CW Enerji Correlations

CWENE Stock

16.89 0.69 3.92%

The current 90-days correlation between CW Enerji SA and Sekerbank TAS is 0.06 (i.e., Significant diversification). The correlation of CW Enerji 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.

CW Enerji Correlation With Market

Average diversification

The correlation between CW Enerji SA and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CW Enerji SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CWENE Stock

0.86	SASA	SASA Polyester Sanayi	Pair Corr
0.94	KCHOL	Koc Holding AS	Pair Corr
0.88	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.82	TUPRS	Turkiye Petrol Rafin	Pair Corr
0.81	EREGL	Eregli Demir ve Split	Pair Corr

Moving against CWENE Stock

0.81	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.81	ODINE	Odine Solutions Teknoloji	Pair Corr
0.74	AKSA	Aksa Akrilik Kimya	Pair Corr
0.69	THYAO	Turkish Airlines	Pair Corr
0.66	ALCTL	Alcatel Lucent Teletas	Pair Corr
0.6	EGGUB	Ege Gubre Sanayi	Pair Corr

Related Correlations Analysis

	SKBNK	DGATE	KOCMT	POLTK	MEGMT	CUSAN	TSPOR	CEOEM
SKBNK		-0.82	0.73	0.4	0.84	0.48	-0.13	-0.07	SKBNK
DGATE	-0.82		-0.55	-0.6	-0.92	-0.2	0.44	-0.04	DGATE
KOCMT	0.73	-0.55		0.08	0.61	0.25	-0.33	0.22	KOCMT
POLTK	0.4	-0.6	0.08		0.59	-0.2	-0.21	-0.02	POLTK
MEGMT	0.84	-0.92	0.61	0.59		0.32	-0.38	0.05	MEGMT
CUSAN	0.48	-0.2	0.25	-0.2	0.32		0.23	-0.25	CUSAN
TSPOR	-0.13	0.44	-0.33	-0.21	-0.38	0.23		-0.64	TSPOR
CEOEM	-0.07	-0.04	0.22	-0.02	0.05	-0.25	-0.64		CEOEM
	SKBNK	DGATE	KOCMT	POLTK	MEGMT	CUSAN	TSPOR	CEOEM

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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

MEGMT	+ 0.84	SKBNK
KOCMT	+ 0.73	SKBNK
MEGMT	+ 0.61	KOCMT
MEGMT	+ 0.59	POLTK
CUSAN	+ 0.48	SKBNK
TSPOR	+ 0.44	DGATE

High negative correlations

MEGMT	- 0.92	DGATE
DGATE	- 0.82	SKBNK
CEOEM	- 0.64	TSPOR
POLTK	- 0.6	DGATE
KOCMT	- 0.55	DGATE
TSPOR	- 0.38	MEGMT

Risk-Adjusted Indicators

There is a big difference between CWENE Stock performing well and CW Enerji 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 CW Enerji'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
SKBNK	1.76	(0.19)	0.00	0.38	0.00	0.00	4.13	(2.97)	18.42
DGATE	2.43	0.69	0.24	(1.24)	2.49	(2.82)	5.27	(3.65)	18.67
KOCMT	1.38	0.13	0.04	(0.27)	2.58	(1.27)	3.05	(1.86)	15.42
POLTK	2.09	0.00	0.00	(0.01)	2.36	(2.66)	9.99	(3.61)	18.47
MEGMT	1.31	(0.31)	0.00	(1.34)	0.00	0.00	2.48	(3.34)	10.13
CUSAN	1.79	0.18	0.09	(0.59)	1.91	(2.09)	4.87	(3.07)	15.01
TSPOR	1.97	0.14	0.06	(7.08)	1.96	(2.97)	6.38	(4.13)	14.55
CEOEM	2.79	0.14	0.04	3.87	3.40	(3.31)	9.95	(5.04)	20.00

CW Enerji Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CW Enerji stock to make a market-neutral strategy. Peer analysis of CW Enerji could also be used in its relative valuation, which is a method of valuing CW Enerji by comparing valuation metrics with similar companies.

Sekerbank TAS Datagate Bilgisayar Malzemeleri KOC METALURJI Politeknik Metal Sanayi MEGA METAL Cuhadaroglu Metal Sanayi Trabzonspor Sportif Yatirim CEO Event Medya American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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