KYUSHU EL Correlations

2CJ Stock

EUR 8.20 0.15 1.86%

The current 90-days correlation between KYUSHU EL PWR and Companhia Energtica de is 0.18 (i.e., Average diversification). The correlation of KYUSHU EL 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.

KYUSHU EL Correlation With Market

Good diversification

The correlation between KYUSHU EL PWR and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KYUSHU EL PWR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KYUSHU Stock

0.85	SCTA	SSE PLC ADR	Pair Corr
0.67	ELP1	C PARAN EN	Pair Corr
0.83	EVN	EVN AG	Pair Corr
0.71	HO1	Hologic	Pair Corr

Moving against KYUSHU Stock

0.8	YMI	Yellow Pages Limited	Pair Corr
0.78	55O1	MidCap Financial Inv	Pair Corr
0.74	AW8	Air Transport Services	Pair Corr
0.67	SLT	SCHALTBAU HOLDING	Pair Corr
0.64	CIDS	CIA ENGER ADR	Pair Corr
0.6	YC3	CONCORDIA FINL GROUP	Pair Corr
0.39	CIDA	Companhia Energética	Pair Corr
0.85	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.83	ZSL	SLR Investment Corp	Pair Corr
0.79	CE1	Perdoceo Education	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.74	31F	MEDICAL FACILITIES NEW	Pair Corr
0.72	NH5	NH HOTEL GROUP	Pair Corr
0.7	MSF	Microsoft	Pair Corr
0.69	SDP	Summit Hotel Properties	Pair Corr
0.67	9GY	USWE SPORTS AB	Pair Corr
0.66	AIR	Airbus SE	Pair Corr
0.64	MTX	MTU Aero Engines	Pair Corr
0.61	IFX	Infineon Technologies	Pair Corr
0.58	CAC1	Casio Computer CoLtd	Pair Corr
0.4	CEK	CEOTRONICS (CEKSG)	Pair Corr
0.75	PL0	Playa Hotels Resorts	Pair Corr
0.72	DSG	DICKS Sporting Goods	Pair Corr
0.72	NU42	Ribbon Communications	Pair Corr
0.67	CFC	UET United Electronic	Pair Corr
0.62	22F	Firan Technology	Pair Corr
0.61	FOO0	SALESFORCE INC CDR	Pair Corr

Related Correlations Analysis

	IBE5	SCTA	ELP1	CIDS	CIDA	EVN	2CJ	T8T
IBE5		0.67	0.48	-0.44	0.16	0.58	0.53	0.06	IBE5
SCTA	0.67		0.78	-0.74	-0.27	0.88	0.85	0.4	SCTA
ELP1	0.48	0.78		-0.63	-0.14	0.82	0.67	0.31	ELP1
CIDS	-0.44	-0.74	-0.63		0.4	-0.72	-0.64	-0.22	CIDS
CIDA	0.16	-0.27	-0.14	0.4		-0.24	-0.39	-0.06	CIDA
EVN	0.58	0.88	0.82	-0.72	-0.24		0.83	0.23	EVN
2CJ	0.53	0.85	0.67	-0.64	-0.39	0.83		0.15	2CJ
T8T	0.06	0.4	0.31	-0.22	-0.06	0.23	0.15		T8T
	IBE5	SCTA	ELP1	CIDS	CIDA	EVN	2CJ	T8T

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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

EVN	+ 0.88	SCTA
2CJ	+ 0.85	SCTA
2CJ	+ 0.83	EVN
EVN	+ 0.82	ELP1
ELP1	+ 0.78	SCTA
SCTA	+ 0.67	IBE5

High negative correlations

CIDS	- 0.74	SCTA
EVN	- 0.72	CIDS
2CJ	- 0.64	CIDS
CIDS	- 0.63	ELP1
CIDS	- 0.44	IBE5
2CJ	- 0.39	CIDA

Risk-Adjusted Indicators

There is a big difference between KYUSHU Stock performing well and KYUSHU EL 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 KYUSHU EL'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
IBE5	1.00	(0.03)	0.00	(0.88)	0.00	0.00	1.87	(2.74)	7.33
SCTA	1.12	(0.22)	0.00	(1.82)	0.00	0.00	2.70	(2.60)	8.52
ELP1	1.57	(0.17)	0.00	0.59	0.00	0.00	3.33	(4.44)	11.29
CIDS	0.50	0.03	0.01	1.59	0.60	(1.89)	1.93	(1.90)	6.73
CIDA	3.25	0.20	0.04	0.39	3.92	(4.06)	9.04	(7.69)	20.78
EVN	1.18	(0.23)	0.00	0.66	0.00	0.00	2.48	(2.11)	12.20
2CJ	1.91	(0.23)	0.00	0.56	0.00	0.00	3.59	(3.85)	16.46
T8T	1.84	(0.04)	0.00	(0.07)	0.00	0.00	4.90	(3.71)	11.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in KYUSHU EL 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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