Redde Northgate Correlations

Stocks . Germany . 
Stock . Redde Northgate PLC
21W Stock  EUR 4.38  0.06  1.35%   
The current 90-days correlation between Redde Northgate PLC and Aozora Bank is -0.08 (i.e., Good diversification). The correlation of Redde Northgate 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.

Redde Northgate Correlation With Market

Very poor diversification

The correlation between Redde Northgate PLC and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Redde Northgate PLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Redde Northgate could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Redde Northgate 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 Redde Northgate - 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 Redde Northgate PLC to buy it.

Moving together with Redde Stock

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  0.616HS Horseshoe MetalsPairCorr
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  0.74WAC Wacker Neuson SEPairCorr
  0.63HHX HAMMONIA SchiffsholdingPairCorr
  0.74NEF NESTE OILPairCorr
  0.75WWR Woolworths GroupPairCorr

Moving against Redde Stock

  0.51013A JD Inc AdrPairCorr
  0.5013C JD IncPairCorr
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  0.75BDD CONICO LTD SplitPairCorr
  0.73DBPD Xtrackers ShortDAXPairCorr
  0.42SOBA ATT IncPairCorr

Related Correlations Analysis


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
+ 0.93
RN7
AON
+ 0.85
RN7
LT7
+ 0.84
RN7
A4S
+ 0.8
AON
LT7
+ 0.79
A4S
A4S
+ 0.76
WIJ
  

High negative correlations

CWW
- 0.26
LT7
LT7
- 0.26
LFB
CWW
- 0.15
RN7
CWW
- 0.14
AON
CWW
- 0.09
WIJ
CWW
- 0.01
A4S

Risk-Adjusted Indicators

There is a big difference between Redde Stock performing well and Redde Northgate 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 Redde Northgate'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Redde Northgate 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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Redde Northgate Corporate Management

Elected by the shareholders, the Redde Northgate's board of directors comprises two types of representatives: Redde Northgate inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Redde. The board's role is to monitor Redde Northgate's management team and ensure that shareholders' interests are well served. Redde Northgate'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, Redde Northgate's outside directors are responsible for providing unbiased perspectives on the board's policies.
Claire MilesNon-Executive Independent DirectorProfile
James KertonCompany SecProfile
Avril PalmerBaunackNon-Executive Chairman of the BoardProfile
Russell SmithersManaging DirectorProfile
Jorge AlarconChief SpainProfile
Matthew LLBCompany CounselProfile
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