Entergy Texas Correlations
| ETI-P Preferred Stock | | | USD 22.71 0.17 0.74% |
The current 90-days correlation between Entergy Texas and CMS Energy is 0.17 (i.e., Average diversification). The correlation of Entergy Texas 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.
Entergy Texas Correlation With Market
Modest diversification
The correlation between Entergy Texas and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entergy Texas and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Entergy Texas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Entergy Texas when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Entergy Texas - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Entergy Texas to buy it.
Moving together with Entergy Preferred Stock
Moving against Entergy Preferred Stock
Related Correlations Analysis
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 | SR-PA | | CMS-PC | | SR-PA | | DUK-PA | | DUK-PA | | CMS-PC | | SR-PA | | EBR-B |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Entergy Preferred Stock performing well and Entergy Texas 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 Entergy Texas' 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.
Be your own money manager
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Entergy Texas Corporate Management