Environmental Correlations

EGL Stock

0.25 0.01 4.17%

The current 90-days correlation between Environmental Group and Avita Medical is -0.09 (i.e., Good diversification). The correlation of Environmental 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.

Environmental Correlation With Market

Very weak diversification

The correlation between Environmental Group and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Environmental Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Environmental Stock

0.65	FPC	Fat Prophets Global	Pair Corr
0.61	DTL	Data 3	Pair Corr
0.64	EIQ	Echoiq	Pair Corr
0.67	GPR	Geopacific Resources	Pair Corr
0.68	RAG	Ragnar Metals	Pair Corr
0.69	A4N	Alpha Hpa	Pair Corr
0.67	TG1	Techgen Metals	Pair Corr
0.63	BC8	Black Cat Syndicate	Pair Corr
0.63	AMI	Aurelia Metals	Pair Corr

Moving against Environmental Stock

0.52

PME

Pro Medicus

Pair Corr

Related Correlations Analysis

	AVH	HCW	SIG	POL	ONE	OCA	RHT
AVH		-0.21	0.53	0.16	-0.33	-0.64	0.01	AVH
HCW	-0.21		-0.59	0.01	0.43	0.39	-0.09	HCW
SIG	0.53	-0.59		-0.03	-0.64	-0.63	0.08	SIG
POL	0.16	0.01	-0.03		0.6	0.35	-0.4	POL
ONE	-0.33	0.43	-0.64	0.6		0.83	-0.58	ONE
OCA	-0.64	0.39	-0.63	0.35	0.83		-0.37	OCA
RHT	0.01	-0.09	0.08	-0.4	-0.58	-0.37		RHT
	AVH	HCW	SIG	POL	ONE	OCA	RHT

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

OCA	+ 0.83	ONE
ONE	+ 0.6	POL
SIG	+ 0.53	AVH
ONE	+ 0.43	HCW
OCA	+ 0.39	HCW
OCA	+ 0.35	POL

High negative correlations

ONE	- 0.64	SIG
OCA	- 0.64	AVH
OCA	- 0.63	SIG
SIG	- 0.59	HCW
RHT	- 0.58	ONE
RHT	- 0.4	POL

Risk-Adjusted Indicators

There is a big difference between Environmental Stock performing well and Environmental 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 Environmental'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
AVH	2.48	0.06	(0.01)	(0.05)	2.37	(4.35)	8.82	(4.35)	15.83
HCW	1.53	0.07	0.01	0.41	1.49	(2.75)	4.11	(2.86)	16.11
SIG	0.95	(0.01)	(0.04)	(0.04)	1.21	(1.12)	2.15	(1.92)	6.53
POL	3.94	0.51	0.07	(1.63)	5.42	(4.84)	9.66	(5.60)	26.40
ONE	3.07	0.93	0.22	(7.13)	2.16	(5.55)	9.09	(5.00)	23.84
OCA	1.16	0.13	0.02	(0.35)	1.69	(2.15)	2.63	(4.11)	14.39
RHT	2.59	(0.25)	0.00	0.49	0.00	0.00	6.52	(6.00)	18.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Environmental 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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Environmental Corporate Management

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

Andrew Bush	Joint Secretary	Profile
Paul Gasket	National Mang	Profile
Jason Dixon	Chief Officer	Profile
Brenda Borghouts	National Mang	Profile
GIA CPA	Joint Secretary	Profile
Paul Gaskett	National Manager	Profile
Gareth Nicholls	Chief Officer	Profile

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