Orange SA Correlations

FNCTF Stock

USD 16.87 0.32 1.93%

The current 90-days correlation between Orange SA and Cellnex Telecom SA is -0.09 (i.e., Good diversification). The correlation of Orange SA 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.

Orange SA Correlation With Market

Modest diversification

The correlation between Orange SA and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orange SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Orange Pink Sheet

0.63	TLK	Telkom Indonesia Tbk	Pair Corr
0.63	EC	Ecopetrol SA ADR	Pair Corr
0.61	PTAIY	Astra International Tbk	Pair Corr
0.66	KEP	Korea Electric Power	Pair Corr
0.63	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Orange Pink Sheet

0.58	HPQ	HP Inc	Pair Corr
0.56	HD	Home Depot	Pair Corr
0.42	CMCSA	Comcast Corp	Pair Corr
0.41	PIFMY	Indofood Sukses Makmur	Pair Corr
0.4	DTEGY	Deutsche Telekom	Pair Corr
0.4	NTTYY	Nippon Telegraph	Pair Corr
0.38	BA	Boeing	Pair Corr
0.36	DTEGF	Deutsche Telekom	Pair Corr

Related Correlations Analysis

	CLLNY	SWZCF	SCMWY	TLGPY	TTRAF	SNGNF	SGAPY	KSHTY	TEFOF	UNVGY
CLLNY		0.24	0.58	-0.35	-0.3	-0.85	-0.82	0.7	0.73	0.86	CLLNY
SWZCF	0.24		0.65	-0.32	0.28	-0.14	-0.27	0.14	0.47	0.25	SWZCF
SCMWY	0.58	0.65		-0.21	-0.11	-0.38	-0.42	0.44	0.46	0.57	SCMWY
TLGPY	-0.35	-0.32	-0.21		0.06	0.33	0.49	-0.37	-0.44	-0.34	TLGPY
TTRAF	-0.3	0.28	-0.11	0.06		0.1	0.11	-0.41	0.01	-0.47	TTRAF
SNGNF	-0.85	-0.14	-0.38	0.33	0.1		0.87	-0.7	-0.74	-0.68	SNGNF
SGAPY	-0.82	-0.27	-0.42	0.49	0.11	0.87		-0.71	-0.82	-0.78	SGAPY
KSHTY	0.7	0.14	0.44	-0.37	-0.41	-0.7	-0.71		0.6	0.73	KSHTY
TEFOF	0.73	0.47	0.46	-0.44	0.01	-0.74	-0.82	0.6		0.71	TEFOF
UNVGY	0.86	0.25	0.57	-0.34	-0.47	-0.68	-0.78	0.73	0.71		UNVGY
	CLLNY	SWZCF	SCMWY	TLGPY	TTRAF	SNGNF	SGAPY	KSHTY	TEFOF	UNVGY

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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

SGAPY	+ 0.87	SNGNF
UNVGY	+ 0.86	CLLNY
TEFOF	+ 0.73	CLLNY
UNVGY	+ 0.73	KSHTY
UNVGY	+ 0.71	TEFOF
KSHTY	+ 0.7	CLLNY

High negative correlations

SNGNF	- 0.85	CLLNY
TEFOF	- 0.82	SGAPY
SGAPY	- 0.82	CLLNY
UNVGY	- 0.78	SGAPY
TEFOF	- 0.74	SNGNF
KSHTY	- 0.71	SGAPY

Risk-Adjusted Indicators

There is a big difference between Orange Pink Sheet performing well and Orange SA 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 Orange SA'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
CLLNY	1.14	(0.13)	0.00	(0.36)	0.00	0.00	1.84	(2.38)	6.25
SWZCF	0.72	(0.02)	0.00	0.13	0.00	0.00	3.23	(3.81)	10.25
SCMWY	0.81	0.03	(0.02)	0.85	0.94	(0.91)	1.89	(1.59)	5.07
TLGPY	0.80	0.00	(0.02)	0.05	0.95	(0.90)	1.61	(1.28)	5.18
TTRAF	0.50	0.12	0.00	(0.19)	0.00	0.00	1.57	0.00	16.08
SNGNF	0.99	0.18	0.02	(0.15)	1.55	(3.39)	1.98	(2.76)	20.20
SGAPY	0.86	0.19	0.14	(2.18)	0.70	(0.99)	2.50	(1.53)	7.66
KSHTY	3.71	(0.19)	0.00	(0.22)	0.00	0.00	10.24	(9.29)	34.17
TEFOF	4.22	(0.29)	0.00	(0.84)	0.00	0.00	9.07	(9.09)	24.61
UNVGY	1.15	(0.19)	0.00	(0.23)	0.00	0.00	1.93	(3.62)	10.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Orange SA 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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