CVW CLEANTECH Correlations

TMD0 Stock

0.63 0.01 1.61%

The current 90-days correlation between CVW CLEANTECH INC and Anglo American plc is -0.07 (i.e., Good diversification). The correlation of CVW CLEANTECH 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.

CVW CLEANTECH Correlation With Market

Significant diversification

The correlation between CVW CLEANTECH INC and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CVW CLEANTECH INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CVW Stock

0.71	VOL4	VOLVO B UNSPADR	Pair Corr
0.69	MUM	MENSCH UND MASCHINE Earnings Call This Week	Pair Corr
0.62	DBPE	Xtrackers LevDAX	Pair Corr

Moving against CVW Stock

0.63

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	NGLB	W2F	3FNA	94P	2DG	IUI1	6HW	CZX	RS6	3RKU
NGLB		-0.46	-0.62	-0.19	0.05	0.59	0.18	-0.1	-0.39	-0.75	NGLB
W2F	-0.46		0.6	0.77	0.04	-0.28	0.37	0.59	0.7	0.77	W2F
3FNA	-0.62	0.6		0.5	0.2	-0.34	0.09	0.36	0.45	0.81	3FNA
94P	-0.19	0.77	0.5		0.08	0.01	0.64	0.67	0.79	0.63	94P
2DG	0.05	0.04	0.2	0.08		0.53	-0.15	0.5	0.17	0.13	2DG
IUI1	0.59	-0.28	-0.34	0.01	0.53		0.15	0.44	0.08	-0.34	IUI1
6HW	0.18	0.37	0.09	0.64	-0.15	0.15		0.33	0.47	0.19	6HW
CZX	-0.1	0.59	0.36	0.67	0.5	0.44	0.33		0.75	0.51	CZX
RS6	-0.39	0.7	0.45	0.79	0.17	0.08	0.47	0.75		0.72	RS6
3RKU	-0.75	0.77	0.81	0.63	0.13	-0.34	0.19	0.51	0.72		3RKU
	NGLB	W2F	3FNA	94P	2DG	IUI1	6HW	CZX	RS6	3RKU

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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

3RKU	+ 0.81	3FNA
RS6	+ 0.79	94P
94P	+ 0.77	W2F
3RKU	+ 0.77	W2F
RS6	+ 0.75	CZX
3RKU	+ 0.72	RS6

High negative correlations

3RKU	- 0.75	NGLB
3FNA	- 0.62	NGLB
W2F	- 0.46	NGLB
RS6	- 0.39	NGLB
3RKU	- 0.34	IUI1
IUI1	- 0.34	3FNA

Risk-Adjusted Indicators

There is a big difference between CVW Stock performing well and CVW CLEANTECH 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 CVW CLEANTECH'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
NGLB	2.17	(0.07)	0.00	(0.06)	0.00	0.00	5.57	(3.22)	18.72
W2F	1.32	0.23	0.05	1.40	1.57	(1.78)	2.30	(2.08)	12.48
3FNA	3.42	0.56	0.13	1.05	3.12	(5.17)	9.27	(6.78)	34.00
94P	1.29	0.14	0.03	0.49	1.48	(1.65)	3.01	(2.63)	10.45
2DG	3.61	0.66	0.12	5.57	2.98	(6.65)	9.68	(5.71)	20.87
IUI1	1.19	0.13	0.01	1.19	1.33	(1.36)	2.92	(1.94)	9.48
6HW	0.63	0.10	(0.01)	1.14	0.65	(1.29)	2.46	(1.79)	5.60
CZX	0.58	0.16	0.03	(4.83)	0.34	(0.96)	1.69	(0.58)	4.92
RS6	1.10	0.31	0.14	(5.28)	0.86	(1.28)	2.81	(1.99)	7.01
3RKU	1.72	0.46	0.15	(46.24)	1.68	(2.22)	4.11	(3.40)	11.00

Be your own money manager

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