Duke Energy Correlations

Stocks . USA . 
Stock . Duke Energy
DUK Stock  USD 118.42  0.96  0.82%   
The current 90-days correlation between Duke Energy and Consolidated Edison is 0.87 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Duke Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Duke Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Duke Energy Correlation With Market

Significant diversification

The correlation between Duke Energy and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Duke Energy and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Duke 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 employment.
For more information on how to buy Duke Stock please use our How to buy in Duke Stock guide.

Moving together with Duke Stock

  0.76ED Consolidated EdisonPairCorr
  0.86AEE Ameren CorpPairCorr
  0.93AEP American Electric PowerPairCorr
  0.84CMS CMS Energy Earnings Call This WeekPairCorr
  0.83EXC ExelonPairCorr
  0.66NWE NorthWesternPairCorr
  0.9OGE OGE EnergyPairCorr
  0.85PNW Pinnacle West CapitalPairCorr
  0.83PPL PPL CorporationPairCorr
  0.77WEC WEC Energy GroupPairCorr

Moving against Duke Stock

  0.67ELP Companhia ParanaensePairCorr
  0.56ES Eversource Energy Earnings Call This WeekPairCorr
  0.56ENIC Enel Chile SA Earnings Call This WeekPairCorr
  0.31HE Hawaiian ElectricPairCorr
  0.5GNE Genie EnergyPairCorr
  0.49NEE Nextera Energy Earnings Call This WeekPairCorr
  0.48TLN Talen Energy Upward RallyPairCorr
  0.4SCE-PJ SCE Trust IVPairCorr

Related Correlations Analysis

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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
EXC
+ 0.76
AEP
NEE
+ 0.74
D
SO
+ 0.71
AEP
EIX
+ 0.66
EXC
AEP
+ 0.65
ED
  
High negative correlations   
NEE
- 0.76
ED
EXC
- 0.74
NEE
D
- 0.68
ED
EXC
- 0.62
D
EIX
- 0.57
NEE
EIX
- 0.46
D

Risk-Adjusted Indicators

There is a big difference between Duke Stock performing well and Duke 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 Duke 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.

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