Grupo Ecoener Correlations

ENER Stock

EUR 4.34 0.02 0.46%

The current 90-days correlation between Grupo Ecoener SA and Squirrel Media SA is -0.13 (i.e., Good diversification). The correlation of Grupo Ecoener 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.

Grupo Ecoener Correlation With Market

Average diversification

The correlation between Grupo Ecoener SA and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grupo Ecoener SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Grupo Stock

0.69	ITX	Industria de Diseno	Pair Corr
0.7	SAN	Banco Santander	Pair Corr
0.65	NXT	Nueva Expresin Textil	Pair Corr
0.91	SEC	Secuoya Grupo de	Pair Corr
0.93	PRO	Proeduca Altus SA	Pair Corr

Moving against Grupo Stock

0.84	EIDF	Energa Innovacin y	Pair Corr
0.81	DIA	Distribuidora Internacional	Pair Corr
0.77	YFID	Fidere Patrimonio SOCIMI	Pair Corr
0.63	MIO	Media Investment Opt	Pair Corr
0.48	CLNX	Cellnex Telecom SA	Pair Corr
0.4	XPBRA	Petroleo Brasileiro	Pair Corr

Related Correlations Analysis

	SQRL	TR1	ATRY	BAIN	ART	AEDAS	PAR	YEIS
SQRL		0.06	0.58	-0.67	-0.23	-0.64	0.03	0.0	SQRL
TR1	0.06		0.29	-0.15	-0.11	-0.25	-0.08	0.0	TR1
ATRY	0.58	0.29		-0.08	-0.15	-0.3	0.53	0.0	ATRY
BAIN	-0.67	-0.15	-0.08		0.34	0.66	0.48	0.0	BAIN
ART	-0.23	-0.11	-0.15	0.34		0.48	0.09	0.0	ART
AEDAS	-0.64	-0.25	-0.3	0.66	0.48		0.39	0.0	AEDAS
PAR	0.03	-0.08	0.53	0.48	0.09	0.39		0.0	PAR
YEIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0		YEIS
	SQRL	TR1	ATRY	BAIN	ART	AEDAS	PAR	YEIS

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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

AEDAS	+ 0.66	BAIN
ATRY	+ 0.58	SQRL
PAR	+ 0.53	ATRY
PAR	+ 0.48	BAIN
AEDAS	+ 0.48	ART
PAR	+ 0.39	AEDAS

High negative correlations

BAIN	- 0.67	SQRL
AEDAS	- 0.64	SQRL
AEDAS	- 0.3	ATRY
AEDAS	- 0.25	TR1
ART	- 0.23	SQRL
ART	- 0.15	ATRY

Risk-Adjusted Indicators

There is a big difference between Grupo Stock performing well and Grupo Ecoener 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 Grupo Ecoener'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
SQRL	1.23	(0.37)	0.00	12.14	0.00	0.00	2.38	(2.70)	6.21
TR1	1.79	0.17	0.04	(0.96)	1.62	(2.99)	4.65	(2.99)	9.77
ATRY	1.35	(0.16)	0.00	(0.37)	0.00	0.00	3.74	(2.54)	8.76
BAIN	0.76	0.14	0.00	(2.68)	0.00	0.00	1.37	(0.69)	21.20
ART	1.70	0.15	0.01	(0.27)	1.91	(3.08)	5.93	(3.28)	12.46
AEDAS	1.16	0.11	0.02	0.67	1.63	(1.33)	2.15	(2.06)	9.52
PAR	1.08	0.00	(0.04)	0.04	1.45	(2.10)	2.96	(3.43)	11.54
YEIS	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 Grupo Ecoener 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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