Corporacion America Correlations

CAAP Stock

USD 18.81 0.02 0.11%

The current 90-days correlation between Corporacion America and Flughafen Zrich AG is 0.02 (i.e., Significant diversification). The correlation of Corporacion America 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.

Corporacion America Correlation With Market

Weak diversification

The correlation between Corporacion America Airports and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Corporacion America Airports 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 Corporacion America Airports. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Corporacion Stock

0.61	UP	Wheels Up Experience	Pair Corr
0.67	JOBY	Joby Aviation Aggressive Push	Pair Corr
0.61	BLDEW	Blade Air Mobility	Pair Corr
0.62	BLDE	Blade Air Mobility	Pair Corr
0.72	J	Jacobs Solutions	Pair Corr
0.65	AP	Ampco Pittsburgh	Pair Corr
0.65	BV	BrightView Holdings	Pair Corr
0.63	CW	Curtiss Wright	Pair Corr
0.77	DY	Dycom Industries	Pair Corr
0.66	FA	First Advantage Corp	Pair Corr
0.7	HI	Hillenbrand	Pair Corr
0.63	HY	Hyster Yale Materials	Pair Corr
0.7	IR	Ingersoll Rand Sell-off Trend	Pair Corr
0.62	PH	Parker Hannifin	Pair Corr

Moving against Corporacion Stock

0.4	ASLE	AerSale Corp	Pair Corr
0.61	SB	Safe Bulkers	Pair Corr
0.53	PC	Premium Catering	Pair Corr
0.36	EH	Ehang Holdings	Pair Corr
0.35	WM	Waste Management	Pair Corr
0.34	LZ	LegalZoom	Pair Corr

Related Correlations Analysis

	ASR	PAC	ASLE	FLGZY	OMAB	ARRPY	APTPF	AUKNY	ANNSF	ANYYY
ASR		0.78	0.47	0.15	0.9	-0.01	-0.02	0.39	0.46	0.5	ASR
PAC	0.78		0.32	0.23	0.84	0.01	-0.2	0.4	0.4	0.42	PAC
ASLE	0.47	0.32		0.21	0.58	0.49	-0.59	0.0	0.86	0.88	ASLE
FLGZY	0.15	0.23	0.21		0.1	0.27	-0.29	-0.1	0.31	0.27	FLGZY
OMAB	0.9	0.84	0.58	0.1		0.03	-0.21	0.45	0.54	0.58	OMAB
ARRPY	-0.01	0.01	0.49	0.27	0.03		-0.75	-0.47	0.59	0.52	ARRPY
APTPF	-0.02	-0.2	-0.59	-0.29	-0.21	-0.75		0.35	-0.59	-0.54	APTPF
AUKNY	0.39	0.4	0.0	-0.1	0.45	-0.47	0.35		-0.03	0.05	AUKNY
ANNSF	0.46	0.4	0.86	0.31	0.54	0.59	-0.59	-0.03		0.96	ANNSF
ANYYY	0.5	0.42	0.88	0.27	0.58	0.52	-0.54	0.05	0.96		ANYYY
	ASR	PAC	ASLE	FLGZY	OMAB	ARRPY	APTPF	AUKNY	ANNSF	ANYYY

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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

ANYYY	+ 0.96	ANNSF
OMAB	+ 0.9	ASR
ANYYY	+ 0.88	ASLE
ANNSF	+ 0.86	ASLE
OMAB	+ 0.84	PAC
PAC	+ 0.78	ASR

High negative correlations

APTPF	- 0.75	ARRPY
ANNSF	- 0.59	APTPF
APTPF	- 0.59	ASLE
ANYYY	- 0.54	APTPF
AUKNY	- 0.47	ARRPY
APTPF	- 0.29	FLGZY

Risk-Adjusted Indicators

There is a big difference between Corporacion Stock performing well and Corporacion America 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 Corporacion America'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
ASR	1.60	0.08	0.04	0.06	1.89	(1.69)	2.92	(3.29)	13.79
PAC	1.62	0.07	0.03	0.08	1.85	(1.69)	3.31	(2.76)	8.63
ASLE	1.44	0.51	0.34	0.68	1.00	(1.71)	3.05	(2.22)	20.43
FLGZY	0.36	(0.03)	0.00	0.24	0.00	0.00	0.00	(1.33)	11.57
OMAB	1.79	0.19	0.08	0.20	2.22	(1.83)	3.71	(3.57)	11.84
ARRPY	0.55	0.04	0.00	(0.61)	0.00	0.00	0.00	0.00	16.46
APTPF	4.85	(0.17)	0.00	(0.15)	0.00	0.00	11.52	(13.89)	56.40
AUKNY	1.97	0.04	0.01	0.10	2.82	(2.46)	4.63	(4.47)	22.64
ANNSF	0.93	0.18	0.13	6.14	1.04	(1.16)	2.36	(2.23)	5.68
ANYYY	1.25	0.23	0.14	0.38	1.33	(1.25)	2.36	(2.25)	6.75

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