Eversource Energy Correlations
| ES Stock | USD 59.46 1.06 1.75% |
The correlation of Eversource 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eversource Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eversource Energy 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 Eversource Energy and NYA is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eversource Energy and NYA in the same portfolio, assuming nothing else is changed.
Eversource |
The ability to find closely correlated positions to Eversource Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eversource Energy 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 Eversource Energy - 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 Eversource Energy to buy it.
Moving together with Eversource Stock
| 0.86 | D | Dominion Energy Financial Report 3rd of May 2024 | PairCorr |
| 0.78 | FE | FirstEnergy | PairCorr |
| 0.64 | SO | Southern | PairCorr |
| 0.71 | EVRG | Evergy Common Stock Financial Report 3rd of May 2024 | PairCorr |
| 0.9 | AEE | Ameren Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.93 | AEP | American Electric Power Earnings Call This Week | PairCorr |
| 0.82 | AGR | Avangrid | PairCorr |
| 0.85 | CMS | CMS Energy Earnings Call This Week | PairCorr |
| 0.71 | CNP | CenterPoint Energy Earnings Call This Week | PairCorr |
| 0.86 | DTE | DTE Energy Earnings Call This Week | PairCorr |
Moving against Eversource Stock
| 0.75 | HE | Hawaiian Electric Downward Rally | PairCorr |
| 0.52 | EDN | Empresa Distribuidora Financial Report 9th of May 2024 | PairCorr |
| 0.48 | CMS-PC | CMS Energy | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Eversource Stock performing well and Eversource 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 Eversource 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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Eversource Energy 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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Eversource Energy Corporate Management
Elected by the shareholders, the Eversource Energy's board of directors comprises two types of representatives: Eversource Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eversource. The board's role is to monitor Eversource Energy's management team and ensure that shareholders' interests are well served. Eversource Energy's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eversource Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Sanford Cloud | Lead Independent Trustee | Profile | |
| John Clarkeson | Independent Trustee | Profile | |
| Dennis Wraase | Independent Trustee | Profile | |
| Susan Sgroi | Executive Technology | Profile |
Already Invested in Eversource Energy?
The danger of trading Eversource Energy 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 Eversource Energy 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 Eversource Energy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Eversource Energy 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 Eversource Energy is a strong investment it is important to analyze Eversource Energy's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Eversource Energy's future performance. For an informed investment choice regarding Eversource Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eversource Energy. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in state. For more information on how to buy Eversource Stock please use our How to Invest in Eversource Energy guide.You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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When running Eversource Energy's price analysis, check to measure Eversource Energy'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 Eversource Energy is operating at the current time. Most of Eversource Energy's value examination focuses on studying past and present price action to predict the probability of Eversource Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eversource Energy's price. Additionally, you may evaluate how the addition of Eversource Energy to your portfolios can decrease your overall portfolio volatility.
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Is Eversource Energy'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 Eversource Energy. If investors know Eversource 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 Eversource Energy 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 (0.03) | Dividend Share 2.7 | Earnings Share (1.27) | Revenue Per Share 34.071 | Quarterly Revenue Growth (0.11) |
The market value of Eversource Energy is measured differently than its book value, which is the value of Eversource that is recorded on the company's balance sheet. Investors also form their own opinion of Eversource Energy's value that differs from its market value or its book value, called intrinsic value, which is Eversource Energy'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 Eversource Energy's market value can be influenced by many factors that don't directly affect Eversource Energy'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 Eversource Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eversource Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eversource Energy'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.