GREENX METALS Correlations

5PMA Stock

0.38 0.01 2.56%

The current 90-days correlation between GREENX METALS LTD and PERENNIAL ENERGY HD 01 is -0.1 (i.e., Good diversification). The correlation of GREENX METALS 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.

GREENX METALS Correlation With Market

Good diversification

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

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

Moving together with GREENX Stock

0.69	HY9H	SK hynix	Pair Corr
0.67	VAR1	Varta AG	Pair Corr

Moving against GREENX Stock

0.46	5UI	Universal Insurance	Pair Corr
0.37	0QE	CORONGLRES CDIS101	Pair Corr
0.33	SSU	Samsung Electronics	Pair Corr
0.32	SSUN	Samsung Electronics	Pair Corr
0.58	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	PEZ	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1	6HW
PEZ		-0.57	-0.41	-0.22	-0.4	-0.04	-0.12	0.44	0.51	-0.35	PEZ
8SP	-0.57		0.66	0.32	0.73	0.24	0.26	-0.75	-0.85	0.61	8SP
6NM	-0.41	0.66		0.45	0.22	0.22	0.23	-0.31	-0.43	0.16	6NM
39O1	-0.22	0.32	0.45		0.17	-0.22	0.46	-0.05	-0.26	-0.13	39O1
2DG	-0.4	0.73	0.22	0.17		0.11	0.18	-0.81	-0.88	0.8	2DG
TLX	-0.04	0.24	0.22	-0.22	0.11		-0.01	-0.09	-0.06	0.35	TLX
TM9	-0.12	0.26	0.23	0.46	0.18	-0.01		-0.05	-0.26	0.0	TM9
INVN	0.44	-0.75	-0.31	-0.05	-0.81	-0.09	-0.05		0.86	-0.77	INVN
IUI1	0.51	-0.85	-0.43	-0.26	-0.88	-0.06	-0.26	0.86		-0.67	IUI1
6HW	-0.35	0.61	0.16	-0.13	0.8	0.35	0.0	-0.77	-0.67		6HW
	PEZ	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1	6HW

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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

IUI1	+ 0.86	INVN
6HW	+ 0.8	2DG
2DG	+ 0.73	8SP
6NM	+ 0.66	8SP
6HW	+ 0.61	8SP
IUI1	+ 0.51	PEZ

High negative correlations

IUI1	- 0.88	2DG
IUI1	- 0.85	8SP
INVN	- 0.81	2DG
6HW	- 0.77	INVN
INVN	- 0.75	8SP
6HW	- 0.67	IUI1

Risk-Adjusted Indicators

There is a big difference between GREENX Stock performing well and GREENX METALS 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 GREENX METALS'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
PEZ	2.50	0.29	0.02	1.53	3.00	(8.57)	9.09	(8.33)	17.42
8SP	2.10	(0.08)	0.00	0.28	0.00	0.00	3.38	(4.74)	20.22
6NM	1.23	0.12	(0.02)	(0.27)	1.76	(1.32)	2.79	(2.69)	9.64
39O1	3.77	0.19	0.04	0.34	3.51	(5.27)	8.41	(5.38)	34.42
2DG	3.89	(1.59)	0.00	(2.90)	0.00	0.00	6.45	(8.57)	52.42
TLX	0.97	0.00	(0.06)	0.00	1.13	(1.12)	2.67	(1.64)	7.58
TM9	2.78	(0.03)	(0.02)	0.04	4.26	(3.08)	5.56	(6.43)	36.50
INVN	2.16	0.26	0.04	(1.02)	2.54	(2.55)	5.61	(4.98)	14.01
IUI1	1.27	0.25	0.13	0.88	1.09	(1.49)	3.28	(1.96)	10.01
6HW	0.42	(0.11)	0.00	1.46	0.00	0.00	1.21	(1.80)	5.39

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Our tools can tell you how much better you can do entering a position in GREENX METALS 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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