Grindrod Correlations

GRDLY Stock

USD 18.00 0.00 0.00%

The current 90-days correlation between Grindrod ADR and Dominos Pizza is 0.03 (i.e., Significant diversification). The correlation of Grindrod 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.

Grindrod Correlation With Market

Good diversification

The correlation between Grindrod Ltd ADR and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grindrod Ltd ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Grindrod Pink Sheet

0.73	NVDA	NVIDIA	Pair Corr
0.67	GOOG	Alphabet Class C Sell-off Trend	Pair Corr
0.89	META	Meta Platforms Aggressive Push	Pair Corr
0.8	SSNLF	Samsung Electronics	Pair Corr
0.86	PTAIF	PT Astra International	Pair Corr
0.89	JXN-PA	Jackson Financial	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.9	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.7	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Grindrod Pink Sheet

0.67	EC	Ecopetrol SA ADR Sell-off Trend	Pair Corr
0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.64	BKRKF	PT Bank Rakyat	Pair Corr
0.53	BKRKY	Bank Rakyat	Pair Corr
0.5	TLK	Telkom Indonesia Tbk	Pair Corr
0.49	PPERY	Bank Mandiri Persero	Pair Corr
0.65	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.64	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.52	KO	Coca Cola Aggressive Push	Pair Corr
0.38	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.35	PG	Procter Gamble Sell-off Trend	Pair Corr

Related Correlations Analysis

	INBX	ABOS	DPZ	WES	KNSL	CC	WEN
INBX		0.27	-0.24	0.0	-0.39	-0.18	0.28	INBX
ABOS	0.27		-0.01	-0.53	-0.49	-0.13	0.56	ABOS
DPZ	-0.24	-0.01		0.23	0.52	0.77	0.33	DPZ
WES	0.0	-0.53	0.23		0.38	0.42	-0.06	WES
KNSL	-0.39	-0.49	0.52	0.38		0.54	-0.36	KNSL
CC	-0.18	-0.13	0.77	0.42	0.54		0.22	CC
WEN	0.28	0.56	0.33	-0.06	-0.36	0.22		WEN
	INBX	ABOS	DPZ	WES	KNSL	CC	WEN

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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

CC	+ 0.77	DPZ
WEN	+ 0.56	ABOS
CC	+ 0.54	KNSL
KNSL	+ 0.52	DPZ
CC	+ 0.42	WES
KNSL	+ 0.38	WES

High negative correlations

WES	- 0.53	ABOS
KNSL	- 0.49	ABOS
KNSL	- 0.39	INBX
WEN	- 0.36	KNSL
DPZ	- 0.24	INBX
CC	- 0.18	INBX

Risk-Adjusted Indicators

There is a big difference between Grindrod Pink Sheet performing well and Grindrod 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 Grindrod'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
INBX	2.31	0.09	0.02	0.26	2.72	(2.81)	5.54	(6.11)	16.80
ABOS	3.54	(0.56)	0.00	(0.07)	0.00	0.00	7.52	(6.78)	28.07
DPZ	1.17	0.08	0.07	0.20	1.17	(1.39)	3.26	(2.11)	7.92
WES	1.13	0.13	0.02	0.68	1.29	(1.20)	2.48	(2.16)	5.82
KNSL	1.40	(0.11)	(0.02)	0.06	2.00	(1.45)	2.57	(2.97)	9.90
CC	2.25	0.07	0.06	0.18	2.12	(2.83)	4.67	(3.97)	18.86
WEN	1.45	0.04	0.02	0.17	1.79	(1.50)	3.34	(2.45)	10.31

Be your own money manager

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

David Proc	Legal Advisor	Profile
Vicky Commaille	Group Sec	Profile
Xolani CA	CEO Services	Profile
BCom MA	Ex Limited	Profile
Alison Briggs	PR Mang	Profile
Fathima CA	CFO Director	Profile
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