Aferian PLC Correlations

Stocks . UK . 
Stock . Aferian PLC
AFRN Stock   0.38  0.05  11.63%   
The current 90-days correlation between Aferian PLC and Bioventix is 0.1 (i.e., Average diversification). The correlation of Aferian 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aferian PLC Correlation With Market

Excellent diversification

The correlation between Aferian PLC and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aferian PLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Aferian 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 Aferian 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 Aferian 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 Aferian PLC to buy it.

Moving against Aferian Stock

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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

AUTO
+ 0.96
RMV
AUTO
+ 0.87
MTC
MTC
+ 0.84
RMV
AUTO
+ 0.72
BVXP
0LOZ
+ 0.71
RMV
AJB
+ 0.68
BVXP
  

High negative correlations

AUTO
- 0.83
TRU
TRU
- 0.77
RMV
TRU
- 0.74
BVXP
MTC
- 0.72
TRU
AJB
- 0.67
TRU
TRU
- 0.59
0LOZ

Risk-Adjusted Indicators

There is a big difference between Aferian Stock performing well and Aferian 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 Aferian 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.

Be your own money manager

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

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Aferian PLC Corporate Executives

Elected by the shareholders, the Aferian PLC's board of directors comprises two types of representatives: Aferian PLC inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aferian. The board's role is to monitor Aferian PLC's management team and ensure that shareholders' interests are well served. Aferian 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, Aferian PLC's outside directors are responsible for providing unbiased perspectives on the board's policies.
Mark CarlisleCOO CFOProfile
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