Comp SA Correlations

CMP Stock

182.00 1.00 0.55%

The current 90-days correlation between Comp SA and GreenX Metals is 0.01 (i.e., Significant diversification). The correlation of Comp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Comp SA Correlation With Market

Significant diversification

The correlation between Comp SA and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comp SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Comp 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 Comp 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 Comp 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 Comp SA to buy it.

Moving together with Comp Stock

0.8	JSW	Jastrzebska Spotka	Pair Corr
0.9	KTY	Grupa KTY SA	Pair Corr
0.84	AST	Astarta Holding NV	Pair Corr
0.92	ACP	Asseco Poland SA	Pair Corr
0.69	KOM	Komputronik SA	Pair Corr
0.85	PEO	Bank Polska Kasa	Pair Corr
0.77	DNP	Dino Polska SA	Pair Corr
0.74	SWM	SOFTWARE MANSION SPOLKA	Pair Corr
0.65	KCI	KCI SA	Pair Corr
0.84	LPP	LPP SA Earnings Call Tomorrow	Pair Corr
0.87	ING	ING Bank lski	Pair Corr
0.75	ENA	Enea SA	Pair Corr
0.77	SLT	Saule Technologies	Pair Corr
0.96	PKN	Polski Koncern Naftowy	Pair Corr
0.81	BOS	Bank Ochrony rodowiska	Pair Corr
0.73	KGH	KGHM Polska Miedz Earnings Call This Week	Pair Corr
0.92	SAN	Banco Santander SA	Pair Corr

Moving against Comp Stock

0.64	XTB	X Trade Brokers	Pair Corr
0.45	NNG	Nanogroup SA	Pair Corr
0.35	ECL	Easycall	Pair Corr
0.32	OND	Onde SA	Pair Corr
0.57	NTS	Notoria	Pair Corr
0.49	CFI	CFI Holding SA	Pair Corr

Related Correlations Analysis

	LSI	CFS	P2C	UCG	DAT	GRX	SWM	CLD
LSI		-0.48	-0.53	0.57	0.19	0.31	0.57	-0.39	LSI
CFS	-0.48		0.72	-0.85	-0.22	-0.74	-0.57	0.43	CFS
P2C	-0.53	0.72		-0.73	-0.32	-0.62	-0.64	0.22	P2C
UCG	0.57	-0.85	-0.73		0.45	0.76	0.69	-0.23	UCG
DAT	0.19	-0.22	-0.32	0.45		0.39	0.5	0.4	DAT
GRX	0.31	-0.74	-0.62	0.76	0.39		0.38	-0.22	GRX
SWM	0.57	-0.57	-0.64	0.69	0.5	0.38		-0.03	SWM
CLD	-0.39	0.43	0.22	-0.23	0.4	-0.22	-0.03		CLD
	LSI	CFS	P2C	UCG	DAT	GRX	SWM	CLD

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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

GRX	+ 0.76	UCG
P2C	+ 0.72	CFS
SWM	+ 0.69	UCG
UCG	+ 0.57	LSI
SWM	+ 0.57	LSI
SWM	+ 0.5	DAT

High negative correlations

UCG	- 0.85	CFS
GRX	- 0.74	CFS
UCG	- 0.73	P2C
SWM	- 0.64	P2C
GRX	- 0.62	P2C
SWM	- 0.57	CFS

Risk-Adjusted Indicators

There is a big difference between Comp Stock performing well and Comp 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 Comp 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
LSI	1.55	0.07	0.08	(0.27)	1.64	(2.76)	5.77	(3.16)	14.46
CFS	1.66	(0.21)	0.00	0.62	0.00	0.00	3.85	(4.55)	9.22
P2C	2.46	(0.39)	0.00	1.20	0.00	0.00	4.53	(6.96)	15.59
UCG	1.57	0.59	0.33	4.47	1.17	(1.81)	4.17	(3.04)	9.86
DAT	2.62	0.59	0.26	3.92	2.17	(3.37)	6.87	(3.70)	23.45
GRX	1.91	0.39	0.21	(1.60)	1.72	(2.73)	5.46	(3.48)	14.88
SWM	1.81	0.17	0.09	0.64	2.09	(2.34)	4.48	(3.23)	11.72
CLD	1.96	(0.04)	0.03	0.00	2.44	(2.38)	5.01	(4.09)	13.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in Comp 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.

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