Future Metals Correlations

FME Stock

0.95 0.07 6.86%

The correlation of Future Metals 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.

Future Metals Correlation With Market

Significant diversification

The correlation between Future Metals NL and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Future Metals NL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Future Stock

0.69	AAZ	Anglo Asian Mining	Pair Corr
0.74	MTL	Metals Exploration Plc	Pair Corr

Moving against Future Stock

0.56

0QPS

Givaudan SA

Pair Corr

Related Correlations Analysis

	0QPS	ANTO	CEY	ATYM	FXPO	AMRQ	CAML	AAZ	MTL
0QPS		0.61	0.04	0.55	-0.93	-0.6	0.74	-0.37	-0.5	0QPS
ANTO	0.61		0.2	0.92	-0.51	-0.05	0.94	0.05	-0.2	ANTO
CEY	0.04	0.2		0.0	0.1	0.47	0.2	0.68	0.38	CEY
ATYM	0.55	0.92	0.0		-0.5	-0.14	0.9	-0.08	-0.19	ATYM
FXPO	-0.93	-0.51	0.1	-0.5		0.69	-0.67	0.41	0.5	FXPO
AMRQ	-0.6	-0.05	0.47	-0.14	0.69		-0.2	0.81	0.56	AMRQ
CAML	0.74	0.94	0.2	0.9	-0.67	-0.2		-0.01	-0.23	CAML
AAZ	-0.37	0.05	0.68	-0.08	0.41	0.81	-0.01		0.54	AAZ
MTL	-0.5	-0.2	0.38	-0.19	0.5	0.56	-0.23	0.54		MTL
	0QPS	ANTO	CEY	ATYM	FXPO	AMRQ	CAML	AAZ	MTL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CAML	+ 0.94	ANTO
ATYM	+ 0.92	ANTO
CAML	+ 0.9	ATYM
AAZ	+ 0.81	AMRQ
CAML	+ 0.74	0QPS
AMRQ	+ 0.69	FXPO

High negative correlations

FXPO	- 0.93	0QPS
CAML	- 0.67	FXPO
AMRQ	- 0.6	0QPS
FXPO	- 0.51	ANTO
FXPO	- 0.5	ATYM
MTL	- 0.5	0QPS

Risk-Adjusted Indicators

There is a big difference between Future Stock performing well and Future Metals 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 Future Metals' 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
0QPS	0.88	(0.08)	0.00	0.75	0.00	0.00	1.50	(2.34)	6.14
ANTO	1.85	(0.19)	0.00	(0.23)	0.00	0.00	4.53	(4.64)	12.91
CEY	1.95	0.28	0.08	25.03	1.78	(2.42)	3.33	(2.92)	28.88
ATYM	1.85	(0.15)	0.00	(0.44)	0.00	0.00	3.97	(5.03)	11.16
FXPO	4.33	0.43	0.17	0.22	4.43	(5.00)	10.72	(7.25)	41.73
AMRQ	2.05	0.75	0.34	2.04	1.06	(3.06)	4.35	(2.71)	10.60
CAML	1.26	(0.25)	0.00	(0.36)	0.00	0.00	2.42	(3.29)	9.45
AAZ	2.24	0.23	0.02	(0.76)	2.47	(3.16)	5.31	(4.72)	16.37
MTL	2.44	0.21	0.03	(8.49)	2.45	(3.31)	5.61	(4.50)	16.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Future Metals 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.

Did you try this?

Run Price Exposure Probability Now

Price Exposure Probability

Analyze equity upside and downside potential for a given time horizon across multiple markets

All Next

Launch Module

Future Metals Corporate Executives

Elected by the shareholders, the Future Metals' board of directors comprises two types of representatives: Future Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Future. The board's role is to monitor Future Metals' management team and ensure that shareholders' interests are well served. Future Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Future Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.

	Thomas ORourke	Company CFO	Profile
	Tom ORourke	Company CFO	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC