International Steels Correlations

ISL Stock

72.27 0.45 0.63%

The current 90-days correlation between International Steels and Ghani Chemical Industries is 0.25 (i.e., Modest diversification). The correlation of International Steels 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.

International Steels Correlation With Market

Significant diversification

The correlation between International Steels and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Steels and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with International Stock

0.71	KEL	K Electric	Pair Corr
0.67	PTC	Pakistan Telecommunicatio	Pair Corr
0.69	BWCL	Bestway Cement	Pair Corr

Related Correlations Analysis

	GCIL	EFUG	RICL	ICL	SARC	OLPL	ORM	AICL
GCIL		0.69	0.71	0.75	-0.16	0.7	0.6	0.88	GCIL
EFUG	0.69		0.64	0.67	-0.03	0.57	0.51	0.63	EFUG
RICL	0.71	0.64		0.6	0.26	0.79	0.78	0.76	RICL
ICL	0.75	0.67	0.6		0.04	0.55	0.48	0.65	ICL
SARC	-0.16	-0.03	0.26	0.04		0.21	0.18	0.01	SARC
OLPL	0.7	0.57	0.79	0.55	0.21		0.93	0.79	OLPL
ORM	0.6	0.51	0.78	0.48	0.18	0.93		0.7	ORM
AICL	0.88	0.63	0.76	0.65	0.01	0.79	0.7		AICL
	GCIL	EFUG	RICL	ICL	SARC	OLPL	ORM	AICL

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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

ORM	+ 0.93	OLPL
AICL	+ 0.88	GCIL
OLPL	+ 0.79	RICL
AICL	+ 0.79	OLPL
ORM	+ 0.78	RICL
AICL	+ 0.76	RICL

High negative correlations

SARC	- 0.16	GCIL
SARC	- 0.03	EFUG

Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Steels 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 International Steels' 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
GCIL	2.54	0.45	0.19	0.56	2.05	(3.16)	9.88	(3.75)	15.10
EFUG	2.42	0.71	0.15	(3.29)	2.41	(3.07)	9.09	(4.24)	17.95
RICL	2.63	0.54	0.07	(0.37)	2.96	(3.03)	6.89	(4.76)	20.15
ICL	1.46	0.18	0.06	0.54	1.47	(1.89)	3.34	(2.26)	9.90
SARC	2.09	0.08	0.00	0.68	2.70	(5.41)	8.57	(5.77)	19.01
OLPL	1.07	0.23	0.18	0.47	0.72	(1.43)	3.35	(1.52)	10.74
ORM	1.64	0.35	0.13	0.58	1.61	(2.12)	4.31	(3.41)	20.17
AICL	1.68	0.40	0.13	(0.46)	1.22	(2.13)	4.12	(2.51)	13.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in International Steels 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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