CTT - Correlations
| C7T Stock | EUR 5.26 0.09 1.68% |
The current 90-days correlation between CTT Correios and FedEx is -0.01 (i.e., Good diversification). The correlation of CTT - 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.
CTT - Correlation With Market
Average diversification
The correlation between CTT Correios and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CTT Correios and DJI in the same portfolio, assuming nothing else is changed.
CTT |
The ability to find closely correlated positions to CTT - could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CTT - 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 CTT - - 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 CTT Correios to buy it.
Moving together with CTT Stock
| 0.73 | A2P | COPLAND ROAD CAPITAL | PairCorr |
| 0.61 | NTT | Nippon Telegraph | PairCorr |
| 0.93 | 1NN | Neinor Homes SA | PairCorr |
| 0.73 | AIRA | Airbus SE | PairCorr |
| 0.65 | RHM | Rheinmetall AG | PairCorr |
| 0.64 | XGH | ENN Energy Holdings | PairCorr |
| 0.7 | BMT | British American Tobacco | PairCorr |
| 0.81 | 3N8 | Nabtesco Corp | PairCorr |
| 0.89 | BSI | BE Semiconductor Ind | PairCorr |
| 0.69 | ZOF | SBI Holdings | PairCorr |
| 0.81 | 3RK | Ryohin Keikaku | PairCorr |
| 0.74 | RC2 | RCM TECHNOLOGIES | PairCorr |
Moving against CTT Stock
| 0.72 | BUU | DevEx Resources | PairCorr |
| 0.7 | GSR | Gossan Resources | PairCorr |
| 0.68 | DPWA | Deutsche Post AG | PairCorr |
| 0.58 | ZTOA | ZTO Express | PairCorr |
| 0.37 | EW1 | Expeditors International | PairCorr |
| 0.57 | DBPD | Xtrackers ShortDAX | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in CTT - 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?
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