Iofina Plc Correlations

IOFNF Stock

USD 0.25 0.01 3.85%

The current 90-days correlation between Iofina plc and Morningstar Unconstrained Allocation is -0.1 (i.e., Good diversification). The correlation of Iofina Plc 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.

Iofina Plc Correlation With Market

Good diversification

The correlation between Iofina plc and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iofina plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Iofina Pink Sheet

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0.31	APD	Air Products	Pair Corr
0.39	NVDA	NVIDIA	Pair Corr
0.36	CHH	Choice Hotels Intern	Pair Corr
0.34	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.32	IONQ	IONQ Inc	Pair Corr

Related Correlations Analysis

	AKZOF	AVOA	ARKAY	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
AKZOF		-0.38	0.35	-0.42	0.0	-0.48	0.68	0.56	0.43	0.29	AKZOF
AVOA	-0.38		-0.11	0.29	0.0	0.02	-0.41	-0.51	-0.16	-0.03	AVOA
ARKAY	0.35	-0.11		0.38	0.0	-0.22	0.2	-0.16	0.32	0.72	ARKAY
444859BR2	-0.42	0.29	0.38		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.48	0.02	-0.22	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.68	-0.41	0.2	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	0.56	-0.51	-0.16	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	0.43	-0.16	0.32	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	0.29	-0.03	0.72	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	AKZOF	AVOA	ARKAY	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

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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

SCAXF	+ 0.72	ARKAY
MSTSX	+ 0.68	AKZOF
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.56	AKZOF
ABHYX	+ 0.51	LBHIX
ABHYX	+ 0.43	AKZOF

High negative correlations

LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
LBHIX	- 0.51	AVOA
BRRAY	- 0.48	AKZOF
MSTSX	- 0.45	BRRAY
444859BR2	- 0.42	AKZOF

Risk-Adjusted Indicators

There is a big difference between Iofina Pink Sheet performing well and Iofina Plc 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 Iofina Plc'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
AKZOF	0.65	0.04	0.00	(0.31)	0.00	0.00	2.13	(2.32)	19.11
AVOA	1.53	0.18	(0.01)	(0.07)	2.99	(16.86)	0.00	(2.44)	32.72
ARKAY	1.48	(0.36)	0.00	(0.26)	0.00	0.00	3.17	(3.66)	10.23
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

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Our tools can tell you how much better you can do entering a position in Iofina Plc 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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