EDP - Correlations
| ELCPF Stock | USD 3.09 0.04 1.28% |
The current 90-days correlation between EDP Energias and EDP Energias de is -0.01 (i.e., Good diversification). The correlation of EDP - 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.
EDP - Correlation With Market
Significant diversification
The correlation between EDP Energias and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EDP Energias and DJI in the same portfolio, assuming nothing else is changed.
EDP |
The ability to find closely correlated positions to EDP - could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EDP - 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 EDP - - 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 EDP Energias to buy it.
Moving together with EDP OTC Stock
| 0.8 | CVPBF | CP ALL Public | PairCorr |
| 0.69 | NMPWP | Niagara Mohawk Power | PairCorr |
| 0.73 | SCVPF | Siam Cement | PairCorr |
| 0.7 | XOM | Exxon Mobil Corp Earnings Call Tomorrow | PairCorr |
| 0.71 | KO | Coca Cola Earnings Call This Week | PairCorr |
| 0.76 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
| 0.62 | INTC | Intel | PairCorr |
| 0.73 | HPQ | HP Inc | PairCorr |
| 0.87 | JNJ | Johnson Johnson | PairCorr |
Moving against EDP OTC Stock
| 0.88 | EXCH | Exchange Bankshares | PairCorr |
| 0.79 | BANGN | Emera Maine PFD | PairCorr |
| 0.74 | INPAP | International Paper | PairCorr |
| 0.69 | MNPR | Monopar Therapeutics | PairCorr |
| 0.37 | COHG | Cheetah Oil Gas | PairCorr |
| 0.33 | DNOW | Now Inc | PairCorr |
| 0.82 | AXP | American Express | PairCorr |
| 0.8 | WMT | Walmart Aggressive Push | PairCorr |
| 0.77 | CSCO | Cisco Systems | PairCorr |
| 0.58 | TGNA | Tegna Inc | PairCorr |
| 0.57 | DNA | Ginkgo Bioworks Holdings Upward Rally | PairCorr |
| 0.55 | IBM | International Business Upward Rally | PairCorr |
| 0.53 | MMM | 3M Company | PairCorr |
| 0.37 | MSFT | Microsoft Downward Rally | PairCorr |
Related Correlations Analysis
| 0.95 | 0.86 | 0.07 | 0.63 | EDPFY | ||
| 0.95 | 0.9 | 0.02 | 0.62 | EDRVF | ||
| 0.86 | 0.9 | 0.06 | 0.55 | ENAKF | ||
| 0.07 | 0.02 | 0.06 | 0.43 | ELEZY | ||
| 0.63 | 0.62 | 0.55 | 0.43 | ESOCF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between EDP OTC Stock performing well and EDP - OTC Stock 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 EDP -'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EDPFY | 1.30 | (0.38) | 0.00 | (5.21) | 0.00 | 2.20 | 10.01 | |||
| EDRVF | 1.71 | (0.77) | 0.00 | (2.12) | 0.00 | 2.60 | 16.38 | |||
| ENAKF | 1.46 | (0.36) | 0.00 | (0.60) | 0.00 | 4.78 | 16.51 | |||
| ELEZY | 1.36 | 0.04 | (0.01) | 0.19 | 1.82 | 2.70 | 7.60 | |||
| ESOCF | 1.38 | (0.13) | 0.00 | 0.56 | 0.00 | 2.60 | 8.04 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in EDP - 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?
Run Technical Analysis Now
Technical AnalysisCheck basic technical indicators and analysis based on most latest market data |
| All Next | Launch Module |