Carrier Connect Correlations

Stocks . Canada . 
Stock . Carrier Connect Data
CCDS Stock   1.70  0.04  2.41%   
The current 90-days correlation between Carrier Connect Data and Pivotree is -0.05 (i.e., Good diversification). The correlation of Carrier Connect 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Carrier Connect Correlation With Market

Average diversification

The correlation between Carrier Connect Data and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carrier Connect Data and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Carrier Connect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Carrier Connect 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 Carrier Connect - 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 Carrier Connect Data to buy it.

Moving together with Carrier Stock

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  0.8PVT PivotreePairCorr
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  0.71GOOG Alphabet CDRPairCorr
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  0.61XOX-P Planet X CapitalPairCorr
  0.88GCG-A Guardian CapitalPairCorr
  0.84MSP Minaean SP Construction SplitPairCorr
  0.92SBC Brompton Split Banc SplitPairCorr
  0.84DEF Defiance Silver CorpPairCorr
  0.85AUUA Aluula CompositesPairCorr
  0.9ARIS Aris MiningPairCorr
  0.74GCU Gunnison Copper CorpPairCorr
  0.7YEG Yorkton Equity GroupPairCorr
  0.77WMT Walmart CDRPairCorr
  0.84NICU Magna MiningPairCorr
  0.88MFC-PP Manulife Financial CorpPairCorr
  0.78LULU LULULEMON CDRPairCorr
  0.69MRC MorguardPairCorr
  0.95PIC-A Premium Income SplitPairCorr
  0.88PGDC Patagonia Gold CorpPairCorr
  0.85TNR TNR Gold CorpPairCorr

Moving against Carrier Stock

  0.85NFLX Netflix Inc CDRPairCorr
  0.74MSFT Microsoft Corp CDRPairCorr
  0.74MSFT Microsoft CDR Earnings Call This WeekPairCorr
  0.46ALYA Alithya Group incPairCorr
  0.39AAPL Apple Inc CDRPairCorr
  0.39AAPL Apple CDR Earnings Call This WeekPairCorr

Related Correlations Analysis


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

CCDS
+ 0.8
PVT
CCDS
+ 0.72
GIB-A
CCDS
+ 0.71
SPOT
SPOT
+ 0.7
GIB-A
PVT
+ 0.68
GIB-A
SPOT
+ 0.57
PVT
  

High negative correlations

PVT
- 0.59
ALYA
CCDS
- 0.46
ALYA
SPOT
- 0.35
ALYA
ALYA
- 0.3
IBM
ALYA
- 0.25
GIB-A

Risk-Adjusted Indicators

There is a big difference between Carrier Stock performing well and Carrier Connect 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 Carrier Connect'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 Carrier Connect 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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Carrier Connect Corporate Management

Elected by the shareholders, the Carrier Connect's board of directors comprises two types of representatives: Carrier Connect inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Carrier. The board's role is to monitor Carrier Connect's management team and ensure that shareholders' interests are well served. Carrier Connect'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, Carrier Connect's outside directors are responsible for providing unbiased perspectives on the board's policies.
Dan BarnholdenCapital AdvisorProfile
CA CGAChief OfficerProfile
Johan ArnetChief OfficerProfile
Mark BinnsChief OfficerProfile
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