| CPA Stock | | | USD 93.37 0.02 0.02% |
The current 90-days correlation between Copa Holdings SA and Werner Enterprises is 0.11 (i.e., Average diversification). The correlation of Copa Holdings 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.
Copa Holdings Correlation With Market
Average diversification
The correlation between Copa Holdings SA and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Copa Holdings SA and DJI in the same portfolio, assuming nothing else is changed.
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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 | | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Copa Stock performing well and Copa Holdings 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 Copa Holdings' 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.