Castings PLC Correlations

CGS Stock

272.50 3.50 1.27%

The current 90-days correlation between Castings PLC and Atalaya Mining is 0.2 (i.e., Modest diversification). The correlation of Castings 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.

Castings PLC Correlation With Market

Good diversification

The correlation between Castings PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Castings PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Castings 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 Castings 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 Castings 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 Castings PLC to buy it.

Moving together with Castings Stock

0.74	ATYM	Atalaya Mining	Pair Corr
0.79	FXPO	Ferrexpo PLC	Pair Corr
0.81	0QKU	Royal Bank	Pair Corr
0.78	0QZ2	Silvercorp Metals	Pair Corr
0.84	0R07	Pan American Silver	Pair Corr
0.63	LLPC	Lloyds Banking Group	Pair Corr
0.62	0M1K	Travel Leisure	Pair Corr
0.8	FEML	Fidelity Emerging Markets	Pair Corr
0.67	STX	Shield Therapeutics plc	Pair Corr
0.76	PSN	Persimmon PLC	Pair Corr
0.69	IIG	Intuitive Investments	Pair Corr
0.64	TRT	Transense Technologies	Pair Corr
0.65	0GUX	Skandinaviska Enskilda	Pair Corr

Moving against Castings Stock

0.6	0QPS	Givaudan SA	Pair Corr
0.47	0K7V	News Corp Cl	Pair Corr
0.43	SRE	Sirius Real Estate	Pair Corr

Related Correlations Analysis

	ANTO	0QPS	0QJS	ATYM	EVR	THX	AMRQ	FXPO	MTL
ANTO		-0.7	0.32	0.74	0.0	0.79	0.84	0.67	0.74	ANTO
0QPS	-0.7		-0.07	-0.71	0.0	-0.59	-0.54	-0.59	-0.47	0QPS
0QJS	0.32	-0.07		0.18	0.0	0.41	0.29	0.58	0.36	0QJS
ATYM	0.74	-0.71	0.18		0.0	0.64	0.64	0.67	0.72	ATYM
EVR	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	EVR
THX	0.79	-0.59	0.41	0.64	0.0		0.79	0.75	0.73	THX
AMRQ	0.84	-0.54	0.29	0.64	0.0	0.79		0.58	0.6	AMRQ
FXPO	0.67	-0.59	0.58	0.67	0.0	0.75	0.58		0.62	FXPO
MTL	0.74	-0.47	0.36	0.72	0.0	0.73	0.6	0.62		MTL
	ANTO	0QPS	0QJS	ATYM	EVR	THX	AMRQ	FXPO	MTL

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

AMRQ	+ 0.84	ANTO
THX	+ 0.79	ANTO
AMRQ	+ 0.79	THX
FXPO	+ 0.75	THX
ATYM	+ 0.74	ANTO
MTL	+ 0.74	ANTO

High negative correlations

ATYM	- 0.71	0QPS
0QPS	- 0.7	ANTO
FXPO	- 0.59	0QPS
THX	- 0.59	0QPS
AMRQ	- 0.54	0QPS
MTL	- 0.47	0QPS

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANTO	1.66	0.35	0.15	0.67	1.68	(1.82)	3.68	(2.99)	10.61
0QPS	0.96	(0.19)	0.00	(0.36)	0.00	0.00	1.47	(2.10)	9.12
0QJS	1.32	0.01	(0.03)	0.13	1.51	(1.49)	2.93	(2.22)	7.13
ATYM	1.96	0.45	0.19	0.65	1.98	(2.32)	4.95	(3.24)	12.14
EVR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
THX	2.39	0.10	0.00	(12.12)	3.03	(2.67)	4.90	(4.80)	12.66
AMRQ	2.03	0.26	0.06	6.27	2.11	(2.52)	4.17	(4.47)	16.00
FXPO	3.29	0.43	0.11	0.57	3.27	(3.82)	8.05	(5.89)	34.42
MTL	2.71	0.27	0.03	(0.48)	3.12	(3.31)	6.15	(6.09)	17.89

Be your own money manager

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