Relx PLC Correlations
| RLXXF Stock | USD 28.85 0.81 2.89% |
The current 90-days correlation between Relx PLC and Nippon Telegraph and is 0.26 (i.e., Modest diversification). The correlation of Relx PLC 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.
Relx PLC Correlation With Market
Very good diversification
The correlation between Relx PLC and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relx PLC and DJI in the same portfolio, assuming nothing else is changed.
Relx |
The ability to find closely correlated positions to Relx PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Relx PLC 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 Relx PLC - 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 Relx PLC to buy it.
Moving together with Relx Pink Sheet
| 0.98 | RELX | Relx PLC ADR Buyout Trend | PairCorr |
| 0.64 | IFPJF | Informa plc | PairCorr |
| 0.64 | PSO | Pearson PLC ADR | PairCorr |
| 0.88 | RVSN | Rail Vision | PairCorr |
Moving against Relx Pink Sheet
| 0.82 | KB | KB Financial Group | PairCorr |
| 0.89 | SHG | Shinhan Financial | PairCorr |
| 0.84 | CASH | Meta Financial Group | PairCorr |
| 0.78 | ANDE | Andersons Earnings Call This Week | PairCorr |
| 0.6 | ELVN | Enliven Therapeutics | PairCorr |
| 0.58 | TFLM | TFLM | PairCorr |
| 0.58 | THO | Thor Industries | PairCorr |
| 0.56 | RCKY | Rocky Brands | PairCorr |
| 0.45 | ALEEF | Alerio Gold Corp | PairCorr |
| 0.37 | CPCAY | Cathay Pacific Airways | PairCorr |
| 0.74 | MDLZ | Mondelez International | PairCorr |
| 0.68 | AROC | Archrock Symbol Change | PairCorr |
| 0.67 | OIA | Invesco Municipal Income | PairCorr |
| 0.53 | YLLXF | Yellow Cake plc | PairCorr |
| 0.45 | NTRS | Northern Trust | PairCorr |
| 0.41 | GRFS | Grifols SA ADR | PairCorr |
Related Correlations Analysis
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
|
Risk-Adjusted Indicators
There is a big difference between Relx Pink Sheet performing well and Relx PLC 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 Relx PLC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IDWM | 0.92 | (0.02) | 0.00 | 0.15 | 0.00 | 2.11 | 23.71 | |||
| NTTYY | 0.72 | 0.00 | (0.08) | 0.09 | 0.73 | 1.62 | 3.89 | |||
| NPPXF | 2.29 | 0.02 | (0.01) | 0.15 | 2.60 | 6.19 | 16.19 | |||
| SFBQF | 3.32 | 0.03 | (0.01) | (0.06) | 4.48 | 7.14 | 22.87 | |||
| SOBKY | 0.67 | (0.02) | 0.00 | 0.82 | 0.00 | 1.54 | 7.61 | |||
| KDDIY | 1.13 | 0.03 | (0.01) | 0.31 | 2.15 | 2.26 | 14.40 | |||
| KDDIF | 1.00 | (0.07) | 0.00 | (0.17) | 0.00 | 2.39 | 18.78 | |||
| SGAPY | 0.98 | 0.25 | 0.13 | (0.89) | 1.00 | 3.24 | 7.73 | |||
| SNGNF | 1.58 | 0.44 | 0.08 | (0.45) | 1.57 | 5.69 | 20.20 | |||
| SBBTF | 0.93 | (0.44) | 0.00 | (0.71) | 0.00 | 0.00 | 18.73 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Relx PLC 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.Did you try this?
Run Idea Breakdown Now
Idea BreakdownAnalyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |
| All Next | Launch Module |
Relx PLC Corporate Management
| Rosemary Thomson | Chief Officer | Profile | |
| Paul Abrahams | Head of Corporate Communications | Profile | |
| Henry Udow | Chief Legal Officer and Company Secretary | Profile | |
| Colin Tennant | Head of Investor Relations | Profile |