Bodycote PLC Correlations

21T Stock

EUR 7.95 0.05 0.62%

The current 90-days correlation between Bodycote PLC and CHIBA BANK is 0.03 (i.e., Significant diversification). The correlation of Bodycote PLC 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.

Bodycote PLC Correlation With Market

Very good diversification

The correlation between Bodycote PLC and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bodycote PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Bodycote Stock

0.66

YMI

Yellow Pages Limited

Pair Corr

Moving against Bodycote Stock

0.45	RAA	RATIONAL Aktiengesellscha	Pair Corr
0.43	HO1	Hologic	Pair Corr
0.35	DBPD	Xtrackers ShortDAX	Pair Corr
0.34	C2H	Copa Holdings SA	Pair Corr

Related Correlations Analysis

	CBR	71F	GG7	RN7	A4S	CBR	31WN
CBR		0.51	-0.39	0.7	0.61	0.93	-0.23	CBR
71F	0.51		-0.33	0.74	0.7	0.57	0.03	71F
GG7	-0.39	-0.33		-0.45	-0.4	-0.31	0.36	GG7
RN7	0.7	0.74	-0.45		0.96	0.69	-0.09	RN7
A4S	0.61	0.7	-0.4	0.96		0.59	-0.07	A4S
CBR	0.93	0.57	-0.31	0.69	0.59		-0.21	CBR
31WN	-0.23	0.03	0.36	-0.09	-0.07	-0.21		31WN
	CBR	71F	GG7	RN7	A4S	CBR	31WN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

A4S	+ 0.96	RN7
CBR	+ 0.93	CBR
RN7	+ 0.74	71F
RN7	+ 0.7	CBR
A4S	+ 0.7	71F
CBR	+ 0.69	RN7

High negative correlations

RN7	- 0.45	GG7
A4S	- 0.4	GG7
GG7	- 0.39	CBR
GG7	- 0.33	71F
CBR	- 0.31	GG7
31WN	- 0.23	CBR

Risk-Adjusted Indicators

There is a big difference between Bodycote Stock performing well and Bodycote PLC 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 Bodycote PLC'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
CBR	1.60	0.11	0.03	0.27	1.68	(1.94)	3.85	(3.31)	9.35
71F	1.83	0.16	0.03	0.59	2.48	(2.53)	4.50	(2.70)	19.55
GG7	1.59	0.00	(0.04)	0.11	2.03	(1.77)	3.17	(3.93)	11.91
RN7	1.39	0.28	0.12	2.12	1.13	(2.07)	3.35	(2.42)	13.07
A4S	1.07	0.26	0.25	0.25	0.80	(1.22)	2.33	(1.25)	16.93
CBR	1.59	0.09	0.03	0.22	1.71	(1.88)	3.85	(2.86)	9.35
31WN	2.18	0.06	0.00	0.24	2.96	(2.69)	4.76	(3.92)	24.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bodycote PLC 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.

Did you try this?

Run Portfolio Holdings Now

Portfolio Holdings

Check your current holdings and cash postion to detemine if your portfolio needs rebalancing

All Next

Launch Module

Bodycote PLC Corporate Management

Elected by the shareholders, the Bodycote PLC's board of directors comprises two types of representatives: Bodycote PLC inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bodycote. The board's role is to monitor Bodycote PLC's management team and ensure that shareholders' interests are well served. Bodycote PLC's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bodycote PLC's outside directors are responsible for providing unbiased perspectives on the board's policies.

Anne Quinn	Non-Executive Chairman of the Board	Profile
Kevin Boyd	Non-Executive Director	Profile
Eva Lindqvist	Independent Non-Executive Director	Profile
Michaela Yasin	Chief Officer	Profile
Ian Duncan	Senior Independent Non-Executive Director	Profile
Ute Ball	Group Company Secretary	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC