Hawaiian Electric Correlations
| HAWLNDelisted Stock | USD 15.50 0.00 0.00% |
The current 90-days correlation between Hawaiian Electric and Union Electric is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hawaiian Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hawaiian Electric moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Hawaiian Electric Correlation With Market
Significant diversification
The correlation between Hawaiian Electric and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hawaiian Electric and DJI in the same portfolio, assuming nothing else is changed.
Hawaiian |
The ability to find closely correlated positions to Hawaiian Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hawaiian Electric 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 Hawaiian Electric - 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 Hawaiian Electric to buy it.
Moving against Hawaiian Pink Sheet
| 0.48 | BANGN | Emera Maine PFD | PairCorr |
| 0.47 | HPQ | HP Inc | PairCorr |
| 0.42 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.39 | MSB | Mesabi Trust | PairCorr |
| 0.39 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.36 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.36 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.33 | NMPWP | Niagara Mohawk Power | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Hawaiian Pink Sheet performing well and Hawaiian Electric 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 Hawaiian Electric'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.Hawaiian Electric Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Hawaiian Electric pink sheet to make a market-neutral strategy. Peer analysis of Hawaiian Electric could also be used in its relative valuation, which is a method of valuing Hawaiian Electric by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Hawaiian Electric?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.