Antofagasta PLC Correlations

ANTO Stock   1,764  26.00  1.50%   
The correlation of Antofagasta 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.

Antofagasta PLC Correlation With Market

Average diversification

The correlation between Antofagasta PLC and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Antofagasta PLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Antofagasta 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 Antofagasta 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 Antofagasta 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 Antofagasta PLC to buy it.

Moving together with Antofagasta Stock

  0.72CAML Central Asia MetalsPairCorr
  0.640KDU OverstockPairCorr

Moving against Antofagasta Stock

  0.57FXPO Ferrexpo PLCPairCorr
  0.47SGE Sage Group PLCPairCorr
  0.37TFIF TwentyFour IncomePairCorr
  0.35AMRQ Amaroq MineralsPairCorr
  0.64SOM Somero EnterprisePairCorr
  0.61APTA Aptamer Group PLCPairCorr
  0.59TRX Tissue Regenix GroupPairCorr
  0.51ARC Arcontech Group PlcPairCorr
  0.51TM1 Technology Minerals PLCPairCorr
  0.48ENOG Energean Oil GasPairCorr
  0.48HSBK Halyk BankPairCorr
  0.46IMB Imperial Brands PLCPairCorr
  0.46DEC Diversified EnergyPairCorr
  0.44CNE Capricorn Energy PLCPairCorr
  0.36CPG Compass Group PLCPairCorr
  0.33QBT Quantum BlockchainPairCorr
  0.33CLDN Caledonia InvestmentsPairCorr
  0.31ZIOC Zanaga Iron OrePairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Antofagasta Stock performing well and Antofagasta 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 Antofagasta 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 Antofagasta 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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Antofagasta PLC Corporate Management

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