Computacenter PLC Correlations

CCC Stock

2,912 10.00 0.34%

The current 90-days correlation between Computacenter PLC and Melia Hotels is 0.25 (i.e., Modest diversification). The correlation of Computacenter PLC 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.

Computacenter PLC Correlation With Market

Average diversification

The correlation between Computacenter PLC and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Computacenter PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Computacenter Stock

0.67	0R15	SoftBank Group Corp	Pair Corr
0.79	0J8P	IDEXX Laboratories	Pair Corr
0.81	0P4F	Ford Motor	Pair Corr
0.73	0LC3	Synchrony Financial	Pair Corr
0.79	0R29	Intuitive Surgical	Pair Corr
0.75	0KED	Infineon Technologies	Pair Corr
0.87	0R2V	Apple Inc	Pair Corr
0.66	SGLP	Invesco Physical Gold	Pair Corr
0.83	ALK	Alkemy Capital Inves	Pair Corr
0.85	IHG	InterContinental Hotels	Pair Corr
0.76	BLND	British Land	Pair Corr
0.75	0MDT	Electrolux AB Class	Pair Corr
0.88	BGEO	Lion Finance Group	Pair Corr
0.85	0RQ9	Lundin Mining Corp	Pair Corr
0.7	CAD	Cadogan Petroleum plc	Pair Corr
0.84	JUST	Just Group plc	Pair Corr
0.62	TENG	Ten Lifestyle Group	Pair Corr
0.9	BERI	Blackrock Energy	Pair Corr
0.71	DRX	Drax Group PLC	Pair Corr
0.79	BNC	Banco Santander SA	Pair Corr
0.79	0JRL	Kohl Corp	Pair Corr

Moving against Computacenter Stock

0.54	0HBH	Air Products Chemicals	Pair Corr
0.45	FCM	First Class Metals	Pair Corr
0.36	TYM	Tertiary Minerals Plc	Pair Corr

Related Correlations Analysis

	0MKO	0H30	0J66	FEVR	LIO	GAW	0J71	IPX
0MKO		0.07	0.4	0.29	0.03	0.12	0.22	-0.33	0MKO
0H30	0.07		-0.27	0.24	-0.01	-0.06	0.31	0.17	0H30
0J66	0.4	-0.27		-0.19	-0.63	0.68	0.61	-0.63	0J66
FEVR	0.29	0.24	-0.19		0.55	-0.48	-0.25	0.36	FEVR
LIO	0.03	-0.01	-0.63	0.55		-0.95	-0.87	0.82	LIO
GAW	0.12	-0.06	0.68	-0.48	-0.95		0.85	-0.87	GAW
0J71	0.22	0.31	0.61	-0.25	-0.87	0.85		-0.78	0J71
IPX	-0.33	0.17	-0.63	0.36	0.82	-0.87	-0.78		IPX
	0MKO	0H30	0J66	FEVR	LIO	GAW	0J71	IPX

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

0J71	+ 0.85	GAW
IPX	+ 0.82	LIO
GAW	+ 0.68	0J66
0J71	+ 0.61	0J66
LIO	+ 0.55	FEVR
0J66	+ 0.4	0MKO

High negative correlations

GAW	- 0.95	LIO
IPX	- 0.87	GAW
0J71	- 0.87	LIO
IPX	- 0.78	0J71
IPX	- 0.63	0J66
LIO	- 0.63	0J66

Risk-Adjusted Indicators

There is a big difference between Computacenter Stock performing well and Computacenter PLC 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 Computacenter PLC'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
0MKO	0.99	0.03	0.00	0.12	1.32	(1.02)	1.69	(2.58)	5.02
0H30	1.17	0.04	0.01	0.14	1.21	(1.38)	2.03	(1.90)	11.55
0J66	1.13	0.07	0.04	0.19	1.12	(1.33)	2.82	(1.86)	7.39
FEVR	1.28	(0.19)	0.00	(0.14)	0.00	0.00	2.82	(2.37)	7.23
LIO	1.21	(0.29)	0.00	(22.39)	0.00	0.00	1.71	(3.15)	6.19
GAW	1.15	0.40	0.27	2.78	0.68	(1.33)	2.79	(1.46)	14.60
0J71	1.66	0.61	0.37	1.14	1.01	(2.05)	3.32	(2.44)	21.97
IPX	1.63	(0.33)	0.00	(1.33)	0.00	0.00	3.30	(4.12)	13.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Computacenter PLC 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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