Centrex Metals Correlations

Stocks . Australia . 
Stock . Centrex Metals
CXM Stock   0.02  0.00  0.00%   
The current 90-days correlation between Centrex Metals and Northern Star Resources is 0.19 (i.e., Average diversification). The correlation of Centrex Metals 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.

Centrex Metals Correlation With Market

Good diversification

The correlation between Centrex Metals and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Centrex Metals and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Centrex Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Centrex Metals 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 Centrex Metals - 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 Centrex Metals to buy it.

Moving together with Centrex Stock

  0.72SFR Sandfire ResourcesPairCorr

Moving against Centrex Stock

  0.94AME Alto MetalsPairCorr
  0.92CBA Commonwealth BankPairCorr
  0.92SQ2 Block IncPairCorr
  0.92JBH JB Hi FiPairCorr
  0.82SUN Suncorp GroupPairCorr
  0.79NABPF National Australia BankPairCorr
  0.75GDF Garda Diversified PptyPairCorr
  0.75ABA Auswide BankPairCorr
  0.75FSI Flagship InvestmentsPairCorr
  0.7DEG De Grey MiningPairCorr
  0.65WBCPJ Westpac BankingPairCorr
  0.6BPT Beach EnergyPairCorr
  0.59MME MoneyMePairCorr
  0.58CVV Caravel MineralsPairCorr
  0.56CBAPJ Commonwealth BankPairCorr
  0.55NAB National Australia BankPairCorr
  0.37CCR Credit ClearPairCorr
  0.89IAG Insurance AustraliaPairCorr
  0.88BEN Bendigo And AdelaidePairCorr
  0.87IMR Imricor Medical SystemsPairCorr
  0.86BIS Bisalloy Steel GroupPairCorr
  0.85SHO SportsHeroPairCorr
  0.84HSN Hansen TechnologiesPairCorr
  0.82AHF Australian Dairy FarmsPairCorr
  0.8AIQ Alternative InvestmentPairCorr
  0.8HUB Hub24PairCorr

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   
PRU
+ 0.78
EVN
EVN
+ 0.74
NST
SFR
+ 0.74
BSL
PRU
+ 0.65
NST
DEG
+ 0.41
EVN
SFR
+ 0.3
NST
  
High negative correlations   
DEG
- 0.44
SFR
ATM
- 0.42
NST
ATM
- 0.39
EVN
DEG
- 0.3
BSL
BSL
- 0.18
EVN
DEG
- 0.15
NST

Risk-Adjusted Indicators

There is a big difference between Centrex Stock performing well and Centrex Metals 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 Centrex Metals' 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 Centrex Metals 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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Centrex Metals Corporate Management

Elected by the shareholders, the Centrex Metals' board of directors comprises two types of representatives: Centrex Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Centrex. The board's role is to monitor Centrex Metals' management team and ensure that shareholders' interests are well served. Centrex Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Centrex Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.
Hiti TalujaChief OfficerProfile
BSc BScGeneral ExplorationProfile
Enzo ArtoneChief OfficerProfile
Jonathan LindhCompany SecProfile
BE DipLawCompany SecretaryProfile
Brian HallGeneral MineProfile
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