Inmocemento Correlations

IMC Stock

3.66 0.05 1.35%

The current 90-days correlation between Inmocemento SA and Prosegur is -0.2 (i.e., Good diversification). The correlation of Inmocemento 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.

Inmocemento Correlation With Market

Good diversification

The correlation between Inmocemento SA and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inmocemento SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Inmocemento Stock

0.66	ITX	Industria de Diseno	Pair Corr
0.62	XVALO	Vale SA	Pair Corr
0.65	SAN	Banco Santander SA	Pair Corr
0.66	BBVA	Banco Bilbao Vizcaya	Pair Corr
0.65	CABK	Caixabank SA	Pair Corr
0.74	MTS	ArcelorMittal SA	Pair Corr
0.76	IBG	Iberpapel Gestion	Pair Corr
0.73	ACX	Acerinox	Pair Corr
0.66	XBRPO	Bradespar SA	Pair Corr
0.63	EBROM	EV MOTORS SA	Pair Corr
0.74	CBAV	Clinica Baviera	Pair Corr
0.65	AMP	Amper SA	Pair Corr
0.73	VIS	Viscofan	Pair Corr
0.69	IZER	Izertis Sa	Pair Corr
0.74	ROVI	Laboratorios Farmaceuticos	Pair Corr
0.61	CLR	CLERHP Estructuras	Pair Corr
0.68	PUIG	Puig Brands SA	Pair Corr

Related Correlations Analysis

	PSG	CAF	CASH	GRE	OHLA	RBT	TRE	ENO	GSJ	ENRS
PSG		0.03	0.79	-0.14	0.5	-0.56	0.48	0.0	-0.04	0.25	PSG
CAF	0.03		-0.39	0.79	-0.5	0.28	-0.08	-0.73	0.68	-0.71	CAF
CASH	0.79	-0.39		-0.5	0.85	-0.57	0.56	0.32	-0.54	0.69	CASH
GRE	-0.14	0.79	-0.5		-0.52	0.42	0.03	-0.72	0.55	-0.6	GRE
OHLA	0.5	-0.5	0.85	-0.52		-0.46	0.68	0.51	-0.75	0.88	OHLA
RBT	-0.56	0.28	-0.57	0.42	-0.46		-0.42	-0.3	0.19	-0.38	RBT
TRE	0.48	-0.08	0.56	0.03	0.68	-0.42		0.27	-0.36	0.62	TRE
ENO	0.0	-0.73	0.32	-0.72	0.51	-0.3	0.27		-0.45	0.69	ENO
GSJ	-0.04	0.68	-0.54	0.55	-0.75	0.19	-0.36	-0.45		-0.83	GSJ
ENRS	0.25	-0.71	0.69	-0.6	0.88	-0.38	0.62	0.69	-0.83		ENRS
	PSG	CAF	CASH	GRE	OHLA	RBT	TRE	ENO	GSJ	ENRS

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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

ENRS	+ 0.88	OHLA
OHLA	+ 0.85	CASH
CASH	+ 0.79	PSG
GRE	+ 0.79	CAF
ENRS	+ 0.69	CASH
ENRS	+ 0.69	ENO

High negative correlations

ENRS	- 0.83	GSJ
GSJ	- 0.75	OHLA
ENO	- 0.73	CAF
ENO	- 0.72	GRE
ENRS	- 0.71	CAF
ENRS	- 0.6	GRE

Risk-Adjusted Indicators

There is a big difference between Inmocemento Stock performing well and Inmocemento 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 Inmocemento'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
PSG	1.18	(0.10)	0.00	(0.24)	0.00	0.00	2.26	(2.47)	6.64
CAF	1.39	0.10	0.03	0.75	1.48	(1.65)	3.45	(1.96)	9.13
CASH	1.21	(0.30)	0.00	(1.41)	0.00	0.00	1.61	(3.08)	7.52
GRE	1.60	0.41	0.19	1.44	1.52	(1.93)	3.53	(2.61)	9.84
OHLA	1.94	(0.51)	0.00	(0.49)	0.00	0.00	2.94	(4.76)	15.26
RBT	0.73	0.11	0.03	0.31	0.82	(2.34)	3.57	(2.01)	8.06
TRE	1.64	(0.11)	0.00	(0.12)	0.00	0.00	3.81	(2.66)	12.68
ENO	1.51	(0.12)	0.00	(0.20)	0.00	0.00	2.52	(2.29)	15.79
GSJ	1.28	0.12	0.06	0.39	1.22	(1.66)	2.92	(2.21)	7.97
ENRS	2.93	(0.67)	0.00	(1.05)	0.00	0.00	8.33	(7.37)	30.97

Inmocemento Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Inmocemento stock to make a market-neutral strategy. Peer analysis of Inmocemento could also be used in its relative valuation, which is a method of valuing Inmocemento by comparing valuation metrics with similar companies.

Prosegur Construcciones y Auxiliar Prosegur Cash SA Grenergy Renovables SA Obrascon Huarte Lain Robot SA Tecnicas Reunidas Elecnor SA Grupo Empresarial San Enerside Energy SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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