Cleanaway Waste Correlations

TSPCF Stock

USD 1.76 0.01 0.56%

The correlation of Cleanaway Waste 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.

Cleanaway Waste Correlation With Market

Good diversification

The correlation between Cleanaway Waste Management and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cleanaway Waste Management and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cleanaway Pink Sheet

0.67

TMRAF

Tomra Systems ASA

Pair Corr

Moving against Cleanaway Pink Sheet

0.67	PTAIY	Astra International Tbk	Pair Corr
0.66	TLK	Telkom Indonesia Tbk	Pair Corr
0.59	PPERY	Bank Mandiri Persero	Pair Corr
0.5	EC	Ecopetrol SA ADR	Pair Corr
0.42	FTV	Fortive Corp	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.63	IBM	International Business	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.6	BAC	Bank of America	Pair Corr
0.56	CSCO	Cisco Systems	Pair Corr
0.55	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr
0.33	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	CHFFF	TMRAF	TMRAY	KTWIY	KTWIF	BJINF	UMICY	BFLBF	BAFBF	UMICF
CHFFF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CHFFF
TMRAF	0.0		0.71	-0.43	-0.21	0.0	0.46	0.12	-0.42	0.29	TMRAF
TMRAY	0.0	0.71		-0.16	0.08	0.0	0.4	-0.11	-0.06	0.19	TMRAY
KTWIY	0.0	-0.43	-0.16		0.72	0.0	-0.03	-0.23	0.79	-0.03	KTWIY
KTWIF	0.0	-0.21	0.08	0.72		0.0	-0.04	-0.31	0.71	-0.05	KTWIF
BJINF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	BJINF
UMICY	0.0	0.46	0.4	-0.03	-0.04	0.0		0.67	0.09	0.66	UMICY
BFLBF	0.0	0.12	-0.11	-0.23	-0.31	0.0	0.67		-0.16	0.68	BFLBF
BAFBF	0.0	-0.42	-0.06	0.79	0.71	0.0	0.09	-0.16		0.01	BAFBF
UMICF	0.0	0.29	0.19	-0.03	-0.05	0.0	0.66	0.68	0.01		UMICF
	CHFFF	TMRAF	TMRAY	KTWIY	KTWIF	BJINF	UMICY	BFLBF	BAFBF	UMICF

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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

BAFBF	+ 0.79	KTWIY
KTWIF	+ 0.72	KTWIY
TMRAY	+ 0.71	TMRAF
BAFBF	+ 0.71	KTWIF
UMICF	+ 0.68	BFLBF
BFLBF	+ 0.67	UMICY

High negative correlations

KTWIY	- 0.43	TMRAF
BAFBF	- 0.42	TMRAF
BFLBF	- 0.31	KTWIF
BFLBF	- 0.23	KTWIY
KTWIF	- 0.21	TMRAF
BAFBF	- 0.16	BFLBF

Risk-Adjusted Indicators

There is a big difference between Cleanaway Pink Sheet performing well and Cleanaway Waste 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 Cleanaway Waste'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
CHFFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TMRAF	1.73	(0.07)	0.00	0.38	0.00	0.00	4.41	(5.68)	17.37
TMRAY	1.79	(0.20)	0.00	(0.16)	0.00	0.00	4.14	(2.62)	14.86
KTWIY	1.87	0.26	0.04	(0.59)	2.22	(2.90)	5.35	(3.59)	17.91
KTWIF	1.02	0.38	0.00	(0.30)	0.00	0.00	0.00	(1.03)	19.06
BJINF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UMICY	1.88	0.35	0.10	1.06	2.68	(2.13)	3.84	(3.91)	13.91
BFLBF	0.78	0.24	0.00	(0.28)	0.00	0.00	0.00	0.00	21.54
BAFBF	0.66	0.27	0.00	1.14	0.00	0.00	1.28	(0.23)	12.11
UMICF	2.32	0.31	0.06	3.31	2.67	(3.26)	5.19	(6.40)	16.38

Be your own money manager

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

Johanna Birgersson	Executive General Manager - Human Resources	Profile
Mark Biddulph	Head Affairs	Profile
ACA ACA	Chief Officer	Profile
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