Compania Correlations

TRAN Stock

ARS 2,130 80.00 3.62%

The current 90-days correlation between Compania de Transporte and United States Steel is -0.01 (i.e., Good diversification). The correlation of Compania 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.

Compania Correlation With Market

Very good diversification

The correlation between Compania de Transporte and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compania de Transporte and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Compania Stock

0.85	PAMP	Pampa Energia SA	Pair Corr
0.7	YPFD	YPF SA D	Pair Corr
0.79	CRES	Cresud SA	Pair Corr
0.66	CTIO	Consultatio SA	Pair Corr

Moving against Compania Stock

0.53	BHP	BHP Group Limited	Pair Corr
0.46	ALUA	Aluar Aluminio Argentino	Pair Corr

Related Correlations Analysis

	TRAN	X	PFE	GARO	TXR	BABA	TECO2	BMA	HMY	JNJ
TRAN		-0.17	-0.86	-0.71	-0.56	0.04	0.82	0.8	-0.46	-0.85	TRAN
X	-0.17		0.13	0.02	0.35	-0.18	-0.06	-0.19	0.59	0.12	X
PFE	-0.86	0.13		0.78	0.66	0.09	-0.87	-0.72	0.47	0.95	PFE
GARO	-0.71	0.02	0.78		0.42	-0.22	-0.58	-0.69	0.15	0.85	GARO
TXR	-0.56	0.35	0.66	0.42		0.53	-0.62	-0.52	0.55	0.57	TXR
BABA	0.04	-0.18	0.09	-0.22	0.53		-0.31	0.06	0.21	-0.09	BABA
TECO2	0.82	-0.06	-0.87	-0.58	-0.62	-0.31		0.64	-0.55	-0.79	TECO2
BMA	0.8	-0.19	-0.72	-0.69	-0.52	0.06	0.64		-0.35	-0.77	BMA
HMY	-0.46	0.59	0.47	0.15	0.55	0.21	-0.55	-0.35		0.4	HMY
JNJ	-0.85	0.12	0.95	0.85	0.57	-0.09	-0.79	-0.77	0.4		JNJ
	TRAN	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
JNJ	+ 0.85	GARO
TECO2	+ 0.82	TRAN
BMA	+ 0.8	TRAN
GARO	+ 0.78	PFE
TXR	+ 0.66	PFE

High negative correlations

TECO2	- 0.87	PFE
PFE	- 0.86	TRAN
JNJ	- 0.85	TRAN
JNJ	- 0.79	TECO2
JNJ	- 0.77	BMA
BMA	- 0.72	PFE

Risk-Adjusted Indicators

There is a big difference between Compania Stock performing well and Compania 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 Compania'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
TRAN	2.19	0.58	0.16	(0.53)	2.34	(2.71)	4.64	(3.12)	16.21
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

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Our tools can tell you how much better you can do entering a position in Compania 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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