Concurrent Technologies Correlations

CNC Stock

171.25 2.75 1.63%

The current 90-days correlation between Concurrent Technologies and Amedeo Air Four is -0.23 (i.e., Very good diversification). The correlation of Concurrent Technologies 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.

Concurrent Technologies Correlation With Market

Modest diversification

The correlation between Concurrent Technologies Plc and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Concurrent Technologies Plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Concurrent Stock

0.74

DEC

Diversified Energy

Pair Corr

Moving against Concurrent Stock

0.61	0K1R	Viridian Therapeutics	Pair Corr
0.39	0HRR	CVR Energy	Pair Corr
0.35	0HVB	Centene Corp	Pair Corr
0.33	NBS	Nationwide Building	Pair Corr

Related Correlations Analysis

	CTL	0Y5X	0EG8	0LJE	0QZ4	0GE4	AA4	GAMA
CTL		-0.02	0.3	0.72	-0.58	0.71	-0.75	0.74	CTL
0Y5X	-0.02		-0.56	-0.39	0.55	-0.49	0.06	0.29	0Y5X
0EG8	0.3	-0.56		0.47	-0.71	0.61	-0.22	0.06	0EG8
0LJE	0.72	-0.39	0.47		-0.7	0.9	-0.88	0.56	0LJE
0QZ4	-0.58	0.55	-0.71	-0.7		-0.74	0.48	-0.35	0QZ4
0GE4	0.71	-0.49	0.61	0.9	-0.74		-0.79	0.48	0GE4
AA4	-0.75	0.06	-0.22	-0.88	0.48	-0.79		-0.73	AA4
GAMA	0.74	0.29	0.06	0.56	-0.35	0.48	-0.73		GAMA
	CTL	0Y5X	0EG8	0LJE	0QZ4	0GE4	AA4	GAMA

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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

0GE4	+ 0.9	0LJE
GAMA	+ 0.74	CTL
0LJE	+ 0.72	CTL
0GE4	+ 0.71	CTL
0GE4	+ 0.61	0EG8
GAMA	+ 0.56	0LJE

High negative correlations

AA4	- 0.88	0LJE
AA4	- 0.79	0GE4
AA4	- 0.75	CTL
0GE4	- 0.74	0QZ4
GAMA	- 0.73	AA4
0QZ4	- 0.71	0EG8

Risk-Adjusted Indicators

There is a big difference between Concurrent Stock performing well and Concurrent Technologies 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 Concurrent Technologies' 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
CTL	2.42	(0.58)	0.00	(0.30)	0.00	0.00	5.16	(5.51)	17.92
0Y5X	0.83	0.08	0.06	0.31	1.00	(0.91)	2.11	(1.21)	6.31
0EG8	1.61	(0.04)	0.00	(1.02)	0.00	0.00	4.29	(3.45)	10.35
0LJE	1.81	(0.43)	0.00	(6.98)	0.00	0.00	2.69	(4.07)	16.84
0QZ4	1.70	0.27	0.13	(0.63)	1.50	(2.00)	2.99	(2.72)	12.35
0GE4	1.18	(0.33)	0.00	5.82	0.00	0.00	1.93	(1.95)	17.96
AA4	0.54	0.23	0.13	(5.43)	0.64	(0.76)	1.76	(0.66)	7.33
GAMA	1.05	(0.31)	0.00	3.30	0.00	0.00	2.15	(2.69)	6.27

Be your own money manager

Our tools can tell you how much better you can do entering a position in Concurrent Technologies 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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