Impedimed Correlations

Stocks . Australia . 
Stock . Impedimed
IPD Stock   0.02  0  10.53%   
The correlation of Impedimed 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.

Impedimed Correlation With Market

Excellent diversification

The correlation between Impedimed and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Impedimed and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Impedimed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Impedimed 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 Impedimed - 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 Impedimed to buy it.

Moving against Impedimed Stock

  0.95SHO SportsheroPairCorr
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  0.82RIO RIO Tinto Earnings Call TomorrowPairCorr
  0.8DYL Deep YellowPairCorr
  0.79MQG Macquarie GroupPairCorr
  0.78IOV Ion Video SplitPairCorr
  0.77NABPI National Australia BankPairCorr
  0.75BSA BSA Earnings Call TodayPairCorr
  0.74MQGPD Macquarie GroupPairCorr
  0.74WHC Whitehaven Coal Earnings Call TomorrowPairCorr
  0.74TRA Turners AutomotivePairCorr
  0.73ABV Advanced Braking Tec Earnings Call This WeekPairCorr
  0.71WBC Westpac BankingPairCorr
  0.71SIG Sigma HealthcarePairCorr
  0.71WLE Wam LeadersPairCorr
  0.7NMG New Murchison GoldPairCorr
  0.69NABPJ National Australia BankPairCorr
  0.68YAL Yancoal Australia Earnings Call This WeekPairCorr
  0.62BMN Bannerman EnergyPairCorr
  0.6NABPK National Australia BankPairCorr
  0.54AN3PJ Australia and NewPairCorr
  0.5ATM Aneka Tambang TBKPairCorr
  0.42RHC Ramsay Health CarePairCorr
  0.4CBAPM Commonwealth BankPairCorr
  0.39PNC Pioneer Credit Earnings Call This WeekPairCorr
  0.93LNU Linius TechnologiesPairCorr
  0.91EVZ EVZPairCorr
  0.82ASM Australian StrategicPairCorr
  0.81AGI Ainsworth Game Technology Earnings Call This WeekPairCorr
  0.75IME ImexhsPairCorr
  0.75IMR Imricor Medical Systems Earnings Call This WeekPairCorr
  0.74BRG Breville GroupPairCorr
  0.72CXU Cauldron EnergyPairCorr
  0.7AMCDD Cdi 11 Foreign SplitPairCorr
  0.6BIM Bindi MetalsPairCorr

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

RIO
+ 0.92
MQG
CBAPM
+ 0.71
MQG
CSL
+ 0.71
RMD
CBAPM
+ 0.63
RIO
CBA
+ 0.53
RIO
XYZ
+ 0.48
CSL
  

High negative correlations

CBA
- 0.81
CSL
CBAPM
- 0.7
CSL
RIO
- 0.67
CSL
RIO
- 0.61
RMD
CBA
- 0.6
XYZ
RIO
- 0.6
XYZ

Risk-Adjusted Indicators

There is a big difference between Impedimed Stock performing well and Impedimed 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 Impedimed'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.

Be your own money manager

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

Elected by the shareholders, the Impedimed's board of directors comprises two types of representatives: Impedimed inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Impedimed. The board's role is to monitor Impedimed's management team and ensure that shareholders' interests are well served. Impedimed'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, Impedimed's outside directors are responsible for providing unbiased perspectives on the board's policies.
Nancy DeisingerVP HRProfile
Timothy CruickshankChief OfficerProfile
Shashi TripathiChief OfficerProfile
Scott LongKey SalesProfile
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