NiSource Correlations
| NOU Stock | EUR 26.40 0.60 2.33% |
The correlation of NiSource 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 NiSource moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NiSource 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.
Good diversification
The correlation between NiSource and NYA is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NiSource and NYA in the same portfolio, assuming nothing else is changed.
NiSource |
The ability to find closely correlated positions to NiSource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NiSource 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 NiSource - 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 NiSource to buy it.
Moving together with NiSource Stock
| 0.76 | HOU | CenterPoint Energy | PairCorr |
| 0.69 | XGH | ENN Energy Holdings | PairCorr |
| 0.7 | XGH | ENN Energy Holdings | PairCorr |
| 0.93 | AEO | Atmos Energy Earnings Call This Week | PairCorr |
| 0.66 | TOG | Tokyo Gas CoLtd | PairCorr |
Moving against NiSource Stock
| 0.71 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.59 | E908 | Lyxor 1 | PairCorr |
| 0.58 | SNM | Snam SpA | PairCorr |
| 0.57 | BYRA | PT Bank Rakyat | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between NiSource Stock performing well and NiSource 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 NiSource'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HOU | 0.88 | 0.10 | 0.04 | 0.43 | 0.85 | 2.33 | 6.36 | |||
| XGH | 3.27 | 0.45 | 0.09 | (0.53) | 3.15 | 7.69 | 25.46 | |||
| AEO | 0.66 | 0.08 | 0.02 | (3.25) | 0.59 | 1.56 | 3.98 | |||
| LGX1 | 1.71 | 0.21 | 0.04 | (0.56) | 2.01 | 3.85 | 14.14 | |||
| TOG | 1.84 | 0.05 | 0.00 | 0.46 | 2.47 | 3.92 | 15.51 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NiSource 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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Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
| All Next | Launch Module |
NiSource Corporate Management
Elected by the shareholders, the NiSource's board of directors comprises two types of representatives: NiSource inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NiSource. The board's role is to monitor NiSource's management team and ensure that shareholders' interests are well served. NiSource'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, NiSource's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Randy Hulen | VP Treasury | Profile | |
| William Jefferson | Ex Officer | Profile | |
| Donald Brown | Ex CFO | Profile | |
| Shawn Anderson | VP Officer | Profile | |
| Gunnar Gode | Chief VP | Profile | |
| Charles Bankston | VP Officer | Profile | |
| Lloyd Yates | CEO Pres | Profile |
Already Invested in NiSource?
The danger of trading NiSource 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 NiSource 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 NiSource. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile NiSource 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 NiSource offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of NiSource'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 Nisource Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Nisource Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NiSource. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more detail on how to invest in NiSource Stock please use our How to Invest in NiSource guide.You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Complementary Tools for NiSource Stock analysis
When running NiSource's price analysis, check to measure NiSource'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 NiSource is operating at the current time. Most of NiSource's value examination focuses on studying past and present price action to predict the probability of NiSource's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NiSource's price. Additionally, you may evaluate how the addition of NiSource to your portfolios can decrease your overall portfolio volatility.
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