Chemtrade Logistics Correlations

CGIFF Stock

USD 7.58 0.21 2.70%

The current 90-days correlation between Chemtrade Logistics and Enersys is 0.14 (i.e., Average diversification). The correlation of Chemtrade Logistics 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.

Chemtrade Logistics Correlation With Market

Average diversification

The correlation between Chemtrade Logistics Income 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 Chemtrade Logistics Income and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Chemtrade Logistics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Chemtrade Logistics 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 Chemtrade Logistics - 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 Chemtrade Logistics Income to buy it.

Moving together with Chemtrade Pink Sheet

0.68	GNENY	Ganfeng Lithium	Pair Corr
0.68	GNENF	Ganfeng Lithium	Pair Corr
0.66	APLD	Applied Blockchain	Pair Corr

Moving against Chemtrade Pink Sheet

0.54	SWZNF	Schweizerische Nationalbank	Pair Corr
0.45	PKX	POSCO Holdings	Pair Corr
0.42	HYMTF	Hyundai Motor	Pair Corr
0.32	BFFAF	BASF SE NA	Pair Corr
0.31	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	SPCB	FOSYF	ENS	CECO	GOCO	ORI	J	SPNT
SPCB		0.35	0.26	-0.02	-0.25	-0.04	-0.27	-0.03	SPCB
FOSYF	0.35		0.25	0.1	-0.45	-0.14	-0.11	-0.08	FOSYF
ENS	0.26	0.25		-0.47	-0.55	-0.51	-0.22	-0.63	ENS
CECO	-0.02	0.1	-0.47		0.05	0.62	-0.25	0.88	CECO
GOCO	-0.25	-0.45	-0.55	0.05		0.54	0.61	0.34	GOCO
ORI	-0.04	-0.14	-0.51	0.62	0.54		0.28	0.83	ORI
J	-0.27	-0.11	-0.22	-0.25	0.61	0.28		-0.07	J
SPNT	-0.03	-0.08	-0.63	0.88	0.34	0.83	-0.07		SPNT
	SPCB	FOSYF	ENS	CECO	GOCO	ORI	J	SPNT

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SPNT	+ 0.88	CECO
SPNT	+ 0.83	ORI
ORI	+ 0.62	CECO
J	+ 0.61	GOCO
ORI	+ 0.54	GOCO
FOSYF	+ 0.35	SPCB

High negative correlations

SPNT	- 0.63	ENS
GOCO	- 0.55	ENS
ORI	- 0.51	ENS
CECO	- 0.47	ENS
GOCO	- 0.45	FOSYF
J	- 0.27	SPCB

Risk-Adjusted Indicators

There is a big difference between Chemtrade Pink Sheet performing well and Chemtrade Logistics 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 Chemtrade Logistics' 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
SPCB	3.66	0.18	0.03	(1.40)	4.38	(3.85)	9.12	(7.65)	19.42
FOSYF	3.32	0.23	0.05	0.25	3.23	(5.47)	9.43	(5.88)	27.98
ENS	1.24	(0.12)	0.00	(0.12)	0.00	0.00	2.61	(2.32)	8.89
CECO	2.32	0.07	0.03	0.05	3.24	(2.51)	4.73	(3.21)	18.98
GOCO	3.60	0.64	0.18	(4.59)	3.16	(4.47)	9.12	(5.47)	17.48
ORI	0.92	0.00	0.00	0.02	1.40	(0.85)	1.93	(2.42)	7.51
J	1.03	0.16	0.08	0.47	1.52	(1.04)	2.41	(1.88)	9.97
SPNT	1.40	0.02	0.02	0.03	1.90	(1.46)	2.68	(3.01)	13.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chemtrade Logistics 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.

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