ITV Plc Correlations

ITVPF Stock

USD 1.15 0.05 4.55%

The current 90-days correlation between ITV plc and JCDecaux SA is -0.03 (i.e., Good diversification). The correlation of ITV 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.

ITV Plc Correlation With Market

Very poor diversification

The correlation between ITV plc and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ITV plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ITV 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 ITV 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 ITV 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 ITV plc to buy it.

Moving together with ITV Pink Sheet

0.65	RGLXY	RTL Group SA	Pair Corr
0.68	ITVPY	ITV PLC ADR	Pair Corr
0.83	GOOG	Alphabet Class C	Pair Corr
0.83	BMYMP	Bristol Myers Squibb	Pair Corr
0.69	META	Meta Platforms	Pair Corr
0.65	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.81	MNRO	Monro Muffler Brake	Pair Corr
0.61	IFS	Intercorp Financial Earnings Call This Week	Pair Corr
0.87	UNF	Unifirst	Pair Corr
0.91	RKLIF	Rentokil Initial plc	Pair Corr
0.74	RBA	RB Global	Pair Corr
0.62	KMFG	KMFG	Pair Corr
0.71	LBRT	Liberty Oilfield Services	Pair Corr
0.79	GLWLF	Glow Lifetech Corp	Pair Corr
0.81	IBIO	iBio Common Stock	Pair Corr
0.86	BFH	Bread Financial Holdings	Pair Corr
0.92	AKRO	Akero Therapeutics	Pair Corr
0.89	AMP	Ameriprise Financial	Pair Corr
0.81	KRG	Kite Realty Group	Pair Corr
0.82	GGZ	Gabelli Global Small	Pair Corr
0.87	SCBFY	Standard Chartered PLC	Pair Corr

Moving against ITV Pink Sheet

0.67	MSFT	Microsoft	Pair Corr
0.66	TGNA	Tegna Inc	Pair Corr
0.33	NVDA	NVIDIA	Pair Corr
0.93	LPTV	Loop Media	Pair Corr
0.53	LADX	LadRx	Pair Corr

Related Correlations Analysis

	JCDXY	JCDXF	SGBAF	TOEAF	FJTNY	CYAGF	TKOBF	UDIRF	WPPGF	TRKNY
JCDXY		0.54	0.23	-0.31	0.39	0.0	0.0	0.0	0.69	0.47	JCDXY
JCDXF	0.54		0.67	-0.3	0.14	0.0	0.0	0.0	0.12	0.2	JCDXF
SGBAF	0.23	0.67		-0.54	-0.35	0.0	0.0	0.0	0.07	0.08	SGBAF
TOEAF	-0.31	-0.3	-0.54		0.36	0.0	0.0	0.0	-0.22	0.12	TOEAF
FJTNY	0.39	0.14	-0.35	0.36		0.0	0.0	0.0	0.29	0.29	FJTNY
CYAGF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CYAGF
TKOBF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TKOBF
UDIRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	UDIRF
WPPGF	0.69	0.12	0.07	-0.22	0.29	0.0	0.0	0.0		0.42	WPPGF
TRKNY	0.47	0.2	0.08	0.12	0.29	0.0	0.0	0.0	0.42		TRKNY
	JCDXY	JCDXF	SGBAF	TOEAF	FJTNY	CYAGF	TKOBF	UDIRF	WPPGF	TRKNY

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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

WPPGF	+ 0.69	JCDXY
SGBAF	+ 0.67	JCDXF
JCDXF	+ 0.54	JCDXY
TRKNY	+ 0.47	JCDXY
TRKNY	+ 0.42	WPPGF
FJTNY	+ 0.39	JCDXY

High negative correlations

TOEAF	- 0.54	SGBAF
FJTNY	- 0.35	SGBAF
TOEAF	- 0.31	JCDXY
TOEAF	- 0.3	JCDXF
WPPGF	- 0.22	TOEAF
TRKNY	- 0.0	UDIRF

Risk-Adjusted Indicators

There is a big difference between ITV Pink Sheet performing well and ITV 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 ITV 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
JCDXY	0.16	0.06	0.00	(53.65)	0.00	0.00	0.00	0.00	3.81
JCDXF	0.61	0.26	0.00	(0.61)	0.00	0.00	0.38	0.00	13.13
SGBAF	2.76	0.16	0.01	(0.10)	4.74	(4.68)	8.42	(7.85)	25.54
TOEAF	0.66	(0.05)	0.00	2.26	0.00	0.00	3.33	(2.39)	14.65
FJTNY	0.12	0.03	0.00	(0.21)	0.00	0.00	0.00	0.00	5.59
CYAGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TKOBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UDIRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WPPGF	1.62	(0.37)	0.00	(0.32)	0.00	0.00	3.39	(5.32)	18.37
TRKNY	2.70	0.61	0.03	(0.27)	4.98	(10.45)	6.82	(3.66)	84.91

Be your own money manager

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