Vicinity Centres Correlations
| VCX Stock | 2.14 0.02 0.93% |
The current 90-days correlation between Vicinity Centres and Scentre Group is 0.74 (i.e., Poor diversification). The correlation of Vicinity Centres 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.
Vicinity Centres Correlation With Market
Good diversification
The correlation between Vicinity Centres Re and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vicinity Centres Re and DJI in the same portfolio, assuming nothing else is changed.
Vicinity |
The ability to find closely correlated positions to Vicinity Centres could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Vicinity Centres 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 Vicinity Centres - 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 Vicinity Centres Re to buy it.
Moving together with Vicinity Stock
| 0.63 | SCG | Scentre Group | PairCorr |
| 0.88 | CQR | Charter Hall Retail | PairCorr |
| 0.7 | CMW | Cromwell Property | PairCorr |
| 0.73 | GDI | GDI Property Group | PairCorr |
Moving against Vicinity Stock
| 0.67 | DSE | Dropsuite | PairCorr |
| 0.57 | CBA | Commonwealth Bank | PairCorr |
| 0.46 | CBAPG | Commonwealth Bank | PairCorr |
| 0.44 | QBE | Qbe Insurance Group | PairCorr |
| 0.41 | TLS | Telstra | PairCorr |
| 0.4 | CDP | Carindale Property Trust | PairCorr |
| 0.67 | QAN | Qantas Airways | PairCorr |
| 0.62 | TLX | Telix Pharmaceuticals | PairCorr |
| 0.54 | SXL | Southern Cross Media | PairCorr |
| 0.52 | PNI | Pinnacle Investment | PairCorr |
| 0.47 | AVM | Advance Metals | PairCorr |
| 0.32 | MAQ | Macquarie Technology | PairCorr |
Related Correlations Analysis
| 0.63 | 0.43 | 0.1 | -0.25 | 0.13 | -0.39 | SCG | ||
| 0.63 | 0.88 | 0.7 | -0.4 | 0.73 | 0.37 | VCX | ||
| 0.43 | 0.88 | 0.6 | -0.5 | 0.73 | 0.49 | CQR | ||
| 0.1 | 0.7 | 0.6 | -0.24 | 0.76 | 0.71 | CMW | ||
| -0.25 | -0.4 | -0.5 | -0.24 | -0.47 | -0.27 | CDP | ||
| 0.13 | 0.73 | 0.73 | 0.76 | -0.47 | 0.64 | GDI | ||
| -0.39 | 0.37 | 0.49 | 0.71 | -0.27 | 0.64 | AOF | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Vicinity Stock performing well and Vicinity Centres 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 Vicinity Centres' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCG | 0.77 | 0.00 | 0.00 | (0.01) | 0.98 | 1.75 | 4.80 | |||
| VCX | 0.80 | (0.06) | 0.00 | 0.57 | 0.00 | 1.44 | 4.21 | |||
| CQR | 0.84 | (0.12) | 0.00 | 1.31 | 0.00 | 1.23 | 3.53 | |||
| CMW | 1.99 | (0.01) | 0.00 | 0.01 | 2.30 | 2.70 | 21.21 | |||
| CDP | 0.89 | 0.03 | 0.02 | (0.25) | 1.06 | 2.01 | 6.33 | |||
| GDI | 0.62 | (0.11) | 0.00 | 5.85 | 0.00 | 1.79 | 4.98 | |||
| AOF | 0.40 | (0.05) | 0.00 | 0.20 | 0.00 | 0.93 | 6.25 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Vicinity Centres 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 My Watchlist Analysis Now
My Watchlist AnalysisAnalyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |
| All Next | Launch Module |
Vicinity Centres Corporate Management
Elected by the shareholders, the Vicinity Centres' board of directors comprises two types of representatives: Vicinity Centres inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Vicinity. The board's role is to monitor Vicinity Centres' management team and ensure that shareholders' interests are well served. Vicinity Centres' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Vicinity Centres' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Adrian Chye | Chief Officer | Profile | |
| BA BA | Chief Officer | Profile | |
| Peter Huddle | COO CEO | Profile | |
| LLB B | ESG Officer | Profile | |
| Jane Kenny | General Relations | Profile | |
| Tanya Southey | Chief Officer | Profile |