Fortescue Metals Correlations

FVJ Stock

EUR 11.17 0.09 0.80%

The current 90-days correlation between Fortescue Metals and Casio Computer CoLtd is 0.19 (i.e., Average diversification). The correlation of Fortescue 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.

Fortescue Metals Correlation With Market

Good diversification

The correlation between Fortescue Metals Group and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortescue Metals Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fortescue 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 Fortescue 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 Fortescue 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 Fortescue Metals Group to buy it.

Moving against Fortescue Stock

0.37	TM2	Sydbank AS	Pair Corr
0.36	BFP	BBVA Banco Frances	Pair Corr

Related Correlations Analysis

	CAC1	1HTA	RZH	MEL	BED	9FM	CTE	UF2
CAC1		0.48	0.27	0.48	0.02	0.4	0.0	0.81	CAC1
1HTA	0.48		0.44	0.62	-0.06	0.27	0.0	0.74	1HTA
RZH	0.27	0.44		0.26	0.41	0.17	0.0	0.52	RZH
MEL	0.48	0.62	0.26		-0.27	0.41	0.0	0.71	MEL
BED	0.02	-0.06	0.41	-0.27		-0.1	0.0	0.02	BED
9FM	0.4	0.27	0.17	0.41	-0.1		0.0	0.4	9FM
CTE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	CTE
UF2	0.81	0.74	0.52	0.71	0.02	0.4	0.0		UF2
	CAC1	1HTA	RZH	MEL	BED	9FM	CTE	UF2

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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

UF2	+ 0.81	CAC1
UF2	+ 0.74	1HTA
UF2	+ 0.71	MEL
MEL	+ 0.62	1HTA
UF2	+ 0.52	RZH
1HTA	+ 0.48	CAC1

High negative correlations

BED	- 0.27	MEL
9FM	- 0.1	BED
BED	- 0.06	1HTA
UF2	- 0.0	CTE
CTE	- 0.0	9FM
CTE	- 0.0	BED

Risk-Adjusted Indicators

There is a big difference between Fortescue Stock performing well and Fortescue 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 Fortescue 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CAC1	1.02	0.14	0.13	(0.97)	0.83	(1.43)	2.03	(1.51)	8.79
1HTA	1.33	0.17	0.07	(0.18)	1.93	(1.27)	2.52	(3.03)	9.50
RZH	2.09	0.15	0.04	0.32	2.38	(3.15)	5.13	(4.00)	15.35
MEL	1.21	0.23	0.13	(0.62)	1.25	(1.32)	2.52	(2.42)	7.08
BED	0.91	(0.02)	0.00	(0.07)	0.00	0.00	1.87	(2.08)	4.98
9FM	0.76	0.17	0.15	(0.66)	0.66	(1.09)	1.93	(1.34)	7.22
CTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UF2	1.15	0.35	0.21	2.62	0.85	(1.86)	2.61	(1.98)	11.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fortescue 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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Fortescue Metals Corporate Management

Elected by the shareholders, the Fortescue Metals' board of directors comprises two types of representatives: Fortescue Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fortescue. The board's role is to monitor Fortescue Metals' management team and ensure that shareholders' interests are well served. Fortescue 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, Fortescue Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.

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