Sinovus Mining Correlations

SNVDelisted Stock

USD 50.05 0.00 0.00%

The current 90-days correlation between Sinovus Mining and Valley National Bancorp is -0.1 (i.e., Good diversification). The correlation of Sinovus Mining 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.

Sinovus Mining Correlation With Market

Poor diversification

The correlation between Sinovus Mining and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sinovus Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sinovus Stock

0.66	AAU	Antilles Gold	Pair Corr
0.75	WR1	Winsome Resources	Pair Corr
0.68	MPP	Metro Performance Glass	Pair Corr
0.85	RF1	Regal Investment	Pair Corr

Related Correlations Analysis

	VLY	PNFP	PB	COLB	FNB	BOKF	CBSH	CADE	OZK	BMA
VLY		0.83	0.79	0.95	0.95	0.93	0.85	0.85	0.89	0.81	VLY
PNFP	0.83		0.9	0.91	0.95	0.8	0.87	0.86	0.88	0.49	PNFP
PB	0.79	0.9		0.89	0.9	0.84	0.91	0.86	0.88	0.54	PB
COLB	0.95	0.91	0.89		0.98	0.91	0.9	0.84	0.95	0.68	COLB
FNB	0.95	0.95	0.9	0.98		0.89	0.91	0.88	0.93	0.67	FNB
BOKF	0.93	0.8	0.84	0.91	0.89		0.86	0.87	0.84	0.79	BOKF
CBSH	0.85	0.87	0.91	0.9	0.91	0.86		0.87	0.89	0.62	CBSH
CADE	0.85	0.86	0.86	0.84	0.88	0.87	0.87		0.81	0.68	CADE
OZK	0.89	0.88	0.88	0.95	0.93	0.84	0.89	0.81		0.64	OZK
BMA	0.81	0.49	0.54	0.68	0.67	0.79	0.62	0.68	0.64		BMA
	VLY	PNFP	PB	COLB	FNB	BOKF	CBSH	CADE	OZK	BMA

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Risk-Adjusted Indicators

There is a big difference between Sinovus Stock performing well and Sinovus Mining 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 Sinovus Mining'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
VLY	1.18	0.25	0.15	0.27	1.20	(1.27)	3.26	(2.20)	8.87
PNFP	1.24	0.21	0.12	0.24	1.46	(1.31)	3.19	(2.01)	8.67
PB	1.10	0.11	0.05	0.18	1.70	(1.18)	2.55	(1.37)	11.82
COLB	1.14	0.19	0.15	0.21	1.06	(1.37)	3.16	(1.69)	7.42
FNB	1.04	0.22	0.16	0.24	1.11	(1.20)	2.90	(2.05)	8.60
BOKF	1.04	0.30	0.26	0.36	0.77	(1.30)	3.17	(1.22)	7.41
CBSH	0.95	0.09	0.06	0.17	1.15	(1.08)	2.40	(2.03)	6.30
CADE	1.20	0.17	0.08	0.91	1.49	(1.31)	3.30	(2.25)	10.36
OZK	1.05	0.10	0.07	0.14	1.17	(1.11)	2.43	(2.13)	7.47
BMA	2.19	0.21	0.13	0.20	1.64	(3.16)	6.62	(3.17)	10.99

Sinovus Mining Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sinovus Mining stock to make a market-neutral strategy. Peer analysis of Sinovus Mining could also be used in its relative valuation, which is a method of valuing Sinovus Mining by comparing valuation metrics with similar companies.

Valley National Bancorp Pinnacle Financial Partners Prosperity Bancshares Columbia Banking System FNB Corp BOK Financial Commerce Bancshares Cadence Bancorp Bank Ozk Banco Macro SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Still Interested in Sinovus Mining?

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