Llorente Cuenca Correlations

LLYC Stock

6.85 0.15 2.14%

The current 90-days correlation between Llorente Cuenca SA and Catenon SA is 0.03 (i.e., Significant diversification). The correlation of Llorente Cuenca 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.

Llorente Cuenca Correlation With Market

Excellent diversification

The correlation between Llorente Cuenca SA and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Llorente Cuenca SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Llorente Stock

0.8	CABK	Caixabank SA Earnings Call This Week	Pair Corr
0.77	BBVA	Banco Bilbao Vizcaya	Pair Corr
0.75	SAN	Banco Santander SA	Pair Corr
0.71	ITX	Industria de Diseno	Pair Corr
0.71	IBE	Iberdrola SA	Pair Corr
0.53	XVALO	Vale SA	Pair Corr
0.51	VIS	Viscofan	Pair Corr

Related Correlations Analysis

	APG	ENRS	ALQ	NEA	GAM	MDF	CLR	EZE	GRI	COM
APG		-0.62	-0.22	-0.66	-0.02	-0.66	0.44	-0.68	-0.6	-0.66	APG
ENRS	-0.62		0.06	0.76	-0.65	0.93	-0.84	0.84	0.76	0.43	ENRS
ALQ	-0.22	0.06		0.51	0.26	0.13	0.2	0.24	0.06	0.42	ALQ
NEA	-0.66	0.76	0.51		-0.22	0.74	-0.45	0.7	0.59	0.71	NEA
GAM	-0.02	-0.65	0.26	-0.22		-0.51	0.76	-0.41	-0.4	0.18	GAM
MDF	-0.66	0.93	0.13	0.74	-0.51		-0.77	0.85	0.81	0.46	MDF
CLR	0.44	-0.84	0.2	-0.45	0.76	-0.77		-0.72	-0.64	-0.04	CLR
EZE	-0.68	0.84	0.24	0.7	-0.41	0.85	-0.72		0.65	0.39	EZE
GRI	-0.6	0.76	0.06	0.59	-0.4	0.81	-0.64	0.65		0.48	GRI
COM	-0.66	0.43	0.42	0.71	0.18	0.46	-0.04	0.39	0.48		COM
	APG	ENRS	ALQ	NEA	GAM	MDF	CLR	EZE	GRI	COM

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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

MDF	+ 0.93	ENRS
EZE	+ 0.85	MDF
EZE	+ 0.84	ENRS
GRI	+ 0.81	MDF
NEA	+ 0.76	ENRS
GRI	+ 0.76	ENRS

High negative correlations

CLR	- 0.84	ENRS
CLR	- 0.77	MDF
EZE	- 0.72	CLR
EZE	- 0.68	APG
COM	- 0.66	APG
MDF	- 0.66	APG

Risk-Adjusted Indicators

There is a big difference between Llorente Stock performing well and Llorente Cuenca 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 Llorente Cuenca'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
APG	0.69	0.10	0.00	1.44	0.90	(2.19)	2.14	(2.67)	9.41
ENRS	3.15	(0.55)	0.00	(0.56)	0.00	0.00	11.32	(7.37)	30.97
ALQ	0.35	0.00	(0.04)	0.10	0.51	(1.10)	0.81	(0.80)	4.76
NEA	0.93	(0.06)	0.00	(0.04)	0.00	0.00	2.06	(2.44)	5.45
GAM	1.48	0.07	0.01	0.21	1.45	(2.45)	4.76	(2.42)	12.35
MDF	2.21	(0.11)	0.00	(0.25)	0.00	0.00	5.88	(5.26)	27.05
CLR	2.83	0.75	0.27	1.31	2.15	(3.79)	6.88	(3.37)	24.06
EZE	1.50	(0.20)	0.00	1.64	0.00	0.00	2.53	(2.42)	25.08
GRI	0.29	(0.10)	0.00	(2.49)	0.00	0.00	0.00	0.00	7.85
COM	1.63	(0.08)	0.00	(0.08)	0.00	0.00	4.08	(4.35)	10.66

Llorente Cuenca 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 Llorente Cuenca stock to make a market-neutral strategy. Peer analysis of Llorente Cuenca could also be used in its relative valuation, which is a method of valuing Llorente Cuenca by comparing valuation metrics with similar companies.

Axon Partners Group Enerside Energy SA Alquiber Quality SA Nicolas Correa SA General de Alquiler Duro Felguera CLERHP Estructuras SA Grupo Ezentis SA Gri Ecologic SA Catenon SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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