Metcash Correlations

MCSHFDelisted Stock

USD 2.85 0.00 0.00%

The correlation of Metcash 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.

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

Related Correlations Analysis

	UVRBF	OLGPF	GGGSY	GGGSF	CLBEY	FSRCY	BMRPF	BMRRY	TBLMF	BICEF
UVRBF		-0.44	-0.19	-0.18	-0.43	0.0	-0.13	-0.54	0.55	-0.48	UVRBF
OLGPF	-0.44		0.43	0.2	0.24	0.0	0.5	0.47	-0.6	0.49	OLGPF
GGGSY	-0.19	0.43		0.75	-0.01	0.0	0.36	0.32	-0.4	0.01	GGGSY
GGGSF	-0.18	0.2	0.75		-0.05	0.0	0.3	0.27	-0.08	-0.17	GGGSF
CLBEY	-0.43	0.24	-0.01	-0.05		0.0	0.2	0.34	-0.37	0.53	CLBEY
FSRCY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	FSRCY
BMRPF	-0.13	0.5	0.36	0.3	0.2	0.0		0.59	-0.27	0.34	BMRPF
BMRRY	-0.54	0.47	0.32	0.27	0.34	0.0	0.59		-0.34	0.59	BMRRY
TBLMF	0.55	-0.6	-0.4	-0.08	-0.37	0.0	-0.27	-0.34		-0.54	TBLMF
BICEF	-0.48	0.49	0.01	-0.17	0.53	0.0	0.34	0.59	-0.54		BICEF
	UVRBF	OLGPF	GGGSY	GGGSF	CLBEY	FSRCY	BMRPF	BMRRY	TBLMF	BICEF

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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

GGGSF	+ 0.75	GGGSY
BMRRY	+ 0.59	BMRPF
BICEF	+ 0.59	BMRRY
TBLMF	+ 0.55	UVRBF
BICEF	+ 0.53	CLBEY
BMRPF	+ 0.5	OLGPF

High negative correlations

TBLMF	- 0.6	OLGPF
BICEF	- 0.54	TBLMF
BMRRY	- 0.54	UVRBF
BICEF	- 0.48	UVRBF
OLGPF	- 0.44	UVRBF
CLBEY	- 0.43	UVRBF

Risk-Adjusted Indicators

There is a big difference between Metcash Pink Sheet performing well and Metcash 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 Metcash'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
UVRBF	0.20	(0.11)	0.00	7.62	0.00	0.00	0.00	0.00	6.83
OLGPF	0.34	(0.09)	0.00	1.07	0.00	0.00	0.00	0.00	6.87
GGGSY	1.05	0.12	0.01	(3.29)	1.43	(2.62)	4.57	(2.65)	11.76
GGGSF	1.39	0.18	0.02	0.89	1.86	(4.50)	5.34	(4.60)	18.53
CLBEY	1.88	0.08	0.00	15.99	2.42	(2.78)	5.41	(3.73)	15.93
FSRCY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BMRPF	1.38	0.38	0.00	23.61	0.00	0.00	4.81	(3.88)	12.93
BMRRY	2.09	0.22	0.08	0.43	2.32	(2.39)	4.53	(3.49)	11.88
TBLMF	4.92	2.14	0.44	30.66	2.93	(6.57)	11.60	(5.98)	17.13
BICEF	1.04	0.22	0.02	(0.27)	1.78	(2.79)	4.38	(1.77)	12.53

Metcash Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Metcash pink sheet to make a market-neutral strategy. Peer analysis of Metcash could also be used in its relative valuation, which is a method of valuing Metcash by comparing valuation metrics with similar companies.

Universal Robina Olam Group Limited Greggs plc Greggs plc Calbee Inc First Resources BM European Value BM European Value Tiger Brands Limited Socit BIC SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Metcash Corporate Management

BA BA	Chief Officer	Profile
Kerrie Holmes	Head Sec	Profile
Christopher Baddock	Chief Marketers	Profile
GAICD LLB	Company Legal	Profile
David Reeve	Group Officer	Profile
BCOM CA	Group Director	Profile

Still Interested in Metcash Limited?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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