Imperial Metals Correlations

L7D Stock

EUR 1.27 0.06 4.51%

The current 90-days correlation between Imperial Metals and TOREX SEMICONDUCTOR LTD is 0.01 (i.e., Significant diversification). The correlation of Imperial Metals 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.

Imperial Metals Correlation With Market

Very good diversification

The correlation between Imperial Metals and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imperial Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Imperial Stock

0.63	GXD	Lundin Mining	Pair Corr
0.77	S2Z	Sandfire Resources	Pair Corr
0.63	E908	Lyxor 1	Pair Corr

Moving against Imperial Stock

0.68	DBPD	Xtrackers ShortDAX	Pair Corr
0.42	BYRA	BANK RAKYAT IND	Pair Corr
0.42	BYRA	PT Bank Rakyat	Pair Corr
0.37	PQ9	BANK MANDIRI	Pair Corr
0.36	PQ9	PT Bank Mandiri	Pair Corr
0.36	BYRA	BANK RAKYAT IND	Pair Corr
0.34	PTI	Perusahaan Perseroan	Pair Corr
0.32	PQ9	BANK MANDIRI	Pair Corr

Related Correlations Analysis

	85S	N0S	8KH	MLT	SMG	CC3	4GC
85S		-0.22	0.47	0.25	0.07	-0.16	-0.54	85S
N0S	-0.22		0.4	-0.1	0.05	-0.42	0.47	N0S
8KH	0.47	0.4		-0.21	0.39	-0.82	0.14	8KH
MLT	0.25	-0.1	-0.21		-0.06	0.34	-0.34	MLT
SMG	0.07	0.05	0.39	-0.06		-0.5	0.19	SMG
CC3	-0.16	-0.42	-0.82	0.34	-0.5		-0.16	CC3
4GC	-0.54	0.47	0.14	-0.34	0.19	-0.16		4GC
	85S	N0S	8KH	MLT	SMG	CC3	4GC

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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

8KH	+ 0.47	85S
4GC	+ 0.47	N0S
8KH	+ 0.4	N0S
SMG	+ 0.39	8KH
CC3	+ 0.34	MLT
MLT	+ 0.25	85S

High negative correlations

CC3	- 0.82	8KH
4GC	- 0.54	85S
CC3	- 0.5	SMG
CC3	- 0.42	N0S
4GC	- 0.34	MLT
N0S	- 0.22	85S

Risk-Adjusted Indicators

There is a big difference between Imperial Stock performing well and Imperial Metals 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 Imperial Metals' 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
85S	1.37	(0.23)	0.00	(0.09)	0.00	0.00	2.50	(2.65)	19.59
N0S	2.09	(0.13)	0.00	0.26	0.00	0.00	3.75	(3.63)	30.13
8KH	1.41	(0.37)	0.00	(0.64)	0.00	0.00	2.84	(3.61)	9.03
MLT	1.65	0.18	0.03	(2.33)	1.83	(1.82)	3.24	(3.34)	14.16
SMG	2.22	0.06	(0.01)	0.34	3.39	(2.38)	4.33	(4.00)	17.42
CC3	1.29	0.17	0.06	0.50	1.48	(1.52)	3.24	(2.80)	8.41
4GC	1.23	(0.13)	0.00	(0.01)	0.00	0.00	2.24	(3.25)	10.53

Be your own money manager

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