Transportadora Correlations

TGSU2 Stock

ARS 6,470 180.00 2.86%

The current 90-days correlation between Transportadora de Gas and United States Steel is -0.15 (i.e., Good 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

Very good diversification

The correlation between Transportadora de Gas and DJI is -0.24 (i.e., Very good 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

0.84	EDN	Empresa Distribuidora	Pair Corr
0.89	TECO2	Telecom Argentina	Pair Corr
0.74	PAMP	Pampa Energia SA	Pair Corr
0.65	GGAL	Grupo Financiero Galicia	Pair Corr
0.87	TGNO4	Transportadora de Gas	Pair Corr
0.73	LOMA	Loma Negra Compania	Pair Corr
0.78	CRES	Cresud SA	Pair Corr
0.89	BBAR	BBVA Banco Frances	Pair Corr

Related Correlations Analysis

	TGSU2	X	PFE	GARO	TXR	BABA	TECO2	BMA	HMY	JNJ
TGSU2		-0.15	-0.78	-0.42	-0.78	-0.55	0.89	0.58	-0.58	-0.66	TGSU2
X	-0.15		0.13	0.02	0.35	-0.18	-0.06	-0.19	0.59	0.12	X
PFE	-0.78	0.13		0.78	0.66	0.09	-0.87	-0.72	0.47	0.95	PFE
GARO	-0.42	0.02	0.78		0.42	-0.22	-0.58	-0.69	0.15	0.85	GARO
TXR	-0.78	0.35	0.66	0.42		0.53	-0.62	-0.52	0.55	0.57	TXR
BABA	-0.55	-0.18	0.09	-0.22	0.53		-0.31	0.06	0.21	-0.09	BABA
TECO2	0.89	-0.06	-0.87	-0.58	-0.62	-0.31		0.64	-0.55	-0.79	TECO2
BMA	0.58	-0.19	-0.72	-0.69	-0.52	0.06	0.64		-0.35	-0.77	BMA
HMY	-0.58	0.59	0.47	0.15	0.55	0.21	-0.55	-0.35		0.4	HMY
JNJ	-0.66	0.12	0.95	0.85	0.57	-0.09	-0.79	-0.77	0.4		JNJ
	TGSU2	X	PFE	GARO	TXR	BABA	TECO2	BMA	HMY	JNJ

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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

JNJ	+ 0.95	PFE
TECO2	+ 0.89	TGSU2
JNJ	+ 0.85	GARO
GARO	+ 0.78	PFE
TXR	+ 0.66	PFE
BMA	+ 0.64	TECO2

High negative correlations

TECO2	- 0.87	PFE
JNJ	- 0.79	TECO2
TXR	- 0.78	TGSU2
PFE	- 0.78	TGSU2
JNJ	- 0.77	BMA
BMA	- 0.72	PFE

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
TGSU2	2.02	0.44	0.13	(0.47)	1.88	(2.39)	4.93	(3.23)	10.35
X	2.46	(0.18)	0.00	(0.12)	0.00	0.00	5.42	(4.22)	20.97
PFE	1.07	(0.44)	0.00	(8.68)	0.00	0.00	1.64	(2.79)	9.88
GARO	2.53	(0.07)	0.00	0.33	0.00	0.00	6.18	(4.29)	14.77
TXR	1.53	(0.26)	0.00	(25.81)	0.00	0.00	3.07	(3.06)	8.00
BABA	2.25	(0.14)	0.00	6.38	0.00	0.00	4.60	(4.52)	17.65
TECO2	2.74	0.62	0.22	7.88	2.15	(3.44)	6.90	(4.30)	14.20
BMA	2.31	0.41	0.09	(0.34)	2.43	(2.56)	5.70	(4.29)	13.07
HMY	2.78	(0.43)	0.00	(0.63)	0.00	0.00	6.96	(6.16)	17.14
JNJ	0.88	(0.27)	0.00	0.84	0.00	0.00	1.42	(2.01)	5.66

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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