Energizer Holdings Correlations

ENR Stock

USD 26.44 0.18 0.68%

The correlation of Energizer Holdings 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.

Energizer Holdings Correlation With Market

Significant diversification

The correlation between Energizer Holdings and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energizer Holdings 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 Energizer Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in Energizer Stock, please use our How to Invest in Energizer Holdings guide.

Moving together with Energizer Stock

0.82	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.88	KE	Kimball Electronics Earnings Call Tomorrow	Pair Corr
0.82	TE	T1 Energy Symbol Change	Pair Corr
0.72	ENVX	Enovix Corp	Pair Corr
0.77	FCEL	FuelCell Energy	Pair Corr
0.88	AYI	Acuity Brands	Pair Corr
0.95	EAF	GrafTech International	Pair Corr
0.79	ENS	Enersys	Pair Corr
0.68	GTI	Graphjet Technology	Pair Corr
0.86	GWH	ESS Tech	Pair Corr
0.7	NVT	nVent Electric PLC	Pair Corr
0.64	NVX	Novonix Ltd ADR	Pair Corr
0.77	XPON	Expion360	Pair Corr
0.75	STI	Solidion Technology	Pair Corr
0.67	VRT	Vertiv Holdings	Pair Corr
0.61	EOSEW	Eos Energy Enterprises	Pair Corr
0.8	HAYW	Hayward Holdings	Pair Corr
0.65	PITAW	Heramba Electric plc	Pair Corr
0.64	IPWR	Ideal Power	Pair Corr
0.68	LNKS	Linkers Industries	Pair Corr
0.77	ADSEW	ADS TEC ENERGY	Pair Corr
0.66	OESX	Orion Energy Systems	Pair Corr
0.78	OPTT	Ocean Power Technologies	Pair Corr
0.77	SLDPW	Solid Power	Pair Corr
0.79	PITA	Heramba Electric plc	Pair Corr

Moving against Energizer Stock

0.69	ELPW	Elong Power Holding	Pair Corr
0.48	ESP	Espey Mfg Electronics	Pair Corr
0.31	EPOW	Sunrise New Energy	Pair Corr
0.63	RAYA	Erayak Power Solution	Pair Corr

Related Correlations Analysis

	HOLI	AYI	ESP	PLPC	KE	NEOV	NVT	HUBB	AEIS
HOLI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	HOLI
AYI	0.0		-0.28	0.13	0.84	0.72	0.92	0.84	0.86	AYI
ESP	0.0	-0.28		0.25	-0.39	0.08	-0.02	0.15	-0.15	ESP
PLPC	0.0	0.13	0.25		0.11	-0.07	0.26	0.23	0.03	PLPC
KE	0.0	0.84	-0.39	0.11		0.65	0.75	0.56	0.86	KE
NEOV	0.0	0.72	0.08	-0.07	0.65		0.81	0.75	0.84	NEOV
NVT	0.0	0.92	-0.02	0.26	0.75	0.81		0.89	0.89	NVT
HUBB	0.0	0.84	0.15	0.23	0.56	0.75	0.89		0.74	HUBB
AEIS	0.0	0.86	-0.15	0.03	0.86	0.84	0.89	0.74		AEIS
	HOLI	AYI	ESP	PLPC	KE	NEOV	NVT	HUBB	AEIS

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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

NVT	+ 0.92	AYI
HUBB	+ 0.89	NVT
AEIS	+ 0.89	NVT
AEIS	+ 0.86	AYI
AEIS	+ 0.86	KE
KE	+ 0.84	AYI

High negative correlations

KE	- 0.39	ESP
ESP	- 0.28	AYI
AEIS	- 0.15	ESP
NEOV	- 0.07	PLPC
NVT	- 0.02	ESP
AEIS	- 0.0	HOLI

Risk-Adjusted Indicators

There is a big difference between Energizer Stock performing well and Energizer Holdings 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 Energizer Holdings' 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
HOLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AYI	1.79	(0.32)	0.00	(5.32)	0.00	0.00	3.95	(4.09)	15.02
ESP	1.96	0.17	0.12	1.47	2.14	(2.33)	5.31	(3.66)	15.86
PLPC	1.87	(0.07)	0.00	0.11	0.00	0.00	3.52	(3.91)	23.60
KE	1.91	(0.25)	0.00	0.73	0.00	0.00	2.79	(3.39)	17.18
NEOV	5.22	0.25	0.05	0.89	5.88	(5.79)	14.52	(9.16)	39.40
NVT	2.41	(0.06)	0.00	0.17	0.00	0.00	4.59	(5.83)	19.78
HUBB	1.81	(0.22)	0.00	0.75	0.00	0.00	3.43	(4.48)	16.37
AEIS	3.03	0.03	0.05	(0.18)	3.96	(3.22)	5.94	(5.77)	28.57

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