Capex SA Correlations
| CAPX Stock | ARS 5,920 390.00 6.18% |
The current 90-days correlation between Capex SA and United States Steel is 0.1 (i.e., Average diversification). The correlation of Capex SA 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.
Capex SA Correlation With Market
Average diversification
The correlation between Capex SA and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capex SA and DJI in the same portfolio, assuming nothing else is changed.
Capex |
The ability to find closely correlated positions to Capex SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Capex SA 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 Capex SA - 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 Capex SA to buy it.
Moving together with Capex Stock
| 0.9 | YPFD | YPF SA D | PairCorr |
| 0.74 | CRES | Cresud SA | PairCorr |
| 0.89 | CTIO | Consultatio SA | PairCorr |
| 0.77 | ALUA | Aluar Aluminio Argentino | PairCorr |
| 0.69 | PAMP | Pampa Energia SA | PairCorr |
Moving against Capex Stock
| 0.93 | T | ATT Inc | PairCorr |
| 0.89 | IBM | International Business | PairCorr |
| 0.87 | HMY | Harmony Gold Mining | PairCorr |
| 0.81 | MO | Altria Group, | PairCorr |
| 0.68 | TV | Grupo Televisa SAB | PairCorr |
| 0.61 | KO | Coca Cola | PairCorr |
| 0.47 | WMT | Walmart | PairCorr |
| 0.31 | BBD | Banco Bradesco DRC | PairCorr |
| 0.91 | AMGN | Amgen Inc | PairCorr |
| 0.84 | VZ | Verizon Communications | PairCorr |
| 0.81 | BIDU | Baidu, Inc | PairCorr |
| 0.79 | REGE | Garcia Reguera SA | PairCorr |
| 0.78 | TXR | Ternium SA DRC | PairCorr |
| 0.69 | CVX | Chevron Corp CEDEAR | PairCorr |
| 0.57 | BABA | Alibaba Group Holding | PairCorr |
| 0.38 | VALE | Vale SA | PairCorr |
| 0.37 | WFC | Wells Fargo | PairCorr |
| 0.33 | GARO | Garovaglio y Zorraquin | PairCorr |
Related Correlations Analysis
| -0.39 | -0.72 | 0.89 | -0.58 | X | ||
| -0.39 | 0.67 | -0.49 | 0.87 | TGSU2 | ||
| -0.72 | 0.67 | -0.66 | 0.71 | TRAN | ||
| 0.89 | -0.49 | -0.66 | -0.68 | HMY | ||
| -0.58 | 0.87 | 0.71 | -0.68 | TECO2 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Capex Stock performing well and Capex SA 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 Capex SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| X | 2.37 | 0.48 | 0.19 | 3.00 | 2.54 | 5.86 | 13.20 | |||
| TGSU2 | 3.08 | 0.19 | 0.08 | 0.54 | 3.08 | 8.12 | 17.52 | |||
| TRAN | 3.24 | 0.11 | 0.00 | (0.01) | 0.00 | 4.77 | 28.80 | |||
| HMY | 2.37 | 0.78 | 0.29 | 2.34 | 2.31 | 6.43 | 15.52 | |||
| TECO2 | 2.72 | (0.07) | 0.00 | 0.61 | 0.00 | 6.78 | 15.10 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Capex SA 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.Did you try this?
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