Europower Enerji Correlations

EUPWR Stock

35.92 0.22 0.61%

The current 90-days correlation between Europower Enerji and SASA Polyester Sanayi is 0.34 (i.e., Weak diversification). The correlation of Europower 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.

Europower Enerji Correlation With Market

Very good diversification

The correlation between Europower Enerji ve and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Europower Enerji ve and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Europower 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 Europower 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 Europower 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 Europower Enerji ve to buy it.

Moving together with Europower Stock

0.73	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.84	ENKAI	ENKA Insaat ve	Pair Corr
0.9	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.61	SILVR	Silverline Endustri	Pair Corr
0.69	GENTS	Gentas Genel Metal	Pair Corr

Moving against Europower Stock

0.35

TUPRS

Turkiye Petrol Rafin

Pair Corr

Related Correlations Analysis

	SASA	THYAO	KCHOL	FROTO	ENKAI	TUPRS	EREGL	ASELS
SASA		0.7	0.69	-0.33	0.11	0.8	0.57	0.16	SASA
THYAO	0.7		0.68	0.25	0.63	0.5	0.68	0.58	THYAO
KCHOL	0.69	0.68		0.2	0.49	0.38	0.72	0.63	KCHOL
FROTO	-0.33	0.25	0.2		0.77	-0.49	0.13	0.7	FROTO
ENKAI	0.11	0.63	0.49	0.77		-0.18	0.5	0.89	ENKAI
TUPRS	0.8	0.5	0.38	-0.49	-0.18		0.48	-0.19	TUPRS
EREGL	0.57	0.68	0.72	0.13	0.5	0.48		0.55	EREGL
ASELS	0.16	0.58	0.63	0.7	0.89	-0.19	0.55		ASELS
	SASA	THYAO	KCHOL	FROTO	ENKAI	TUPRS	EREGL	ASELS

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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

ASELS	+ 0.89	ENKAI
TUPRS	+ 0.8	SASA
ENKAI	+ 0.77	FROTO
EREGL	+ 0.72	KCHOL
THYAO	+ 0.7	SASA
ASELS	+ 0.7	FROTO

High negative correlations

TUPRS	- 0.49	FROTO
FROTO	- 0.33	SASA
ASELS	- 0.19	TUPRS
TUPRS	- 0.18	ENKAI

Risk-Adjusted Indicators

There is a big difference between Europower Stock performing well and Europower 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 Europower 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
SASA	1.74	(0.02)	(0.02)	0.03	2.33	(1.62)	3.48	(3.48)	10.13
THYAO	1.33	0.03	0.00	0.12	1.53	(1.44)	3.23	(2.55)	7.79
KCHOL	1.57	0.17	0.07	0.42	1.84	(1.73)	4.09	(3.02)	8.99
FROTO	1.55	0.14	0.05	0.38	1.84	(1.77)	3.48	(3.31)	11.45
ENKAI	1.94	0.18	0.06	0.39	2.20	(2.05)	4.75	(3.81)	13.49
TUPRS	1.13	(0.07)	0.00	(0.07)	0.00	0.00	2.49	(2.08)	5.19
EREGL	1.42	0.12	0.05	0.30	1.59	(1.62)	3.19	(2.92)	7.76
ASELS	1.59	0.26	0.11	1.42	1.63	(1.81)	4.55	(3.11)	9.31

Europower 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 Europower Enerji stock to make a market-neutral strategy. Peer analysis of Europower Enerji could also be used in its relative valuation, which is a method of valuing Europower Enerji by comparing valuation metrics with similar companies.

SASA Polyester Sanayi Turkish Airlines Koc Holding AS Ford Otomotiv Sanayi ENKA Insaat ve Turkiye Petrol Rafinerileri Eregli Demir ve Aselsan Elektronik Sanayi American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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