GrainCorp Correlations

GRCLF Stock  USD 4.97  0.01  0.20%   
The current 90-days correlation between GrainCorp Limited and Australian Agricultural is 0.52 (i.e., Very weak diversification). The correlation of GrainCorp 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.

GrainCorp Correlation With Market

Good diversification

The correlation between GrainCorp Limited and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GrainCorp Limited and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to GrainCorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GrainCorp 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 GrainCorp - 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 GrainCorp Limited to buy it.

Moving together with GrainCorp Pink Sheet

  0.67ADM Archer Daniels MidlandPairCorr
  0.68WLMIF Wilmar InternationalPairCorr
  0.76WLMIY Wilmar InternationalPairCorr
  0.74PPERF Bank Mandiri PerseroPairCorr
  0.79PPERY Bank Mandiri PerseroPairCorr
  0.77BKRKY Bank RakyatPairCorr
  0.64BKRKF PT Bank RakyatPairCorr
  0.79PBCRY Bank Central AsiaPairCorr
  0.66PTAIY Astra International TbkPairCorr
  0.68PTBRY Bank Negara IndonesiaPairCorr
  0.69JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.65MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against GrainCorp Pink Sheet

  0.87QBTS D Wave Quantum TrendingPairCorr
  0.85MCK McKessonPairCorr
  0.76MBFJF Mitsubishi UFJ FinancialPairCorr
  0.68GPMT Granite Point MortgagePairCorr
  0.67TSN Tyson FoodsPairCorr
  0.47MNHVF Mowi ASAPairCorr
  0.45PTAIF PT Astra InternationalPairCorr
  0.33SSNLF Samsung ElectronicsPairCorr
  0.31SALRF SalMar ASAPairCorr
  0.88RKLB Rocket Lab USAPairCorr
  0.86WMT Walmart Aggressive PushPairCorr
  0.84BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.83BLND Blend LabsPairCorr
  0.83JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.79T ATT Inc Aggressive PushPairCorr
  0.74TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.72AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.66CSCO Cisco Systems Aggressive PushPairCorr
  0.59AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
AFRIWASAGF
AFRIWAGRIW
AFRIAGRIW
AFRIASAGF
AGRIWASAGF
  
High negative correlations   
AFRIAFRIW

Risk-Adjusted Indicators

There is a big difference between GrainCorp Pink Sheet performing well and GrainCorp 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 GrainCorp'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 GrainCorp 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.

Did you try this?

Run Price Transformation Now

   

Price Transformation

Use Price Transformation models to analyze the depth of different equity instruments across global markets
All  Next Launch Module

GrainCorp Corporate Management

Cate HathawayInterim Group General Manager Human Resources and SHEProfile
Jesse ScottChief OfficerProfile
Robert BEMD CEOProfile
LLB BComGroup SecProfile
Luke ThrumSr RelationsProfile
Klaus PammingerGroup General Manager of MarketingProfile
MBA LLBGroup OfficerProfile