FirstGroup Plc Correlations

FGROF Stock

USD 2.50 0.00 0.00%

The current 90-days correlation between FirstGroup plc and Jungfraubahn Holding AG is 0.01 (i.e., Significant diversification). The correlation of FirstGroup 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.

FirstGroup Plc Correlation With Market

Very good diversification

The correlation between FirstGroup plc and DJI is -0.37 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FirstGroup plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against FirstGroup Pink Sheet

0.46	CJPRF	Central Japan Railway	Pair Corr
0.44	FMCB	Farmers Merchants Bancorp	Pair Corr
0.42	CNI	Canadian National Railway	Pair Corr
0.41	UNP	Union Pacific	Pair Corr
0.38	HUN	Huntsman Earnings Call Tomorrow	Pair Corr
0.37	CSX	CSX Corporation	Pair Corr
0.34	NSC	Norfolk Southern	Pair Corr
0.32	CP	Canadian Pacific Railway	Pair Corr
0.32	MTRJF	MTR Corp	Pair Corr
0.74	LAD	Lithia Motors Earnings Call This Week	Pair Corr
0.55	OZK	Bank Ozk	Pair Corr
0.45	MTW	Manitowoc	Pair Corr
0.34	MITEY	Mitsubishi Estate	Pair Corr
0.32	SVM	Silvercorp Metals	Pair Corr
0.53	EL	Estee Lauder Companies	Pair Corr
0.49	LULU	Lululemon Athletica	Pair Corr
0.49	BMYMP	Bristol Myers Squibb	Pair Corr
0.35	BLK	BlackRock	Pair Corr
0.32	HIRU	Hiru	Pair Corr

Related Correlations Analysis

	BTGRF	JFBHF	KLRGF	BRRAF	KRRYF	PCFBF	LONKF	WZZZY	PTJSF	TCLCF
BTGRF		-0.7	0.47	0.0	-0.78	0.93	-0.42	-0.84	-0.59	-0.22	BTGRF
JFBHF	-0.7		-0.24	0.0	0.53	-0.72	0.29	0.65	0.41	-0.25	JFBHF
KLRGF	0.47	-0.24		0.0	-0.48	0.52	-0.28	-0.43	-0.39	-0.38	KLRGF
BRRAF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BRRAF
KRRYF	-0.78	0.53	-0.48	0.0		-0.72	0.54	0.77	0.65	0.38	KRRYF
PCFBF	0.93	-0.72	0.52	0.0	-0.72		-0.39	-0.86	-0.55	-0.16	PCFBF
LONKF	-0.42	0.29	-0.28	0.0	0.54	-0.39		0.74	0.71	0.37	LONKF
WZZZY	-0.84	0.65	-0.43	0.0	0.77	-0.86	0.74		0.72	0.28	WZZZY
PTJSF	-0.59	0.41	-0.39	0.0	0.65	-0.55	0.71	0.72		0.52	PTJSF
TCLCF	-0.22	-0.25	-0.38	0.0	0.38	-0.16	0.37	0.28	0.52		TCLCF
	BTGRF	JFBHF	KLRGF	BRRAF	KRRYF	PCFBF	LONKF	WZZZY	PTJSF	TCLCF

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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

PCFBF	+ 0.93	BTGRF
WZZZY	+ 0.77	KRRYF
WZZZY	+ 0.74	LONKF
PTJSF	+ 0.72	WZZZY
PTJSF	+ 0.71	LONKF
WZZZY	+ 0.65	JFBHF

High negative correlations

WZZZY	- 0.86	PCFBF
WZZZY	- 0.84	BTGRF
KRRYF	- 0.78	BTGRF
PCFBF	- 0.72	KRRYF
PCFBF	- 0.72	JFBHF
JFBHF	- 0.7	BTGRF

Risk-Adjusted Indicators

There is a big difference between FirstGroup Pink Sheet performing well and FirstGroup 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 FirstGroup 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BTGRF	0.35	(0.20)	(1.24)	0.00	0.00	11.79
JFBHF	0.26	0.11	0.75	0.00	0.00	8.64
KLRGF	0.57	0.08	(0.24)	0.86	(2.02)	14.15
BRRAF	0.00	0.00	0.00	0.00	0.00	0.00
KRRYF	2.54	0.63	1.77	11.34	(10.00)	60.19
PCFBF	0.68	(0.26)	13.56	0.00	0.00	28.92
LONKF	0.27	0.14	(0.66)	0.00	0.00	9.09
WZZZY	1.27	0.62	1.54	6.21	0.00	16.62
PTJSF	0.50	0.26	(0.71)	0.00	0.00	16.67
TCLCF	0.11	(0.01)	(0.13)	0.00	0.00	3.48

Be your own money manager

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

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