Companhia Paranaense Correlations

ELPC Stock

7.42 0.05 0.67%

The current 90-days correlation between Companhia Paranaense and WPP PLC ADR is 0.12 (i.e., Average diversification). The correlation of Companhia Paranaense 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.

Companhia Paranaense Correlation With Market

Weak diversification

The correlation between Companhia Paranaense de and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Companhia Paranaense de and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Companhia Paranaense de. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Companhia Stock

0.63	ED	Consolidated Edison	Pair Corr
0.71	FE	FirstEnergy	Pair Corr
0.67	DUK	Duke Energy	Pair Corr
0.88	FTS	Fortis Inc	Pair Corr
0.61	KEP	Korea Electric Power	Pair Corr
0.84	NGG	National Grid PLC Earnings Call This Week	Pair Corr
0.63	PCG	PGE Corp Sell-off Trend	Pair Corr
0.79	PPL	PPL Corporation	Pair Corr

Moving against Companhia Stock

0.58	VSTE	Vast Renewables	Pair Corr
0.56	CMS-PB	Consumers Energy	Pair Corr
0.31	HE	Hawaiian Electric	Pair Corr
0.46	NEE	Nextera Energy Aggressive Push	Pair Corr
0.37	POR	Portland General Electric	Pair Corr
0.32	LNT	Alliant Energy Corp	Pair Corr

Related Correlations Analysis

	WPP	CMPR	NCMI	IPG	FQVTF	BOSC	SNDL	WVVIP
WPP		0.82	0.79	0.74	-0.63	0.61	0.9	0.0	WPP
CMPR	0.82		0.82	0.65	-0.59	0.33	0.87	0.16	CMPR
NCMI	0.79	0.82		0.48	-0.62	0.41	0.84	0.22	NCMI
IPG	0.74	0.65	0.48		-0.56	0.63	0.72	-0.25	IPG
FQVTF	-0.63	-0.59	-0.62	-0.56		-0.36	-0.71	0.24	FQVTF
BOSC	0.61	0.33	0.41	0.63	-0.36		0.54	0.0	BOSC
SNDL	0.9	0.87	0.84	0.72	-0.71	0.54		-0.04	SNDL
WVVIP	0.0	0.16	0.22	-0.25	0.24	0.0	-0.04		WVVIP
	WPP	CMPR	NCMI	IPG	FQVTF	BOSC	SNDL	WVVIP

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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

SNDL	+ 0.9	WPP
SNDL	+ 0.87	CMPR
SNDL	+ 0.84	NCMI
CMPR	+ 0.82	WPP
NCMI	+ 0.82	CMPR
NCMI	+ 0.79	WPP

High negative correlations

SNDL	- 0.71	FQVTF
FQVTF	- 0.63	WPP
FQVTF	- 0.62	NCMI
FQVTF	- 0.59	CMPR
FQVTF	- 0.56	IPG
BOSC	- 0.36	FQVTF

Risk-Adjusted Indicators

There is a big difference between Companhia Stock performing well and Companhia Paranaense 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 Companhia Paranaense'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
WPP	1.77	(0.32)	0.00	0.69	0.00	0.00	3.20	(4.33)	17.56
CMPR	2.33	(0.38)	0.00	(0.47)	0.00	0.00	4.54	(5.34)	18.48
NCMI	2.42	(0.36)	0.00	(0.80)	0.00	0.00	4.10	(4.81)	20.91
IPG	1.67	(0.06)	0.00	(0.17)	0.00	0.00	3.11	(3.72)	16.38
FQVTF	1.68	0.19	0.09	1.12	1.84	(3.45)	5.65	(4.34)	13.63
BOSC	2.01	0.14	0.07	0.13	2.40	(2.22)	4.42	(4.01)	10.62
SNDL	2.15	(0.32)	0.00	(0.49)	0.00	0.00	3.76	(3.90)	14.82
WVVIP	1.55	0.04	0.07	(6.43)	1.90	(1.88)	3.89	(3.67)	10.24

Companhia Paranaense Corporate Management

Adriano Moura	Investor Finance	Profile
Maximiliano Orfali	Chief SA	Profile
Eduardo Barbosa	Regulatory Legal	Profile
Fernando Gruppelli	Deputy Board	Profile
Diogo Cord	New Strategy	Profile

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