Capital Power Correlations

CPRHF Stock

USD 19.58 0.43 2.25%

The current 90-days correlation between Capital Power Corp and Algonquin Power Utilities is -0.28 (i.e., Very good diversification). The correlation of Capital Power 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.

Capital Power Correlation With Market

Good diversification

The correlation between Capital Power Corp and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital Power Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Capital Pink Sheet

0.7	GSVRF	Guanajuato Silver	Pair Corr
0.74	ZPTA	Zapata Computing Holdings Tech Boost	Pair Corr
0.62	AVTBF	Avant Brands	Pair Corr
0.69	ASTI	Ascent Solar Technol Trending	Pair Corr

Moving against Capital Pink Sheet

0.45	12532HAF1	GIBACN 23 14	Pair Corr
0.37	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.57	CYPS	Cyclo3pss	Pair Corr
0.5	WOLF	Wolfspeed,	Pair Corr

Related Correlations Analysis

	DIPGF	KYSEF	KYSEY	AGLNF	AGQPF	AGLXY	CNUTF	CGHLY	TEPCF	CPWIF
DIPGF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DIPGF
KYSEF	0.0		0.66	0.13	0.02	0.43	0.17	0.45	0.0	0.0	KYSEF
KYSEY	0.0	0.66		0.25	0.54	0.63	0.32	0.75	0.0	0.0	KYSEY
AGLNF	0.0	0.13	0.25		0.18	0.12	0.54	0.23	0.0	0.0	AGLNF
AGQPF	0.0	0.02	0.54	0.18		0.69	0.21	0.4	0.0	0.0	AGQPF
AGLXY	0.0	0.43	0.63	0.12	0.69		0.17	0.46	0.0	0.0	AGLXY
CNUTF	0.0	0.17	0.32	0.54	0.21	0.17		0.46	0.0	0.0	CNUTF
CGHLY	0.0	0.45	0.75	0.23	0.4	0.46	0.46		0.0	0.0	CGHLY
TEPCF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TEPCF
CPWIF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CPWIF
	DIPGF	KYSEF	KYSEY	AGLNF	AGQPF	AGLXY	CNUTF	CGHLY	TEPCF	CPWIF

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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

CGHLY	+ 0.75	KYSEY
AGLXY	+ 0.69	AGQPF
KYSEY	+ 0.66	KYSEF
AGLXY	+ 0.63	KYSEY
AGQPF	+ 0.54	KYSEY
CNUTF	+ 0.54	AGLNF

High negative correlations

CPWIF	- 0.0	TEPCF
CPWIF	- 0.0	CGHLY
TEPCF	- 0.0	CGHLY
CPWIF	- 0.0	CNUTF
TEPCF	- 0.0	CNUTF
CPWIF	- 0.0	AGLXY

Risk-Adjusted Indicators

There is a big difference between Capital Pink Sheet performing well and Capital Power 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 Capital Power'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
DIPGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KYSEF	0.80	0.09	0.00	3.30	0.00	0.00	1.70	(0.87)	29.28
KYSEY	0.40	0.19	0.00	52.58	0.00	0.00	0.00	0.00	12.89
AGLNF	0.70	0.13	0.00	1.66	0.00	0.00	2.26	0.00	16.77
AGQPF	0.07	0.03	0.00	(0.23)	0.00	0.00	0.00	0.00	2.19
AGLXY	1.11	0.11	0.04	0.30	1.47	(1.61)	3.07	(2.50)	11.06
CNUTF	0.58	0.28	0.00	4.77	0.00	0.00	0.00	0.00	15.07
CGHLY	0.35	0.16	0.00	2.28	0.00	0.00	0.00	0.00	6.28
TEPCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPWIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Capital Power 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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