Highcom Correlations

HCL Stock

0.21 0.00 0.00%

The current 90-days correlation between Highcom and Australian Dairy Nutritionals is -0.04 (i.e., Good diversification). The correlation of Highcom 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.

Highcom Correlation With Market

Very good diversification

The correlation between Highcom and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highcom and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Highcom Stock

0.58	PLC	PREMIER1 Lithium	Pair Corr
0.57	CAV	Carnavale Resources Split	Pair Corr
0.56	NABPH	National Australia Bank	Pair Corr
0.52	AN3PK	Australia and New	Pair Corr
0.46	SVM	Sovereign Metals	Pair Corr
0.42	NABPI	National Australia Bank	Pair Corr
0.42	CBAPJ	Commonwealth Bank	Pair Corr
0.39	CBA	Commonwealth Bank	Pair Corr
0.39	BHP	BHP Group Earnings Call This Week	Pair Corr
0.38	PXR	Pacific Resources	Pair Corr
0.36	CGFPC	Challenger Earnings Call Tomorrow	Pair Corr
0.36	RC1	Redcastle Resources Split	Pair Corr
0.35	WBCPM	Westpac Banking	Pair Corr
0.35	NABPF	National Australia Bank	Pair Corr
0.34	NABPJ	National Australia Bank	Pair Corr
0.32	MEU	Marmota	Pair Corr
0.31	CBAPM	Commonwealth Bank	Pair Corr
0.31	HCH	Hot Chili	Pair Corr
0.59	WES	Wesfarmers Earnings Call This Week	Pair Corr
0.55	EVZ	EVZ	Pair Corr
0.54	NST	Northern Star Resources	Pair Corr
0.52	CR9	Corella Resources	Pair Corr
0.5	ZLD	Zelira Therapeutics	Pair Corr
0.48	RRL	Regis Resources Earnings Call This Week	Pair Corr
0.45	ORN	Orion Minerals	Pair Corr
0.41	GW1	Greenwing Resources	Pair Corr
0.4	NVQ	Noviqtech	Pair Corr
0.4	FPC	Fat Prophets Global	Pair Corr

Related Correlations Analysis

	WBCPI	IXJ	AHF	VMS	EMB	AAC	IFRA	ERA	IMU	ANR
WBCPI		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	WBCPI
IXJ	0.0		0.3	-0.5	0.31	0.42	-0.45	-0.42	0.55	0.21	IXJ
AHF	0.0	0.3		-0.68	-0.18	0.75	-0.63	-0.53	0.37	0.2	AHF
VMS	0.0	-0.5	-0.68		0.0	-0.7	0.57	0.4	-0.44	-0.07	VMS
EMB	0.0	0.31	-0.18	0.0		0.2	-0.02	0.23	-0.01	-0.1	EMB
AAC	0.0	0.42	0.75	-0.7	0.2		-0.72	-0.37	0.47	0.26	AAC
IFRA	0.0	-0.45	-0.63	0.57	-0.02	-0.72		0.36	-0.65	-0.51	IFRA
ERA	0.0	-0.42	-0.53	0.4	0.23	-0.37	0.36		-0.28	-0.12	ERA
IMU	0.0	0.55	0.37	-0.44	-0.01	0.47	-0.65	-0.28		0.64	IMU
ANR	0.0	0.21	0.2	-0.07	-0.1	0.26	-0.51	-0.12	0.64		ANR
	WBCPI	IXJ	AHF	VMS	EMB	AAC	IFRA	ERA	IMU	ANR

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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

AAC	+ 0.75	AHF
ANR	+ 0.64	IMU
IFRA	+ 0.57	VMS
IMU	+ 0.55	IXJ
IMU	+ 0.47	AAC
AAC	+ 0.42	IXJ

High negative correlations

IFRA	- 0.72	AAC
AAC	- 0.7	VMS
VMS	- 0.68	AHF
IMU	- 0.65	IFRA
IFRA	- 0.63	AHF
ERA	- 0.53	AHF

Risk-Adjusted Indicators

There is a big difference between Highcom Stock performing well and Highcom 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 Highcom'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
WBCPI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IXJ	0.74	0.01	(0.06)	(0.05)	0.84	(0.78)	1.49	(1.18)	4.82
AHF	3.37	(0.60)	0.00	2.79	0.00	0.00	5.71	(7.41)	22.74
VMS	11.00	2.87	0.14	18.87	11.85	(21.05)	15.79	(12.50)	238.73
EMB	0.17	0.07	0.00	(0.57)	0.00	0.00	0.00	0.00	6.46
AAC	1.27	(0.08)	0.00	0.21	0.00	0.00	2.90	(2.82)	9.04
IFRA	0.48	0.13	0.10	(0.91)	0.44	(0.53)	0.96	(0.84)	2.98
ERA	12.11	1.41	0.06	(8.79)	12.67	(23.61)	25.00	(25.00)	75.00
IMU	3.03	(0.30)	0.00	(1.67)	0.00	0.00	6.67	(6.06)	21.80
ANR	3.42	0.08	0.00	0.03	0.00	0.00	10.00	(14.29)	33.33

Be your own money manager

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

Elected by the shareholders, the Highcom's board of directors comprises two types of representatives: Highcom inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Highcom. The board's role is to monitor Highcom's management team and ensure that shareholders' interests are well served. Highcom'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, Highcom's outside directors are responsible for providing unbiased perspectives on the board's policies.

Scott Basham	Group Officer	Profile
Natalie Climo	CoCompany Secretary	Profile
Jacqui Myers	Company Secretary	Profile
David Thompson	Head Office	Profile
Martyn Dominy	Group Officer	Profile
Todd Ashurst	Group Division	Profile
Geoffrey Knox	Executive Board	Profile

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