Carnegie Development Correlations

CDJM Stock

USD 0.0001 0.00 0.00%

The current 90-days correlation between Carnegie Development and Trinity Place Holdings is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carnegie Development moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carnegie Development moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carnegie Development Correlation With Market

Good diversification

The correlation between Carnegie Development and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carnegie Development and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Carnegie Pink Sheet

0.8	MSFT	Microsoft	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.76	HD	Home Depot	Pair Corr

Moving against Carnegie Pink Sheet

0.92	MRLWF	Marlowe Plc	Pair Corr
0.79	AMPH	Amphastar P	Pair Corr
0.68	MITSY	Mitsui Company	Pair Corr
0.68	MITSF	Mitsui	Pair Corr
0.62	CTPCY	Citic Ltd ADR	Pair Corr
0.62	F	Ford Motor	Pair Corr
0.6	ACN	Accenture plc	Pair Corr
0.57	ITOCY	Itochu Corp ADR	Pair Corr
0.4	ISRMF	iShares MSCI	Pair Corr
0.36	MMM	3M Company Earnings Call This Week	Pair Corr
0.85	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.81	DD	Dupont De Nemours	Pair Corr
0.8	TRV	The Travelers Companies Earnings Call This Week	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	CAT	Caterpillar Sell-off Trend	Pair Corr
0.55	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.55	BAC	Bank of America	Pair Corr
0.54	MCD	McDonalds	Pair Corr
0.5	AXP	American Express	Pair Corr
0.45	JPM	JPMorgan Chase	Pair Corr
0.38	IBM	International Business	Pair Corr

Related Correlations Analysis

	ENTI	TPHS	MDCN	IDVV	CRDV	UCASU	RRRUF	RGSG	COWPP	BRST
ENTI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ENTI
TPHS	0.0		0.0	-0.1	0.37	0.25	0.32	-0.4	0.0	0.38	TPHS
MDCN	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MDCN
IDVV	0.0	-0.1	0.0		-0.24	-0.39	-0.33	0.37	0.0	-0.35	IDVV
CRDV	0.0	0.37	0.0	-0.24		0.66	0.91	-0.6	0.0	0.81	CRDV
UCASU	0.0	0.25	0.0	-0.39	0.66		0.83	-0.42	0.0	0.7	UCASU
RRRUF	0.0	0.32	0.0	-0.33	0.91	0.83		-0.55	0.0	0.79	RRRUF
RGSG	0.0	-0.4	0.0	0.37	-0.6	-0.42	-0.55		0.0	-0.59	RGSG
COWPP	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	COWPP
BRST	0.0	0.38	0.0	-0.35	0.81	0.7	0.79	-0.59	0.0		BRST
	ENTI	TPHS	MDCN	IDVV	CRDV	UCASU	RRRUF	RGSG	COWPP	BRST

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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

RRRUF	+ 0.91	CRDV
RRRUF	+ 0.83	UCASU
BRST	+ 0.81	CRDV
BRST	+ 0.79	RRRUF
BRST	+ 0.7	UCASU
UCASU	+ 0.66	CRDV

High negative correlations

RGSG	- 0.6	CRDV
BRST	- 0.59	RGSG
RGSG	- 0.55	RRRUF
RGSG	- 0.42	UCASU
RGSG	- 0.4	TPHS
UCASU	- 0.39	IDVV

Risk-Adjusted Indicators

There is a big difference between Carnegie Pink Sheet performing well and Carnegie Development 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 Carnegie Development'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
ENTI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TPHS	4.94	(0.35)	0.00	(1.37)	0.00	0.00	10.34	(11.11)	34.95
MDCN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IDVV	10.81	1.19	0.09	0.42	9.56	(22.51)	20.00	(16.67)	91.67
CRDV	26.19	4.13	0.12	2.03	25.18	(45.48)	97.14	(51.45)	236.43
UCASU	1.57	(0.65)	0.00	(1.26)	0.00	0.00	0.00	0.00	52.50
RRRUF	2.95	(1.67)	0.00	(0.83)	0.00	0.00	0.00	0.00	98.69
RGSG	19.62	9.50	0.00	143.74	0.00	0.00	61.21	0.00	225.18
COWPP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRST	14.08	1.18	0.04	0.36	16.98	(43.82)	67.31	(45.98)	140.43

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