CENTRAL PUERTO Correlations

C3TA Stock

EUR 13.80 0.80 6.15%

The current 90-days correlation between CENTRAL PUERTO ADR1 and China Communications Services is -0.1 (i.e., Good diversification). The correlation of CENTRAL PUERTO 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.

CENTRAL PUERTO Correlation With Market

Good diversification

The correlation between CENTRAL PUERTO ADR1 and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CENTRAL PUERTO ADR1 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CENTRAL PUERTO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CENTRAL PUERTO 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 CENTRAL PUERTO - 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 CENTRAL PUERTO ADR1 to buy it.

Moving together with CENTRAL Stock

0.9	WIC	WEC Energy Group	Pair Corr
0.71	ENAA	ENDESA ADR 12	Pair Corr
0.61	CSG	CMS Energy	Pair Corr
0.75	355	Enel Chile SA	Pair Corr
0.64	ECEA	SENERELECSPGDR REGS	Pair Corr
0.9	BRYN	Berkshire Hathaway	Pair Corr
0.89	BRYN	Berkshire Hathaway	Pair Corr
0.86	SAP	SAP SE	Pair Corr
0.63	E6Q	GOLD ROAD RES	Pair Corr
0.74	UF2	Sunstone Hotel Investors	Pair Corr
0.91	BN9	The Bank	Pair Corr
0.92	8II	PLAYTIKA HOLDING	Pair Corr

Moving against CENTRAL Stock

0.8	SSU	Samsung Electronics	Pair Corr
0.78	HYU	Hyundai Motor	Pair Corr
0.75	SSUN	Samsung Electronics	Pair Corr
0.51	5JT	INNOVATEC SPA	Pair Corr
0.5	BRH	Berkshire Hathaway	Pair Corr
0.93	PKX	POSCO Holdings	Pair Corr
0.49	C4X	Onxeo SA	Pair Corr
0.42	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CMW	UR3	6IC	KMBA	COA1	CQD	ALG	C8C
CMW		0.62	0.71	-0.15	-0.23	0.2	0.65	0.48	CMW
UR3	0.62		0.72	0.15	-0.6	0.73	0.79	0.85	UR3
6IC	0.71	0.72		0.03	-0.2	0.33	0.64	0.57	6IC
KMBA	-0.15	0.15	0.03		-0.26	0.21	-0.13	0.28	KMBA
COA1	-0.23	-0.6	-0.2	-0.26		-0.8	-0.35	-0.8	COA1
CQD	0.2	0.73	0.33	0.21	-0.8		0.49	0.84	CQD
ALG	0.65	0.79	0.64	-0.13	-0.35	0.49		0.6	ALG
C8C	0.48	0.85	0.57	0.28	-0.8	0.84	0.6		C8C
	CMW	UR3	6IC	KMBA	COA1	CQD	ALG	C8C

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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

C8C	+ 0.85	UR3
C8C	+ 0.84	CQD
ALG	+ 0.79	UR3
CQD	+ 0.73	UR3
6IC	+ 0.72	UR3
6IC	+ 0.71	CMW

High negative correlations

C8C	- 0.8	COA1
CQD	- 0.8	COA1
COA1	- 0.6	UR3
ALG	- 0.35	COA1
COA1	- 0.26	KMBA
COA1	- 0.23	CMW

Risk-Adjusted Indicators

There is a big difference between CENTRAL Stock performing well and CENTRAL PUERTO 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 CENTRAL PUERTO'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
CMW	1.70	0.33	0.08	(1.59)	1.50	(2.76)	4.00	(2.08)	12.15
UR3	1.67	0.19	0.17	0.21	1.31	(2.00)	3.73	(2.80)	17.97
6IC	2.25	0.19	0.06	0.29	2.70	(2.32)	4.40	(4.50)	22.12
KMBA	1.41	0.02	(0.02)	0.15	1.86	(2.53)	5.00	(3.57)	14.02
COA1	2.84	(0.15)	0.00	(2.47)	0.00	0.00	8.33	(8.33)	22.62
CQD	1.94	0.27	0.07	1.34	2.31	(2.24)	5.22	(3.12)	23.54
ALG	0.38	0.17	0.00	36.30	0.00	0.00	0.76	0.00	7.88
C8C	0.56	0.09	0.00	0.50	0.48	(0.78)	1.48	(0.93)	3.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in CENTRAL PUERTO 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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