Absa Group Correlations

AGRPY Stock

USD 22.17 0.09 0.40%

The current 90-days correlation between Absa Group and Barloworld Ltd ADR is -0.16 (i.e., Good diversification). The correlation of Absa Group 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.

Absa Group Correlation With Market

Good diversification

The correlation between Absa Group Ltd and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absa Group Ltd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Absa Pink Sheet

0.61	MSFT	Microsoft	Pair Corr
0.65	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Moving against Absa Pink Sheet

0.46	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.45	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	FDVA	444859BR2	BRRAY	MSTSX	LBHIX	VIASP	XTWO	KNF	70082LAB3	AMPL
FDVA		0.0	0.13	0.44	0.52	-0.1	0.38	0.03	-0.11	-0.08	FDVA
444859BR2	0.0		-0.01	-0.3	-0.27	-0.3	0.17	-0.43	-0.18	-0.32	444859BR2
BRRAY	0.13	-0.01		0.07	0.29	0.44	-0.09	0.46	0.43	0.14	BRRAY
MSTSX	0.44	-0.3	0.07		0.55	0.02	-0.01	0.39	0.15	0.41	MSTSX
LBHIX	0.52	-0.27	0.29	0.55		0.51	0.13	0.59	0.4	0.39	LBHIX
VIASP	-0.1	-0.3	0.44	0.02	0.51		-0.26	0.79	0.72	0.28	VIASP
XTWO	0.38	0.17	-0.09	-0.01	0.13	-0.26		-0.39	-0.65	-0.02	XTWO
KNF	0.03	-0.43	0.46	0.39	0.59	0.79	-0.39		0.83	0.36	KNF
70082LAB3	-0.11	-0.18	0.43	0.15	0.4	0.72	-0.65	0.83		0.2	70082LAB3
AMPL	-0.08	-0.32	0.14	0.41	0.39	0.28	-0.02	0.36	0.2		AMPL
	FDVA	444859BR2	BRRAY	MSTSX	LBHIX	VIASP	XTWO	KNF	70082LAB3	AMPL

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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

70082LAB3	+ 0.83	KNF
KNF	+ 0.79	VIASP
70082LAB3	+ 0.72	VIASP
KNF	+ 0.59	LBHIX
LBHIX	+ 0.55	MSTSX
LBHIX	+ 0.52	FDVA

High negative correlations

70082LAB3	- 0.65	XTWO
KNF	- 0.43	444859BR2
KNF	- 0.39	XTWO
AMPL	- 0.32	444859BR2
VIASP	- 0.3	444859BR2
MSTSX	- 0.3	444859BR2

Risk-Adjusted Indicators

There is a big difference between Absa Pink Sheet performing well and Absa Group 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 Absa Group'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
FDVA	0.69	0.03	(0.03)	0.29	0.97	(0.94)	2.24	(1.40)	6.68
444859BR2	1.37	(0.03)	0.00	0.33	0.00	0.00	5.93	(5.01)	16.62
BRRAY	1.90	0.39	0.00	0.54	0.00	0.00	0.00	0.00	36.64
MSTSX	0.45	(0.01)	(0.09)	0.07	0.43	(0.58)	1.21	(0.84)	2.80
LBHIX	0.10	0.00	(0.35)	0.14	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.74	0.12	0.02	(2.24)	1.08	(0.82)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	2.01	0.00	0.00	0.12	(0.12)	0.53
KNF	1.49	0.18	0.11	0.18	1.86	(1.51)	2.77	(2.49)	12.78
70082LAB3	0.66	0.09	(0.01)	(0.58)	0.95	(0.79)	1.75	(0.78)	6.86
AMPL	4.87	0.14	0.01	0.35	6.56	(5.22)	10.34	(10.18)	36.78

Be your own money manager

Our tools can tell you how much better you can do entering a position in Absa Group 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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Absa Group Corporate Management

Cowyk Fox	Chief Banking	Profile
Wilhelm Krige	Interim Officer	Profile
Charles Russon	Chief Banking	Profile
Faisal Mkhize	Chief Banking	Profile
Punki Modise	Group Officer	Profile
Akash Singh	Group Officer	Profile
Thabo Mashaba	Interim Officer	Profile

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