Cantaloupe Correlations

CTLP Stock  USD 11.11  0.02  0.18%   
The current 90-days correlation between Cantaloupe and Quipt Home Medical is -0.05 (i.e., Good diversification). The correlation of Cantaloupe 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.

Cantaloupe Correlation With Market

Weak diversification

The correlation between Cantaloupe and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cantaloupe and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cantaloupe. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.
To learn how to invest in Cantaloupe Stock, please use our How to Invest in Cantaloupe guide.

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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   
CSPIARBB
ALKTCLVT
IIIVFORTY
CLVTFORTY
ALKTFORTY
IIIVCLVT
  
High negative correlations   
FORTYARBB
CSPIFORTY
CLVTARBB
ALKTARBB
ALKTQIPT
IIIVARBB

Risk-Adjusted Indicators

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

Cantaloupe Corporate Management