Reading International Correlations

RDIB Stock

USD 6.70 0.29 4.52%

The current 90-days correlation between Reading International and ADTRAN Inc is 0.1 (i.e., Average diversification). The correlation of Reading International 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.

Reading International Correlation With Market

Significant diversification

The correlation between Reading International B and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Reading International B and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Reading International B. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For information on how to trade Reading Stock refer to our How to Trade Reading Stock guide.

Moving together with Reading Stock

0.64	DLPN	Dolphin Entertainment	Pair Corr
0.79	EVER	EverQuote Class A	Pair Corr
0.76	BATRA	Atlanta Braves Holdings,	Pair Corr
0.68	BATRK	Atlanta Braves Holdings,	Pair Corr

Moving against Reading Stock

0.88	EDR	Endeavor Group Holdings	Pair Corr
0.78	VEON	VEON	Pair Corr
0.77	T	ATT Inc Aggressive Push	Pair Corr
0.62	WB	Weibo Corp	Pair Corr
0.57	Z	Zillow Group Class	Pair Corr
0.57	ZG	Zillow Group	Pair Corr
0.55	TV	Grupo Televisa SAB	Pair Corr
0.54	CURIW	CuriosityStream	Pair Corr
0.54	KT	KT Corporation	Pair Corr
0.5	CNK	Cinemark Holdings	Pair Corr
0.46	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr
0.4	EA	Electronic Arts	Pair Corr
0.4	ANGHW	Anghami Warrants	Pair Corr
0.37	EMMS	Emmis Communications Corp	Pair Corr
0.35	VSME	VS Media Holdings	Pair Corr
0.34	IQ	iQIYI Inc	Pair Corr
0.67	FOXA	Fox Corp Class	Pair Corr
0.66	DIS	Walt Disney Aggressive Push	Pair Corr
0.6	CHR	Cheer Holding	Pair Corr
0.52	BOC	Boston Omaha Corp	Pair Corr
0.44	FLNT	Fluent Inc	Pair Corr
0.39	DDI	Doubledown Interactive	Pair Corr

Related Correlations Analysis

	ADTN	BDC	ADCT	CMTL	CTS
ADTN		0.73	-0.57	-0.35	0.84	ADTN
BDC	0.73		-0.07	0.14	0.72	BDC
ADCT	-0.57	-0.07		0.41	-0.32	ADCT
CMTL	-0.35	0.14	0.41		-0.5	CMTL
CTS	0.84	0.72	-0.32	-0.5		CTS
	ADTN	BDC	ADCT	CMTL	CTS

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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

CTS	+ 0.84	ADTN
BDC	+ 0.73	ADTN
CTS	+ 0.72	BDC
CMTL	+ 0.41	ADCT
CMTL	+ 0.14	BDC

High negative correlations

ADCT	- 0.57	ADTN
CTS	- 0.5	CMTL
CMTL	- 0.35	ADTN
CTS	- 0.32	ADCT
ADCT	- 0.07	BDC

Risk-Adjusted Indicators

There is a big difference between Reading Stock performing well and Reading International 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 Reading International'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
ADTN	2.41	0.58	0.32	0.46	1.59	(2.98)	6.31	(3.34)	22.03
BDC	1.43	0.00	0.08	0.12	1.57	(1.58)	2.85	(2.64)	13.52
ADCT	3.51	(0.74)	0.00	(0.17)	0.00	0.00	6.98	(7.81)	22.87
CMTL	4.44	0.03	0.02	0.14	6.36	(4.96)	12.63	(7.40)	40.77
CTS	1.56	(0.07)	0.05	0.09	1.65	(1.78)	3.28	(2.79)	15.09

Reading International Corporate Executives

Elected by the shareholders, the Reading International's board of directors comprises two types of representatives: Reading International inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Reading. The board's role is to monitor Reading International's management team and ensure that shareholders' interests are well served. Reading International's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Reading International's outside directors are responsible for providing unbiased perspectives on the board's policies.

Gilbert Avanes

Interim CFO and Treasurer

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