CN YANGTPWR Correlations

CYZB Stock

EUR 33.40 0.20 0.60%

The current 90-days correlation between CN YANGTPWR GDR and SIEMENS ENERGY AG is -0.14 (i.e., Good diversification). The correlation of CN YANGTPWR 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.

CN YANGTPWR Correlation With Market

Very good diversification

The correlation between CN YANGTPWR GDR and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CN YANGTPWR GDR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against CYZB Stock

0.38	9PAA	Pampa Energa SA	Pair Corr
0.37	ENR0	SIEMENS ENERGY AG	Pair Corr
0.32	ENR	Siemens Energy AG	Pair Corr
0.31	HHX	HAMMONIA Schiffsholding	Pair Corr

Related Correlations Analysis

	CYZB	ENR0	ENR	0V6	CENN	BJI	BZB	9PAA	TZ1	06Y
CYZB		-0.37	-0.32	-0.12	-0.14	0.46	-0.23	-0.38	-0.15	0.16	CYZB
ENR0	-0.37		0.98	0.9	0.7	0.05	0.59	0.97	0.79	0.04	ENR0
ENR	-0.32	0.98		0.9	0.75	0.09	0.56	0.97	0.85	0.08	ENR
0V6	-0.12	0.9	0.9		0.59	0.29	0.56	0.86	0.7	0.14	0V6
CENN	-0.14	0.7	0.75	0.59		0.12	0.6	0.78	0.79	0.28	CENN
BJI	0.46	0.05	0.09	0.29	0.12		0.04	-0.03	0.23	0.51	BJI
BZB	-0.23	0.59	0.56	0.56	0.6	0.04		0.64	0.39	0.21	BZB
9PAA	-0.38	0.97	0.97	0.86	0.78	-0.03	0.64		0.82	0.03	9PAA
TZ1	-0.15	0.79	0.85	0.7	0.79	0.23	0.39	0.82		0.11	TZ1
06Y	0.16	0.04	0.08	0.14	0.28	0.51	0.21	0.03	0.11		06Y
	CYZB	ENR0	ENR	0V6	CENN	BJI	BZB	9PAA	TZ1	06Y

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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

ENR	+ 0.98	ENR0
9PAA	+ 0.97	ENR0
9PAA	+ 0.97	ENR
0V6	+ 0.9	ENR0
0V6	+ 0.9	ENR
9PAA	+ 0.86	0V6

High negative correlations

9PAA	- 0.38	CYZB
ENR0	- 0.37	CYZB
ENR	- 0.32	CYZB
BZB	- 0.23	CYZB
TZ1	- 0.15	CYZB
CENN	- 0.14	CYZB

Risk-Adjusted Indicators

There is a big difference between CYZB Stock performing well and CN YANGTPWR 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 CN YANGTPWR'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
CYZB	1.88	0.18	(0.01)	(0.05)	2.90	(2.29)	3.59	(4.92)	25.16
ENR0	1.86	0.83	0.30	(15.48)	1.47	(2.30)	4.77	(3.06)	15.00
ENR	1.86	1.04	0.49	3.04	1.16	(2.33)	4.63	(2.15)	14.01
0V6	3.17	0.87	0.26	0.73	2.72	(3.76)	8.63	(5.69)	19.27
CENN	1.16	0.19	0.06	(1.53)	1.04	(1.56)	2.54	(1.86)	5.61
BJI	1.75	0.28	0.02	(0.48)	2.23	(6.67)	6.25	(5.56)	21.11
BZB	1.28	(0.07)	0.00	(0.44)	0.00	0.00	2.74	(2.58)	12.75
9PAA	1.89	0.68	0.30	1.17	1.26	(2.83)	4.38	(2.83)	12.42
TZ1	2.07	0.70	0.29	4.46	1.42	(2.45)	6.56	(3.47)	13.07
06Y	1.43	0.09	(0.01)	(0.37)	1.98	(1.46)	2.80	(2.89)	10.61

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Our tools can tell you how much better you can do entering a position in CN YANGTPWR 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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