Rio Tinto Correlations

RTNTF Stock

USD 73.70 1.08 1.44%

The current 90-days correlation between Rio Tinto Group and BHP Group Limited is 0.06 (i.e., Significant diversification). The correlation of Rio Tinto 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.

Rio Tinto Correlation With Market

Good diversification

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

The ability to find closely correlated positions to Rio Tinto could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rio Tinto 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 Rio Tinto - 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 Rio Tinto Group to buy it.

Moving together with Rio Pink Sheet

0.76	BHPLF	BHP Group Limited	Pair Corr
0.9	BHP	BHP Group Limited	Pair Corr
0.82	RTPPF	Rio Tinto Group	Pair Corr
0.89	RIO	Rio Tinto ADR	Pair Corr
0.8	GLCNF	Glencore PLC	Pair Corr
0.81	GLNCY	Glencore PLC ADR	Pair Corr
0.65	BAC-PL	Bank of America	Pair Corr

Moving against Rio Pink Sheet

0.39	AMIX	Autonomix Medical, Common Trending	Pair Corr
0.39	GM	General Motors Aggressive Push	Pair Corr

Related Correlations Analysis

	AFBOF	SLVDF	BHPLF	DBLVF	AAUKF	BITTF	AVRTF	BBBMF	GLNCY	NGLOY
AFBOF		-0.26	-0.3	-0.45	0.11	0.35	-0.4	-0.43	-0.23	-0.08	AFBOF
SLVDF	-0.26		0.4	-0.13	0.4	0.46	0.0	0.59	0.13	0.53	SLVDF
BHPLF	-0.3	0.4		0.43	0.61	-0.12	0.08	0.71	0.68	0.73	BHPLF
DBLVF	-0.45	-0.13	0.43		0.12	-0.54	0.18	0.35	0.57	0.29	DBLVF
AAUKF	0.11	0.4	0.61	0.12		0.27	0.13	0.59	0.67	0.84	AAUKF
BITTF	0.35	0.46	-0.12	-0.54	0.27		-0.38	-0.05	-0.29	0.18	BITTF
AVRTF	-0.4	0.0	0.08	0.18	0.13	-0.38		0.21	0.42	0.11	AVRTF
BBBMF	-0.43	0.59	0.71	0.35	0.59	-0.05	0.21		0.5	0.63	BBBMF
GLNCY	-0.23	0.13	0.68	0.57	0.67	-0.29	0.42	0.5		0.8	GLNCY
NGLOY	-0.08	0.53	0.73	0.29	0.84	0.18	0.11	0.63	0.8		NGLOY
	AFBOF	SLVDF	BHPLF	DBLVF	AAUKF	BITTF	AVRTF	BBBMF	GLNCY	NGLOY

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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

NGLOY	+ 0.84	AAUKF
NGLOY	+ 0.8	GLNCY
NGLOY	+ 0.73	BHPLF
BBBMF	+ 0.71	BHPLF
GLNCY	+ 0.68	BHPLF
GLNCY	+ 0.67	AAUKF

High negative correlations

BITTF	- 0.54	DBLVF
DBLVF	- 0.45	AFBOF
BBBMF	- 0.43	AFBOF
AVRTF	- 0.4	AFBOF
AVRTF	- 0.38	BITTF
BHPLF	- 0.3	AFBOF

Risk-Adjusted Indicators

There is a big difference between Rio Pink Sheet performing well and Rio Tinto 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 Rio Tinto'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
AFBOF	4.92	0.20	0.02	0.28	6.96	(4.95)	8.32	(13.87)	28.91
SLVDF	4.69	0.49	0.03	(0.14)	4.90	(6.48)	10.34	(8.33)	27.27
BHPLF	3.87	0.11	0.02	0.23	4.76	(4.31)	8.41	(8.35)	23.92
DBLVF	3.59	0.11	0.00	0.02	0.00	0.00	11.11	(7.14)	28.29
AAUKF	1.35	0.08	(0.01)	(0.64)	1.92	(3.05)	3.66	(2.98)	20.87
BITTF	9.88	2.05	0.11	(0.91)	8.73	(29.03)	32.43	(20.57)	106.95
AVRTF	2.53	(1.50)	0.00	(0.72)	0.00	0.00	0.00	0.00	84.29
BBBMF	18.19	7.69	0.00	(4.96)	0.00	0.00	0.00	0.00	667.47
GLNCY	1.53	(0.07)	0.00	0.27	0.00	0.00	3.22	(4.20)	12.80
NGLOY	1.85	0.09	(0.02)	(0.19)	2.72	(1.81)	4.54	(4.62)	12.91

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Our tools can tell you how much better you can do entering a position in Rio Tinto 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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Rio Tinto Corporate Management

Bold Baatar	Chief Executive - Energy & Minerals	Profile
Mark Davies	Chief Officer	Profile
MS MS	CEO Director	Profile
BSc GAICD	Chief Ore	Profile
Menno Sanderse	Head Relations	Profile
Sinead Kaufman	Chief Minerals	Profile
Arnaud Soirat	Chief Executive - Copper & Diamonds	Profile

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