Companhia Energtica Correlations
| COCE5 Preferred Stock | BRL 24.90 0.52 2.13% |
The current 90-days correlation between Companhia Energtica and Light SA is 0.12 (i.e., Average diversification). The correlation of Companhia Energtica 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.
Companhia Energtica Correlation With Market
Average diversification
The correlation between Companhia Energtica do and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Companhia Energtica do and DJI in the same portfolio, assuming nothing else is changed.
Companhia |
The ability to find closely correlated positions to Companhia Energtica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Companhia Energtica 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 Companhia Energtica - 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 Companhia Energtica do to buy it.
Moving together with Companhia Preferred Stock
| 0.88 | ELET3 | Centrais Eltricas | PairCorr |
| 0.91 | ELET6 | Centrais Eltricas | PairCorr |
| 0.91 | ENGI4 | Energisa SA | PairCorr |
| 0.93 | ENGI11 | Energisa SA | PairCorr |
| 0.91 | ALUP4 | Alupar Investimento | PairCorr |
| 0.89 | ALUP3 | Alupar Investimento | PairCorr |
| 0.77 | REDE3 | Rede Energia Participaes | PairCorr |
| 0.85 | NORD3 | Nordon Indstrias Met | PairCorr |
Moving against Companhia Preferred Stock
| 0.78 | ENMT4 | Energisa Mato Grosso | PairCorr |
| 0.6 | EKTR4 | Elektro Redes SA | PairCorr |
| 0.59 | GEPA3 | Rio Paranapanema Energia | PairCorr |
| 0.47 | CGAS3 | Companhia de Gs | PairCorr |
| 0.39 | DUKB34 | Duke Energy | PairCorr |
Related Correlations Analysis
| 0.78 | 0.62 | -0.55 | 0.52 | CPFE3 | ||
| 0.78 | 0.84 | -0.64 | 0.53 | LIGT3 | ||
| 0.62 | 0.84 | -0.73 | 0.43 | ENEV3 | ||
| -0.55 | -0.64 | -0.73 | -0.31 | CGAS5 | ||
| 0.52 | 0.53 | 0.43 | -0.31 | DIRR3 | ||
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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 Companhia Preferred Stock performing well and Companhia Energtica 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 Companhia Energtica'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CPFE3 | 0.65 | (0.11) | 0.00 | 22.10 | 0.00 | 1.12 | 4.43 | |||
| LIGT3 | 2.20 | (0.83) | 0.00 | 9.54 | 0.00 | 3.23 | 31.71 | |||
| ENEV3 | 0.97 | (0.28) | 0.00 | (16.58) | 0.00 | 1.78 | 5.58 | |||
| CGAS5 | 1.28 | 0.15 | 0.01 | (0.66) | 1.59 | 2.78 | 8.29 | |||
| DIRR3 | 1.50 | 0.01 | (0.04) | 0.18 | 2.13 | 3.38 | 11.00 |
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Companhia Energtica Corporate Management
Elected by the shareholders, the Companhia Energtica's board of directors comprises two types of representatives: Companhia Energtica inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Companhia. The board's role is to monitor Companhia Energtica's management team and ensure that shareholders' interests are well served. Companhia Energtica's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Companhia Energtica's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Teobaldo Leal | Investor Relations Officer, Member of the Executive Board | Profile | |
| Janaina Carro | Chief Communication Officer, Member of the Executive Board | Profile | |
| Deborah Brasil | Chief Legal Officer, Member of the Executive Board | Profile | |
| Carlos Moreira | Human Resources Officer, Member of the Executive Board | Profile |