C PARAN Correlations

ELP1 Stock

EUR 5.60 0.15 2.75%

The current 90-days correlation between C PARAN EN and MOLSON RS BEVERAGE is -0.03 (i.e., Good diversification). The correlation of C PARAN 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.

C PARAN Correlation With Market

Good diversification

The correlation between C PARAN EN and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding C PARAN EN and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ELP1 Stock

0.8	SCTA	SSE PLC ADR	Pair Corr
0.85	EVN	EVN AG	Pair Corr
0.63	2CJ	KYUSHU EL PWR	Pair Corr
0.81	YHA	Yamaha Split	Pair Corr
0.64	5FV	YAOKO LTD	Pair Corr

Moving against ELP1 Stock

0.84	BFP	BBVA Banco Frances	Pair Corr
0.81	5F3	JINS HOLDINGS INC	Pair Corr
0.65	TM2	Sydbank AS	Pair Corr
0.58	SON1	Sony Group Corp	Pair Corr
0.39	92I	ROMERIKE SPAREBANK	Pair Corr
0.8	ATR0	ATHENE HOLDING PRFSERC	Pair Corr
0.77	TL0	Tesla Inc	Pair Corr
0.77	MAQ	Marriott International	Pair Corr
0.75	2KD	Kinder Morgan	Pair Corr
0.73	EMR	EMERSON ELECTRIC	Pair Corr
0.69	89W	GRUPO ECOENER EO	Pair Corr
0.67	MNL	Gruppo Mutuionline SpA	Pair Corr
0.62	P5Y	BRF SA	Pair Corr
0.58	NOAA	Nokia	Pair Corr
0.57	DBK	Deutsche Bank Aktien	Pair Corr
0.48	1DH	Clarkson PLC	Pair Corr
0.32	WW6	WGHT WTCHER INTL	Pair Corr
0.32	5AM	Hastings Technology	Pair Corr
0.79	GM0N	GLOBUS MEDICAL A	Pair Corr
0.78	SOBA	ATT Inc	Pair Corr
0.77	GTX	Gentex	Pair Corr
0.76	HU3	Huntington Bancshares	Pair Corr

Related Correlations Analysis

	AFG	NY70	TF7A	TQ4	MTE	AZU	5RU	CVB
AFG		-0.67	-0.5	0.0	0.06	0.04	0.0	0.68	AFG
NY70	-0.67		0.84	0.0	0.16	-0.2	0.0	-0.89	NY70
TF7A	-0.5	0.84		0.0	0.01	-0.25	0.0	-0.79	TF7A
TQ4	0.0	0.0	0.0		0.0	0.0	-1.0	0.0	TQ4
MTE	0.06	0.16	0.01	0.0		0.39	0.0	-0.02	MTE
AZU	0.04	-0.2	-0.25	0.0	0.39		0.0	0.21	AZU
5RU	0.0	0.0	0.0	-1.0	0.0	0.0		0.0	5RU
CVB	0.68	-0.89	-0.79	0.0	-0.02	0.21	0.0		CVB
	AFG	NY70	TF7A	TQ4	MTE	AZU	5RU	CVB

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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

TF7A	+ 0.84	NY70
CVB	+ 0.68	AFG
AZU	+ 0.39	MTE
CVB	+ 0.21	AZU
MTE	+ 0.16	NY70
MTE	+ 0.06	AFG

High negative correlations

5RU	- 1.0	TQ4
CVB	- 0.89	NY70
CVB	- 0.79	TF7A
NY70	- 0.67	AFG
TF7A	- 0.5	AFG
AZU	- 0.25	TF7A

Risk-Adjusted Indicators

There is a big difference between ELP1 Stock performing well and C PARAN 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 C PARAN'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
AFG	2.03	(0.14)	0.00	(0.21)	0.00	0.00	5.36	(3.37)	18.58
NY70	1.03	0.19	0.06	22.45	1.21	(1.89)	3.60	(2.89)	10.52
TF7A	1.34	0.05	0.03	0.13	1.32	(1.71)	3.53	(2.01)	6.86
TQ4	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MTE	2.58	0.12	0.03	0.56	3.92	(2.57)	5.66	(3.89)	30.83
AZU	0.66	(0.02)	0.00	(0.30)	0.00	0.00	1.75	(1.37)	4.25
5RU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVB	1.00	(0.23)	0.00	(1.00)	0.00	0.00	4.76	(5.00)	10.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in C PARAN 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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