Mindflair Plc Correlations

Stocks . UK . 
Stock . Mindflair Plc
MFAI Stock   0.80  0.03  3.61%   
The current 90-days correlation between Mindflair Plc and CATCo Reinsurance Opportunities is 0.09 (i.e., Significant diversification). The correlation of Mindflair 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. If the correlation is 0, the equities are not correlated; they are entirely random.
  
The ability to find closely correlated positions to Mindflair 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 Mindflair 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 Mindflair 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 Mindflair Plc to buy it.

Moving against Mindflair Stock

  0.680R08 United Parcel ServicePairCorr
  0.640JS2 Kroger Earnings Call This WeekPairCorr
  0.5GIF Gulf InvestmentPairCorr
  0.41PCT Polar Capital Technology SplitPairCorr
  0.39FCIT FC Investment TrustPairCorr
  0.38CPG Compass Group PLC Earnings Call This WeekPairCorr
  0.34JAR Jardine Matheson HoldingsPairCorr
  0.330VSO BYD CoPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PCT
+ 0.97
FCIT
FCIT
+ 0.82
CAT
MNG
+ 0.81
LGEN
PCT
+ 0.73
CAT
MNG
+ 0.45
ICG
FAIR
+ 0.44
CAT
  
High negative correlations   
LGEN
- 0.75
CAT
MNG
- 0.67
CAT
FCIT
- 0.65
LGEN
PCT
- 0.64
LGEN
PCT
- 0.56
MNG
MNG
- 0.56
FCIT

Risk-Adjusted Indicators

There is a big difference between Mindflair Stock performing well and Mindflair 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 Mindflair 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.

Be your own money manager

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

Did you try this?

Run FinTech Suite Now

   

FinTech Suite

Use AI to screen and filter profitable investment opportunities
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY