Cumulus Media Correlations

CMLS Stock

USD 0.11 0.01 13.87%

The current 90-days correlation between Cumulus Media Class and Cheer Holding is 0.23 (i.e., Modest diversification). The correlation of Cumulus Media 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.

Cumulus Media Correlation With Market

Significant diversification

The correlation between Cumulus Media Class and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cumulus Media Class and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cumulus OTC Stock

0.73	HD	Home Depot	Pair Corr
0.73	MSFT	Microsoft Sell-off Trend	Pair Corr
0.7	HPQ	HP Inc	Pair Corr

Moving against Cumulus OTC Stock

0.84	DD	Dupont De Nemours	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.7	XOM	Exxon Mobil Corp	Pair Corr
0.69	MRK	Merck Company Aggressive Push	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.59	TRV	The Travelers Companies	Pair Corr
0.59	AA	Alcoa Corp	Pair Corr
0.57	BAC	Bank of America	Pair Corr
0.55	IBM	International Business	Pair Corr
0.46	PFE	Pfizer Inc	Pair Corr
0.31	INTC	Intel	Pair Corr

Related Correlations Analysis

	ZNB	KUKE	CHR	STFS	ADV	BZFD	SWAG	CURI	ONFO
ZNB		0.61	0.42	0.69	0.79	0.8	-0.35	0.42	0.71	ZNB
KUKE	0.61		0.53	0.32	0.84	0.78	-0.36	0.29	0.64	KUKE
CHR	0.42	0.53		0.29	0.58	0.52	-0.34	0.58	0.41	CHR
STFS	0.69	0.32	0.29		0.56	0.59	-0.22	0.3	0.65	STFS
ADV	0.79	0.84	0.58	0.56		0.89	-0.27	0.37	0.85	ADV
BZFD	0.8	0.78	0.52	0.59	0.89		-0.52	0.38	0.82	BZFD
SWAG	-0.35	-0.36	-0.34	-0.22	-0.27	-0.52		-0.55	-0.07	SWAG
CURI	0.42	0.29	0.58	0.3	0.37	0.38	-0.55		0.18	CURI
ONFO	0.71	0.64	0.41	0.65	0.85	0.82	-0.07	0.18		ONFO
	ZNB	KUKE	CHR	STFS	ADV	BZFD	SWAG	CURI	ONFO

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

BZFD	+ 0.89	ADV
ONFO	+ 0.85	ADV
ADV	+ 0.84	KUKE
ONFO	+ 0.82	BZFD
BZFD	+ 0.8	ZNB
ADV	+ 0.79	ZNB

High negative correlations

CURI	- 0.55	SWAG
SWAG	- 0.52	BZFD
SWAG	- 0.36	KUKE
SWAG	- 0.35	ZNB
SWAG	- 0.34	CHR
SWAG	- 0.27	ADV

Risk-Adjusted Indicators

There is a big difference between Cumulus OTC Stock performing well and Cumulus Media OTC Stock 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 Cumulus Media'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
ZNB	6.48	(0.54)	0.00	(0.23)	0.00	0.00	8.06	(10.11)	148.94
KUKE	24.60	4.60	0.12	(0.62)	24.62	(42.41)	52.17	(59.52)	382.50
CHR	8.50	(2.83)	0.00	1.54	0.00	0.00	12.50	(15.81)	81.86
STFS	6.00	(0.28)	0.00	(0.38)	0.00	0.00	14.29	(11.11)	59.82
ADV	3.08	(1.37)	0.00	(0.47)	0.00	0.00	5.51	(7.47)	22.81
BZFD	3.25	(0.97)	0.00	(0.32)	0.00	0.00	4.26	(5.94)	39.16
SWAG	4.08	(0.05)	0.02	0.05	6.03	(4.44)	8.70	(12.12)	63.62
CURI	3.17	(0.14)	0.00	(0.28)	0.00	0.00	6.14	(6.23)	33.31
ONFO	4.53	(0.91)	0.00	(0.22)	0.00	0.00	11.69	(10.53)	43.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cumulus Media 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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