Elementis Plc Correlations

EMNSF Stock

USD 2.34 0.00 0.00%

The current 90-days correlation between Elementis plc and Corbion NV is -0.01 (i.e., Good diversification). The correlation of Elementis 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.

Elementis Plc Correlation With Market

Very weak diversification

The correlation between Elementis plc and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elementis plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Elementis 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 Elementis 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 Elementis 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 Elementis plc to buy it.

Moving together with Elementis Pink Sheet

0.64	SHW	Sherwin Williams	Pair Corr
0.63	ECL	Ecolab Inc	Pair Corr
0.65	APD	Air Products	Pair Corr
0.67	PPG	PPG Industries	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.77	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.69	VZ	Verizon Communications Aggressive Push	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.66	DD	Dupont De Nemours	Pair Corr

Moving against Elementis Pink Sheet

0.33	NVNIW	Nvni Group Limited	Pair Corr
0.62	MSFT	Microsoft	Pair Corr
0.48	GGLDF	Getchell Gold Corp	Pair Corr

Related Correlations Analysis

	ALPKF	FPLSF	CSNVF	TKCBY	HUIHY	CUYRF	CSNVY	NPKYF	NPKYY	TKYMY
ALPKF		0.51	0.28	0.56	0.55	0.0	0.5	0.0	0.03	0.32	ALPKF
FPLSF	0.51		0.14	0.25	0.35	0.0	0.87	0.0	0.04	0.15	FPLSF
CSNVF	0.28	0.14		0.76	0.67	0.0	0.33	0.0	0.84	0.75	CSNVF
TKCBY	0.56	0.25	0.76		0.89	0.0	0.27	0.0	0.47	0.75	TKCBY
HUIHY	0.55	0.35	0.67	0.89		0.0	0.32	0.0	0.41	0.67	HUIHY
CUYRF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CUYRF
CSNVY	0.5	0.87	0.33	0.27	0.32	0.0		0.0	0.29	0.26	CSNVY
NPKYF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NPKYF
NPKYY	0.03	0.04	0.84	0.47	0.41	0.0	0.29	0.0		0.7	NPKYY
TKYMY	0.32	0.15	0.75	0.75	0.67	0.0	0.26	0.0	0.7		TKYMY
	ALPKF	FPLSF	CSNVF	TKCBY	HUIHY	CUYRF	CSNVY	NPKYF	NPKYY	TKYMY

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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

HUIHY	+ 0.89	TKCBY
CSNVY	+ 0.87	FPLSF
NPKYY	+ 0.84	CSNVF
TKCBY	+ 0.76	CSNVF
TKYMY	+ 0.75	CSNVF
TKYMY	+ 0.75	TKCBY

High negative correlations

TKYMY	- 0.0	NPKYF
NPKYY	- 0.0	NPKYF
NPKYF	- 0.0	CSNVY
TKYMY	- 0.0	CUYRF
NPKYY	- 0.0	CUYRF
NPKYF	- 0.0	CUYRF

Risk-Adjusted Indicators

There is a big difference between Elementis Pink Sheet performing well and Elementis 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 Elementis 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
ALPKF	0.81	0.14	0.00	(0.72)	0.00	0.00	1.79	0.00	20.91
FPLSF	2.89	0.45	0.17	0.36	2.47	(3.63)	5.73	(4.96)	24.51
CSNVF	0.47	0.16	0.00	(2.73)	0.00	0.00	0.00	0.00	16.59
TKCBY	0.27	0.14	0.00	(2.80)	0.00	0.00	0.00	0.00	8.93
HUIHY	2.13	1.02	0.00	2.20	0.00	0.00	0.00	0.00	71.23
CUYRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSNVY	0.91	0.36	0.00	(1.54)	0.00	0.00	2.74	0.00	17.37
NPKYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NPKYY	0.61	0.36	0.00	(0.52)	0.00	0.00	0.00	0.00	19.50
TKYMY	0.30	0.14	0.00	1.37	0.00	0.00	0.00	0.00	8.54

Be your own money manager

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

Chris Shepherd	Chief Human Resource Officer	Profile
Joseph Lupia	VP Technology	Profile
Anna Lawrence	Group Counsel	Profile
Mark Su	Managing Region	Profile

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