Companhia Paranaense Correlations

ELPA Stock

EUR 1.44 0.09 5.88%

The current 90-days correlation between Companhia Paranaense and United States Steel is -0.1 (i.e., Good diversification). The correlation of Companhia Paranaense 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.

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

Moving against Companhia Stock

0.42	SE4	Sempra	Pair Corr
0.42	WMT	Walmart	Pair Corr
0.42	WMT	Walmart	Pair Corr
0.42	AMZ	Amazon Inc	Pair Corr
0.42	AMZ	Amazon Inc	Pair Corr

Related Correlations Analysis

	4KH	719	USX1	CMR	BH5	14N1	BH5	ZSL
4KH		0.0	0.0	0.0	0.0	0.0	0.0	0.0	4KH
719	0.0		0.73	-0.25	0.22	-0.06	0.17	0.55	719
USX1	0.0	0.73		-0.22	0.4	-0.01	0.41	0.62	USX1
CMR	0.0	-0.25	-0.22		0.41	-0.41	0.35	-0.54	CMR
BH5	0.0	0.22	0.4	0.41		-0.33	0.89	0.18	BH5
14N1	0.0	-0.06	-0.01	-0.41	-0.33		-0.33	0.36	14N1
BH5	0.0	0.17	0.41	0.35	0.89	-0.33		0.14	BH5
ZSL	0.0	0.55	0.62	-0.54	0.18	0.36	0.14		ZSL
	4KH	719	USX1	CMR	BH5	14N1	BH5	ZSL

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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

BH5	+ 0.89	BH5
USX1	+ 0.73	719
ZSL	+ 0.62	USX1
ZSL	+ 0.55	719
BH5	+ 0.41	USX1
BH5	+ 0.41	CMR

High negative correlations

ZSL	- 0.54	CMR
14N1	- 0.41	CMR
BH5	- 0.33	14N1
14N1	- 0.33	BH5
CMR	- 0.25	719
CMR	- 0.22	USX1

Risk-Adjusted Indicators

There is a big difference between Companhia Stock performing well and Companhia Paranaense 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 Companhia Paranaense'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
4KH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
719	2.06	0.00	(0.01)	0.11	2.30	(2.94)	2.99	(3.85)	29.13
USX1	2.24	0.16	0.04	0.36	2.76	(2.78)	5.42	(4.86)	15.57
CMR	1.50	0.08	(0.03)	(0.10)	2.01	(2.52)	5.74	(4.92)	17.78
BH5	1.72	0.09	0.02	0.28	1.90	(2.07)	3.23	(3.60)	10.66
14N1	0.77	(0.04)	(0.07)	0.05	1.05	(0.90)	2.08	(1.63)	6.16
BH5	1.74	0.01	0.03	0.12	1.89	(2.03)	3.25	(3.62)	10.33
ZSL	0.95	0.17	0.11	0.48	0.72	(1.11)	2.65	(1.30)	6.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Companhia Paranaense 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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Companhia Paranaense Corporate Management

Elected by the shareholders, the Companhia Paranaense's board of directors comprises two types of representatives: Companhia Paranaense inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Companhia. The board's role is to monitor Companhia Paranaense's management team and ensure that shareholders' interests are well served. Companhia Paranaense's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Companhia Paranaense's outside directors are responsible for providing unbiased perspectives on the board's policies.

Daniel Slaviero	Member CEO	Profile
Henrique Neto	Chief Officer	Profile
Ana Feller	Chief Board	Profile
Vlademir Daleffe	CEO Distribution	Profile
Adriano Moura	Chief Board	Profile
Eduardo Barbosa	Regulatory Legal	Profile
Cassio Silva	Chief Board	Profile

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