Capstone Companies Correlations

CAPC Stock

USD 0.07 0 5.71%

The correlation of Capstone Companies 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.

Capstone Companies Correlation With Market

Poor diversification

The correlation between Capstone Companies and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capstone Companies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Capstone OTC Stock

0.86	GEL	Genesis Energy LP	Pair Corr
0.66	UAMY	United States Antimony Aggressive Push	Pair Corr
0.76	ESCA	Escalade Incorporated	Pair Corr
0.83	SOJE	Southern Company	Pair Corr
0.62	ICAGY	International Consolidated	Pair Corr
0.78	VHI	Valhi Inc Earnings Call This Week	Pair Corr
0.81	PSX	Phillips 66	Pair Corr
0.86	OXY	Occidental Petroleum Aggressive Push	Pair Corr
0.84	ENBP	ENB Financial Corp	Pair Corr
0.62	CAPL	Crossamerica Partners	Pair Corr
0.62	PDER	Pardee Resources	Pair Corr
0.79	WEJTY	Webjet Limited	Pair Corr
0.69	GL-PD	Globe Life 425	Pair Corr
0.91	DFKCY	Daifuku Co	Pair Corr
0.78	DREUF	Dream Industrial Real	Pair Corr
0.63	BHB	Bar Harbor Bankshares	Pair Corr
0.74	BCO	Brinks Company	Pair Corr
0.85	PRTS	CarPartsCom Earnings Call This Week	Pair Corr
0.89	MOG-A	Moog Inc	Pair Corr
0.73	BKCYF	Bank Of Cyprus Holdings P Normal Trading	Pair Corr
0.73	AIQUF	LAir Liquide SA	Pair Corr
0.84	ALFVF	Alfa Laval AB	Pair Corr
0.87	TRP	TC Energy Corp	Pair Corr
0.9	TDY	Teledyne Technologies	Pair Corr
0.87	ITW	Illinois Tool Works	Pair Corr

Moving against Capstone OTC Stock

0.77	TRNR	Interactive Strength	Pair Corr
0.71	APVO	Aptevo Therapeutics	Pair Corr
0.68	NIVF	NewGenIvf Group	Pair Corr
0.55	VLCN	Volcon Inc Symbol Change	Pair Corr
0.41	TTCM	Tautachrome	Pair Corr

Related Correlations Analysis

	IDGC	NEXD	ENCC	QPRC	ENEVF	LEON	GBLTF	CNGA	FUNN	ELNX
IDGC		-0.45	0.77	0.34	-0.5	0.0	0.0	0.0	-0.26	0.0	IDGC
NEXD	-0.45		-0.72	-0.34	0.45	0.0	0.0	0.0	0.11	0.0	NEXD
ENCC	0.77	-0.72		0.42	-0.66	0.0	0.0	0.0	-0.17	0.0	ENCC
QPRC	0.34	-0.34	0.42		-0.18	0.0	0.0	0.0	0.18	0.0	QPRC
ENEVF	-0.5	0.45	-0.66	-0.18		0.0	0.0	0.0	0.3	0.0	ENEVF
LEON	0.0	0.0	0.0	0.0	0.0		1.0	1.0	0.0	-1.0	LEON
GBLTF	0.0	0.0	0.0	0.0	0.0	1.0		1.0	0.0	-1.0	GBLTF
CNGA	0.0	0.0	0.0	0.0	0.0	1.0	1.0		0.0	-1.0	CNGA
FUNN	-0.26	0.11	-0.17	0.18	0.3	0.0	0.0	0.0		0.0	FUNN
ELNX	0.0	0.0	0.0	0.0	0.0	-1.0	-1.0	-1.0	0.0		ELNX
	IDGC	NEXD	ENCC	QPRC	ENEVF	LEON	GBLTF	CNGA	FUNN	ELNX

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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

GBLTF	+ 1.0	LEON
CNGA	+ 1.0	LEON
CNGA	+ 1.0	GBLTF
ENCC	+ 0.77	IDGC
ENEVF	+ 0.45	NEXD
QPRC	+ 0.42	ENCC

High negative correlations

ELNX	- 1.0	CNGA
ELNX	- 1.0	GBLTF
ELNX	- 1.0	LEON
ENCC	- 0.72	NEXD
ENEVF	- 0.66	ENCC
ENEVF	- 0.5	IDGC

Risk-Adjusted Indicators

There is a big difference between Capstone OTC Stock performing well and Capstone Companies OTC Stock 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 Capstone Companies' 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
IDGC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEXD	5.73	2.58	0.00	9.40	0.00	0.00	0.00	0.00	188.33
ENCC	12.29	(0.31)	0.00	0.24	0.00	0.00	32.88	(26.00)	78.11
QPRC	15.67	4.10	0.08	(1.11)	16.18	(55.53)	69.23	(40.91)	248.04
ENEVF	12.72	3.77	0.15	(1.02)	10.36	(41.38)	50.98	(28.00)	220.63
LEON	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GBLTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNGA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FUNN	8.30	0.51	0.04	1.38	8.19	(16.65)	22.22	(16.67)	66.67
ELNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Capstone Companies 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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