Edison International Correlations

EIX Stock

USD 51.14 0.19 0.37%

The current 90-days correlation between Edison International and Consolidated Edison is -0.07 (i.e., Good diversification). The correlation of Edison International 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.

Edison International Correlation With Market

Very weak diversification

The correlation between Edison International and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edison International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Edison Stock

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

For more information on how to buy Edison Stock please use our How to Invest in Edison International guide.

Moving together with Edison Stock

0.63	ED	Consolidated Edison	Pair Corr
0.81	FE	FirstEnergy	Pair Corr
0.64	CNP	CenterPoint Energy	Pair Corr
0.71	EDN	Empresa Distribuidora	Pair Corr
0.66	EXC	Exelon	Pair Corr
0.82	NWE	NorthWestern	Pair Corr
0.92	PCG	PGE Corp	Pair Corr
0.64	PNW	Pinnacle West Capital	Pair Corr
0.78	POR	Portland General Electric Earnings Call This Week	Pair Corr
0.69	XEL	Xcel Energy	Pair Corr

Moving against Edison Stock

0.59	EMA	Emera Incorporated	Pair Corr
0.56	ES	Eversource Energy Earnings Call This Week	Pair Corr
0.56	ELP	Companhia Paranaense	Pair Corr
0.46	D	Dominion Energy	Pair Corr
0.44	EVRG	Evergy,	Pair Corr
0.35	CMS-PC	CMS Energy Earnings Call This Week	Pair Corr
0.81	TLN	Talen Energy Upward Rally	Pair Corr
0.8	GNE	Genie Energy	Pair Corr
0.59	KEP	Korea Electric Power	Pair Corr
0.57	NEE	Nextera Energy Earnings Call This Week	Pair Corr
0.56	SCE-PJ	SCE Trust IV	Pair Corr
0.48	PEG	Public Service Enterprise	Pair Corr
0.47	NGG	National Grid PLC	Pair Corr

Related Correlations Analysis

	ED	SO	ETR	PNW	FE	SRE	DTE	PEG
ED		-0.06	0.31	0.8	0.65	-0.45	0.32	-0.29	ED
SO	-0.06		0.46	0.33	-0.18	0.0	0.15	0.66	SO
ETR	0.31	0.46		0.61	0.46	0.33	0.74	0.1	ETR
PNW	0.8	0.33	0.61		0.7	-0.23	0.58	-0.08	PNW
FE	0.65	-0.18	0.46	0.7		0.21	0.74	-0.63	FE
SRE	-0.45	0.0	0.33	-0.23	0.21		0.49	-0.25	SRE
DTE	0.32	0.15	0.74	0.58	0.74	0.49		-0.3	DTE
PEG	-0.29	0.66	0.1	-0.08	-0.63	-0.25	-0.3		PEG
	ED	SO	ETR	PNW	FE	SRE	DTE	PEG

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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

PNW	+ 0.8	ED
DTE	+ 0.74	ETR
DTE	+ 0.74	FE
FE	+ 0.7	PNW
PEG	+ 0.66	SO
FE	+ 0.65	ED

High negative correlations

PEG	- 0.63	FE
SRE	- 0.45	ED
PEG	- 0.3	DTE
PEG	- 0.29	ED
PEG	- 0.25	SRE
SRE	- 0.23	PNW

Risk-Adjusted Indicators

There is a big difference between Edison Stock performing well and Edison International 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 Edison International'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
ED	0.93	(0.14)	0.00	(1.05)	0.00	0.00	2.19	(2.25)	6.03
SO	0.80	0.03	(0.06)	0.26	1.05	(0.80)	1.53	(1.89)	4.80
ETR	0.97	0.00	(0.05)	0.14	1.10	(1.08)	2.03	(1.99)	5.53
PNW	0.83	(0.06)	0.00	(0.03)	0.00	0.00	1.53	(1.59)	4.10
FE	0.71	(0.03)	(0.14)	(0.01)	0.91	(0.74)	1.24	(1.54)	5.32
SRE	0.90	0.10	0.05	0.28	1.04	(0.99)	2.14	(1.79)	5.45
DTE	0.80	0.01	(0.07)	0.15	1.01	(0.78)	1.70	(1.66)	5.27
PEG	0.94	(0.05)	(0.08)	0.04	1.26	(0.97)	1.87	(1.99)	4.51

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