Gaztransport Technigaz Correlations

9TG Stock  EUR 141.40  0.20  0.14%   
The current 90-days correlation between Gaztransport Technigaz and CompuGroup Medical SE is 0.16 (i.e., Average diversification). The correlation of Gaztransport Technigaz 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.

Gaztransport Technigaz Correlation With Market

Significant diversification

The correlation between Gaztransport Technigaz SA and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gaztransport Technigaz SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Gaztransport Technigaz could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gaztransport Technigaz 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 Gaztransport Technigaz - 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 Gaztransport Technigaz SA to buy it.

Moving together with Gaztransport Stock

  0.62SCL Schlumberger LimitedPairCorr
  0.64HAL HalliburtonPairCorr
  0.64HAL HalliburtonPairCorr
  0.8168V Baker HughesPairCorr
  0.77TW1 Tenaris SAPairCorr
  0.821T1 TechnipFMC PLCPairCorr

Moving against Gaztransport Stock

  0.79PQ9 BANK MANDIRIPairCorr
  0.77PQ9 PT Bank MandiriPairCorr
  0.75PQ9 BANK MANDIRIPairCorr
  0.73BYRA BANK RAKYAT INDPairCorr
  0.66BYRA PT Bank RakyatPairCorr
  0.62BYRA PT Bank RakyatPairCorr
  0.53BYRA BANK RAKYAT INDPairCorr
  0.35BZG2 BANK CENTRAL ASIAPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
31F3AM
MNLCOP
MNL31F
MNL3AM
CY9D31F
CY9D3AM
  
High negative correlations   
MNLCLM
CLMCOP
31FCLM
CLM3AM
MNLDPD3
DPD3CY9D

Risk-Adjusted Indicators

There is a big difference between Gaztransport Stock performing well and Gaztransport Technigaz 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 Gaztransport Technigaz'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gaztransport Technigaz 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.

Did you try this?

Run Price Ceiling Movement Now

   

Price Ceiling Movement

Calculate and plot Price Ceiling Movement for different equity instruments
All  Next Launch Module

Gaztransport Technigaz Corporate Management

Elected by the shareholders, the Gaztransport Technigaz's board of directors comprises two types of representatives: Gaztransport Technigaz inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gaztransport. The board's role is to monitor Gaztransport Technigaz's management team and ensure that shareholders' interests are well served. Gaztransport Technigaz's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Gaztransport Technigaz's outside directors are responsible for providing unbiased perspectives on the board's policies.