Transportadora Correlations

TGNO4 Stock

ARS 3,755 340.00 8.30%

The current 90-days correlation between Transportadora de Gas and Naturgy BAN SA is 0.21 (i.e., Modest diversification). The correlation of Transportadora 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.

Transportadora Correlation With Market

Significant diversification

The correlation between Transportadora de Gas and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transportadora de Gas and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Transportadora Stock

0.85	GBAN	Naturgy BAN SA	Pair Corr
0.8	DGCU2	Distribuidora de Gas	Pair Corr
0.92	CRES	Cresud SA	Pair Corr
0.96	IRSA	IRSA Inversiones y Split	Pair Corr
0.69	GGAL	Grupo Financiero Galicia	Pair Corr
0.62	AXP	American Express	Pair Corr
0.79	WMT	Walmart	Pair Corr

Moving against Transportadora Stock

0.91	VALE	Vale SA	Pair Corr
0.62	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	GBAN	TGNO4	DGCU2	WMT	CEPU	BYMA	TGSU2	AXP	LEDE	BBAR
GBAN		0.85	0.76	0.83	0.83	0.78	0.82	0.67	0.91	0.79	GBAN
TGNO4	0.85		0.8	0.79	0.92	0.78	0.93	0.62	0.95	0.78	TGNO4
DGCU2	0.76	0.8		0.55	0.66	0.44	0.61	0.26	0.76	0.41	DGCU2
WMT	0.83	0.79	0.55		0.85	0.93	0.86	0.84	0.83	0.87	WMT
CEPU	0.83	0.92	0.66	0.85		0.91	0.98	0.7	0.93	0.91	CEPU
BYMA	0.78	0.78	0.44	0.93	0.91		0.92	0.86	0.83	0.96	BYMA
TGSU2	0.82	0.93	0.61	0.86	0.98	0.92		0.73	0.92	0.92	TGSU2
AXP	0.67	0.62	0.26	0.84	0.7	0.86	0.73		0.67	0.83	AXP
LEDE	0.91	0.95	0.76	0.83	0.93	0.83	0.92	0.67		0.86	LEDE
BBAR	0.79	0.78	0.41	0.87	0.91	0.96	0.92	0.83	0.86		BBAR
	GBAN	TGNO4	DGCU2	WMT	CEPU	BYMA	TGSU2	AXP	LEDE	BBAR

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Risk-Adjusted Indicators

There is a big difference between Transportadora Stock performing well and Transportadora 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 Transportadora'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
GBAN	2.85	1.19	0.42	1.51	2.01	(3.61)	9.57	(4.76)	16.65
TGNO4	2.31	0.34	0.10	2.89	2.80	(2.28)	4.71	(4.46)	14.23
DGCU2	2.48	0.36	0.11	1.34	2.87	(2.85)	6.12	(5.26)	16.77
WMT	1.04	0.21	0.14	(2.20)	1.03	(1.20)	2.73	(2.08)	5.15
CEPU	2.21	0.37	0.10	(1.13)	2.86	(2.23)	4.25	(4.90)	11.82
BYMA	2.11	0.61	0.28	82.36	1.71	(2.70)	5.36	(2.86)	14.20
TGSU2	2.26	0.50	0.18	(0.95)	2.31	(2.67)	4.93	(4.02)	17.52
AXP	1.44	0.19	0.11	0.49	1.38	(1.69)	3.31	(2.53)	8.56
LEDE	1.77	0.55	0.22	3.18	1.83	(2.06)	5.43	(3.00)	13.46
BBAR	3.00	1.00	0.29	(2.18)	2.57	(3.44)	8.09	(4.48)	23.09

Be your own money manager

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

Elected by the shareholders, the Transportadora's board of directors comprises two types of representatives: Transportadora inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Transportadora. The board's role is to monitor Transportadora's management team and ensure that shareholders' interests are well served. Transportadora's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Transportadora's outside directors are responsible for providing unbiased perspectives on the board's policies.

Carlos Ranzani	Chief Officer	Profile
Ivan Hansen	Public Mang	Profile
Pedro Hryciuk	Technical Mang	Profile
Daniel Ridelener	Chief Officer	Profile
Eduardo Cesario	Chief Administrative Officer	Profile

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