Niagara Mohawk Correlations
| NMPWP Stock | USD 62.00 0.00 0.00% |
The current 90-days correlation between Niagara Mohawk Power and Copa Holdings SA is -0.01 (i.e., Good diversification). The correlation of Niagara Mohawk 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Niagara Mohawk Correlation With Market
Average diversification
The correlation between Niagara Mohawk Power 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 Niagara Mohawk Power and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Niagara Mohawk could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Niagara Mohawk 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 Niagara Mohawk - 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 Niagara Mohawk Power to buy it.
Moving together with Niagara Pink Sheet
| 0.64 | NVDA | NVIDIA | PairCorr |
| 0.67 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.91 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.89 | HD | Home Depot | PairCorr |
| 0.79 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.69 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.89 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.61 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.73 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.75 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.74 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.65 | HPQ | HP Inc | PairCorr |
| 0.67 | WMT | Walmart Aggressive Push | PairCorr |
Moving against Niagara Pink Sheet
| 0.88 | RIVN | Rivian Automotive Aggressive Push | PairCorr |
| 0.65 | LCID | Lucid Group Aggressive Push | PairCorr |
| 0.55 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.35 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Niagara Pink Sheet performing well and Niagara Mohawk 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 Niagara Mohawk'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CPA | 1.46 | 0.05 | (0.01) | 0.25 | 2.66 | 3.72 | 17.32 | |||
| UAL | 1.95 | 1.02 | 0.73 | 0.65 | 0.53 | 6.47 | 16.43 | |||
| DAL | 1.71 | 0.50 | 0.40 | 0.44 | 0.91 | 4.11 | 9.95 | |||
| SKYW | 1.39 | 0.40 | 0.38 | 0.34 | 0.82 | 3.80 | 9.51 | |||
| ALGT | 2.66 | 0.77 | 0.31 | 0.52 | 2.25 | 6.22 | 16.10 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Niagara Mohawk 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?
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