Picton Property Correlations

PCTN Stock

69.90 3.70 5.03%

The current 90-days correlation between Picton Property Income and Hammerson PLC is 0.53 (i.e., Very weak diversification). The correlation of Picton Property 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.

Picton Property Correlation With Market

Average diversification

The correlation between Picton Property Income and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Picton Property Income and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Picton Stock

0.96	SUPR	Supermarket Income REIT	Pair Corr
0.84	BEZ	Beazley plc	Pair Corr
0.71	DPA	DP Aircraft I	Pair Corr
0.82	SPT	Spirent Communications	Pair Corr
0.86	PHNX	Phoenix Group Holdings	Pair Corr
0.83	ISLN	iShares Physical Silver	Pair Corr
0.76	CNA	Centrica PLC	Pair Corr
0.86	VAST	Vast Resources PLC	Pair Corr
0.79	BA	BAE Systems plc	Pair Corr
0.93	LIV	Livermore Investments	Pair Corr
0.78	0QZ0	Visa Inc Cl	Pair Corr
0.9	0ML0	Sonae SGPS SA	Pair Corr
0.78	SIS	Science in Sport	Pair Corr
0.83	0RLW	Commerzbank AG	Pair Corr
0.9	ELLA	Ecclesiastical Insurance	Pair Corr
0.72	RICA	Ruffer Investment	Pair Corr
0.88	THX	Thor Explorations	Pair Corr
0.88	0RDO	Banca Mediolanum SpA	Pair Corr
0.96	0NQT	Television Francaise	Pair Corr
0.81	MONY	MoneysupermarketCom	Pair Corr

Moving against Picton Stock

0.87	GLEN	Glencore PLC	Pair Corr
0.74	POLR	Polar Capital Holdings	Pair Corr
0.71	WPP	WPP PLC	Pair Corr
0.71	MAB	Mitchells Butlers PLC	Pair Corr
0.61	HMSO	Hammerson PLC	Pair Corr
0.49	WKP	Workspace Group PLC	Pair Corr
0.33	DLN	Derwent London PLC	Pair Corr

Related Correlations Analysis

	DLN	HMSO	SUPR	WKP	SFT	LIV	0RR8	DPA	MONY	ENQ
DLN		0.8	-0.4	0.86	-0.59	-0.42	0.61	-0.33	-0.37	-0.13	DLN
HMSO	0.8		-0.66	0.76	-0.63	-0.58	0.71	-0.7	-0.48	-0.47	HMSO
SUPR	-0.4	-0.66		-0.53	0.86	0.91	-0.28	0.66	0.84	0.24	SUPR
WKP	0.86	0.76	-0.53		-0.74	-0.63	0.58	-0.55	-0.45	-0.23	WKP
SFT	-0.59	-0.63	0.86	-0.74		0.9	-0.34	0.55	0.84	0.12	SFT
LIV	-0.42	-0.58	0.91	-0.63	0.9		-0.25	0.65	0.8	0.11	LIV
0RR8	0.61	0.71	-0.28	0.58	-0.34	-0.25		-0.44	-0.14	-0.23	0RR8
DPA	-0.33	-0.7	0.66	-0.55	0.55	0.65	-0.44		0.42	0.69	DPA
MONY	-0.37	-0.48	0.84	-0.45	0.84	0.8	-0.14	0.42		0.06	MONY
ENQ	-0.13	-0.47	0.24	-0.23	0.12	0.11	-0.23	0.69	0.06		ENQ
	DLN	HMSO	SUPR	WKP	SFT	LIV	0RR8	DPA	MONY	ENQ

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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

LIV	+ 0.91	SUPR
LIV	+ 0.9	SFT
WKP	+ 0.86	DLN
SFT	+ 0.86	SUPR
MONY	+ 0.84	SUPR
MONY	+ 0.84	SFT

High negative correlations

SFT	- 0.74	WKP
DPA	- 0.7	HMSO
SUPR	- 0.66	HMSO
LIV	- 0.63	WKP
SFT	- 0.63	HMSO
SFT	- 0.59	DLN

Risk-Adjusted Indicators

There is a big difference between Picton Stock performing well and Picton Property 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 Picton Property'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
DLN	1.09	(0.09)	0.00	(1.10)	0.00	0.00	2.53	(2.15)	8.06
HMSO	1.23	(0.20)	0.00	(0.78)	0.00	0.00	2.53	(2.45)	9.22
SUPR	1.16	0.16	0.25	10.02	1.15	(1.40)	2.91	(1.86)	6.69
WKP	1.44	(0.20)	0.00	(1.94)	0.00	0.00	3.15	(3.57)	9.20
SFT	1.50	0.33	0.09	0.42	2.11	(3.16)	4.73	(3.33)	12.79
LIV	1.62	0.58	0.21	2.39	2.02	(2.06)	4.42	(3.19)	18.73
0RR8	1.85	0.03	0.00	(0.14)	0.00	0.00	3.07	(4.51)	10.18
DPA	2.04	0.95	0.44	(5.68)	0.00	(7.64)	10.00	(1.20)	17.65
MONY	1.20	0.04	0.00	(0.08)	0.00	0.00	2.12	(2.34)	7.39
ENQ	2.32	0.24	0.11	0.24	2.59	(2.98)	5.20	(4.83)	21.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Picton Property 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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