Glencore PLC Correlations

GLNCY Stock

USD 8.82 0.29 3.40%

The current 90-days correlation between Glencore PLC ADR and Anglo American PLC is 0.78 (i.e., Poor diversification). The correlation of Glencore 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Glencore PLC Correlation With Market

Average diversification

The correlation between Glencore PLC ADR and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glencore PLC ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Glencore 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 Glencore 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 Glencore 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 Glencore PLC ADR to buy it.

Moving together with Glencore Pink Sheet

0.79	BHPLF	BHP Group Limited	Pair Corr
0.61	RIO	Rio Tinto ADR	Pair Corr
0.99	GLCNF	Glencore PLC	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.68	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Glencore Pink Sheet

0.6	MBFJF	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.55	MFG	Mizuho Financial Earnings Call Tomorrow	Pair Corr
0.55	MZHOF	Mizuho Financial Earnings Call Tomorrow	Pair Corr
0.48	MUFG	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.46	SMFG	Sumitomo Mitsui Financial Sell-off Trend	Pair Corr
0.46	MNPR	Monopar Therapeutics	Pair Corr
0.4	SMFNF	Sumitomo Mitsui Financial Normal Trading	Pair Corr
0.58	BA	Boeing	Pair Corr
0.34	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	NGLOY	SMMYY	RTPPF	IVPAF	AAUKF	FSUGY	SHTLF	SOUHY	BHP	VALE
NGLOY		0.15	0.35	0.44	0.46	0.57	0.12	0.36	0.32	0.18	NGLOY
SMMYY	0.15		0.74	0.28	0.4	0.74	0.48	0.48	0.92	0.91	SMMYY
RTPPF	0.35	0.74		0.39	0.62	0.75	0.44	0.41	0.76	0.73	RTPPF
IVPAF	0.44	0.28	0.39		0.25	0.32	0.81	0.82	0.38	0.38	IVPAF
AAUKF	0.46	0.4	0.62	0.25		0.65	0.22	0.2	0.38	0.29	AAUKF
FSUGY	0.57	0.74	0.75	0.32	0.65		0.38	0.36	0.8	0.73	FSUGY
SHTLF	0.12	0.48	0.44	0.81	0.22	0.38		0.78	0.48	0.56	SHTLF
SOUHY	0.36	0.48	0.41	0.82	0.2	0.36	0.78		0.52	0.58	SOUHY
BHP	0.32	0.92	0.76	0.38	0.38	0.8	0.48	0.52		0.96	BHP
VALE	0.18	0.91	0.73	0.38	0.29	0.73	0.56	0.58	0.96		VALE
	NGLOY	SMMYY	RTPPF	IVPAF	AAUKF	FSUGY	SHTLF	SOUHY	BHP	VALE

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Risk-Adjusted Indicators

There is a big difference between Glencore Pink Sheet performing well and Glencore 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 Glencore 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
NGLOY	1.53	(0.08)	(0.20)	2.51	(3.18)	11.05
SMMYY	1.30	(0.35)	(0.45)	1.57	(2.96)	11.87
RTPPF	0.96	(0.06)	1.07	3.14	(2.91)	13.69
IVPAF	2.08	(0.34)	(0.42)	4.13	(4.75)	14.96
AAUKF	1.25	(0.05)	(5.46)	2.36	(4.44)	16.61
FSUGY	1.61	(0.16)	(0.39)	2.75	(4.03)	10.86
SHTLF	1.42	(0.24)	(0.33)	3.41	(7.49)	22.27
SOUHY	1.71	(0.29)	(0.31)	3.12	(3.66)	10.98
BHP	1.05	(0.21)	(0.68)	1.64	(2.42)	7.71
VALE	1.27	(0.18)	(0.46)	3.53	(2.82)	10.07

Be your own money manager

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

Martin Fewings	Head Communications	Profile
Shaun Teichner	G Counsel	Profile
Gary Nagle	CEO Director	Profile
Peter Freyberg	Head Assets	Profile
Dawid Myburgh	Chief Geologist	Profile
Shaun CA	Head Devel	Profile
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