Netcall Plc Correlations

NET Stock

110.50 0.00 0.00%

The correlation of Netcall 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.

Netcall Plc Correlation With Market

Good diversification

The correlation between Netcall plc and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netcall plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Netcall 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 Netcall 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 Netcall 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 Netcall plc to buy it.

Moving against Netcall Stock

0.72	EDV	Endeavour Mining Corp	Pair Corr
0.7	0P6S	Bayer AG NA	Pair Corr
0.6	CAD	Cadogan Petroleum plc	Pair Corr
0.59	ECO	Eco Oil Gas	Pair Corr
0.53	BERI	Blackrock Energy	Pair Corr
0.52	0JWG	MKS Instruments	Pair Corr
0.52	IHG	InterContinental Hotels	Pair Corr
0.49	0R6V	mobilezone holding	Pair Corr
0.48	RIGD	Reliance Industries	Pair Corr
0.48	0RQ9	Lundin Mining Corp	Pair Corr
0.46	0QZK	Coca Cola	Pair Corr
0.43	PCFT	Polar Capital Global	Pair Corr
0.41	GCP	GCP Infrastructure	Pair Corr
0.4	BC94	Samsung Electronics	Pair Corr
0.39	SMSN	Samsung Electronics	Pair Corr
0.37	SSIT	Seraphim Space Investment	Pair Corr
0.36	DRX	Drax Group PLC	Pair Corr
0.32	AXB	Axis Bank	Pair Corr
0.32	0L7G	Snap On	Pair Corr
0.72	EUA	Eurasia Mining	Pair Corr
0.7	UAV	Unicorn AIM VCT	Pair Corr
0.68	BAKK	Bakkavor Group PLC	Pair Corr
0.68	ICGC	Irish Continental	Pair Corr
0.67	GBSS	Gold Bullion Securities	Pair Corr
0.63	0JRL	Kohl Corp	Pair Corr
0.62	RS1	RS GROUP PLC	Pair Corr
0.62	STEM	SThree plc	Pair Corr
0.57	AAZ	Anglo Asian Mining	Pair Corr
0.5	0KED	Infineon Technologies	Pair Corr

Related Correlations Analysis

	AA4	FEVR	0FGH	0RFX	UU	PRV	ABF
AA4		-0.43	0.65	-0.74	0.2	0.75	-0.27	AA4
FEVR	-0.43		-0.15	0.42	-0.03	-0.25	0.49	FEVR
0FGH	0.65	-0.15		-0.42	0.27	0.67	-0.27	0FGH
0RFX	-0.74	0.42	-0.42		-0.4	-0.76	0.03	0RFX
UU	0.2	-0.03	0.27	-0.4		0.47	0.51	UU
PRV	0.75	-0.25	0.67	-0.76	0.47		-0.02	PRV
ABF	-0.27	0.49	-0.27	0.03	0.51	-0.02		ABF
	AA4	FEVR	0FGH	0RFX	UU	PRV	ABF

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

PRV	+ 0.75	AA4
PRV	+ 0.67	0FGH
0FGH	+ 0.65	AA4
ABF	+ 0.51	UU
ABF	+ 0.49	FEVR
PRV	+ 0.47	UU

High negative correlations

PRV	- 0.76	0RFX
0RFX	- 0.74	AA4
FEVR	- 0.43	AA4
0RFX	- 0.42	0FGH
UU	- 0.4	0RFX
ABF	- 0.27	0FGH

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AA4	0.37	0.06	0.00	(1.08)	0.53	(0.54)	0.92	(0.46)	6.09
FEVR	1.26	(0.13)	0.00	(0.10)	0.00	0.00	2.82	(2.37)	7.23
0FGH	1.39	0.15	0.08	0.50	1.33	(1.75)	3.03	(2.25)	9.40
0RFX	0.74	(0.13)	0.00	(0.40)	0.00	0.00	1.43	(1.88)	4.40
UU	0.72	0.11	0.08	(7.60)	0.61	(0.93)	1.54	(1.19)	5.57
PRV	1.42	0.22	0.06	(1.17)	2.10	(1.65)	3.90	(3.01)	16.38
ABF	0.80	0.09	0.04	0.49	1.00	(0.83)	1.45	(1.53)	5.74

Be your own money manager

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

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