Firstrand Correlations
| FSR Stock | 9,773 34.00 0.35% |
The current 90-days correlation between Firstrand and South32 is 0.13 (i.e., Average diversification). The correlation of Firstrand 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.
Firstrand Correlation With Market
Very poor diversification
The correlation between Firstrand and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Firstrand and DJI in the same portfolio, assuming nothing else is changed.
Firstrand |
The ability to find closely correlated positions to Firstrand could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Firstrand 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 Firstrand - 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 Firstrand to buy it.
Moving together with Firstrand Stock
| 0.87 | GLN | Glencore PLC | PairCorr |
| 0.89 | AGL | Anglo American PLC Earnings Call Tomorrow | PairCorr |
| 0.77 | SSW | Sibanye Stillwater Earnings Call Tomorrow | PairCorr |
| 0.95 | SBK | Standard Bank Group | PairCorr |
| 0.93 | BHG | BHP Group Limited | PairCorr |
| 0.73 | SAC | SA Corporate Real | PairCorr |
| 0.74 | EMN | eMedia Holdings | PairCorr |
| 0.89 | JSE | JSE Limited | PairCorr |
| 0.88 | S32 | South32 | PairCorr |
| 0.79 | IMP | Impala Platinum Holdings | PairCorr |
| 0.92 | CPI | Capitec Bank Holdings | PairCorr |
| 0.79 | TPC | Transpaco | PairCorr |
| 0.67 | LSK | Lesaka Technologies | PairCorr |
| 0.98 | ABG | Absa Group | PairCorr |
| 0.76 | ANG | AngloGold Ashanti Earnings Call Tomorrow | PairCorr |
| 0.76 | NED | Nedbank Group | PairCorr |
| 0.78 | PMR | Premier Group | PairCorr |
| 0.87 | KIO | Kumba Iron Ore | PairCorr |
| 0.89 | AVI | Avi | PairCorr |
| 0.89 | MTH | Motus Holdings Earnings Call This Week | PairCorr |
| 0.87 | HCI | Hosken Consolidated | PairCorr |
| 0.85 | BWN | Balwin Properties | PairCorr |
| 0.8 | RFG | RFG Holdings | PairCorr |
| 0.78 | MTN | MTN Group | PairCorr |
| 0.92 | MTM | Momentum Metropolitan | PairCorr |
| 0.63 | KP2 | Kore Potash Plc | PairCorr |
| 0.78 | NPH | Northam Platinum Holdings Earnings Call Next Week | PairCorr |
Moving against Firstrand Stock
| 0.78 | SBPP | Standard Bank Group | PairCorr |
| 0.77 | PIK | Pick N Pay | PairCorr |
| 0.73 | SBKP | Standard Bank Group | PairCorr |
| 0.49 | ANI | Afine Investments | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Firstrand Stock performing well and Firstrand 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 Firstrand'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| S32 | 1.68 | 0.50 | 0.20 | 0.96 | 1.94 | 3.61 | 10.56 | |||
| SBK | 0.79 | 0.26 | 0.22 | 1.59 | 0.74 | 2.14 | 4.40 | |||
| ART | 1.32 | 0.27 | 0.14 | (0.84) | 1.18 | 4.46 | 10.56 | |||
| AFH | 1.41 | (0.10) | 0.00 | (0.43) | 0.00 | 2.89 | 10.47 | |||
| ZZD | 1.48 | 0.20 | 0.09 | 3.54 | 1.56 | 3.09 | 19.10 | |||
| HCI | 1.74 | 0.32 | 0.14 | 3.73 | 1.72 | 5.60 | 11.93 | |||
| NPH | 2.80 | 0.48 | 0.11 | 1.40 | 3.78 | 6.04 | 19.76 | |||
| QFH | 3.24 | 0.53 | 0.07 | (0.24) | 3.70 | 10.53 | 34.90 | |||
| AGL | 1.58 | 0.30 | 0.13 | 4.07 | 1.71 | 3.51 | 10.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Firstrand 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?
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Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
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Firstrand Corporate Management
Elected by the shareholders, the Firstrand's board of directors comprises two types of representatives: Firstrand inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Firstrand. The board's role is to monitor Firstrand's management team and ensure that shareholders' interests are well served. Firstrand'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, Firstrand's outside directors are responsible for providing unbiased perspectives on the board's policies.