Cellnex Telecom Correlations

CLNXF Stock

USD 37.00 0.00 0.00%

The current 90-days correlation between Cellnex Telecom SA and CBRE Group Class is 0.02 (i.e., Significant diversification). The correlation of Cellnex Telecom 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.

Cellnex Telecom Correlation With Market

Average diversification

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

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

Moving together with Cellnex Pink Sheet

0.77	CLLNY	Cellnex Telecom SA Earnings Call Today	Pair Corr
0.71	HLTOY	Hellenic Telecommunicatio	Pair Corr

Moving against Cellnex Pink Sheet

0.73	CBRE	CBRE Group Class	Pair Corr
0.73	PANL	Pangaea Logistic	Pair Corr
0.61	PBCRF	PT Bank Central Earnings Call This Week	Pair Corr
0.43	PTBRY	Bank Negara Indonesia Earnings Call This Week	Pair Corr
0.43	KB	KB Financial Group Earnings Call Today	Pair Corr
0.43	416518AD0	HIG 29 15	Pair Corr
0.37	PBCRY	Bank Central Asia Earnings Call This Week	Pair Corr
0.33	BKRKF	PT Bank Rakyat Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CBRE	CWK	NMRK	CIGI	MMI	OPEN	EXPI	OPAD	WE	RMAX
CBRE		0.94	0.96	0.9	0.83	0.87	0.88	0.78	0.0	0.92	CBRE
CWK	0.94		0.92	0.96	0.8	0.89	0.93	0.88	0.0	0.97	CWK
NMRK	0.96	0.92		0.82	0.9	0.9	0.82	0.76	0.0	0.88	NMRK
CIGI	0.9	0.96	0.82		0.68	0.79	0.93	0.85	0.0	0.94	CIGI
MMI	0.83	0.8	0.9	0.68		0.75	0.65	0.57	0.0	0.73	MMI
OPEN	0.87	0.89	0.9	0.79	0.75		0.86	0.89	0.0	0.88	OPEN
EXPI	0.88	0.93	0.82	0.93	0.65	0.86		0.9	0.0	0.96	EXPI
OPAD	0.78	0.88	0.76	0.85	0.57	0.89	0.9		0.0	0.87	OPAD
WE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	WE
RMAX	0.92	0.97	0.88	0.94	0.73	0.88	0.96	0.87	0.0		RMAX
	CBRE	CWK	NMRK	CIGI	MMI	OPEN	EXPI	OPAD	WE	RMAX

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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

RMAX	+ 0.97	CWK
NMRK	+ 0.96	CBRE
CIGI	+ 0.96	CWK
RMAX	+ 0.96	EXPI
CWK	+ 0.94	CBRE
RMAX	+ 0.94	CIGI

High negative correlations

RMAX	- 0.0	WE
WE	- 0.0	OPAD
WE	- 0.0	EXPI
WE	- 0.0	OPEN
WE	- 0.0	MMI
WE	- 0.0	CIGI

Risk-Adjusted Indicators

There is a big difference between Cellnex Pink Sheet performing well and Cellnex Telecom 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 Cellnex Telecom'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CBRE	1.69	(0.02)	(0.16)	2.94	(4.28)	10.24
CWK	2.13	(0.51)	(0.56)	2.89	(6.21)	12.32
NMRK	2.05	(0.14)	(0.25)	3.88	(5.57)	15.05
CIGI	1.61	(0.12)	(0.26)	2.88	(3.50)	11.16
MMI	1.76	(0.10)	(1.00)	3.11	(3.82)	12.73
OPEN	3.67	(0.72)	1.12	6.52	(8.26)	21.55
EXPI	2.02	(0.25)	(0.41)	3.32	(3.71)	12.47
OPAD	3.55	(1.10)	2.32	6.55	(8.14)	28.03
WE	0.00	0.00	0.00	0.00	0.00	0.00
RMAX	2.22	(0.36)	(0.55)	4.32	(4.77)	13.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cellnex Telecom 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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Cellnex Telecom Corporate Management

Lluis Fuguet	Advisor Foundation	Profile
Antoni Mauri	Co Director	Profile
Juan Maoso	Head Relations	Profile
Jose Prieto	G Affairs	Profile
Sergio Pie	Head Control	Profile

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