Capital Power Correlations
| CPXWF Stock | USD 41.01 3.04 6.90% |
The current 90-days correlation between Capital Power and EDP Renovveis SA is -0.13 (i.e., 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
Average diversification
The correlation between Capital Power 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 Capital Power and DJI in the same portfolio, assuming nothing else is changed.
Capital |
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 to buy it.
Moving together with Capital Pink Sheet
| 0.74 | SOJE | Southern Company | PairCorr |
| 0.83 | SOJC | Southern | PairCorr |
| 0.61 | POM | POMDOCTOR LIMITED | PairCorr |
| 0.77 | CMSA | CMS Energy Corp | PairCorr |
| 0.69 | DTW | DTE Energy | PairCorr |
| 0.69 | NDEKY | Nitto Denko Corp Earnings Call This Week | PairCorr |
| 0.69 | CNTRF | Centr Brands Corp | PairCorr |
Moving against Capital Pink Sheet
| 0.87 | NFPDF | Nissin Foods Holdings | PairCorr |
| 0.8 | CHRW | CH Robinson Worldwide | PairCorr |
| 0.74 | FMCB | Farmers Merchants Bancorp Earnings Call This Week | PairCorr |
| 0.56 | FUWAF | Furukawa Electric | PairCorr |
| 0.36 | CNL | Collective Mining | PairCorr |
| 0.32 | CRH | CRH PLC ADR | PairCorr |
| 0.89 | BIIB | Biogen Inc | PairCorr |
| 0.73 | WEGZY | WEG SA ADR | PairCorr |
| 0.67 | SOHOO | Sotherly Hotels Pref | PairCorr |
| 0.65 | SMEGF | Siemens Energy AG | PairCorr |
| 0.62 | EDVMF | Endeavour Mining Corp | PairCorr |
| 0.6 | NXTC | NextCure | PairCorr |
| 0.58 | GVA | Granite Construction | PairCorr |
| 0.57 | ZHCLF | Zenith Capital Corp | PairCorr |
| 0.49 | NKRKY | Nokian Tyres Plc | PairCorr |
| 0.49 | AXP | American Express | PairCorr |
| 0.43 | GJR | Strats SM Trust | PairCorr |
| 0.82 | PITAF | Poste Italiane SpA | PairCorr |
| 0.74 | GM | General Motors Sell-off Trend | PairCorr |
| 0.74 | MATX | Matson Inc | PairCorr |
| 0.72 | FSBW | FS Bancorp Earnings Call This Week | PairCorr |
| 0.67 | VLY | Valley National Bancorp Earnings Call This Week | PairCorr |
| 0.66 | HL | Hecla Mining Aggressive Push | PairCorr |
| 0.57 | BNPQY | BNP Paribas SA | PairCorr |
| 0.57 | FOSL | Fossil Group | PairCorr |
Related Correlations Analysis
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
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EDRVY | 0.32 | 0.12 | 0.00 | (1.26) | 0.00 | 0.00 | 9.54 | |||
| UEPCN | 0.29 | 0.02 | 0.00 | 0.17 | 0.00 | 1.51 | 5.57 | |||
| FORFF | 0.17 | 0.08 | 0.00 | (18.37) | 0.00 | 0.00 | 2.41 | |||
| DNNGY | 4.24 | (0.73) | 0.00 | (0.13) | 0.00 | 4.63 | 108.22 | |||
| DOGEF | 2.64 | 0.23 | 0.04 | (1.93) | 3.10 | 6.40 | 17.73 | |||
| CLPXY | 1.73 | (0.30) | 0.00 | (0.46) | 0.00 | 3.59 | 15.11 | |||
| EQUEY | 1.90 | 0.19 | 0.01 | 4.96 | 2.81 | 7.20 | 23.84 | |||
| ENGGY | 1.03 | 0.03 | (0.03) | 0.23 | 1.30 | 2.03 | 4.97 | |||
| CRPJF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ATGFF | 0.97 | (0.04) | 0.00 | (0.15) | 0.00 | 1.84 | 5.12 |
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.Did you try this?
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Capital Power Corporate Management
| Randy Mah | Senior Manager | Profile | |
| Burness IcdD | VP Officer | Profile | |
| Colleen Legge | Co Sec | Profile | |
| Christopher Kopecky | Devel Legal | Profile | |
| QC IcdD | VP Officer | Profile |