Quanta Current Deferred Revenue vs Intangible Assets Analysis

Pair Trading with Quanta Services

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Quanta Services position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Quanta Services will appreciate offsetting losses from the drop in the long position's value.

Moving together with Quanta Stock

0.7	J	Jacobs Solutions	Pair Corr
0.85	DY	Dycom Industries	Pair Corr
0.92	MTRX	Matrix Service	Pair Corr
0.97	MYRG	MYR Group	Pair Corr

Moving against Quanta Stock

0.81	EXPO	Exponent	Pair Corr
0.74	WLGS	Wang Lee Group,	Pair Corr
0.69	MSW	Ming Shing Group	Pair Corr
0.45	VATE	Innovate Corp	Pair Corr
0.44	OFAL	OFAL	Pair Corr

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

The correlation of Quanta Services 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Quanta Services moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Quanta Services moves in either direction, the perfectly negati