Clean Power Correlations

CPH2 Stock

6.60 0.30 4.35%

The current 90-days correlation between Clean Power Hydrogen and Santacruz Silver Mining is 0.08 (i.e., Significant diversification). The correlation of Clean Power 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.

Clean Power Correlation With Market

Modest diversification

The correlation between Clean Power Hydrogen and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clean Power Hydrogen and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Clean Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Power 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 Clean Power - 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 Clean Power Hydrogen to buy it.

Moving together with Clean Stock

0.78

CAM

Camellia Plc

Pair Corr

Moving against Clean Stock

0.72	MHPC	MHP SE	Pair Corr
0.72	VAST	Vast Resources PLC	Pair Corr
0.72	0NVV	Hera SpA Earnings Call Today	Pair Corr
0.69	MVI	Marwyn Value Investors	Pair Corr
0.69	0NIS	SBM Offshore NV	Pair Corr
0.68	NET	Netcall plc	Pair Corr
0.63	ADVT	AdvancedAdvT	Pair Corr
0.63	AZN	AstraZeneca PLC	Pair Corr
0.63	ACG	ACG Acquisition	Pair Corr
0.56	0MPH	Deutsche Telekom	Pair Corr
0.54	0HTP	AB Volvo	Pair Corr
0.5	SRB	Serabi Gold PLC	Pair Corr
0.47	0GWS	BillerudKorsnas AB	Pair Corr
0.46	0QNY	3M Co	Pair Corr
0.46	ZEN	Zenith Energy	Pair Corr
0.4	KEFI	KEFI Gold	Pair Corr
0.39	XPS	XPS Pensions Group	Pair Corr

Related Correlations Analysis

	0R20	0QZ2	BRWM	0W19	BEM	GRX	0E3C	0R0U
0R20		0.47	-0.51	-0.34	0.46	0.1	-0.11	-0.6	0R20
0QZ2	0.47		-0.09	-0.66	0.78	0.58	-0.45	-0.41	0QZ2
BRWM	-0.51	-0.09		0.06	-0.21	0.05	-0.23	0.71	BRWM
0W19	-0.34	-0.66	0.06		-0.66	-0.64	0.72	0.4	0W19
BEM	0.46	0.78	-0.21	-0.66		0.58	-0.48	-0.38	BEM
GRX	0.1	0.58	0.05	-0.64	0.58		-0.7	0.03	GRX
0E3C	-0.11	-0.45	-0.23	0.72	-0.48	-0.7		0.02	0E3C
0R0U	-0.6	-0.41	0.71	0.4	-0.38	0.03	0.02		0R0U
	0R20	0QZ2	BRWM	0W19	BEM	GRX	0E3C	0R0U

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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

BEM	+ 0.78	0QZ2
0E3C	+ 0.72	0W19
0R0U	+ 0.71	BRWM
GRX	+ 0.58	0QZ2
GRX	+ 0.58	BEM
0QZ2	+ 0.47	0R20

High negative correlations

0E3C	- 0.7	GRX
BEM	- 0.66	0W19
0W19	- 0.66	0QZ2
GRX	- 0.64	0W19
0R0U	- 0.6	0R20
BRWM	- 0.51	0R20

Risk-Adjusted Indicators

There is a big difference between Clean Stock performing well and Clean Power 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 Clean Power'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
0R20	5.67	0.86	0.15	(1.03)	5.87	(7.01)	12.12	(10.34)	34.29
0QZ2	1.68	0.37	0.17	0.90	1.56	(2.97)	5.28	(3.18)	13.60
BRWM	1.10	(0.01)	0.00	(0.15)	0.00	0.00	2.23	(2.15)	6.69
0W19	1.47	(0.12)	0.00	(0.36)	0.00	0.00	2.76	(3.05)	13.65
BEM	1.91	0.49	0.00	0.19	0.00	0.00	9.38	(3.33)	30.26
GRX	1.31	0.24	0.11	(0.52)	1.35	(3.21)	5.19	(2.86)	11.98
0E3C	1.30	(0.15)	0.00	(0.39)	0.00	0.00	2.20	(2.59)	12.07
0R0U	2.96	(0.22)	0.00	60.23	0.00	0.00	6.34	(5.98)	22.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Clean Power 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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