Copa Holdings Correlations
| CPA Stock | USD 94.37 1.62 1.75% |
The current 90-days correlation between Copa Holdings SA and SkyWest is 0.59 (i.e., Very weak diversification). The correlation of Copa Holdings 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.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Copa Holdings SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey. Moving together with Copa Stock
| 0.77 | LTM | LATAM Airlines Group | PairCorr |
| 0.7 | LUV | Southwest Airlines | PairCorr |
| 0.68 | AL | Air Lease Earnings Call Tomorrow | PairCorr |
| 0.64 | BZ | Kanzhun Ltd ADR | PairCorr |
| 0.7 | DE | Deere Company | PairCorr |
| 0.75 | EH | Ehang Holdings | PairCorr |
Moving against Copa Stock
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Copa Stock performing well and Copa Holdings 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 Copa Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SKYW | 2.28 | (0.35) | 0.00 | 1.25 | 0.00 | 4.09 | 19.93 | |||
| SNCY | 3.62 | (0.25) | 0.00 | (0.22) | 0.00 | 8.35 | 32.42 | |||
| ATSG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ULCC | 4.25 | (1.29) | 0.00 | 2.11 | 0.00 | 7.71 | 36.14 | |||
| LUV | 2.33 | (0.01) | 0.04 | (0.10) | 3.83 | 3.74 | 25.02 | |||
| JBLU | 4.01 | (0.30) | 0.00 | 0.34 | 0.00 | 7.00 | 33.15 | |||
| UAL | 3.33 | (0.16) | 0.00 | (0.18) | 0.00 | 5.87 | 37.55 | |||
| HA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DAL | 2.88 | (0.31) | 0.00 | (0.26) | 0.00 | 4.51 | 34.47 |