NEW MILLENNIUM Correlations
| 36N Stock | EUR 7.95 0.55 7.43% |
The current 90-days correlation between NEW MILLENNIUM IRON and Apple Inc is -0.16 (i.e., Good diversification). The correlation of NEW MILLENNIUM 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.
NEW MILLENNIUM Correlation With Market
Modest diversification
The correlation between NEW MILLENNIUM IRON and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEW MILLENNIUM IRON and DJI in the same portfolio, assuming nothing else is changed.
NEW |
The ability to find closely correlated positions to NEW MILLENNIUM could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEW MILLENNIUM 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 NEW MILLENNIUM - 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 NEW MILLENNIUM IRON to buy it.
Moving against NEW Stock
| 0.5 | BZG2 | BANK CENTRAL ASIA | PairCorr |
| 0.46 | BZG2 | BANK CENTRAL ASIA | PairCorr |
| 0.45 | BYRA | BANK RAKYAT IND | PairCorr |
| 0.43 | PQ9 | BANK MANDIRI | PairCorr |
| 0.41 | BYRA | PT Bank Rakyat | PairCorr |
| 0.39 | PQ9 | BANK MANDIRI | PairCorr |
| 0.31 | BYRA | BANK RAKYAT IND | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between NEW Stock performing well and NEW MILLENNIUM 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 NEW MILLENNIUM'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APC | 0.94 | 0.22 | 0.14 | 2.26 | 1.18 | 2.22 | 6.45 | |||
| APC | 0.93 | 0.22 | 0.16 | (1.70) | 1.02 | 1.81 | 5.21 | |||
| APC | 0.90 | 0.22 | 0.16 | (1.89) | 1.12 | 1.88 | 6.46 | |||
| APC | 0.99 | 0.22 | 0.18 | (0.85) | 0.89 | 2.83 | 5.24 | |||
| MSF | 1.03 | 0.11 | 0.06 | (0.77) | 1.51 | 2.42 | 11.42 | |||
| MSF | 1.02 | 0.10 | 0.06 | (0.52) | 1.39 | 2.35 | 9.11 | |||
| MSF | 0.90 | 0.10 | 0.05 | (1.00) | 1.34 | 2.04 | 8.79 | |||
| MSF | 0.96 | 0.10 | 0.06 | (1.29) | 1.29 | 2.55 | 8.71 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NEW MILLENNIUM 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 USA ETFs Now
USA ETFsFind actively traded Exchange Traded Funds (ETF) in USA |
| All Next | Launch Module |
NEW MILLENNIUM Corporate Executives
Elected by the shareholders, the NEW MILLENNIUM's board of directors comprises two types of representatives: NEW MILLENNIUM inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NEW. The board's role is to monitor NEW MILLENNIUM's management team and ensure that shareholders' interests are well served. NEW MILLENNIUM'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, NEW MILLENNIUM's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Robert Boisjoli | Chief Financial Officer | Profile |