BAYAN RESOURCES Correlations

BNB Stock

EUR 0.83 0.01 1.19%

The current 90-days correlation between BAYAN RESOURCES and ScanSource is 0.14 (i.e., Average diversification). The correlation of BAYAN RESOURCES 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.

BAYAN RESOURCES Correlation With Market

Pay attention - limited upside

The correlation between BAYAN RESOURCES and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BAYAN RESOURCES and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BAYAN Stock

0.62	ABL	Abbott Laboratories	Pair Corr
0.76	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against BAYAN Stock

0.97	FPMB	FREEPORT MCMORAN	Pair Corr
0.91	XMF	STOMO MITSUI FINL	Pair Corr
0.89	GZF	Engie SA	Pair Corr
0.86	SCL	Schlumberger Limited	Pair Corr
0.86	FJZ	ZIJIN MINING H	Pair Corr
0.82	FUC	Fanuc	Pair Corr
0.73	RWL	ROCKWELL AUTOMATION Earnings Call This Week	Pair Corr
0.93	NAQ	Nasdaq Inc	Pair Corr
0.92	NOH1	Norsk Hydro ASA	Pair Corr
0.9	XCA	CREDIT AGRICOLE Earnings Call Tomorrow	Pair Corr
0.84	85S	Science Applications	Pair Corr
0.81	LTT	Lattice Semiconductor Earnings Call This Week	Pair Corr
0.78	XTP	Sino AG	Pair Corr
0.77	HMT	Host Hotels Resorts	Pair Corr
0.77	MSI	Mitsui Chemicals Earnings Call This Week	Pair Corr
0.75	6HW	BANK HANDLOWY	Pair Corr
0.74	DBPE	Xtrackers LevDAX	Pair Corr
0.67	IC1H	InterContinental Hotels	Pair Corr
0.62	VHY	Vishay Intertechnology Earnings Call Tomorrow	Pair Corr
0.6	E908	Lyxor 1	Pair Corr
0.58	GHK	GREAT EAGLE	Pair Corr
0.55	9DB	Dave Busters Enterta	Pair Corr
0.48	G3V	Green Plains Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TF7A	CAO	UN3	ZVF	SC3	8SF	8SF	DHR
TF7A		0.0	-0.53	0.48	-0.27	0.84	0.84	0.32	TF7A
CAO	0.0		0.23	0.07	0.06	-0.1	-0.02	0.02	CAO
UN3	-0.53	0.23		-0.31	0.45	-0.44	-0.42	-0.2	UN3
ZVF	0.48	0.07	-0.31		0.05	0.57	0.55	-0.03	ZVF
SC3	-0.27	0.06	0.45	0.05		-0.25	-0.28	-0.05	SC3
8SF	0.84	-0.1	-0.44	0.57	-0.25		0.91	0.12	8SF
8SF	0.84	-0.02	-0.42	0.55	-0.28	0.91		0.01	8SF
DHR	0.32	0.02	-0.2	-0.03	-0.05	0.12	0.01		DHR
	TF7A	CAO	UN3	ZVF	SC3	8SF	8SF	DHR

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

8SF	+ 0.91	8SF
8SF	+ 0.84	TF7A
8SF	+ 0.84	TF7A
8SF	+ 0.57	ZVF
8SF	+ 0.55	ZVF
ZVF	+ 0.48	TF7A

High negative correlations

UN3	- 0.53	TF7A
8SF	- 0.44	UN3
8SF	- 0.42	UN3
ZVF	- 0.31	UN3
8SF	- 0.28	SC3
SC3	- 0.27	TF7A

Risk-Adjusted Indicators

There is a big difference between BAYAN Stock performing well and BAYAN RESOURCES 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 BAYAN RESOURCES'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
TF7A	1.24	0.31	0.22	10.38	0.95	(1.62)	3.37	(1.91)	8.31
CAO	0.81	(0.02)	0.00	0.52	0.00	0.00	2.14	(1.98)	6.39
UN3	2.19	(0.12)	0.00	(2.00)	0.00	0.00	4.58	(6.98)	14.77
ZVF	1.18	(0.01)	(0.01)	0.03	1.67	(4.37)	4.35	(4.17)	8.71
SC3	1.63	(0.08)	0.00	(0.25)	0.00	0.00	3.03	(4.52)	10.18
8SF	0.94	0.14	0.10	0.30	0.97	(1.06)	2.59	(1.80)	6.26
8SF	1.14	0.28	0.18	1.49	0.90	(1.37)	3.41	(1.76)	7.21
DHR	2.19	0.01	(0.01)	0.08	2.57	(2.60)	3.54	(4.24)	29.35

Be your own money manager

Our tools can tell you how much better you can do entering a position in BAYAN RESOURCES 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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