OZ Minerals Correlations
| OZMLFDelisted Stock | USD 19.00 0.00 0.00% |
The current 90-days correlation between OZ Minerals Limited and BioNTech SE is -0.2 (i.e., Good diversification). The correlation of OZ Minerals 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.
OZ Minerals Correlation With Market
Good diversification
The correlation between OZ Minerals Limited and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OZ Minerals Limited and DJI in the same portfolio, assuming nothing else is changed.
OZMLF |
The ability to find closely correlated positions to OZ Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OZ Minerals 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 OZ Minerals - 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 OZ Minerals Limited to buy it.
Moving against OZMLF Pink Sheet
| 0.56 | ANFGF | Antofagasta PLC | PairCorr |
| 0.47 | FCX | Freeport McMoran Copper Sell-off Trend | PairCorr |
| 0.36 | FQVLF | First Quantum Minerals | PairCorr |
Related Correlations Analysis
| 0.47 | -0.9 | 0.74 | 0.24 | 0.76 | 0.57 | WAB | ||
| 0.47 | -0.58 | 0.1 | -0.19 | 0.6 | 0.58 | BNTX | ||
| -0.9 | -0.58 | -0.5 | 0.13 | -0.71 | -0.41 | VALN | ||
| 0.74 | 0.1 | -0.5 | 0.67 | 0.36 | 0.34 | CPRX | ||
| 0.24 | -0.19 | 0.13 | 0.67 | 0.06 | 0.23 | ABOS | ||
| 0.76 | 0.6 | -0.71 | 0.36 | 0.06 | 0.74 | CCEC | ||
| 0.57 | 0.58 | -0.41 | 0.34 | 0.23 | 0.74 | GNFT | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between OZMLF Pink Sheet performing well and OZ Minerals 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 OZ Minerals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WAB | 0.85 | 0.16 | 0.20 | 0.26 | 0.55 | 2.14 | 5.10 | |||
| BNTX | 2.24 | 0.33 | 0.12 | 0.45 | 2.34 | 5.77 | 24.81 | |||
| VALN | 1.94 | (0.79) | 0.00 | 1.50 | 0.00 | 3.20 | 12.07 | |||
| CPRX | 1.45 | (0.06) | (0.03) | 0.06 | 1.73 | 2.92 | 9.53 | |||
| ABOS | 3.55 | (0.52) | 0.00 | (0.05) | 0.00 | 7.52 | 28.07 | |||
| CCEC | 1.49 | 0.15 | 0.03 | 0.69 | 1.81 | 4.13 | 13.94 | |||
| GNFT | 3.08 | (0.06) | (0.02) | 0.01 | 4.63 | 6.17 | 30.76 |
OZ Minerals 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 OZ Minerals pink sheet to make a market-neutral strategy. Peer analysis of OZ Minerals could also be used in its relative valuation, which is a method of valuing OZ Minerals by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
OZ Minerals Corporate Management
| Steven McClare | Acting Officer | Profile | |
| Sharon Lam | Group Communications | Profile | |
| Kerrina Chadwick | Head of Corporate Affairs | Profile | |
| Julie Athanasoff | Group Sec | Profile | |
| ASIA BComm | Head Devel | Profile | |
| Sheila Chan | Gen Sales | Profile | |
| Matthew Reed | Operations Lead | Profile |
Still Interested in OZ Minerals 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.