Cathay Pacific Correlations

Summary

CPCAFDelisted Stock

USD 0.91 0.00 0.00%

The current 90-days correlation between Cathay Pacific Airways and easyJet plc is 0.01 (i.e., Significant diversification). The correlation of Cathay Pacific 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.

Cathay Pacific Correlation With Market

Average diversification

The correlation between Cathay Pacific Airways and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cathay Pacific Airways and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cathay Pink Sheet

0.77	DIT	AMCON Distributing	Pair Corr
0.77	BKRKY	Bank Rakyat	Pair Corr
0.78	TLK	Telkom Indonesia Tbk	Pair Corr
0.74	PPERY	Bank Mandiri Persero	Pair Corr
0.62	PPERF	Bank Mandiri Persero	Pair Corr

Moving against Cathay Pink Sheet

0.77	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.74	LLYVK	Liberty Media	Pair Corr
0.74	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.7	AIRYY	Air China	Pair Corr
0.63	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.61	PTAIF	PT Astra International	Pair Corr
0.56	SSNLF	Samsung Electronics	Pair Corr
0.43	CHKIF	China Southern Airlines	Pair Corr
0.4	AICAF	Air China Limited	Pair Corr
0.33	RYAAY	Ryanair Holdings PLC	Pair Corr
0.81	KSCP	Knightscope Upward Rally	Pair Corr
0.8	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.79	ZM	Zoom Video Communications	Pair Corr
0.78	ALAB	Astera Labs, Common	Pair Corr
0.77	GM	General Motors	Pair Corr
0.73	GVA	Granite Construction	Pair Corr
0.71	ADSK	Autodesk	Pair Corr
0.69	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.68	DECK	Deckers Outdoor	Pair Corr
0.67	NVDA	NVIDIA	Pair Corr
0.65	ITRI	Itron Inc	Pair Corr
0.65	CRWD	Crowdstrike Holdings	Pair Corr
0.63	CSTXF	CryptoStar Corp	Pair Corr
0.62	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.58	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.56	DXYZ	Destiny Tech100	Pair Corr
0.44	SNOW	Snowflake Trending	Pair Corr

Related Correlations Analysis

	FNNNF	EJTTF	NRSAF	ANZFF	AICAF	CEBUF	AFRAF	ANZLY	AIABF	ALNPY
FNNNF		-0.06	-0.63	0.55	-0.17	0.0	0.56	0.09	0.23	0.2	FNNNF
EJTTF	-0.06		-0.19	-0.43	0.55	0.0	0.56	-0.16	0.59	-0.51	EJTTF
NRSAF	-0.63	-0.19		-0.29	0.28	0.0	-0.74	0.02	-0.32	-0.11	NRSAF
ANZFF	0.55	-0.43	-0.29		-0.19	0.0	0.11	0.51	-0.32	0.56	ANZFF
AICAF	-0.17	0.55	0.28	-0.19		0.0	0.13	0.27	0.21	-0.26	AICAF
CEBUF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CEBUF
AFRAF	0.56	0.56	-0.74	0.11	0.13	0.0		0.03	0.52	-0.23	AFRAF
ANZLY	0.09	-0.16	0.02	0.51	0.27	0.0	0.03		-0.29	0.39	ANZLY
AIABF	0.23	0.59	-0.32	-0.32	0.21	0.0	0.52	-0.29		-0.36	AIABF
ALNPY	0.2	-0.51	-0.11	0.56	-0.26	0.0	-0.23	0.39	-0.36		ALNPY
	FNNNF	EJTTF	NRSAF	ANZFF	AICAF	CEBUF	AFRAF	ANZLY	AIABF	ALNPY

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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

AIABF	+ 0.59	EJTTF
AFRAF	+ 0.56	FNNNF
AFRAF	+ 0.56	EJTTF
ALNPY	+ 0.56	ANZFF
ANZFF	+ 0.55	FNNNF
AICAF	+ 0.55	EJTTF

High negative correlations

AFRAF	- 0.74	NRSAF
NRSAF	- 0.63	FNNNF
ALNPY	- 0.51	EJTTF
ANZFF	- 0.43	EJTTF
ALNPY	- 0.36	AIABF
AIABF	- 0.32	ANZFF

Risk-Adjusted Indicators

There is a big difference between Cathay Pink Sheet performing well and Cathay Pacific 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 Cathay Pacific'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
FNNNF	0.47	(0.06)	0.00	0.45	0.00	0.00	0.00	0.00	19.58
EJTTF	0.68	0.23	0.00	(4.80)	0.00	0.00	0.00	0.00	29.53
NRSAF	4.10	0.99	0.07	(0.62)	4.00	(17.76)	13.33	(10.00)	50.00
ANZFF	1.67	(0.28)	0.00	(0.06)	0.00	0.00	6.06	(8.33)	18.75
AICAF	1.23	0.24	0.00	0.47	0.00	0.00	4.44	0.00	26.51
CEBUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFRAF	0.53	(0.03)	0.00	2.72	0.00	0.00	0.00	0.00	28.47
ANZLY	1.19	0.00	(0.02)	0.11	1.97	(3.94)	5.45	(3.80)	15.91
AIABF	2.32	0.29	0.01	(0.26)	3.66	(11.12)	11.11	(9.09)	27.62
ALNPY	1.64	0.04	(0.04)	0.02	2.34	(2.17)	4.63	(4.87)	13.17

Cathay Pacific Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Cathay Pacific pink sheet to make a market-neutral strategy. Peer analysis of Cathay Pacific could also be used in its relative valuation, which is a method of valuing Cathay Pacific by comparing valuation metrics with similar companies.

Finnair Oyj easyJet plc Norse Atlantic ASA Air New Zealand Air China Limited Cebu Air Air France KLM SA Air New Zealand AirAsia Group Berhad ANA Holdings ADR China Southern Airlines American Airlines Group Alcoa Corp Apple Inc Best Buy Co

Risk & Return

Correlation

Cathay Pacific Corporate Management

Kin Tang	CEO Director	Profile
Philippe Lacamp	Chief Officer	Profile
Siu Lam	Chief Director	Profile
Rebecca Sharpe	CFO Director	Profile
Joanna Lai	Group Sec	Profile
Christopher Buckley	Head Service	Profile

Still Interested in Cathay Pacific Airways?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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