Terna Rete Correlations

TERRF Stock

USD 10.67 0.64 6.38%

The current 90-days correlation between Terna Rete and Tenaga Nasional Berhad is -0.01 (i.e., Good diversification). The correlation of Terna Rete 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.

Terna Rete Correlation With Market

Significant diversification

The correlation between Terna Rete and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Terna Rete and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Terna Pink Sheet

0.61	NGG	National Grid PLC	Pair Corr
0.67	ROL	Rollins	Pair Corr
0.75	NTR	Nutrien	Pair Corr
0.65	BNPQY	BNP Paribas SA	Pair Corr
0.61	ZMPLF	Zimplats Holdings	Pair Corr
0.62	CHRW	CH Robinson Worldwide Earnings Call This Week	Pair Corr
0.79	HL	Hecla Mining Aggressive Push	Pair Corr

Moving against Terna Pink Sheet

0.55	GLABF	Gemina Laboratories	Pair Corr
0.5	ZTLLF	Zonetail	Pair Corr
0.45	NSFDF	NXT Energy Solutions	Pair Corr
0.39	XEL	Xcel Energy	Pair Corr
0.37	DUK	Duke Energy Sell-off Trend	Pair Corr
0.34	SO	Southern	Pair Corr
0.34	EXC	Exelon	Pair Corr
0.45	CNTRF	Centr Brands Corp	Pair Corr
0.33	ASST	Strive Asset Management	Pair Corr

Related Correlations Analysis

	TNABY	TNABF	CKISF	CLPHF	CLPHY	CKISY	SNMRF	HRNNF	SNMRY	CZAVF
TNABY		0.16	0.16	0.43	0.58	0.62	0.73	0.52	0.48	-0.12	TNABY
TNABF	0.16		0.36	0.28	0.53	-0.03	0.23	0.2	0.47	-0.17	TNABF
CKISF	0.16	0.36		-0.08	0.34	-0.16	-0.1	-0.11	0.24	-0.25	CKISF
CLPHF	0.43	0.28	-0.08		0.73	0.35	0.66	0.76	0.79	-0.39	CLPHF
CLPHY	0.58	0.53	0.34	0.73		0.27	0.71	0.69	0.88	-0.27	CLPHY
CKISY	0.62	-0.03	-0.16	0.35	0.27		0.55	0.38	0.21	-0.05	CKISY
SNMRF	0.73	0.23	-0.1	0.66	0.71	0.55		0.71	0.7	-0.25	SNMRF
HRNNF	0.52	0.2	-0.11	0.76	0.69	0.38	0.71		0.72	-0.28	HRNNF
SNMRY	0.48	0.47	0.24	0.79	0.88	0.21	0.7	0.72		-0.44	SNMRY
CZAVF	-0.12	-0.17	-0.25	-0.39	-0.27	-0.05	-0.25	-0.28	-0.44		CZAVF
	TNABY	TNABF	CKISF	CLPHF	CLPHY	CKISY	SNMRF	HRNNF	SNMRY	CZAVF

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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

SNMRY	+ 0.88	CLPHY
SNMRY	+ 0.79	CLPHF
HRNNF	+ 0.76	CLPHF
SNMRF	+ 0.73	TNABY
CLPHY	+ 0.73	CLPHF
SNMRY	+ 0.72	HRNNF

High negative correlations

CZAVF	- 0.44	SNMRY
CZAVF	- 0.39	CLPHF
CZAVF	- 0.28	HRNNF
CZAVF	- 0.27	CLPHY
CZAVF	- 0.25	SNMRF
CZAVF	- 0.25	CKISF

Risk-Adjusted Indicators

There is a big difference between Terna Pink Sheet performing well and Terna Rete 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 Terna Rete'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
TNABY	1.79	0.27	0.02	(0.41)	2.43	(7.62)	5.96	(5.40)	33.33
TNABF	1.74	0.10	0.01	0.36	2.29	(2.64)	6.29	(4.48)	20.64
CKISF	0.59	0.24	0.00	(0.34)	0.00	0.00	0.00	0.00	14.05
CLPHF	0.33	0.14	0.00	0.82	0.00	0.00	0.68	0.00	5.44
CLPHY	0.82	0.16	0.09	0.99	0.70	(1.00)	1.94	(1.35)	4.84
CKISY	0.65	0.01	0.00	0.13	0.00	0.00	2.61	(0.61)	22.05
SNMRF	0.53	0.23	0.00	0.91	0.00	0.00	0.00	0.00	17.90
HRNNF	0.65	0.10	(0.03)	(0.24)	0.66	(0.75)	1.50	(1.21)	3.76
SNMRY	0.61	0.13	0.03	(0.85)	0.60	(0.73)	1.53	(1.23)	4.15
CZAVF	0.03	(0.02)	0.00	2.42	0.00	0.00	0.00	0.00	1.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in Terna Rete 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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Terna Rete Corporate Management

Emilia Rio	Head Organisation	Profile
Ruggero Recchioni	Head Innovation	Profile
Giacomo Donnini	Head Projects	Profile
Alessandro Fiocco	Head Procurement	Profile

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