PPC Correlations
| PPC Stock | 659.00 10.00 1.54% |
The current 90-days correlation between PPC and Zeder Investments is 0.1 (i.e., Average diversification). The correlation of PPC 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.
PPC Correlation With Market
Poor diversification
The correlation between PPC and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PPC and DJI in the same portfolio, assuming nothing else is changed.
PPC |
The ability to find closely correlated positions to PPC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PPC 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 PPC - 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 PPC to buy it.
Moving together with PPC Stock
| 0.89 | GLN | Glencore PLC | PairCorr |
| 0.95 | AGL | Anglo American PLC | PairCorr |
| 0.88 | FSR | Firstrand Earnings Call This Week | PairCorr |
| 0.9 | ABG | Absa Group | PairCorr |
| 0.62 | FBR | Famous Brands | PairCorr |
| 0.82 | DSY | Discovery Holdings Earnings Call This Week | PairCorr |
| 0.62 | SSW | Sibanye Stillwater | PairCorr |
| 0.71 | IMP | Impala Platinum Holdings Earnings Call This Week | PairCorr |
| 0.68 | SRI | Supermarket Income REIT | PairCorr |
| 0.78 | CPR | Copper 360 | PairCorr |
| 0.74 | HCI | Hosken Consolidated | PairCorr |
| 0.76 | KIO | Kumba Iron Ore | PairCorr |
| 0.62 | ANI | Afine Investments | PairCorr |
| 0.78 | ARA | Astoria Investments | PairCorr |
| 0.79 | MDI | Master Drilling Group | PairCorr |
| 0.76 | TLM | Telemasters Holdings | PairCorr |
| 0.86 | SAC | SA Corporate Real | PairCorr |
| 0.88 | BRT | Brimstone Investment Earnings Call Tomorrow | PairCorr |
| 0.76 | NPH | Northam Platinum Holdings | PairCorr |
| 0.73 | CAT | Caxton Earnings Call Tomorrow | PairCorr |
| 0.93 | BHG | BHP Group Limited | PairCorr |
| 0.88 | ANG | AngloGold Ashanti | PairCorr |
| 0.8 | PHP | Primary Health Prop Earnings Call Tomorrow | PairCorr |
| 0.89 | NY1 | Ninety One | PairCorr |
| 0.96 | RBX | Raubex | PairCorr |
Moving against PPC Stock
| 0.94 | PRX | Prosus NV | PairCorr |
| 0.88 | NPN | Naspers Limited | PairCorr |
| 0.78 | CFR | Compagnie Financire | PairCorr |
| 0.65 | TBS | Tiger Brands | PairCorr |
| 0.34 | SZK | Sab Zenzele Kabili | PairCorr |
| 0.45 | CLH | City Lodge Hotels | PairCorr |
Related Correlations Analysis
| -0.36 | 0.12 | -0.43 | -0.07 | 0.65 | 0.0 | CLH | ||
| -0.36 | 0.29 | 0.58 | 0.28 | -0.55 | 0.04 | QFH | ||
| 0.12 | 0.29 | 0.6 | 0.67 | -0.54 | 0.24 | ARL | ||
| -0.43 | 0.58 | 0.6 | 0.56 | -0.8 | 0.29 | ADH | ||
| -0.07 | 0.28 | 0.67 | 0.56 | -0.51 | 0.13 | ANI | ||
| 0.65 | -0.55 | -0.54 | -0.8 | -0.51 | -0.29 | BYI | ||
| 0.0 | 0.04 | 0.24 | 0.29 | 0.13 | -0.29 | ZED | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between PPC Stock performing well and PPC 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 PPC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CLH | 1.20 | (0.06) | 0.00 | (1.66) | 0.00 | 2.80 | 7.16 | |||
| QFH | 2.92 | 0.40 | 0.03 | (0.11) | 3.81 | 9.75 | 28.62 | |||
| ARL | 1.01 | 0.13 | 0.04 | 5.65 | 1.14 | 2.35 | 8.93 | |||
| ADH | 0.77 | 0.15 | 0.07 | (4.01) | 0.76 | 1.84 | 5.11 | |||
| ANI | 1.65 | 0.27 | 0.00 | 0.26 | 0.00 | 7.73 | 37.68 | |||
| BYI | 1.37 | (0.28) | 0.00 | (2.55) | 0.00 | 2.36 | 8.52 | |||
| ZED | 2.19 | (0.02) | 0.00 | 1.12 | 0.00 | 4.00 | 24.93 |
PPC 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 PPC stock to make a market-neutral strategy. Peer analysis of PPC could also be used in its relative valuation, which is a method of valuing PPC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |