Copper 360 Correlations

CPR Stock

79.00 1.00 1.28%

The current 90-days correlation between Copper 360 and Firstrand is 0.04 (i.e., Significant diversification). The correlation of Copper 360 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.

Copper 360 Correlation With Market

Poor diversification

The correlation between Copper 360 and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Copper 360 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Copper 360 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Copper 360 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 Copper 360 - 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 Copper 360 to buy it.

Moving together with Copper Stock

0.85	GLN	Glencore PLC	Pair Corr
0.84	AGL	Anglo American PLC	Pair Corr
0.77	FSR	Firstrand Earnings Call This Week	Pair Corr
0.8	ABG	Absa Group	Pair Corr
0.76	SSW	Sibanye Stillwater	Pair Corr
0.79	IMP	Impala Platinum Holdings Earnings Call This Week	Pair Corr
0.78	PPC	PPC	Pair Corr
0.77	HCI	Hosken Consolidated	Pair Corr
0.79	KIO	Kumba Iron Ore	Pair Corr
0.75	ARA	Astoria Investments	Pair Corr
0.67	MDI	Master Drilling Group	Pair Corr
0.63	BRT	Brimstone Investment Earnings Call Tomorrow	Pair Corr
0.8	NPH	Northam Platinum Holdings	Pair Corr
0.75	BHG	BHP Group Limited	Pair Corr
0.64	ANG	AngloGold Ashanti	Pair Corr
0.9	NY1	Ninety One	Pair Corr
0.71	EMN	eMedia Holdings	Pair Corr
0.81	RBX	Raubex	Pair Corr

Moving against Copper Stock

0.8	CFR	Compagnie Financire	Pair Corr
0.69	PRX	Prosus NV	Pair Corr
0.58	NPN	Naspers Limited	Pair Corr
0.52	SZK	Sab Zenzele Kabili	Pair Corr
0.44	TBS	Tiger Brands	Pair Corr

Related Correlations Analysis

	PRX	CFR	BTI	GLN	AGL	NPN	SZK	FSR
PRX		0.71	-0.45	-0.79	-0.9	0.97	0.34	-0.85	PRX
CFR	0.71		-0.27	-0.82	-0.77	0.66	0.31	-0.64	CFR
BTI	-0.45	-0.27		0.17	0.27	-0.57	0.19	0.11	BTI
GLN	-0.79	-0.82	0.17		0.95	-0.69	-0.47	0.86	GLN
AGL	-0.9	-0.77	0.27	0.95		-0.82	-0.42	0.89	AGL
NPN	0.97	0.66	-0.57	-0.69	-0.82		0.23	-0.73	NPN
SZK	0.34	0.31	0.19	-0.47	-0.42	0.23		-0.57	SZK
FSR	-0.85	-0.64	0.11	0.86	0.89	-0.73	-0.57		FSR
	PRX	CFR	BTI	GLN	AGL	NPN	SZK	FSR

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

NPN	+ 0.97	PRX
AGL	+ 0.95	GLN
FSR	+ 0.89	AGL
FSR	+ 0.86	GLN
CFR	+ 0.71	PRX
NPN	+ 0.66	CFR

High negative correlations

AGL	- 0.9	PRX
FSR	- 0.85	PRX
NPN	- 0.82	AGL
GLN	- 0.82	CFR
GLN	- 0.79	PRX
AGL	- 0.77	CFR

Risk-Adjusted Indicators

There is a big difference between Copper Stock performing well and Copper 360 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 Copper 360'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
PRX	1.14	(0.47)	0.00	(1.83)	0.00	0.00	2.44	(2.30)	7.56
CFR	1.30	(0.15)	0.00	(0.49)	0.00	0.00	2.59	(3.16)	7.67
BTI	1.05	0.09	0.01	(3.13)	1.52	(1.03)	1.88	(2.78)	6.08
GLN	1.66	0.63	0.28	(2.64)	1.35	(1.99)	3.71	(2.59)	15.83
AGL	1.63	0.42	0.16	(3.28)	1.68	(1.78)	3.55	(3.06)	10.66
NPN	1.42	(0.42)	0.00	(1.53)	0.00	0.00	2.47	(3.16)	7.70
SZK	0.41	(0.11)	0.00	(0.22)	0.00	0.00	0.06	(0.15)	16.90
FSR	0.93	0.27	0.24	1.38	0.56	(1.18)	2.27	(1.46)	4.35

Copper 360 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 Copper 360 stock to make a market-neutral strategy. Peer analysis of Copper 360 could also be used in its relative valuation, which is a method of valuing Copper 360 by comparing valuation metrics with similar companies.

Prosus NV Compagnie Financire Richemont British American Tobacco Glencore PLC Anglo American PLC Naspers Limited Sab Zenzele Kabili Firstrand American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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