Companhia Paranaense Correlations

ELPC Stock

5.71 0.04 0.70%

The current 90-days correlation between Companhia Paranaense and Chipotle Mexican Grill is -0.14 (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.

Companhia Paranaense Correlation With Market

Significant diversification

The correlation between Companhia Paranaense de and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Companhia Paranaense de and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Companhia Paranaense de. 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 Companhia Stock

0.67	CIG	Companhia Energetica Earnings Call Today	Pair Corr
0.97	ELP	Companhia Paranaense	Pair Corr
0.74	RNWWW	ReNew Energy Global	Pair Corr
0.75	AQN	Algonquin Power Utilities	Pair Corr
0.69	AWK	American Water Works	Pair Corr

Moving against Companhia Stock

0.76	MNTK	Montauk Renewables	Pair Corr
0.75	NI	NiSource	Pair Corr
0.73	AY	Atlantica Sustainable	Pair Corr
0.71	ALE	Allete Inc	Pair Corr
0.67	SRE	Sempra Energy	Pair Corr
0.64	BIP	Brookfield Infrastructure	Pair Corr
0.62	VGAS	Verde Clean Fuels	Pair Corr
0.49	D	Dominion Energy	Pair Corr
0.38	BIP-PB	Brookfield Infrastructure	Pair Corr
0.33	BIP-PA	Brookfield Infrastructure	Pair Corr
0.33	SO	Southern	Pair Corr
0.82	CDZIP	Cadiz Depositary Shares	Pair Corr
0.72	AEE	Ameren Corp	Pair Corr
0.68	ATO	Atmos Energy	Pair Corr
0.64	CNP	CenterPoint Energy	Pair Corr
0.59	CEG	Constellation Energy Corp	Pair Corr
0.46	AWR	American States Water	Pair Corr
0.44	CMS-PB	Consumers Energy	Pair Corr
0.44	ELLO	Ellomay Capital	Pair Corr
0.43	EVRG	Evergy,	Pair Corr
0.42	CMS-PC	CMS Energy	Pair Corr
0.39	BEP	Brookfield Renewable	Pair Corr
0.32	AGR	Avangrid	Pair Corr

Related Correlations Analysis

	SNCY	TXRH	RICK	BTBD	CMG	SHAK	CAKE	DPZ
SNCY		0.78	0.49	0.45	0.51	0.81	0.85	0.29	SNCY
TXRH	0.78		0.39	0.42	0.63	0.88	0.93	0.46	TXRH
RICK	0.49	0.39		-0.09	0.11	0.59	0.46	0.5	RICK
BTBD	0.45	0.42	-0.09		0.7	0.18	0.43	-0.27	BTBD
CMG	0.51	0.63	0.11	0.7		0.43	0.52	0.1	CMG
SHAK	0.81	0.88	0.59	0.18	0.43		0.9	0.54	SHAK
CAKE	0.85	0.93	0.46	0.43	0.52	0.9		0.37	CAKE
DPZ	0.29	0.46	0.5	-0.27	0.1	0.54	0.37		DPZ
	SNCY	TXRH	RICK	BTBD	CMG	SHAK	CAKE	DPZ

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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

CAKE	+ 0.93	TXRH
CAKE	+ 0.9	SHAK
SHAK	+ 0.88	TXRH
CAKE	+ 0.85	SNCY
SHAK	+ 0.81	SNCY
TXRH	+ 0.78	SNCY

High negative correlations

DPZ	- 0.27	BTBD
BTBD	- 0.09	RICK

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
SNCY	2.68	0.57	0.23	0.54	2.29	(3.21)	8.41	(3.87)	15.46
TXRH	1.23	0.12	0.07	0.30	1.03	(1.37)	3.28	(1.75)	7.67
RICK	1.83	(0.09)	0.03	0.11	1.65	(2.23)	5.42	(3.56)	10.05
BTBD	3.46	0.27	0.05	0.57	3.45	(4.62)	9.33	(6.13)	21.24
CMG	1.46	0.01	(0.01)	0.17	2.44	(1.48)	2.91	(3.77)	12.36
SHAK	1.75	0.21	0.14	0.35	1.35	(2.30)	5.02	(2.89)	8.77
CAKE	1.90	0.25	0.16	0.34	1.64	(2.35)	5.20	(3.10)	13.07
DPZ	1.13	(0.16)	(0.12)	(0.01)	1.39	(1.20)	2.86	(2.57)	7.92

Companhia Paranaense Corporate Management

Adriano Moura	Investor Finance	Profile
Maximiliano Orfali	Chief SA	Profile
Eduardo Barbosa	Regulatory Legal	Profile
Fernando Gruppelli	Deputy Board	Profile
Diogo Cord	New Strategy	Profile

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