Canal Capital Correlations

The correlation of Canal Capital 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canal Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

To learn how to invest in Canal Stock, please use our How to Invest in Canal Capital guide.

Related Correlations Analysis

	SCSC	ENS	SPCB	PLXS	ELVA	SABR	IPXXU	PPYAU
SCSC		0.08	0.28	0.52	0.5	0.26	0.2	0.29	SCSC
ENS	0.08		0.22	-0.3	0.0	0.03	-0.08	-0.01	ENS
SPCB	0.28	0.22		0.4	0.52	0.59	0.41	0.41	SPCB
PLXS	0.52	-0.3	0.4		0.48	0.66	0.78	0.4	PLXS
ELVA	0.5	0.0	0.52	0.48		0.48	0.35	0.36	ELVA
SABR	0.26	0.03	0.59	0.66	0.48		0.75	0.1	SABR
IPXXU	0.2	-0.08	0.41	0.78	0.35	0.75		0.39	IPXXU
PPYAU	0.29	-0.01	0.41	0.4	0.36	0.1	0.39		PPYAU
	SCSC	ENS	SPCB	PLXS	ELVA	SABR	IPXXU	PPYAU

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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

IPXXU	+ 0.78	PLXS
IPXXU	+ 0.75	SABR
SABR	+ 0.66	PLXS
SABR	+ 0.59	SPCB
PLXS	+ 0.52	SCSC
ELVA	+ 0.52	SPCB

High negative correlations

PLXS	- 0.3	ENS
IPXXU	- 0.08	ENS
PPYAU	- 0.01	ENS
ELVA	- 0.0	ENS

Risk-Adjusted Indicators

There is a big difference between Canal Stock performing well and Canal Capital 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 Canal Capital'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
SCSC	1.63	(0.06)	(0.06)	0.01	1.91	(1.81)	2.52	(2.89)	15.95
ENS	1.20	(0.02)	0.00	0.16	0.00	0.00	2.21	(2.35)	8.90
SPCB	3.70	0.49	0.09	3.45	4.11	(4.21)	9.09	(7.65)	19.42
PLXS	1.43	0.41	0.16	(1.56)	1.23	(1.64)	3.38	(1.91)	12.92
ELVA	2.66	0.38	0.11	0.65	2.56	(3.30)	6.47	(3.96)	20.02
SABR	2.23	0.39	0.05	8.90	4.57	(2.28)	5.33	(3.43)	30.83
IPXXU	0.04	0.01	0.00	1.52	0.00	0.00	0.28	0.00	0.65
PPYAU	0.13	(0.02)	0.00	(0.10)	0.00	0.00	0.00	0.00	5.02

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Canal Capital Correlations

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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