Which stocks are most correlated with MGEE?

Based on one year of daily returns, the stocks most correlated with MGE Energy Inc (MGEE) are LVHD (0.60), LNT (0.60) and FXU (0.60). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with MGEE?

Over the past year, the stocks most inversely correlated with MGE Energy Inc (MGEE) are SDP (-0.54), REK (-0.45) and DRV (-0.45). A negative correlation means the two stocks have tended to move in opposite directions.

MGE Energy Inc (MGEE) — Stock Correlations & Overview

Over the past year, MGEE has moved most closely with LVHD, LNT, FXU. Explore the stocks most correlated and inversely correlated with MGEE below, along with its price, financials, and company profile.

Stocks correlated with MGEE

Correlation of daily returns. Higher positive values move with MGEE; negative values move opposite it. Informational only, not investment advice.

Most correlated with MGEE

Symbol	Company	Correlation
LVHD	Franklin U.S. Low Volatility High Dividend Index ETF	0.60
LNT	Alliant Energy Corporation Common StockELECTRIC & OTHER SERVICES COMBINED	0.60
FXU	First Trust Utilities AlphaDEX Fund	0.60
SPLV	Invesco S&P 500 Low Volatility ETF	0.58
CMS	CMS Energy CorporationELECTRIC & OTHER SERVICES COMBINED	0.58

Most inversely correlated with MGEE

Symbol	Company	Correlation
SDP	ProShares UltraShort Utilities	-0.54
REK	ProShares Short Real Estate	-0.45
DRV	Direxion Daily Real Estate Bear 3X ETF	-0.45
SRS	ProShares UltraShort Real Estate	-0.45
SZK	ProShares UltraShort Consumer Staples	-0.41

Frequently asked questions about MGEE correlations

Which stocks are most correlated with MGEE?: Based on one year of daily returns, the stocks most correlated with MGE Energy Inc (MGEE) are LVHD (0.60), LNT (0.60) and FXU (0.60). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with MGEE?: Over the past year, the stocks most inversely correlated with MGE Energy Inc (MGEE) are SDP (-0.54), REK (-0.45) and DRV (-0.45). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these MGEE correlations calculated?: We compute the correlation of daily returns between MGEE and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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