GenIP PLC Correlations

GNIP Stock

8.75 0.00 0.00%

The current 90-days correlation between GenIP PLC and Atalaya Mining is -0.06 (i.e., Good diversification). The correlation of GenIP 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.

GenIP PLC Correlation With Market

Significant diversification

The correlation between GenIP PLC and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GenIP PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GenIP 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 GenIP 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 GenIP 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 GenIP PLC to buy it.

Moving together with GenIP Stock

0.73	0QP1	Chocoladefabriken Lindt	Pair Corr
0.74	0QKN	Chocoladefabriken Lindt	Pair Corr

Moving against GenIP Stock

0.86	BGEO	Lion Finance Group	Pair Corr
0.85	SSLN	iShares Physical Silver	Pair Corr
0.76	GAW	Games Workshop Group	Pair Corr
0.74	LGEN	Legal General Group	Pair Corr
0.73	0LQQ	Vodafone Group PLC	Pair Corr
0.69	0O76	AP Moeller Maersk	Pair Corr
0.68	0O77	AP Moeller	Pair Corr
0.67	0KED	Infineon Technologies	Pair Corr
0.6	GNC	Greencore Group	Pair Corr
0.54	GBSS	Gold Bullion Securities	Pair Corr
0.54	SGLP	Invesco Physical Gold	Pair Corr
0.52	0NV5	UPM Kymmene Oyj	Pair Corr
0.51	CUSN	Cornish Metals	Pair Corr
0.45	0MDT	Electrolux AB Class	Pair Corr
0.45	RIGD	Reliance Industries	Pair Corr
0.44	0R2V	Apple Inc	Pair Corr
0.43	MSMN	Mosman Oil	Pair Corr
0.37	HSBK	Halyk Bank	Pair Corr
0.34	HLN	Haleon PLC	Pair Corr
0.91	GFM	Griffin Mining	Pair Corr
0.9	0MZX	Vienna Insurance	Pair Corr
0.9	TENG	Ten Lifestyle Group	Pair Corr
0.88	ECO	Eco Oil Gas	Pair Corr
0.79	WIX	Wickes Group PLC	Pair Corr
0.77	0KJD	Planet Fitness Cl	Pair Corr
0.68	GLEN	Glencore PLC	Pair Corr
0.65	OMU	Old Mutual	Pair Corr
0.61	IDHC	Integrated Diagnostics	Pair Corr
0.61	JEGI	JPMorgan European Growth	Pair Corr
0.57	SPAL	Source Physical Palladium	Pair Corr

Related Correlations Analysis

	ATYM	0RQ9	WPM	MTL	0JZZ	IHG	AUTO
ATYM		0.89	0.65	0.28	0.25	0.88	-0.82	ATYM
0RQ9	0.89		0.52	-0.04	0.22	0.94	-0.89	0RQ9
WPM	0.65	0.52		0.56	0.22	0.47	-0.63	WPM
MTL	0.28	-0.04	0.56		-0.01	-0.06	0.05	MTL
0JZZ	0.25	0.22	0.22	-0.01		0.26	-0.39	0JZZ
IHG	0.88	0.94	0.47	-0.06	0.26		-0.86	IHG
AUTO	-0.82	-0.89	-0.63	0.05	-0.39	-0.86		AUTO
	ATYM	0RQ9	WPM	MTL	0JZZ	IHG	AUTO

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

IHG	+ 0.94	0RQ9
0RQ9	+ 0.89	ATYM
IHG	+ 0.88	ATYM
WPM	+ 0.65	ATYM
MTL	+ 0.56	WPM
WPM	+ 0.52	0RQ9

High negative correlations

AUTO	- 0.89	0RQ9
AUTO	- 0.86	IHG
AUTO	- 0.82	ATYM
AUTO	- 0.63	WPM
AUTO	- 0.39	0JZZ
IHG	- 0.06	MTL

Risk-Adjusted Indicators

There is a big difference between GenIP Stock performing well and GenIP 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 GenIP 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
ATYM	1.71	0.43	0.20	0.94	1.59	(2.00)	4.26	(3.12)	11.37
0RQ9	2.08	0.67	0.24	4.98	2.07	(2.45)	4.25	(3.69)	16.47
WPM	2.18	0.21	0.04	0.69	3.42	(2.24)	4.57	(5.33)	14.86
MTL	2.66	0.33	0.07	(1.69)	3.10	(3.06)	6.15	(5.33)	15.57
0JZZ	1.71	0.01	0.01	0.09	1.98	(1.97)	4.24	(3.19)	13.01
IHG	0.96	0.24	0.24	0.57	0.55	(1.25)	2.60	(1.24)	6.28
AUTO	1.08	(0.40)	0.00	5.57	0.00	0.00	1.92	(2.88)	9.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in GenIP 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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