Southern Correlations

SOJF Stock

25.46 0.02 0.08%

The current 90-days correlation between Southern and Cementos Pacasmayo SAA is -0.14 (i.e., Good diversification). The correlation of Southern 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.

Southern Correlation With Market

Average diversification

The correlation between The Southern and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Southern and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Southern Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in The Southern. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Southern Stock

0.62	NI	NiSource	Pair Corr
0.77	VG	Venture Global,	Pair Corr
0.64	CMS-PC	CMS Energy Earnings Call This Week	Pair Corr
0.74	ENLT	Enlight Renewable Energy	Pair Corr
0.66	EVRG	Evergy,	Pair Corr
0.72	BEP	Brookfield Renewable	Pair Corr
0.72	CIG	Companhia Energetica	Pair Corr

Moving against Southern Stock

0.63	FE	FirstEnergy	Pair Corr
0.58	ED	Consolidated Edison	Pair Corr
0.56	WTRG	Essential Utilities	Pair Corr
0.44	DUKB	Duke Energy Corp	Pair Corr
0.81	EDN	Empresa Distribuidora	Pair Corr
0.68	CQP	Cheniere Energy Partners	Pair Corr
0.61	BKH	Black Hills	Pair Corr
0.51	CNP	CenterPoint Energy	Pair Corr
0.49	CWT	California Water Service	Pair Corr
0.46	AVA	Avista	Pair Corr
0.4	CMS	CMS Energy Earnings Call This Week	Pair Corr
0.31	AWR	American States Water	Pair Corr

Related Correlations Analysis

	CPAC	HOUR	SCL	IAC	TTAM	ACLS	DK
CPAC		0.67	0.78	0.71	0.27	0.86	0.89	CPAC
HOUR	0.67		0.58	0.81	0.21	0.67	0.72	HOUR
SCL	0.78	0.58		0.85	0.53	0.9	0.86	SCL
IAC	0.71	0.81	0.85		0.52	0.85	0.85	IAC
TTAM	0.27	0.21	0.53	0.52		0.32	0.36	TTAM
ACLS	0.86	0.67	0.9	0.85	0.32		0.93	ACLS
DK	0.89	0.72	0.86	0.85	0.36	0.93		DK
	CPAC	HOUR	SCL	IAC	TTAM	ACLS	DK

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Risk-Adjusted Indicators

There is a big difference between Southern Stock performing well and Southern 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 Southern'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
CPAC	1.17	0.23	0.04	(1.57)	1.38	(1.32)	3.19	(2.92)	9.68
HOUR	3.65	0.51	0.12	0.86	3.62	(4.49)	10.74	(5.38)	23.67
SCL	1.61	0.10	0.08	0.21	1.43	(1.93)	3.97	(2.58)	10.46
IAC	1.57	0.14	0.11	0.24	1.32	(1.96)	4.12	(2.57)	8.84
TTAM	1.81	0.15	0.07	0.28	1.78	(2.13)	3.84	(3.34)	11.76
ACLS	2.33	0.44	0.20	0.41	2.18	(2.73)	6.44	(4.54)	13.36
DK	2.57	1.00	0.37	1.41	1.82	(3.20)	8.37	(3.86)	16.01

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