Sims Metal Correlations

I8M Stock

EUR 12.50 0.30 2.34%

The current 90-days correlation between Sims Metal Management and Hong Kong Exchanges is 0.01 (i.e., Significant diversification). The correlation of Sims Metal 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.

Sims Metal Correlation With Market

Almost no diversification

The correlation between Sims Metal Management and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sims Metal Management and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sims Stock

0.83	6MK	Merck	Pair Corr
0.85	4I1	Philip Morris Intern	Pair Corr
0.81	TOTB	TotalEnergies SE	Pair Corr
0.92	HBC1	HSBC HLDG	Pair Corr
0.71	YAR	Yara International ASA Earnings Call This Week	Pair Corr
0.88	SZL	SOLSTAD OFFSHORE	Pair Corr
0.83	7GA	Gestamp Automoción	Pair Corr
0.8	30Z0	IPERIONX LTD SPADR10	Pair Corr
0.78	ENI	Eni SpA	Pair Corr
0.84	T4W	Toro Energy	Pair Corr
0.9	SKNB	Skanska AB	Pair Corr
0.81	2G0	Food Life Companies	Pair Corr
0.86	ALV	Allianz SE	Pair Corr
0.77	PRHA	Prosegur Compaa de	Pair Corr
0.93	SVKB	SANDVIK	Pair Corr
0.65	TWA	TOWA	Pair Corr
0.88	3RB	RECKITT BENCK GRP	Pair Corr
0.8	LA3A	Laureate Education Earnings Call This Week	Pair Corr
0.87	LPK	LPKF Laser Electronics	Pair Corr
0.82	3YL	SMARTOPTICS GRP AS Earnings Call This Week	Pair Corr
0.78	BAS	BASF SE	Pair Corr

Moving against Sims Stock

0.84	ABL	Abbott Laboratories	Pair Corr
0.78	6YG	IMMUNOCORE HLDGS ADS1	Pair Corr
0.73	8CW	Crown Castle Interna	Pair Corr
0.46	HK2C	Hong Kong Exchanges	Pair Corr
0.67	3HB	Hybrigenics Societe	Pair Corr
0.34	EFF	DTEFFWECHSEL BET Split	Pair Corr
0.66	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.63	4AH1	PT Ace Hardware	Pair Corr

Related Correlations Analysis

	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C
ABL		0.37	-0.61	-0.14	-0.79	-0.17	-0.84	-0.45	-0.81	0.29	ABL
DAP	0.37		0.03	0.06	-0.23	-0.23	-0.47	-0.37	-0.11	-0.18	DAP
6MK	-0.61	0.03		-0.34	0.8	0.12	0.77	0.62	0.8	-0.39	6MK
AMD	-0.14	0.06	-0.34		0.04	0.15	-0.06	-0.16	0.03	0.49	AMD
4I1	-0.79	-0.23	0.8	0.04		0.27	0.87	0.6	0.89	-0.1	4I1
W8V	-0.17	-0.23	0.12	0.15	0.27		0.29	0.38	0.12	0.42	W8V
TOTB	-0.84	-0.47	0.77	-0.06	0.87	0.29		0.72	0.77	-0.17	TOTB
AMG	-0.45	-0.37	0.62	-0.16	0.6	0.38	0.72		0.38	0.13	AMG
HBC1	-0.81	-0.11	0.8	0.03	0.89	0.12	0.77	0.38		-0.3	HBC1
HK2C	0.29	-0.18	-0.39	0.49	-0.1	0.42	-0.17	0.13	-0.3		HK2C
	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C

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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

HBC1	+ 0.89	4I1
TOTB	+ 0.87	4I1
4I1	+ 0.8	6MK
HBC1	+ 0.8	6MK
TOTB	+ 0.77	6MK
HBC1	+ 0.77	TOTB

High negative correlations

TOTB	- 0.84	ABL
HBC1	- 0.81	ABL
4I1	- 0.79	ABL
6MK	- 0.61	ABL
TOTB	- 0.47	DAP
AMG	- 0.45	ABL

Risk-Adjusted Indicators

There is a big difference between Sims Stock performing well and Sims Metal 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 Sims Metal'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
ABL	1.09	(0.19)	0.00	2.39	0.00	0.00	1.91	(2.11)	14.56
DAP	1.16	(0.05)	0.00	(0.08)	0.00	0.00	2.14	(2.62)	7.27
6MK	1.37	0.51	0.27	4.34	1.15	(1.66)	3.42	(2.23)	8.72
AMD	2.86	(0.19)	0.00	(0.15)	0.00	0.00	6.33	(5.57)	24.55
4I1	1.17	0.30	0.16	3.35	1.19	(1.31)	2.89	(2.55)	7.67
W8V	1.60	0.11	0.01	(0.27)	2.81	(3.21)	2.08	(2.04)	24.03
TOTB	0.96	0.30	0.20	(4.19)	0.86	(1.07)	2.23	(1.62)	5.97
AMG	1.46	0.20	0.09	0.55	1.57	(1.52)	3.98	(2.86)	10.70
HBC1	1.12	0.21	0.11	0.48	1.30	(1.30)	2.99	(2.05)	8.75
HK2C	0.51	(0.11)	0.00	(0.43)	0.00	0.00	1.49	(1.47)	5.73

Be your own money manager

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

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

John Glyde	Managing Metals	Profile
Ana Metelo	Joint Secretary	Profile
Elise Gautier	Group Officer	Profile
Bradley Baker	Group Officer	Profile
Stephen Mikkelsen	Group Officer	Profile
Ral HamiltonRomeo	Global Marketing	Profile

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