Imdex Correlations
| IMDXF Stock | USD 3.06 0.01 0.33% |
The current 90-days correlation between Imdex Limited and Bodycote plc is -0.02 (i.e., Good diversification). The correlation of Imdex 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.
Imdex Correlation With Market
Poor diversification
The correlation between Imdex Limited and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imdex Limited and DJI in the same portfolio, assuming nothing else is changed.
Imdex |
The ability to find closely correlated positions to Imdex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Imdex 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 Imdex - 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 Imdex Limited to buy it.
Moving together with Imdex Pink Sheet
| 0.63 | GE | GE Aerospace | PairCorr |
| 0.68 | GEV | GE Vernova LLC Sell-off Trend | PairCorr |
| 0.76 | PH | Parker Hannifin | PairCorr |
| 0.61 | SMAWF | Siemens AG Class | PairCorr |
| 0.62 | SBGSF | Schneider Electric | PairCorr |
| 0.62 | ITW | Illinois Tool Works | PairCorr |
| 0.74 | EMR | Emerson Electric | PairCorr |
| 0.67 | NFPDF | Nissin Foods Holdings | PairCorr |
| 0.74 | FMCB | Farmers Merchants Bancorp | PairCorr |
| 0.66 | DAIUF | Daifuku Co | PairCorr |
| 0.64 | FUWAF | Furukawa Electric | PairCorr |
| 0.74 | UAA | Under Armour A | PairCorr |
| 0.7 | GBOOY | Grupo Financiero Banorte | PairCorr |
| 0.74 | JOE | St Joe Company | PairCorr |
| 0.86 | PALAF | Paladin Energy | PairCorr |
| 0.83 | STRS | Stratus Properties | PairCorr |
| 0.79 | SOJE | Southern Company | PairCorr |
| 0.61 | XYIGY | Xinyi Glass Holdings | PairCorr |
| 0.82 | MSGE | Madison Square Garden | PairCorr |
| 0.82 | FNV | Franco Nevada | PairCorr |
| 0.79 | TOELF | Tokyo Electron | PairCorr |
| 0.74 | BNL | Broadstone Net Lease | PairCorr |
Moving against Imdex Pink Sheet
| 0.78 | NDEKY | Nitto Denko Corp | PairCorr |
| 0.43 | VWAGY | Volkswagen AG 110 Earnings Call This Week | PairCorr |
| 0.32 | 743674AY9 | PROTECTIVE LIFE P | PairCorr |
| 0.73 | ERHE | ERHC Energy | PairCorr |
| 0.41 | ICNM | Icon Media Holdings | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Imdex Pink Sheet performing well and Imdex 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 Imdex'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BYPLF | 0.50 | 0.25 | 0.00 | (27.89) | 0.00 | 0.00 | 16.86 | |||
| UHOIF | 0.77 | 0.17 | 0.00 | 0.38 | 0.00 | 2.15 | 20.08 | |||
| FMMFF | 2.62 | 1.34 | 0.00 | (3.12) | 0.00 | 0.00 | 87.95 | |||
| DEUZF | 1.05 | 0.47 | 0.00 | 1.26 | 0.00 | 1.12 | 17.59 | |||
| CHRHF | 1.42 | 0.67 | 0.00 | (1.56) | 0.00 | 3.57 | 34.92 | |||
| LONKF | 0.27 | 0.13 | 0.00 | (26.61) | 0.00 | 0.00 | 9.09 | |||
| SISXF | 0.72 | 0.30 | 0.17 | (3.48) | 0.34 | 2.35 | 6.99 | |||
| KRNTY | 0.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.48 | 4.97 | |||
| CZGZF | 2.59 | 0.56 | 0.17 | 1.43 | 2.17 | 7.82 | 23.39 | |||
| GLYYY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Imdex 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.Did you try this?
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Imdex Corporate Management
| Michael Tomasz | Company Counsel | Profile | |
| Kiah Grafton | Chief People | Profile | |
| Shaun Southwell | Chief Officer | Profile | |
| Kym Clements | Investor Communications | Profile | |
| BCom BCom | Chief Officer | Profile | |
| John PE | Chief Officer | Profile |