Afrimat Correlations

Stocks . South Africa . 
Stock . Afrimat
AFT Stock   6,005  55.00  0.91%   
The current 90-days correlation between Afrimat and Frontier Transport Holdings is 0.09 (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

Good diversification

The correlation between Afrimat and DJI is -0.06 (i.e., Good 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 against Afrimat Stock

  0.75BID Bid CorporationPairCorr
  0.67KIO Kumba Iron OrePairCorr
  0.65BTI British American TobaccoPairCorr
  0.5AMS Anglo American PlatinumPairCorr
  0.47ISA ISA HoldingsPairCorr

Related Correlations Analysis

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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   
MCZ
+ 0.56
CAA
BYI
+ 0.55
HAR
MCZ
+ 0.5
FTH
MCZ
+ 0.37
ASC
FTH
+ 0.34
ASC
MCZ
+ 0.29
HIL
  
High negative correlations   
MCZ
- 0.8
HAR
BYI
- 0.61
ASC
CAA
- 0.53
HAR
HIL
- 0.38
HAR
MCZ
- 0.36
BYI
BYI
- 0.34
FTH

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.

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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