Whitehaven Coal Correlations

WHITF Stock

USD 4.37 0.10 2.24%

The current 90-days correlation between Whitehaven Coal and Exxaro Resources Limited is -0.21 (i.e., Very good diversification). The correlation of Whitehaven Coal 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.

Whitehaven Coal Correlation With Market

Modest diversification

The correlation between Whitehaven Coal Limited and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Whitehaven Coal Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Whitehaven Pink Sheet

0.89	CSUAY	China Shenhua Energy	Pair Corr
0.86	YZCAY	Yanzhou Coal Mining	Pair Corr
0.7	CCOZY	China Coal Energy	Pair Corr
0.64	YACAF	Yancoal Australia	Pair Corr
0.67	IRDM	Iridium Communications	Pair Corr

Moving against Whitehaven Pink Sheet

0.71	EPGG	Empire Global Gaming	Pair Corr
0.36	TPDDF	Talon Energy	Pair Corr
0.41	AXSM	Axsome Therapeutics	Pair Corr

Related Correlations Analysis

	EXXAF	NHPEF	ADOOY	TNGRF	YACAF	CCOZF	CCOZY	TBNGY	PADEF	ITAYY
EXXAF		-0.48	0.1	-0.64	-0.58	-0.59	-0.51	-0.18	0.52	0.48	EXXAF
NHPEF	-0.48		0.03	0.52	0.78	0.29	0.74	0.67	-0.63	-0.38	NHPEF
ADOOY	0.1	0.03		-0.41	0.06	-0.18	0.14	0.2	-0.03	0.0	ADOOY
TNGRF	-0.64	0.52	-0.41		0.69	0.71	0.43	0.27	-0.31	-0.53	TNGRF
YACAF	-0.58	0.78	0.06	0.69		0.66	0.79	0.68	-0.51	-0.62	YACAF
CCOZF	-0.59	0.29	-0.18	0.71	0.66		0.35	0.12	-0.1	-0.69	CCOZF
CCOZY	-0.51	0.74	0.14	0.43	0.79	0.35		0.78	-0.71	-0.42	CCOZY
TBNGY	-0.18	0.67	0.2	0.27	0.68	0.12	0.78		-0.47	-0.19	TBNGY
PADEF	0.52	-0.63	-0.03	-0.31	-0.51	-0.1	-0.71	-0.47		0.34	PADEF
ITAYY	0.48	-0.38	0.0	-0.53	-0.62	-0.69	-0.42	-0.19	0.34		ITAYY
	EXXAF	NHPEF	ADOOY	TNGRF	YACAF	CCOZF	CCOZY	TBNGY	PADEF	ITAYY

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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

CCOZY	+ 0.79	YACAF
YACAF	+ 0.78	NHPEF
TBNGY	+ 0.78	CCOZY
CCOZY	+ 0.74	NHPEF
CCOZF	+ 0.71	TNGRF
YACAF	+ 0.69	TNGRF

High negative correlations

PADEF	- 0.71	CCOZY
ITAYY	- 0.69	CCOZF
TNGRF	- 0.64	EXXAF
PADEF	- 0.63	NHPEF
ITAYY	- 0.62	YACAF
CCOZF	- 0.59	EXXAF

Risk-Adjusted Indicators

There is a big difference between Whitehaven Pink Sheet performing well and Whitehaven Coal 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 Whitehaven Coal'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
EXXAF	5.45	0.23	0.01	(0.79)	8.37	(4.92)	13.51	(14.13)	36.08
NHPEF	3.92	0.14	0.00	(0.32)	4.90	(6.59)	11.46	(9.97)	25.47
ADOOY	2.15	0.11	(0.01)	(0.68)	2.33	(4.83)	5.94	(5.17)	24.68
TNGRF	2.24	0.07	0.00	0.28	3.18	(2.61)	5.02	(5.89)	15.95
YACAF	1.80	0.10	0.03	0.28	1.88	(2.48)	4.44	(3.94)	12.11
CCOZF	2.60	0.86	0.08	(0.96)	2.43	(7.92)	8.45	(5.41)	42.56
CCOZY	2.78	0.45	0.04	(0.46)	3.42	(4.95)	9.20	(5.22)	28.83
TBNGY	0.53	0.11	0.00	1.49	0.00	0.00	0.00	(0.23)	19.98
PADEF	8.27	0.95	0.07	0.80	10.44	(10.54)	16.67	(14.29)	42.40
ITAYY	1.14	(0.18)	0.00	(1.79)	0.00	0.00	1.51	(5.49)	17.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Whitehaven Coal 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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Whitehaven Coal Corporate Management

BCom BComm	CEO MD	Profile
Michael BA	Gov Corp	Profile
Ian BE	Exec Operations	Profile
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Daniel BCom	Exec Culture	Profile
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