Tower Correlations

Stocks . Australia . 
Stock . Tower
TWR Stock   1.75  0.04  2.23%   
The current 90-days correlation between Tower and Imricor Medical Systems is 0.08 (i.e., Significant diversification). The correlation of Tower 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.

Tower Correlation With Market

Average diversification

The correlation between Tower and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tower and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Tower could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tower 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 Tower - 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 Tower to buy it.

Moving together with Tower Stock

  0.66RIO RIO TintoPairCorr
  0.67LNW Light WonderPairCorr
  0.64AAI AlcoaPairCorr
  0.72CBAPJ Commonwealth BankPairCorr
  0.8LTR Liontown ResourcesPairCorr
  0.65SDV ScidevPairCorr
  0.87PMC Platinum CapitalPairCorr
  0.76NGI Navigator Global InvPairCorr
  0.63ABY Adore Beauty GroupPairCorr
  0.66BPM BPM MineralsPairCorr
  0.74REH ReecePairCorr
  0.67MQGPE Macquarie GroupPairCorr
  0.69CINPA Carlton InvestmentsPairCorr
  0.83PLS Pilbara MineralsPairCorr
  0.82EVZ EVZPairCorr
  0.7CGF ChallengerPairCorr
  0.68MBH Maggie Beer HoldingsPairCorr
  0.79FNX Finexia FinancialPairCorr
  0.79VAUDA Ordinary Fully Paid SplitPairCorr
  0.67WGR Western Gold ResourcesPairCorr

Moving against Tower Stock

  0.63XYZ Block, IncPairCorr
  0.58CSL CSLPairCorr
  0.55MQG Macquarie GroupPairCorr
  0.52CBA Commonwealth BankPairCorr
  0.64MTL Mantle MineralsPairCorr

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

MBH
+ 0.79
RFG
AIZ
+ 0.32
SUL
EMV
+ 0.32
SUL
EMV
+ 0.26
AIZ
SUL
+ 0.2
IMR
EMV
+ 0.1
IMR
  

High negative correlations

RFG
- 0.51
SUL
MBH
- 0.51
IMR
RFG
- 0.49
IMR
EMV
- 0.3
MBH
EMV
- 0.3
RFG
AIZ
- 0.3
RFG

Risk-Adjusted Indicators

There is a big difference between Tower Stock performing well and Tower 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 Tower'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 Tower 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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Tower Corporate Management

Elected by the shareholders, the Tower's board of directors comprises two types of representatives: Tower inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tower. The board's role is to monitor Tower's management team and ensure that shareholders' interests are well served. Tower'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, Tower's outside directors are responsible for providing unbiased perspectives on the board's policies.
Ronald MudaliarChief OfficerProfile
James BrownellActing OfficerProfile
Blair TurnbullChief OfficerProfile
Paula BrakeMD PacificProfile
Johannah BentonActing OfficerProfile
Liz CawsonInterim OfficerProfile
Steve WilsonChief OfficerProfile
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