Orora Correlations

ORA Stock

2.20 0.01 0.45%

The current 90-days correlation between Orora and Evolution Mining is 0.14 (i.e., Average diversification). The correlation of Orora 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.

Orora Correlation With Market

Very good diversification

The correlation between Orora and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orora and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Orora Stock

0.68	PE1	Pengana Private Equity	Pair Corr
0.54	EVN	Evolution Mining	Pair Corr
0.54	ELS	Elsight	Pair Corr
0.49	SFR	Sandfire Resources Earnings Call This Week	Pair Corr
0.49	IOV	Ion Video Split	Pair Corr
0.48	BSL	Bluescope Steel Earnings Call Tomorrow	Pair Corr
0.47	RMS	Ramelius Resources Earnings Call This Week	Pair Corr
0.38	NST	Northern Star Resources	Pair Corr
0.58	SIG	Sigma Healthcare	Pair Corr
0.56	NMG	New Murchison Gold	Pair Corr
0.49	EVZ	EVZ	Pair Corr
0.45	G50	G50 Corp	Pair Corr
0.45	WLE	Wam Leaders	Pair Corr
0.43	MGX	Mount Gibson Iron Earnings Call Tomorrow	Pair Corr
0.41	WR1	Winsome Resources	Pair Corr
0.39	GPR	Geopacific Resources	Pair Corr
0.37	KCN	Kingsgate Consolidated	Pair Corr
0.33	BOQPG	Bank of Queensland	Pair Corr
0.68	DYL	Deep Yellow	Pair Corr
0.64	WHC	Whitehaven Coal Earnings Call This Week	Pair Corr
0.53	TVL	Touch Ventures	Pair Corr
0.51	RC1	Redcastle Resources Split	Pair Corr
0.48	CR9	Corella Resources	Pair Corr
0.47	WOW	Woolworths Group	Pair Corr
0.39	RIO	RIO Tinto Earnings Call This Week	Pair Corr
0.34	PEX	Peel Mining	Pair Corr

Related Correlations Analysis

	NST	EVN	AAI	BSL	SFR	RMS	GMD	PRU
NST		0.7	0.28	0.47	0.48	0.56	0.39	0.53	NST
EVN	0.7		0.77	0.84	0.9	0.92	0.72	0.72	EVN
AAI	0.28	0.77		0.88	0.91	0.9	0.86	0.79	AAI
BSL	0.47	0.84	0.88		0.91	0.91	0.76	0.78	BSL
SFR	0.48	0.9	0.91	0.91		0.95	0.84	0.77	SFR
RMS	0.56	0.92	0.9	0.91	0.95		0.89	0.86	RMS
GMD	0.39	0.72	0.86	0.76	0.84	0.89		0.93	GMD
PRU	0.53	0.72	0.79	0.78	0.77	0.86	0.93		PRU
	NST	EVN	AAI	BSL	SFR	RMS	GMD	PRU

Risk-Adjusted Indicators

There is a big difference between Orora Stock performing well and Orora 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 Orora'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
NST	2.42	0.22	0.04	12.01	3.55	(2.27)	4.07	(5.61)	13.67
EVN	2.36	0.52	0.16	1.52	2.58	(2.57)	4.54	(4.60)	15.90
AAI	2.52	0.61	0.17	0.82	2.89	(2.76)	6.21	(5.23)	15.79
BSL	1.52	0.48	0.41	1.56	0.66	(2.17)	3.38	(1.59)	22.73
SFR	1.74	0.26	0.07	5.35	2.46	(1.61)	4.04	(3.93)	12.09
RMS	2.45	0.40	0.11	0.89	2.97	(2.61)	6.30	(5.33)	13.99
GMD	2.57	0.23	0.05	1.14	3.74	(2.48)	4.48	(6.02)	17.50
PRU	1.91	0.21	0.06	3.60	2.29	(2.14)	3.78	(3.89)	12.60

Be your own money manager

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

Elected by the shareholders, the Orora's board of directors comprises two types of representatives: Orora inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Orora. The board's role is to monitor Orora's management team and ensure that shareholders' interests are well served. Orora'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, Orora's outside directors are responsible for providing unbiased perspectives on the board's policies.

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MS BS	Pres Solutions	Profile
LLB BCom	Chief Officer	Profile
Angela Iorio	Chief Officer	Profile
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