK
EXC	0.16	0.76	-0.74	0.96	0.83		0.66	EXC
EIX	-0.28	0.27	-0.57	0.65	0.3	0.66		EIX
	SO	AEP	NEE	ED	DUK	EXC	EIX

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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

EXC	+ 0.96	ED
DUK	+ 0.93	AEP
EXC	+ 0.83	DUK
EXC	+ 0.76	AEP
DUK	+ 0.76	ED
AEP	+ 0.71	SO

High negative correlations

ED	- 0.76	NEE
EXC	- 0.74	NEE
EIX	- 0.57	NEE
DUK	- 0.49	NEE
NEE	- 0.34	AEP
EIX	- 0.28	SO

Risk-Adjusted Indicators

There is a big difference between Dominion Stock performing well and Dominion 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 Dominion 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
SO	0.80	0.03	(0.06)	0.26	1.05	(0.80)	1.53	(1.89)	4.80
AEP	0.78	(0.01)	(0.10)	0.10	1.03	(0.81)	1.53	(1.81)	6.00
NEE	1.38	0.12	0.03	0.33	1.83	(1.39)	3.04	(2.99)	9.91
ED	0.91	(0.15)	0.00	(3.31)	0.00	0.00	2.11	(2.25)	5.95
DUK	0.80	(0.03)	0.00	(0.18)	0.00	0.00	1.81	(1.66)	5.69
EXC	0.87	(0.14)	0.00	(0.45)	0.00	0.00	1.71	(1.88)	5.14
EIX	1.42	(0.25)	0.00	(0.15)	0.00	0.00	2.45	(3.49)	12.50

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