Afrimat Correlations

AFT Stock

6,228 7.00 0.11%

The current 90-days correlation between Afrimat and DRDGOLD Limited is 0.08 (i.e., Significant diversification). The correlation of Afrimat 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.

Afrimat Correlation With Market

Significant diversification

The correlation between Afrimat and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Afrimat and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Afrimat Stock

0.84	RMH	RMB Holdings	Pair Corr
0.84	FFB	Fortress Income	Pair Corr
0.68	TRE	Trencor Earnings Call This Week	Pair Corr
0.72	AYO	Ayo Technology Solutions	Pair Corr
0.61	TGA	Thungela Resources	Pair Corr
0.66	RDF	Redefine Properties	Pair Corr
0.72	HLM	Hulamin	Pair Corr

Moving against Afrimat Stock

0.87	ANG	AngloGold Ashanti	Pair Corr
0.8	HAR	Harmony Gold Mining	Pair Corr
0.77	DRD	DRDGOLD Limited	Pair Corr
0.76	EXP	Exemplar REITail	Pair Corr
0.75	BTI	British American Tobacco	Pair Corr
0.74	RTN	Rex Trueform Group Earnings Call This Week	Pair Corr
0.68	TRL	Trellidor Holdings	Pair Corr
0.62	JSE	JSE Limited	Pair Corr
0.6	ISA	ISA Holdings	Pair Corr
0.54	AMS	Anglo American Platinum	Pair Corr
0.5	WEZ	Wesizwe Earnings Call This Week	Pair Corr
0.34	PAN	Pan African Resources	Pair Corr

Related Correlations Analysis

	AFT	DRD	BTI	RTN	AFE	AMS	HAR	JSE	AIL	ISA
AFT		-0.77	-0.75	-0.74	-0.22	-0.54	-0.8	-0.62	0.55	-0.6	AFT
DRD	-0.77		0.72	0.48	0.6	0.74	0.75	0.8	-0.49	0.41	DRD
BTI	-0.75	0.72		0.59	0.15	0.61	0.82	0.54	-0.43	0.48	BTI
RTN	-0.74	0.48	0.59		-0.09	0.35	0.74	0.35	-0.54	0.55	RTN
AFE	-0.22	0.6	0.15	-0.09		0.2	0.0	0.68	-0.22	-0.2	AFE
AMS	-0.54	0.74	0.61	0.35	0.2		0.76	0.46	-0.38	0.54	AMS
HAR	-0.8	0.75	0.82	0.74	0.0	0.76		0.48	-0.59	0.7	HAR
JSE	-0.62	0.8	0.54	0.35	0.68	0.46	0.48		-0.57	0.12	JSE
AIL	0.55	-0.49	-0.43	-0.54	-0.22	-0.38	-0.59	-0.57		-0.41	AIL
ISA	-0.6	0.41	0.48	0.55	-0.2	0.54	0.7	0.12	-0.41		ISA
	AFT	DRD	BTI	RTN	AFE	AMS	HAR	JSE	AIL	ISA

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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

HAR	+ 0.82	BTI
JSE	+ 0.8	DRD
HAR	+ 0.76	AMS
HAR	+ 0.75	DRD
AMS	+ 0.74	DRD
HAR	+ 0.74	RTN

High negative correlations

HAR	- 0.8	AFT
DRD	- 0.77	AFT
BTI	- 0.75	AFT
RTN	- 0.74	AFT
JSE	- 0.62	AFT
ISA	- 0.6	AFT

Risk-Adjusted Indicators

There is a big difference between Afrimat Stock performing well and Afrimat 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 Afrimat'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
AFT	1.16	(0.18)	0.00	(1.51)	0.00	0.00	2.76	(2.72)	8.49
DRD	2.23	0.48	0.24	(0.93)	2.34	(2.47)	5.20	(3.61)	13.78
BTI	0.94	0.20	0.13	1.90	1.84	(0.89)	1.71	(1.82)	14.66
RTN	1.58	0.34	0.00	0.97	0.00	0.00	0.00	(0.07)	34.42
AFE	1.18	0.13	0.16	(1.01)	1.25	(1.32)	2.15	(2.31)	9.69
AMS	2.19	0.23	0.11	(1.09)	2.75	(2.06)	4.97	(4.73)	10.91
HAR	2.11	0.44	0.24	3.99	1.92	(2.52)	5.92	(3.51)	11.26
JSE	1.06	0.06	0.11	0.22	1.13	(1.18)	2.24	(1.77)	5.81
AIL	1.71	0.21	0.18	(4.08)	1.54	(2.24)	3.83	(3.13)	13.98
ISA	1.07	0.05	0.04	0.43	1.47	(2.58)	3.70	(3.09)	10.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Afrimat 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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