Edison International Correlations
| EIX Stock | USD 72.42 0.08 0.11% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Edison International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edison International moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Edison International and NYA is 0.53 (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 NYA in the same portfolio, assuming nothing else is changed.
Edison |
The ability to find closely correlated positions to Edison International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edison International 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 Edison International - 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 Edison International to buy it.
Moving together with Edison Stock
| 0.95 | D | Dominion Energy | PairCorr |
| 0.77 | ED | Consolidated Edison | PairCorr |
| 0.83 | ES | Eversource Energy | PairCorr |
| 0.77 | FE | FirstEnergy | PairCorr |
| 0.91 | SO | Southern | PairCorr |
| 0.69 | ENIC | Enel Chile SA | PairCorr |
| 0.94 | EVRG | Evergy Common Stock Sell-off Trend | PairCorr |
| 0.95 | AEE | Ameren Corp Sell-off Trend | PairCorr |
| 0.84 | AEP | American Electric Power | PairCorr |
| 0.88 | AGR | Avangrid | PairCorr |
| 0.87 | CMS | CMS Energy | PairCorr |
| 0.81 | CNP | CenterPoint Energy Sell-off Trend | PairCorr |
| 0.82 | DTE | DTE Energy | PairCorr |
| 0.87 | DUK | Duke Energy Financial Report 14th of May 2024 | PairCorr |
Moving against Edison Stock
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in Edison International without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Edison International Corporate Directors
Edison International corporate directors refer to members of an Edison International board of directors. The board of directors generally takes responsibility for the Edison International's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Edison International's board members must vote for the resolution. The Edison International board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| James Morris | Independent Director | Profile | |
| Michael Camunez | Independent Director | Profile | |
| Chee Chang | Independent Director | Profile | |
| Keith Trent | Independent Director | Profile |
Already Invested in Edison International?
The danger of trading Edison International is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Edison International is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Edison International. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Edison International is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Edison International offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Edison International's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Edison International Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Edison International 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 tightly coupled 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.You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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When running Edison International's price analysis, check to measure Edison International's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Edison International is operating at the current time. Most of Edison International's value examination focuses on studying past and present price action to predict the probability of Edison International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Edison International's price. Additionally, you may evaluate how the addition of Edison International to your portfolios can decrease your overall portfolio volatility.
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Is Edison International's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Edison International. If investors know Edison will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Edison International listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.09) | Dividend Share 3.035 | Earnings Share 2.27 | Revenue Per Share 42.894 | Quarterly Revenue Growth 0.028 |
The market value of Edison International is measured differently than its book value, which is the value of Edison that is recorded on the company's balance sheet. Investors also form their own opinion of Edison International's value that differs from its market value or its book value, called intrinsic value, which is Edison International's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Edison International's market value can be influenced by many factors that don't directly affect Edison International's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Edison International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Edison International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Edison International's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.