Cardinal Infrastructure Correlations

CDNL Stock

USD 32.22 0.83 2.51%

The current 90-days correlation between Cardinal Infrastructure and FedEx is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cardinal Infrastructure moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cardinal Infrastructure Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cardinal Infrastructure Correlation With Market

Very good diversification

The correlation between Cardinal Infrastructure Group and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cardinal Infrastructure Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cardinal Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardinal Infrastructure Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving against Cardinal Stock

0.68	TGP	Tekmar Group plc Earnings Call This Week	Pair Corr
0.63	MKS	AS Merko Ehitus	Pair Corr
0.62	6UA	TEKMAR GROUP PLC Earnings Call This Week	Pair Corr
0.41	BBU	Brookfield Business	Pair Corr
0.53	VBC	Verbrec	Pair Corr
0.44	LYL	Lycopodium	Pair Corr
0.36	BAMNB	Koninklijke BAM Groep	Pair Corr

Related Correlations Analysis

	VRT	CSX	JCI	TDG	CP	RSG	TRI	ITW	NSC	FDX
VRT		0.88	0.87	-0.19	0.9	0.76	-0.82	0.85	0.85	0.84	VRT
CSX	0.88		0.95	-0.42	0.97	0.78	-0.91	0.94	0.93	0.93	CSX
JCI	0.87	0.95		-0.49	0.97	0.8	-0.89	0.91	0.93	0.9	JCI
TDG	-0.19	-0.42	-0.49		-0.5	-0.28	0.27	-0.31	-0.55	-0.23	TDG
CP	0.9	0.97	0.97	-0.5		0.78	-0.87	0.91	0.97	0.89	CP
RSG	0.76	0.78	0.8	-0.28	0.78		-0.74	0.78	0.77	0.73	RSG
TRI	-0.82	-0.91	-0.89	0.27	-0.87	-0.74		-0.97	-0.86	-0.95	TRI
ITW	0.85	0.94	0.91	-0.31	0.91	0.78	-0.97		0.92	0.96	ITW
NSC	0.85	0.93	0.93	-0.55	0.97	0.77	-0.86	0.92		0.85	NSC
FDX	0.84	0.93	0.9	-0.23	0.89	0.73	-0.95	0.96	0.85		FDX
	VRT	CSX	JCI	TDG	CP	RSG	TRI	ITW	NSC	FDX

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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

CP	+ 0.97	CSX
CP	+ 0.97	JCI
NSC	+ 0.97	CP
FDX	+ 0.96	ITW
JCI	+ 0.95	CSX
ITW	+ 0.94	CSX

High negative correlations

ITW	- 0.97	TRI
FDX	- 0.95	TRI
TRI	- 0.91	CSX
TRI	- 0.89	JCI
TRI	- 0.87	CP
NSC	- 0.86	TRI

Risk-Adjusted Indicators

There is a big difference between Cardinal Stock performing well and Cardinal Infrastructure 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 Cardinal Infrastructure'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
VRT	2.72	0.66	0.22	0.48	2.57	(3.11)	5.68	(4.83)	29.32
CSX	0.84	0.28	0.21	0.48	0.66	(0.89)	2.27	(1.55)	5.63
JCI	1.15	0.34	0.17	0.91	1.37	(1.26)	3.03	(1.92)	8.37
TDG	1.07	(0.10)	0.00	(0.07)	0.00	0.00	1.76	(2.28)	12.34
CP	1.07	0.28	0.19	0.41	1.01	(1.19)	2.54	(1.98)	7.63
RSG	0.81	0.04	(0.01)	0.24	0.97	(0.82)	1.88	(1.75)	4.24
TRI	1.88	(0.58)	0.00	(0.28)	0.00	0.00	2.36	(3.86)	18.02
ITW	0.97	0.18	0.13	0.29	0.94	(1.05)	2.73	(2.12)	7.20
NSC	0.82	0.09	0.06	0.22	0.92	(0.86)	2.36	(1.56)	5.63
FDX	1.07	0.49	0.48	0.70	0.28	(1.31)	3.34	(1.25)	6.66

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