Cool Correlations

CLCO Stock

7.75 0.58 6.96%

The current 90-days correlation between Cool Company and Porvair plc is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cool moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cool Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cool Correlation With Market

Significant diversification

The correlation between Cool Company 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 Cool Company 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 Cool Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Cool Stock

0.66	TK	Teekay	Pair Corr
0.74	DHT	DHT Holdings	Pair Corr
0.82	FRO	Frontline	Pair Corr
0.61	GEL	Genesis Energy LP	Pair Corr
0.78	LPG	Dorian LPG	Pair Corr
0.85	NAT	Nordic American Tankers	Pair Corr
0.83	PXS	Pyxis Tankers	Pair Corr
0.84	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.81	TNK	Teekay Tankers	Pair Corr

Moving against Cool Stock

0.85	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.81	CQP	Cheniere Energy Partners	Pair Corr
0.81	EPD	Enterprise Products	Pair Corr
0.77	DLNG	Dynagas LNG Partners	Pair Corr
0.76	ENLC	EnLink Midstream LLC	Pair Corr
0.76	GLP	Global Partners LP	Pair Corr
0.73	DTM	DT Midstream	Pair Corr
0.71	EE	Excelerate Energy	Pair Corr
0.71	LNG	Cheniere Energy	Pair Corr
0.7	OKE	ONEOK Inc	Pair Corr
0.66	ENB	Enbridge Sell-off Trend	Pair Corr
0.66	KMI	Kinder Morgan Fiscal Year End 15th of January 2025	Pair Corr
0.6	VNOM	Viper Energy Ut	Pair Corr
0.58	IMPPP	Imperial Petroleum	Pair Corr
0.53	PBT	Permian Basin Royalty	Pair Corr
0.46	GLOP-PC	GasLog Partners LP	Pair Corr
0.42	AM	Antero Midstream Partners	Pair Corr
0.37	PAA	Plains All American	Pair Corr
0.33	GLOP-PB	GasLog Partners LP	Pair Corr
0.81	MPLX	MPLX LP	Pair Corr
0.67	GLP-PB	Global Partners LP	Pair Corr
0.66	WMB	Williams Companies	Pair Corr
0.66	KNTK	Kinetik Holdings	Pair Corr
0.6	DLNG-PB	Dynagas LNG Partners	Pair Corr
0.59	ET-PI	Energy Transfer LP	Pair Corr
0.55	DLNG-PA	Dynagas LNG Partners	Pair Corr
0.53	TRP	TC Energy Corp	Pair Corr

Related Correlations Analysis

	MFGCF	CAAP	PVARF	AVNT	TME	CF	MESA
MFGCF		0.55	0.58	0.25	0.53	0.29	-0.48	MFGCF
CAAP	0.55		0.64	0.66	0.42	0.62	-0.63	CAAP
PVARF	0.58	0.64		0.36	0.08	0.21	-0.9	PVARF
AVNT	0.25	0.66	0.36		0.41	0.69	-0.4	AVNT
TME	0.53	0.42	0.08	0.41		0.7	-0.13	TME
CF	0.29	0.62	0.21	0.69	0.7		-0.29	CF
MESA	-0.48	-0.63	-0.9	-0.4	-0.13	-0.29		MESA
	MFGCF	CAAP	PVARF	AVNT	TME	CF	MESA

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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

CF	+ 0.7	TME
CF	+ 0.69	AVNT
AVNT	+ 0.66	CAAP
PVARF	+ 0.64	CAAP
CF	+ 0.62	CAAP
PVARF	+ 0.58	MFGCF

High negative correlations

MESA	- 0.9	PVARF
MESA	- 0.63	CAAP
MESA	- 0.48	MFGCF
MESA	- 0.4	AVNT
MESA	- 0.29	CF
MESA	- 0.13	TME

Risk-Adjusted Indicators

There is a big difference between Cool Stock performing well and Cool 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 Cool'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
MFGCF	1.61	0.07	(0.02)	(1.36)	1.98	(2.61)	3.40	(4.76)	15.39
CAAP	1.85	0.25	0.08	0.64	1.98	(2.09)	4.29	(2.95)	14.36
PVARF	0.37	0.09	0.00	0.69	0.00	0.00	0.00	0.00	10.45
AVNT	1.38	(0.10)	(0.01)	0.06	1.53	(1.48)	2.92	(2.41)	8.03
TME	2.45	0.22	0.07	0.50	2.22	(3.16)	6.84	(4.81)	21.86
CF	1.21	0.15	0.02	(7.37)	1.80	(1.10)	2.17	(2.22)	6.82
MESA	2.89	(0.27)	0.00	(0.50)	0.00	0.00	6.19	(6.38)	28.65

Cool Corporate Management

Johannes Boots	Chief Officer	Profile
Christopher Bergsland	Chief Officer	Profile
Stuart Buchanan	Head Relations	Profile
Oistein Dahl	Chief Officer	Profile
Sarah Choudhry	Secretary Counsel	Profile

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