PM Capital Correlations

PGF Stock

2.27 0.02 0.89%

The current 90-days correlation between PM Capital Global and National Australia Bank is -0.08 (i.e., Good diversification). The correlation of PM Capital 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.

PM Capital Correlation With Market

Modest diversification

The correlation between PM Capital Global and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PM Capital Global and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PGF Stock

0.76	WLE	Wam Leaders	Pair Corr
0.68	GVF	Staude Capital Global	Pair Corr

Moving against PGF Stock

0.71

IVT

Inventis

Pair Corr

Related Correlations Analysis

	NABPI	NABPF	WBCPM	NABPH	CBAPM	CBA	AN3PK	CBAPJ	NAB	AN3PI
NABPI		0.27	0.75	0.71	0.77	0.12	0.83	0.58	0.16	0.58	NABPI
NABPF	0.27		0.39	0.58	0.38	0.56	0.42	0.61	0.42	0.26	NABPF
WBCPM	0.75	0.39		0.75	0.9	0.25	0.89	0.41	0.24	0.34	WBCPM
NABPH	0.71	0.58	0.75		0.69	0.15	0.81	0.62	0.05	0.56	NABPH
CBAPM	0.77	0.38	0.9	0.69		0.3	0.88	0.42	0.33	0.28	CBAPM
CBA	0.12	0.56	0.25	0.15	0.3		0.3	0.45	0.93	0.05	CBA
AN3PK	0.83	0.42	0.89	0.81	0.88	0.3		0.6	0.33	0.42	AN3PK
CBAPJ	0.58	0.61	0.41	0.62	0.42	0.45	0.6		0.4	0.49	CBAPJ
NAB	0.16	0.42	0.24	0.05	0.33	0.93	0.33	0.4		-0.07	NAB
AN3PI	0.58	0.26	0.34	0.56	0.28	0.05	0.42	0.49	-0.07		AN3PI
	NABPI	NABPF	WBCPM	NABPH	CBAPM	CBA	AN3PK	CBAPJ	NAB	AN3PI

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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

NAB	+ 0.93	CBA
CBAPM	+ 0.9	WBCPM
AN3PK	+ 0.89	WBCPM
AN3PK	+ 0.88	CBAPM
AN3PK	+ 0.83	NABPI
AN3PK	+ 0.81	NABPH

High negative correlations

AN3PI

- 0.07

NAB

Risk-Adjusted Indicators

There is a big difference between PGF Stock performing well and PM Capital 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 PM Capital'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
NABPI	0.34	0.06	(0.13)	(0.06)	0.68	(0.31)	0.47	(0.62)	4.42
NABPF	0.20	0.00	(0.44)	(0.47)	0.25	(0.18)	0.38	(0.41)	0.94
WBCPM	0.32	0.04	(0.18)	(0.72)	0.40	(0.38)	0.80	(0.75)	3.22
NABPH	0.20	0.01	(0.48)	1.10	0.17	(0.24)	0.46	(0.36)	1.08
CBAPM	0.31	0.02	(0.20)	0.66	0.42	(0.32)	0.71	(0.71)	3.33
CBA	0.90	0.24	0.07	(1.88)	1.16	(0.92)	1.69	(2.23)	4.67
AN3PK	0.18	0.04	(0.31)	(0.60)	0.11	(0.18)	0.43	(0.42)	1.22
CBAPJ	0.29	0.03	(0.25)	(0.10)	0.37	(0.31)	0.56	(0.59)	2.02
NAB	0.90	0.15	0.02	20.41	1.20	(0.84)	1.59	(2.13)	5.25
AN3PI	0.36	0.03	(0.19)	0.01	0.61	(0.43)	0.71	(0.70)	4.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in PM Capital 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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