Cool Correlations

Stocks . USA . 
Stock . Cool Company
CLCO Stock   7.42  0.56  7.02%   
The current 90-days correlation between Cool Company and CECO Environmental Corp is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cool moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cool Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cool Correlation With Market

Good diversification

The correlation between Cool Company 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 Cool Company and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cool Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Cool Stock

  0.81FRO FrontlinePairCorr
  0.82LPG Dorian LPG Downward RallyPairCorr
  0.85PXS Pyxis TankersPairCorr
  0.81TEN Tsakos Energy Navigation Symbol ChangePairCorr
  0.75TNK Teekay TankersPairCorr
  0.8IMPP Imperial PetroleumPairCorr
  0.78INSW International SeawaysPairCorr

Moving against Cool Stock

  0.65EE Excelerate EnergyPairCorr
  0.59GLOP-PC GasLog Partners LPPairCorr
  0.55ET Energy Transfer LP Earnings Call This WeekPairCorr
  0.54GLOP-PB GasLog Partners LPPairCorr
  0.53GLOP-PA GasLog Partners LPPairCorr
  0.48DLNG Dynagas LNG PartnersPairCorr
  0.43NGL NGL Energy PartnersPairCorr
  0.41CQP Cheniere Energy PartnersPairCorr
  0.4EPD Enterprise ProductsPairCorr
  0.31GLP Global Partners LPPairCorr
  0.82GLNG Golar LNG Limited Downward RallyPairCorr
  0.46WES Western MidstreamPairCorr
  0.44SEAL-PA Seapeak LLCPairCorr
  0.43NGL-PC NGL Energy PartnersPairCorr
  0.39MPLX MPLX LPPairCorr
  0.38NGL-PB NGL Energy PartnersPairCorr
  0.32GLP-PB Global Partners LPPairCorr

Related Correlations Analysis

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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   
HAS
+ 0.68
MAT
HAS
+ 0.62
HURC
CECO
+ 0.57
PRIM
CECO
+ 0.54
SONY
ASO
+ 0.5
SONY
HURC
+ 0.48
MAT
  
High negative correlations   
ASO
- 0.67
HURC
ASO
- 0.65
HAS
HAS
- 0.44
SONY
ASO
- 0.37
MAT
MAT
- 0.33
PRIM
CECO
- 0.31
MAT

Risk-Adjusted Indicators

There is a big difference between Cool Stock performing well and Cool 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 Cool'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.

Cool Corporate Management

Johannes BootsChief OfficerProfile
Christopher BergslandChief OfficerProfile
Stuart BuchananHead RelationsProfile
Oistein DahlChief OfficerProfile
Sarah ChoudhrySecretary CounselProfile
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