| RJIB Stock | | | EUR 0.72 0.02 2.86% |
The current 90-days correlation between Rock Tech Lithium and Mineral Resources Limited is -0.13 (i.e., Good diversification). The correlation of Rock Tech 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.
Rock Tech Correlation With Market
Significant diversification
The correlation between Rock Tech Lithium 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 Rock Tech Lithium and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Rock Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rock Tech 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 Rock Tech - 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 Rock Tech Lithium to buy it.
Moving against Rock Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Rock Stock performing well and Rock Tech 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 Rock Tech'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.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Rock Tech 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.
| | Global CorrelationsFind global opportunities by holding instruments from different markets |
Rock Tech Corporate Management
Elected by the shareholders, the Rock Tech's board of directors comprises two types of representatives: Rock Tech inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Rock. The board's role is to monitor Rock Tech's management team and ensure that shareholders' interests are well served. Rock Tech'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, Rock Tech's outside directors are responsible for providing unbiased perspectives on the board's policies.