Alumina Limited Correlations
| AWCMYDelisted Stock | USD 3.69 0.00 0.00% |
The current 90-days correlation between Alumina Limited PK and Alumina Limited is 0.05 (i.e., Significant diversification). The correlation of Alumina Limited 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.
Alumina Limited Correlation With Market
Good diversification
The correlation between Alumina Limited PK and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alumina Limited PK and DJI in the same portfolio, assuming nothing else is changed.
Alumina |
The ability to find closely correlated positions to Alumina Limited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alumina Limited 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 Alumina Limited - 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 Alumina Limited PK to buy it.
Moving together with Alumina Pink Sheet
| 0.73 | PFE | Pfizer Inc Aggressive Push | PairCorr |
Moving against Alumina Pink Sheet
| 0.82 | SMFG | Sumitomo Mitsui Financial | PairCorr |
| 0.77 | JPHLF | Japan Post Holdings | PairCorr |
| 0.75 | MFG | Mizuho Financial | PairCorr |
| 0.74 | MUFG | Mitsubishi UFJ Financial | PairCorr |
| 0.72 | MZHOF | Mizuho Financial Normal Trading | PairCorr |
| 0.62 | SMFNF | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.58 | MBFJF | Mitsubishi UFJ Financial | PairCorr |
| 0.34 | KB | KB Financial Group | PairCorr |
| 0.63 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.56 | DIS | Walt Disney | PairCorr |
| 0.34 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.32 | WMT | Walmart Aggressive Push | PairCorr |
| 0.31 | HPQ | HP Inc | PairCorr |
Related Correlations Analysis
| 0.25 | 0.01 | 0.32 | 0.58 | AHCHY | ||
| 0.25 | 0.06 | -0.19 | -0.36 | NHYDY | ||
| 0.01 | 0.06 | 0.06 | -0.06 | AHKSY | ||
| 0.32 | -0.19 | 0.06 | 0.4 | AWCMF | ||
| 0.58 | -0.36 | -0.06 | 0.4 | COVTY | ||
| 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 Alumina Pink Sheet performing well and Alumina Limited 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 Alumina Limited'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AHCHY | 2.55 | 0.33 | 0.07 | 1.67 | 3.08 | 5.94 | 22.18 | |||
| NHYDY | 2.00 | 0.25 | 0.10 | 0.48 | 1.89 | 4.25 | 13.18 | |||
| AHKSY | 1.08 | (0.01) | (0.08) | 0.09 | 1.22 | 2.67 | 9.13 | |||
| AWCMF | 0.93 | 0.09 | 0.00 | 0.30 | 0.00 | 2.50 | 24.96 | |||
| COVTY | 0.66 | 0.01 | (0.16) | 0.04 | 0.77 | 1.28 | 7.41 |
Alumina Limited Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Alumina Limited pink sheet to make a market-neutral strategy. Peer analysis of Alumina Limited could also be used in its relative valuation, which is a method of valuing Alumina Limited by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Alumina Limited Corporate Management
| BA BA | Group Devel | Profile | |
| FCCA CA | Chief Officer | Profile | |
| Colin Hendry | Assistant Sec | Profile | |
| ACIS BCom | G Sec | Profile | |
| Charles Smitheram | Manager of Treasury and Investor Relations | Profile | |
| LLB LLB | CEO MD | Profile |
Still Interested in Alumina Limited PK?
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.