Mitchells Butlers Correlations

MAB Stock

242.00 1.00 0.41%

The current 90-days correlation between Mitchells Butlers PLC and Quilter PLC is 0.16 (i.e., Average diversification). The correlation of Mitchells Butlers 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.

Mitchells Butlers Correlation With Market

Good diversification

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

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

Moving together with Mitchells Stock

0.66	0HRR	CVR Energy	Pair Corr
0.65	0K1R	Viridian Therapeutics	Pair Corr

Moving against Mitchells Stock

0.79	HSBK	Halyk Bank	Pair Corr
0.76	TRX	Tissue Regenix Group	Pair Corr
0.73	DEC	Diversified Energy	Pair Corr
0.71	ARC	Arcontech Group Plc	Pair Corr
0.69	APTA	Aptamer Group PLC	Pair Corr
0.62	ENOG	Energean Oil Gas	Pair Corr
0.61	IMB	Imperial Brands PLC	Pair Corr
0.6	SOM	Somero Enterprise	Pair Corr
0.58	SGE	Sage Group PLC	Pair Corr
0.56	CLDN	Caledonia Investments	Pair Corr
0.53	AMRQ	Amaroq Minerals	Pair Corr
0.52	0K7U	News Corp Cl	Pair Corr
0.52	CNE	Capricorn Energy PLC	Pair Corr
0.48	QBT	Quantum Blockchain	Pair Corr
0.47	ATY	Athelney Trust plc	Pair Corr
0.43	0I9F	Digital Realty Trust	Pair Corr
0.43	TFIF	TwentyFour Income	Pair Corr
0.39	ITH	Ithaca Energy PLC	Pair Corr
0.37	ZIOC	Zanaga Iron Ore	Pair Corr

Related Correlations Analysis

	SMSN	SMSD	TYT	HHPD	KAP	RIGD	RICO	CEIR	0RIH	QLT
SMSN		0.96	-0.56	0.73	0.44	0.79	-0.72	0.0	-0.67	-0.43	SMSN
SMSD	0.96		-0.62	0.78	0.6	0.81	-0.76	0.0	-0.78	-0.43	SMSD
TYT	-0.56	-0.62		-0.7	-0.66	-0.72	0.62	0.0	0.73	0.09	TYT
HHPD	0.73	0.78	-0.7		0.66	0.76	-0.77	0.0	-0.8	-0.38	HHPD
KAP	0.44	0.6	-0.66	0.66		0.61	-0.62	0.0	-0.8	-0.12	KAP
RIGD	0.79	0.81	-0.72	0.76	0.61		-0.79	0.0	-0.78	-0.17	RIGD
RICO	-0.72	-0.76	0.62	-0.77	-0.62	-0.79		0.0	0.82	0.52	RICO
CEIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CEIR
0RIH	-0.67	-0.78	0.73	-0.8	-0.8	-0.78	0.82	0.0		0.35	0RIH
QLT	-0.43	-0.43	0.09	-0.38	-0.12	-0.17	0.52	0.0	0.35		QLT
	SMSN	SMSD	TYT	HHPD	KAP	RIGD	RICO	CEIR	0RIH	QLT

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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

SMSD	+ 0.96	SMSN
0RIH	+ 0.82	RICO
RIGD	+ 0.81	SMSD
RIGD	+ 0.79	SMSN
HHPD	+ 0.78	SMSD
RIGD	+ 0.76	HHPD

High negative correlations

0RIH	- 0.8	KAP
0RIH	- 0.8	HHPD
RICO	- 0.79	RIGD
0RIH	- 0.78	RIGD
0RIH	- 0.78	SMSD
RICO	- 0.77	HHPD

Risk-Adjusted Indicators

There is a big difference between Mitchells Stock performing well and Mitchells Butlers 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 Mitchells Butlers' 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
SMSN	1.80	(0.23)	0.00	1.58	0.00	0.00	3.19	(3.89)	13.41
SMSD	1.61	(0.28)	0.00	(12.19)	0.00	0.00	3.83	(3.14)	10.50
TYT	0.89	0.24	0.12	(0.76)	0.70	(2.49)	2.33	(2.21)	15.83
HHPD	1.55	(0.26)	0.00	(1.80)	0.00	0.00	3.13	(3.20)	8.83
KAP	1.26	(0.07)	0.00	(0.42)	0.00	0.00	2.57	(2.42)	6.32
RIGD	0.88	(0.10)	0.00	(0.26)	0.00	0.00	1.75	(2.20)	6.39
RICO	0.34	0.05	0.02	(0.52)	0.45	(2.88)	0.15	(0.42)	9.16
CEIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0RIH	1.65	0.27	0.12	2.32	1.87	(1.87)	4.59	(3.44)	11.67
QLT	1.18	0.13	0.08	0.28	1.29	(1.41)	3.16	(2.62)	9.02

Be your own money manager

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