Cool Correlations

Stocks . USA . 
Stock . Cool Company
CLCO Stock   6.73  0.15  2.18%   
The current 90-days correlation between Cool Company and Weyco Group is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cool moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cool Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cool Correlation With Market

Modest diversification

The correlation between Cool Company and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cool Company and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cool Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Cool Stock

  0.79TK TeekayPairCorr
  0.71IMPPP Imperial PetroleumPairCorr
  0.65DTM DT MidstreamPairCorr
  0.77GEL Genesis Energy LPPairCorr
  0.63GLP Global Partners LPPairCorr
  0.69LPG Dorian LPGPairCorr
  0.82NGL NGL Energy PartnersPairCorr
  0.64PBT Permian Basin RoyaltyPairCorr
  0.7GLOP-PB GasLog Partners LPPairCorr
  0.69GLOP-PA GasLog Partners LPPairCorr
  0.81GLOP-PC GasLog Partners LPPairCorr
  0.75TEN Tsakos Energy NavigationPairCorr
  0.7EP-PC El Paso EnergyPairCorr
  0.63GLNG Golar LNG Limited Potential GrowthPairCorr
  0.83IMPP Imperial PetroleumPairCorr
  0.78INSW International SeawaysPairCorr
  0.67SEAL-PA Seapeak LLCPairCorr

Moving against Cool Stock

  0.66SMC Summit Midstream Symbol ChangePairCorr
  0.47CQP Cheniere Energy PartnersPairCorr
  0.37TRP TC Energy CorpPairCorr
  0.36PBA Pembina Pipeline CorpPairCorr
  0.58BANL CBL InternationalPairCorr
  0.5DLNG-PB Dynagas LNG PartnersPairCorr
  0.43ET-PI Energy Transfer LPPairCorr

Related Correlations Analysis

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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   
DINO
+ 0.85
RYAAY
EWCZ
+ 0.84
RYAAY
DINO
+ 0.8
DAL
DAL
+ 0.74
RYAAY
EWCZ
+ 0.7
SKX
DINO
+ 0.7
EWCZ
  
High negative correlations   
WEYS
- 0.16
CHD
SKX
- 0.13
CHD
CHD
- 0.06
DAL

Risk-Adjusted Indicators

There is a big difference between Cool Stock performing well and Cool 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 Cool'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.

Cool Corporate Management

Johannes BootsChief OfficerProfile
Bryan DegnanFinancialInvestor RelationsProfile
Christopher BergslandChief OfficerProfile
Stuart BuchananHead RelationsProfile
Oistein DahlChief OfficerProfile
Sarah ChoudhrySecretary CounselProfile
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