Premier Correlations

PMR Stock

18,070 270.00 1.52%

The current 90-days correlation between Premier Group and Hosken Consolidated Investments is -0.12 (i.e., Good diversification). The correlation of Premier 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.

Premier Correlation With Market

Poor diversification

The correlation between Premier Group and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Premier Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Premier Stock

0.9	GLN	Glencore PLC	Pair Corr
0.85	AGL	Anglo American PLC	Pair Corr
0.71	FSR	Firstrand	Pair Corr
0.88	GFI	Gold Fields	Pair Corr

Moving against Premier Stock

0.64	PRX	Prosus NV	Pair Corr
0.63	CFR	Compagnie Financire	Pair Corr
0.57	NPN	Naspers Limited	Pair Corr
0.49	SZK	Sab Zenzele Kabili	Pair Corr

Related Correlations Analysis

	DNB	FTH	SRI	AEL	KIO	DTC	EMH	HCI
DNB		-0.72	0.25	0.5	0.43	0.58	0.43	0.63	DNB
FTH	-0.72		-0.21	-0.54	-0.24	-0.67	-0.27	-0.48	FTH
SRI	0.25	-0.21		0.24	0.37	0.14	0.08	0.36	SRI
AEL	0.5	-0.54	0.24		0.46	0.81	0.06	0.62	AEL
KIO	0.43	-0.24	0.37	0.46		0.28	-0.15	0.78	KIO
DTC	0.58	-0.67	0.14	0.81	0.28		0.08	0.49	DTC
EMH	0.43	-0.27	0.08	0.06	-0.15	0.08		-0.01	EMH
HCI	0.63	-0.48	0.36	0.62	0.78	0.49	-0.01		HCI
	DNB	FTH	SRI	AEL	KIO	DTC	EMH	HCI

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

DTC	+ 0.81	AEL
HCI	+ 0.78	KIO
HCI	+ 0.63	DNB
HCI	+ 0.62	AEL
DTC	+ 0.58	DNB
AEL	+ 0.5	DNB

High negative correlations

FTH	- 0.72	DNB
DTC	- 0.67	FTH
AEL	- 0.54	FTH
HCI	- 0.48	FTH
EMH	- 0.27	FTH
KIO	- 0.24	FTH

Risk-Adjusted Indicators

There is a big difference between Premier Stock performing well and Premier 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 Premier'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
DNB	1.25	0.45	0.00	(1.03)	0.00	0.00	6.38	(0.38)	20.98
FTH	1.96	(0.10)	0.00	0.36	0.00	0.00	5.64	(5.80)	16.34
SRI	1.88	0.04	0.00	(0.24)	2.26	(1.92)	3.84	(3.39)	10.39
AEL	1.06	0.07	0.02	0.38	1.83	(1.06)	2.29	(1.90)	9.30
KIO	1.36	0.10	0.04	0.25	1.66	(1.34)	2.40	(2.66)	8.30
DTC	0.93	0.15	0.09	2.85	0.97	(0.94)	1.91	(1.75)	4.69
EMH	1.98	0.14	0.01	(0.18)	2.71	(3.74)	6.05	(6.67)	16.87
HCI	1.70	0.29	0.13	2.43	1.71	(1.93)	5.60	(3.60)	11.93

Premier 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 Premier stock to make a market-neutral strategy. Peer analysis of Premier could also be used in its relative valuation, which is a method of valuing Premier by comparing valuation metrics with similar companies.

Deneb Investments Frontier Transport Holdings Supermarket Income REIT Allied Electronics Kumba Iron Ore Datatec E Media Holdings Hosken Consolidated Investments American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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