Clover Power Correlations

CV Stock

0.16 0.01 5.88%

The current 90-days correlation between Clover Power PCL and Delta Electronics Public is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Clover Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Clover Power PCL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Clover Power Correlation With Market

Good diversification

The correlation between Clover Power PCL and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clover Power PCL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Clover Stock

0.75	AOT	Airports of Thailand	Pair Corr
0.79	PTT	PTT Public	Pair Corr
0.79	PTT-R	PTT Public	Pair Corr
0.84	PTTEP	PTT Exploration	Pair Corr

Moving against Clover Stock

0.82	DELTA	Delta Electronics Public	Pair Corr
0.69	EE	Eternal Energy Public	Pair Corr
0.62	COM7	Com7 PCL	Pair Corr
0.61	ADVANC	Advanced Info Service	Pair Corr
0.59	SAM	Samchai Steel Industries	Pair Corr
0.43	TIPCO	Tipco Foods Public	Pair Corr
0.43	RCL-R	Regional Container Lines	Pair Corr
0.31	TRU	Thai Rung Union	Pair Corr

Related Correlations Analysis

	DELTA-R	DELTA	AOT-R	AOT	PTT	PTT-R	INTUCH-R	PTTEP
DELTA-R		0.08	-0.08	-0.1	-0.23	-0.23	-0.06	-0.18	DELTA-R
DELTA	0.08		-0.22	-0.82	-0.67	-0.67	0.2	-0.76	DELTA
AOT-R	-0.08	-0.22		0.14	0.3	0.3	-0.17	0.25	AOT-R
AOT	-0.1	-0.82	0.14		0.65	0.65	0.03	0.75	AOT
PTT	-0.23	-0.67	0.3	0.65		1.0	0.29	0.67	PTT
PTT-R	-0.23	-0.67	0.3	0.65	1.0		0.29	0.67	PTT-R
INTUCH-R	-0.06	0.2	-0.17	0.03	0.29	0.29		-0.23	INTUCH-R
PTTEP	-0.18	-0.76	0.25	0.75	0.67	0.67	-0.23		PTTEP
	DELTA-R	DELTA	AOT-R	AOT	PTT	PTT-R	INTUCH-R	PTTEP

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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

PTT-R	+ 1.0	PTT
PTTEP	+ 0.75	AOT
PTTEP	+ 0.67	PTT
PTTEP	+ 0.67	PTT-R
PTT	+ 0.65	AOT
PTT-R	+ 0.65	AOT

High negative correlations

AOT	- 0.82	DELTA
PTTEP	- 0.76	DELTA
PTT-R	- 0.67	DELTA
PTT	- 0.67	DELTA
PTTEP	- 0.23	INTUCH-R
PTT-R	- 0.23	DELTA-R

Risk-Adjusted Indicators

There is a big difference between Clover Stock performing well and Clover Power 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 Clover Power'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
DELTA-R	1.54	0.74	0.00	0.72	0.00	0.00	0.00	0.00	0.00
DELTA	1.85	0.53	0.13	3.20	2.99	(2.32)	4.83	(2.28)	22.88
AOT-R	0.65	(0.24)	0.00	(1.40)	0.00	0.00	1.27	(1.29)	15.02
AOT	0.79	(0.04)	0.00	(1.02)	0.00	0.00	1.65	(1.67)	5.80
PTT	0.78	(0.09)	0.00	(0.42)	0.00	0.00	2.24	(1.55)	5.37
PTT-R	0.78	(0.09)	0.00	(0.42)	0.00	0.00	2.24	(1.55)	5.37
INTUCH-R	1.57	0.10	0.03	0.51	2.00	(1.74)	3.55	(3.50)	11.96
PTTEP	1.09	(0.21)	0.00	(13.98)	0.00	0.00	2.55	(2.47)	6.55

Clover Power Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Clover Power stock to make a market-neutral strategy. Peer analysis of Clover Power could also be used in its relative valuation, which is a method of valuing Clover Power by comparing valuation metrics with similar companies.

Delta Electronics Public Delta Electronics Public Airports of Thailand Airports of Thailand PTT Public PTT Public Intouch Holdings Public PTT Exploration and American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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