CN YANGTPWR Correlations

CYZB Stock

EUR 33.60 0.40 1.20%

The current 90-days correlation between CN YANGTPWR GDR and United Airlines Holdings is -0.07 (i.e., Good diversification). The correlation of CN YANGTPWR 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.

CN YANGTPWR Correlation With Market

Very good diversification

The correlation between CN YANGTPWR GDR and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CN YANGTPWR GDR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against CYZB Stock

0.5	MOB	Monster Beverage Corp	Pair Corr
0.46	DP4A	AP Møller	Pair Corr
0.45	V71	HUT 8 P	Pair Corr
0.43	9PAA	Pampa Energa SA	Pair Corr
0.43	SAP	SAP SE	Pair Corr
0.4	DP4B	AP Møller	Pair Corr
0.38	ENR0	SIEMENS ENERGY AG	Pair Corr
0.36	HEIA	HEIA	Pair Corr
0.35	ENR	Siemens Energy AG	Pair Corr

Related Correlations Analysis

	CY9D	COP	BOV	JMD	UAL1	8HH	B3BN	COP
CY9D		0.06	0.16	-0.5	0.55	-0.35	0.0	0.07	CY9D
COP	0.06		0.54	0.22	-0.21	0.09	0.0	0.89	COP
BOV	0.16	0.54		-0.25	0.31	-0.4	0.0	0.52	BOV
JMD	-0.5	0.22	-0.25		-0.96	0.86	0.0	0.16	JMD
UAL1	0.55	-0.21	0.31	-0.96		-0.83	0.0	-0.15	UAL1
8HH	-0.35	0.09	-0.4	0.86	-0.83		0.0	0.05	8HH
B3BN	0.0	0.0	0.0	0.0	0.0	0.0		0.0	B3BN
COP	0.07	0.89	0.52	0.16	-0.15	0.05	0.0		COP
	CY9D	COP	BOV	JMD	UAL1	8HH	B3BN	COP

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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

COP	+ 0.89	COP
8HH	+ 0.86	JMD
UAL1	+ 0.55	CY9D
BOV	+ 0.54	COP
COP	+ 0.52	BOV
UAL1	+ 0.31	BOV

High negative correlations

UAL1	- 0.96	JMD
8HH	- 0.83	UAL1
JMD	- 0.5	CY9D
8HH	- 0.4	BOV
8HH	- 0.35	CY9D
JMD	- 0.25	BOV

Risk-Adjusted Indicators

There is a big difference between CYZB Stock performing well and CN YANGTPWR 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 CN YANGTPWR'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
CY9D	2.04	(0.09)	(0.03)	0.03	2.28	(3.10)	4.60	(4.30)	13.93
COP	1.75	(0.22)	0.00	(0.28)	0.00	0.00	3.95	(3.38)	12.99
BOV	3.44	0.33	0.06	1.02	3.61	(4.30)	8.26	(5.50)	30.91
JMD	1.18	(0.39)	0.00	(1.59)	0.00	0.00	2.13	(2.29)	7.34
UAL1	2.17	1.33	0.82	5.80	0.53	(2.98)	7.12	(2.43)	14.35
8HH	1.58	(0.49)	0.00	(0.11)	0.00	0.00	2.66	(2.88)	20.85
B3BN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COP	1.53	(0.22)	0.00	(0.33)	0.00	0.00	2.89	(3.34)	10.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in CN YANGTPWR 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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