Methanex Correlations

Stocks . Canada . 
Stock . Methanex
MX Stock  CAD 67.48  0.04  0.06%   
The current 90-days correlation between Methanex and Fortuna Silver Mines is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Methanex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Methanex moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Methanex Correlation With Market

Very poor diversification

The correlation between Methanex and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methanex and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Methanex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Methanex 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 Methanex - 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 Methanex to buy it.

Moving together with Methanex Stock

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  0.88PPL-PA Pembina Pipeline Corp Earnings Call This WeekPairCorr
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  0.78WPRT Westport Fuel SystemsPairCorr
  0.77BGI-UN Brookfield GlobalPairCorr
  0.83RKR ROKMASTER Resources CorpPairCorr
  0.73QNC Quantum eMotion CorpPairCorr
  0.84CWEB Charlottes Web HoldingsPairCorr
  0.86MGG Minaurum SilverPairCorr
  0.84CU-PH Canadian Utilities Earnings Call This WeekPairCorr
  0.8CU Canadian Utilities Earnings Call This WeekPairCorr
  0.73IPO InPlay Oil CorpPairCorr
  0.8PWF-PA Power Financial CorpPairCorr
  0.9FTT Finning InternationalPairCorr
  0.63COLA Coca ColaPairCorr
  0.68DOS Dios ExplorationPairCorr
  0.75LOVE Cannara BiotechPairCorr
  0.8AGI Alamos GoldPairCorr
  0.65MS Morgan Stanley CDRPairCorr

Moving against Methanex Stock

  0.57ROOT Roots CorpPairCorr
  0.41EBM Eastwood Bio MedicalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Methanex Stock performing well and Methanex 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 Methanex'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FVI  2.71  0.33  0.09  0.23  3.66 
(2.89)
 5.28 
(6.31)
 24.56 
USA  4.26  1.04  0.21  0.49  4.68 
(4.71)
 8.70 
(6.89)
 32.50 
CG  2.32  0.63  0.15  0.51  3.44 
(2.38)
 5.87 
(4.10)
 21.48 
WDO  2.39  0.26  0.08  0.29  3.11 
(2.58)
 5.28 
(4.49)
 16.25 
SJ  1.21  0.17  0.11  0.31  1.10 
(1.45)
 3.10 
(1.94)
 6.65 
ERO  2.55  0.48  0.11  1.58  3.47 
(2.59)
 5.58 
(4.41)
 18.08 
KNT  2.06  0.59  0.17  0.52  2.80 
(2.13)
 4.61 
(3.60)
 13.97 
PPTA  3.84  0.47  0.10  0.27  4.75 
(4.10)
 8.05 
(7.61)
 29.81 
EDR  3.89  0.63  0.13  0.28  4.76 
(4.10)
 9.39 
(7.25)
 28.86 
SEA  3.08  0.54  0.13  0.44  3.84 
(3.35)
 6.58 
(4.77)
 27.40 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Methanex 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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Methanex Corporate Management

Elected by the shareholders, the Methanex's board of directors comprises two types of representatives: Methanex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Methanex. The board's role is to monitor Methanex's management team and ensure that shareholders' interests are well served. Methanex's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Methanex's outside directors are responsible for providing unbiased perspectives on the board's policies.
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