Qwest Corp Correlations

CTDD Stock

USD 18.43 0.07 0.38%

The current 90-days correlation between Qwest Corp 6 and Qwest Corp NT is 0.73 (i.e., Poor diversification). The correlation of Qwest Corp 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.

Qwest Corp Correlation With Market

Weak diversification

The correlation between Qwest Corp 6 and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qwest Corp 6 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 Qwest Corp 6. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Qwest Stock

0.78	T	ATT Inc Earnings Call This Week	Pair Corr
0.79	TU	Telus Corp	Pair Corr
0.89	VZ	Verizon Communications Aggressive Push	Pair Corr
0.62	CHT	Chunghwa Telecom	Pair Corr
0.7	PHI	PLDT Inc ADR	Pair Corr
0.92	TEF	Telefonica SA ADR	Pair Corr
0.81	VOD	Vodafone Group PLC	Pair Corr
0.68	ASTS	Ast Spacemobile	Pair Corr
0.83	ATEX	Anterix	Pair Corr

Moving against Qwest Stock

0.56	TEO	Telecom Argentina	Pair Corr
0.61	GOGO	Gogo Inc Buyout Trend	Pair Corr
0.56	TLK	Telkom Indonesia Tbk	Pair Corr
0.51	GSAT	Globalstar, Common Stock Potential Growth	Pair Corr
0.4	UCL	Ucloudlink Group	Pair Corr
0.34	LUMN	Lumen Technologies	Pair Corr

Related Correlations Analysis

	CTBB	TBB	TBC	SOJC	EAI
CTBB		-0.28	0.0	0.03	0.28	CTBB
TBB	-0.28		0.0	-0.04	0.13	TBB
TBC	0.0	0.0		0.0	0.0	TBC
SOJC	0.03	-0.04	0.0		0.73	SOJC
EAI	0.28	0.13	0.0	0.73		EAI
	CTBB	TBB	TBC	SOJC	EAI

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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

EAI	+ 0.73	SOJC
EAI	+ 0.28	CTBB
EAI	+ 0.13	TBB
SOJC	+ 0.03	CTBB
TBC	+ 0.0	CTBB
TBC	+ 0.0	TBB

High negative correlations

TBB	- 0.28	CTBB
SOJC	- 0.04	TBB
EAI	- 0.0	TBC
SOJC	- 0.0	TBC
TBC	- 0.0	TBB
TBC	- 0.0	CTBB

Risk-Adjusted Indicators

There is a big difference between Qwest Stock performing well and Qwest Corp 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 Qwest Corp'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
CTBB	0.57	0.08	0.18	0.25	0.74	(0.61)	1.60	(1.10)	3.46
TBB	0.38	0.04	0.29	0.19	0.33	(0.49)	0.92	(0.67)	2.06
TBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SOJC	0.58	(0.03)	0.00	(0.23)	0.00	0.00	1.34	(1.31)	4.50
EAI	0.71	0.00	0.00	(0.10)	0.00	0.00	1.79	(1.36)	4.99

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