Prospect Resources Correlations

Stocks . Australia . 
Stock . Prospect Resources
PSC Stock   0.36  0.01  2.86%   
The current 90-days correlation between Prospect Resources and Northern Star Resources is -0.22 (i.e., Very good diversification). The correlation of Prospect Resources 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.

Prospect Resources Correlation With Market

Average diversification

The correlation between Prospect Resources and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prospect Resources and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Prospect Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prospect Resources 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 Prospect Resources - 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 Prospect Resources to buy it.

Moving together with Prospect Stock

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Moving against Prospect Stock

  0.49REG Regis HealthcarePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Prospect Stock performing well and Prospect Resources 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 Prospect Resources' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Prospect Resources 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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Prospect Resources Corporate Management

Elected by the shareholders, the Prospect Resources' board of directors comprises two types of representatives: Prospect Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Prospect. The board's role is to monitor Prospect Resources' management team and ensure that shareholders' interests are well served. Prospect Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Prospect Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.
Duncan GreavesConsultantProfile
Harry MillerJoint SecretaryProfile
John MaketoTechnical ManagerProfile
Roger TylerChief GeologistProfile
David BroomfieldCorporate ManagerProfile
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