Cotec Construction Correlations

CTD Stock

86,200 800.00 0.92%

The current 90-days correlation between Cotec Construction JSC and Da Nang Construction is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cotec Construction moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cotec Construction JSC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cotec Construction Correlation With Market

Significant diversification

The correlation between Cotec Construction JSC and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cotec Construction JSC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cotec Stock

0.78	ADS	Damsan JSC	Pair Corr
0.63	APG	APG Securities Joint	Pair Corr
0.88	ABT	Bentre Aquaproduct Import	Pair Corr

Moving against Cotec Stock

0.56

AME

Alphanam ME

Pair Corr

Related Correlations Analysis

	DXV	MCF	VTC	HMC	DIH	JVC	VC3	DMC
DXV		0.43	0.5	0.3	-0.15	0.5	-0.48	0.33	DXV
MCF	0.43		0.54	0.17	-0.18	0.49	-0.07	0.11	MCF
VTC	0.5	0.54		0.49	-0.13	0.85	-0.32	-0.08	VTC
HMC	0.3	0.17	0.49		-0.02	0.64	-0.32	-0.21	HMC
DIH	-0.15	-0.18	-0.13	-0.02		-0.15	0.02	-0.29	DIH
JVC	0.5	0.49	0.85	0.64	-0.15		-0.42	-0.12	JVC
VC3	-0.48	-0.07	-0.32	-0.32	0.02	-0.42		-0.31	VC3
DMC	0.33	0.11	-0.08	-0.21	-0.29	-0.12	-0.31		DMC
	DXV	MCF	VTC	HMC	DIH	JVC	VC3	DMC

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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

JVC	+ 0.85	VTC
JVC	+ 0.64	HMC
VTC	+ 0.54	MCF
VTC	+ 0.5	DXV
JVC	+ 0.5	DXV
JVC	+ 0.49	MCF

High negative correlations

VC3	- 0.48	DXV
VC3	- 0.42	JVC
VC3	- 0.32	HMC
VC3	- 0.32	VTC
DMC	- 0.31	VC3
DMC	- 0.29	DIH

Risk-Adjusted Indicators

There is a big difference between Cotec Stock performing well and Cotec Construction 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 Cotec Construction'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
DXV	1.72	0.07	0.03	(0.30)	2.33	(2.46)	5.63	(5.57)	13.75
MCF	0.73	0.02	0.02	0.13	1.04	(1.75)	2.33	(2.35)	6.78
VTC	2.05	0.26	0.13	0.56	1.75	(3.33)	4.60	(3.33)	14.24
HMC	1.52	0.10	0.06	(0.74)	2.06	(1.98)	4.00	(3.27)	13.68
DIH	1.05	0.06	0.04	0.27	1.42	(2.00)	3.90	(1.95)	12.76
JVC	1.86	0.72	0.38	1.44	1.29	(2.29)	6.82	(2.59)	12.14
VC3	0.53	(0.08)	0.00	(7.90)	0.00	0.00	1.08	(1.08)	2.87
DMC	1.93	0.06	0.05	(0.34)	2.04	(2.53)	6.23	(3.50)	13.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cotec Construction 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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