African Rainbow Correlations
| AFBOFDelisted Stock | USD 12.20 0.00 0.00% |
The current 90-days correlation between African Rainbow Minerals and Iluka Resources Ltd is 0.02 (i.e., Significant diversification). The correlation of African Rainbow 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.
African Rainbow Correlation With Market
Good diversification
The correlation between African Rainbow Minerals and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding African Rainbow Minerals and DJI in the same portfolio, assuming nothing else is changed.
African |
The ability to find closely correlated positions to African Rainbow could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace African Rainbow 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 African Rainbow - 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 African Rainbow Minerals to buy it.
Moving against African Pink Sheet
| 0.75 | BHP | BHP Group Limited | PairCorr |
| 0.74 | RIO | Rio Tinto ADR | PairCorr |
| 0.72 | GLCNF | Glencore PLC | PairCorr |
| 0.72 | GLNCY | Glencore PLC ADR | PairCorr |
| 0.7 | RTPPF | Rio Tinto Group | PairCorr |
| 0.61 | BHPLF | BHP Group Limited | PairCorr |
| 0.59 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.57 | RTNTF | Rio Tinto Group | PairCorr |
| 0.39 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.35 | AAUKF | Anglo American plc | PairCorr |
| 0.32 | KO | Coca Cola Aggressive Push | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between African Pink Sheet performing well and African Rainbow 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 African Rainbow'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IVPAF | 2.27 | (0.07) | (0.02) | 0.06 | 3.22 | 5.54 | 15.69 | |||
| GLCNF | 1.50 | (0.19) | 0.00 | (0.21) | 0.00 | 3.61 | 10.53 | |||
| AABB | 3.77 | (0.92) | 0.00 | 3.03 | 0.00 | 10.95 | 29.08 | |||
| RTNTF | 1.56 | 0.03 | (0.02) | 0.41 | 2.22 | 5.18 | 14.83 | |||
| SLVDF | 4.51 | 0.64 | 0.04 | (0.17) | 4.63 | 10.34 | 27.27 | |||
| BHPLF | 3.93 | 0.09 | 0.01 | 0.25 | 4.69 | 8.41 | 23.92 | |||
| DBLVF | 3.72 | (0.22) | 0.00 | (0.81) | 0.00 | 11.11 | 28.29 | |||
| SMMYY | 1.75 | (0.26) | 0.00 | (0.27) | 0.00 | 3.42 | 13.50 | |||
| ILKAY | 1.23 | (0.18) | 0.00 | 1.34 | 0.00 | 2.02 | 24.85 | |||
| ERMAY | 2.36 | (0.58) | 0.00 | (7.49) | 0.00 | 5.52 | 23.79 |
View African Rainbow Related Equities
| Risk & Return | Correlation |
African Rainbow Corporate Management
| LLB BA | Ex Chairman | Profile | |
| H Mkatshana | Ex Director | Profile | |
| Mitesh Takoordeen | Chief Officer | Profile | |
| Michael Eng | CEO Director | Profile | |
| Andr Joubert | Chief Ferrous | Profile | |
| Jongisa Magagula | Corporate Development and Head of Investor Relations | Profile | |
| Lucas Moalusi | Group Legal | Profile |
Still Interested in African Rainbow Minerals?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.