Compagnie Correlations

CODYY Stock

USD 23.56 0.07 0.30%

The current 90-days correlation between Compagnie de Saint and Trane Technologies plc is 0.1 (i.e., Average diversification). The correlation of Compagnie 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Compagnie Correlation With Market

Average diversification

The correlation between Compagnie de Saint Gobain and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compagnie de Saint Gobain and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Compagnie Pink Sheet

0.88	TT	Trane Technologies plc	Pair Corr
0.88	JCI	Johnson Controls Int	Pair Corr
0.87	CARR	Carrier Global Corp	Pair Corr
0.91	CODGF	Compagnie de Saint	Pair Corr
0.8	NIABY	NIBE Industrier AB	Pair Corr
0.78	NDRBF	NIBE Industrier AB	Pair Corr
0.66	BLAGF	Blue Lagoon Resources	Pair Corr
0.7	TUSK	Mammoth Energy Services	Pair Corr
0.65	ALCO	Alico Inc	Pair Corr
0.72	YLLXF	Yellow Cake plc	Pair Corr
0.61	RDDT	Reddit,	Pair Corr
0.89	CSTM	Constellium Nv	Pair Corr
0.74	PCOGF	Pancontinental Oil Gas	Pair Corr
0.83	PTBS	Potomac Bancshares	Pair Corr
0.9	PANW	Palo Alto Networks	Pair Corr
0.74	FBIOP	Fortress Biotech Pref	Pair Corr
0.7	ROKU	Roku Inc	Pair Corr
0.86	IBEX	IBEX	Pair Corr
0.79	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.91	OZK	Bank Ozk	Pair Corr
0.86	PLUS	ePlus inc	Pair Corr

Moving against Compagnie Pink Sheet

0.91	GSTX	Graphene Solar Techn	Pair Corr
0.81	IRNRF	Iron Road Limited	Pair Corr
0.59	451713AA9	US451713AA92	Pair Corr
0.35	035229BP7	US035229BP76	Pair Corr
0.64	26442TAH0	US26442TAH05	Pair Corr
0.56	573284AA4	US573284AA43	Pair Corr
0.48	SMXWW	SMX Public Limited	Pair Corr

Related Correlations Analysis

	TT	AAON	NX	ROCK	CSL	LII	CARR	MAS	OC
TT		0.41	0.4	0.71	0.75	0.5	0.94	0.08	-0.17	TT
AAON	0.41		-0.17	0.36	0.8	0.6	0.46	0.11	0.26	AAON
NX	0.4	-0.17		0.77	0.09	0.43	0.55	0.7	0.26	NX
ROCK	0.71	0.36	0.77		0.54	0.78	0.86	0.71	0.24	ROCK
CSL	0.75	0.8	0.09	0.54		0.6	0.75	0.05	0.2	CSL
LII	0.5	0.6	0.43	0.78	0.6		0.69	0.65	0.36	LII
CARR	0.94	0.46	0.55	0.86	0.75	0.69		0.33	0.03	CARR
MAS	0.08	0.11	0.7	0.71	0.05	0.65	0.33		0.54	MAS
OC	-0.17	0.26	0.26	0.24	0.2	0.36	0.03	0.54		OC
	TT	AAON	NX	ROCK	CSL	LII	CARR	MAS	OC

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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

CARR	+ 0.94	TT
CARR	+ 0.86	ROCK
CSL	+ 0.8	AAON
LII	+ 0.78	ROCK
ROCK	+ 0.77	NX
CSL	+ 0.75	TT

High negative correlations

NX	- 0.17	AAON
OC	- 0.17	TT

Risk-Adjusted Indicators

There is a big difference between Compagnie Pink Sheet performing well and Compagnie 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 Compagnie'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
TT	1.43	0.23	0.12	0.27	1.70	(1.66)	3.07	(3.87)	12.63
AAON	2.35	(0.21)	0.00	(0.11)	0.00	0.00	4.61	(4.24)	29.02
NX	2.87	(0.03)	0.00	0.02	3.25	(3.69)	9.09	(4.67)	18.08
ROCK	1.89	(0.09)	0.00	(0.02)	0.00	0.00	4.48	(3.75)	14.93
CSL	1.41	0.08	0.04	0.13	1.59	(1.67)	3.13	(2.71)	11.58
LII	1.65	(0.08)	0.00	(0.03)	0.00	0.00	3.00	(4.20)	18.90
CARR	1.68	0.09	0.04	0.12	2.13	(1.73)	2.91	(3.56)	15.43
MAS	1.79	(0.16)	0.00	(0.08)	0.00	0.00	2.88	(3.44)	15.75
OC	1.95	(0.15)	0.00	(0.07)	0.00	0.00	3.87	(4.38)	20.45

Be your own money manager

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