Compania Correlations

TRAN Stock

ARS 2,480 65.00 2.55%

The current 90-days correlation between Compania de Transporte and Ledesma SAAI is 0.3 (i.e., Weak 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

Good diversification

The correlation between Compania de Transporte and DJI is -0.07 (i.e., 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

0.89	PAMP	Pampa Energia SA	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.84	TGNO4	Transportadora de Gas	Pair Corr
0.86	EDN	Empresa Distribuidora	Pair Corr
0.9	METR	Metrogas SA	Pair Corr
0.85	BBAR	BBVA Banco Frances	Pair Corr
0.88	LEDE	Ledesma SAAI	Pair Corr
0.79	TECO2	Telecom Argentina	Pair Corr
0.71	AXP	American Express	Pair Corr
0.89	CRES	Cresud SA	Pair Corr
0.72	AGRO	Agrometal SAI	Pair Corr
0.91	BYMA	Bolsas y Mercados	Pair Corr
0.91	CEPU	Central Puerto SA	Pair Corr
0.9	YPFD	YPF SA D	Pair Corr
0.88	VALO	Banco de Valores	Pair Corr
0.87	TGSU2	Transportadora de Gas	Pair Corr
0.75	MIRG	Mirgor SA	Pair Corr

Moving against Compania Stock

0.47

Coca Cola

Pair Corr

Related Correlations Analysis

	PAMP	TRAN	AXP	TGSU2	CEPU	LEDE	WMT	BBAR	BYMA	ALUA
PAMP		0.89	0.8	0.97	0.96	0.9	0.94	0.93	0.95	0.5	PAMP
TRAN	0.89		0.71	0.87	0.91	0.88	0.89	0.85	0.91	0.52	TRAN
AXP	0.8	0.71		0.73	0.7	0.67	0.84	0.83	0.86	0.19	AXP
TGSU2	0.97	0.87	0.73		0.98	0.92	0.86	0.92	0.92	0.51	TGSU2
CEPU	0.96	0.91	0.7	0.98		0.93	0.85	0.91	0.91	0.52	CEPU
LEDE	0.9	0.88	0.67	0.92	0.93		0.83	0.86	0.83	0.6	LEDE
WMT	0.94	0.89	0.84	0.86	0.85	0.83		0.87	0.93	0.47	WMT
BBAR	0.93	0.85	0.83	0.92	0.91	0.86	0.87		0.96	0.28	BBAR
BYMA	0.95	0.91	0.86	0.92	0.91	0.83	0.93	0.96		0.35	BYMA
ALUA	0.5	0.52	0.19	0.51	0.52	0.6	0.47	0.28	0.35		ALUA
	PAMP	TRAN	AXP	TGSU2	CEPU	LEDE	WMT	BBAR	BYMA	ALUA

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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
PAMP	1.66	0.45	0.20	(2.79)	1.80	(1.88)	4.25	(2.95)	10.62
TRAN	2.72	0.56	0.17	(1.69)	2.70	(3.35)	7.11	(4.45)	24.01
AXP	1.44	0.19	0.11	0.49	1.38	(1.69)	3.31	(2.53)	8.56
TGSU2	2.26	0.50	0.18	(0.95)	2.31	(2.67)	4.93	(4.02)	17.52
CEPU	2.21	0.37	0.10	(1.13)	2.86	(2.23)	4.25	(4.90)	11.82
LEDE	1.77	0.55	0.22	3.18	1.83	(2.06)	5.43	(3.00)	13.46
WMT	1.04	0.21	0.14	(2.20)	1.03	(1.20)	2.73	(2.08)	5.15
BBAR	3.00	1.00	0.29	(2.18)	2.57	(3.44)	8.09	(4.48)	23.09
BYMA	2.11	0.61	0.28	82.36	1.71	(2.70)	5.36	(2.86)	14.20
ALUA	1.89	(0.06)	0.00	0.26	0.00	0.00	4.67	(4.01)	11.67

Be your own money manager

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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