NRG Energy Correlations

NRG Stock

USD 146.88 4.18 2.77%

The current 90-days correlation between NRG Energy and AGL Energy is 0.19 (i.e., Average diversification). The correlation of NRG 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.

NRG Energy Correlation With Market

Poor diversification

The correlation between NRG Energy and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NRG Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NRG Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NRG 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 metropolitan statistical area.

For more detail on how to invest in NRG Stock please use our How to Invest in NRG Energy guide.

Moving together with NRG Stock

0.73	KEN	Kenon Holdings	Pair Corr
0.69	TAC	TransAlta Corp	Pair Corr
0.88	VST	Vistra Energy Corp	Pair Corr
0.66	DGXX	Digi Power X Symbol Change	Pair Corr
0.82	D	Dominion Energy	Pair Corr
0.92	ES	Eversource Energy	Pair Corr
0.71	HE	Hawaiian Electric	Pair Corr
0.73	RNWWW	ReNew Energy Global	Pair Corr
0.93	ELPC	Companhia Paranaense Downward Rally	Pair Corr
0.82	ENIC	Enel Chile SA Earnings Call This Week	Pair Corr
0.74	ENLT	Enlight Renewable Energy	Pair Corr
0.77	AQN	Algonquin Power Utilities	Pair Corr
0.83	BEP	Brookfield Renewable	Pair Corr
0.95	BIP	Brookfield Infrastructure	Pair Corr
0.96	CEG	Constellation Energy Corp	Pair Corr
0.83	CIG	Companhia Energetica	Pair Corr

Moving against NRG Stock

0.84	ED	Consolidated Edison	Pair Corr
0.65	SR	Spire Inc	Pair Corr
0.65	WTRG	Essential Utilities	Pair Corr
0.53	AEP	American Electric Power	Pair Corr
0.51	AEE	Ameren Corp	Pair Corr
0.36	CMS-PB	Consumers Energy	Pair Corr
0.86	CPK	Chesapeake Utilities	Pair Corr
0.84	CWT	California Water Service	Pair Corr
0.83	EXC	Exelon	Pair Corr
0.81	AVA	Avista	Pair Corr
0.7	CMS	CMS Energy	Pair Corr
0.61	AWK	American Water Works	Pair Corr
0.59	BKH	Black Hills	Pair Corr
0.59	DUK	Duke Energy	Pair Corr
0.43	EIX	Edison International	Pair Corr

Related Correlations Analysis

	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF
TAC		0.84	-0.3	-0.12	0.9	0.57	0.92	0.73	TAC
KEN	0.84		-0.24	-0.15	0.93	0.56	0.81	0.81	KEN
PAM	-0.3	-0.24		0.37	-0.12	0.04	-0.21	0.03	PAM
AGLXY	-0.12	-0.15	0.37		0.04	0.48	-0.06	-0.01	AGLXY
VST	0.9	0.93	-0.12	0.04		0.71	0.88	0.8	VST
HGKGY	0.57	0.56	0.04	0.48	0.71		0.53	0.67	HGKGY
MXGFF	0.92	0.81	-0.21	-0.06	0.88	0.53		0.65	MXGFF
HUNGF	0.73	0.81	0.03	-0.01	0.8	0.67	0.65		HUNGF
	TAC	KEN	PAM	AGLXY	VST	HGKGY	MXGFF	HUNGF

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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

VST	+ 0.93	KEN
MXGFF	+ 0.92	TAC
VST	+ 0.9	TAC
MXGFF	+ 0.88	VST
KEN	+ 0.84	TAC
MXGFF	+ 0.81	KEN

High negative correlations

PAM	- 0.3	TAC
PAM	- 0.24	KEN
MXGFF	- 0.21	PAM
AGLXY	- 0.15	KEN
VST	- 0.12	PAM
AGLXY	- 0.12	TAC

Risk-Adjusted Indicators

There is a big difference between NRG Stock performing well and NRG 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 NRG 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
TAC	1.86	0.32	0.13	0.59	1.96	(1.99)	5.06	(3.51)	14.24
KEN	1.73	0.56	0.22	0.96	1.51	(1.92)	4.35	(2.50)	13.03
PAM	2.60	(0.09)	(0.01)	0.18	2.72	(3.00)	7.71	(4.64)	17.27
AGLXY	1.56	0.02	(0.07)	0.32	1.83	(1.93)	3.58	(3.38)	9.34
VST	2.40	0.60	0.26	0.60	2.16	(2.77)	6.09	(3.66)	23.19
HGKGY	1.53	0.18	(0.05)	(0.54)	2.31	(1.57)	4.10	(3.06)	15.28
MXGFF	0.96	0.18	(0.01)	1.50	1.18	(2.66)	3.16	(2.90)	13.70
HUNGF	1.37	0.34	0.02	8.12	1.37	(5.39)	5.17	(3.33)	17.55

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