Caltagirone SpA Correlations

QCG Stock

7.12 0.24 3.26%

The current 90-days correlation between Caltagirone SpA and MAVEN WIRELESS SWEDEN is -0.06 (i.e., Good diversification). The correlation of Caltagirone SpA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Caltagirone SpA Correlation With Market

Good diversification

The correlation between Caltagirone SpA and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caltagirone SpA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Caltagirone Stock

0.82	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.78	ROM	Rohm Co	Pair Corr
0.71	MRG	Outcrop Silver Gold	Pair Corr
0.85	JYS1	JYSKE BANK	Pair Corr
0.84	BSN	Danone SA	Pair Corr
0.89	TLLB	Trelleborg AB	Pair Corr
0.9	3RE	Rejlerkoncernen AB	Pair Corr
0.69	HUKI	HUHTAMAKI	Pair Corr
0.82	TKA	thyssenkrupp AG	Pair Corr
0.87	5TP	BLUE LABEL	Pair Corr
0.87	E908	Lyxor 1	Pair Corr
0.95	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Caltagirone Stock

0.95	DBPD	Xtrackers ShortDAX	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.6	APC	Apple Inc	Pair Corr
0.6	APC	Apple Inc	Pair Corr
0.6	APC	Apple Inc	Pair Corr
0.6	APC	Apple Inc	Pair Corr
0.59	APC	Apple Inc	Pair Corr
0.38	T9V	TASTY PLC LS	Pair Corr

Related Correlations Analysis

	96W	UCE	TMD0	CH5	TG9	TM5	GRU	CI1A
96W		0.52	0.41	-0.01	0.57	-0.53	-0.58	-0.53	96W
UCE	0.52		0.7	-0.01	0.81	-0.45	-0.55	-0.82	UCE
TMD0	0.41	0.7		0.12	0.58	-0.46	-0.51	-0.75	TMD0
CH5	-0.01	-0.01	0.12		-0.02	0.42	0.38	0.16	CH5
TG9	0.57	0.81	0.58	-0.02		-0.51	-0.59	-0.76	TG9
TM5	-0.53	-0.45	-0.46	0.42	-0.51		0.9	0.74	TM5
GRU	-0.58	-0.55	-0.51	0.38	-0.59	0.9		0.8	GRU
CI1A	-0.53	-0.82	-0.75	0.16	-0.76	0.74	0.8		CI1A
	96W	UCE	TMD0	CH5	TG9	TM5	GRU	CI1A

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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

GRU	+ 0.9	TM5
TG9	+ 0.81	UCE
CI1A	+ 0.8	GRU
CI1A	+ 0.74	TM5
TMD0	+ 0.7	UCE
TG9	+ 0.58	TMD0

High negative correlations

CI1A	- 0.82	UCE
CI1A	- 0.76	TG9
CI1A	- 0.75	TMD0
GRU	- 0.59	TG9
GRU	- 0.58	96W
GRU	- 0.55	UCE

Risk-Adjusted Indicators

There is a big difference between Caltagirone Stock performing well and Caltagirone SpA 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 Caltagirone SpA'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
96W	2.70	0.26	0.07	0.46	3.07	(3.66)	5.19	(5.56)	26.22
UCE	2.72	(0.57)	0.00	(0.78)	0.00	0.00	3.91	(7.76)	22.17
TMD0	2.47	(0.10)	0.00	(0.52)	0.00	0.00	4.08	(5.26)	23.64
CH5	1.03	(0.08)	0.00	(0.68)	0.00	0.00	1.77	(2.46)	5.95
TG9	1.82	(0.10)	0.00	(17.80)	0.00	0.00	3.82	(5.23)	11.64
TM5	1.49	0.11	0.08	1.16	2.14	(1.56)	3.20	(4.20)	12.21
GRU	2.32	0.20	0.06	0.44	3.22	(2.51)	5.94	(5.19)	18.68
CI1A	1.42	0.24	0.15	(0.71)	1.71	(1.79)	3.00	(2.89)	13.49

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

MAVEN WIRELESS SWEDEN ULTRA CLEAN HLDGS CVW CLEANTECH INC Chesapeake Utilities Cleanaway Waste Management T Mobile GEELY AUTOMOBILE Cairo Communication SpA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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