SIMS METAL Correlations

I8M Stock

EUR 8.80 0.25 2.92%

The current 90-days correlation between SIMS METAL MGT and Air Transport Services is 0.12 (i.e., Average diversification). The correlation of SIMS METAL 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.

SIMS METAL Correlation With Market

Good diversification

The correlation between SIMS METAL MGT 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 SIMS METAL MGT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SIMS Stock

0.55	MSF	Microsoft	Pair Corr
0.54	MSF	Microsoft	Pair Corr
0.52	MSF	Microsoft	Pair Corr
0.52	MSF	Microsoft	Pair Corr
0.51	MSF	Microsoft	Pair Corr
0.5	PQ9	PT Bank Mandiri	Pair Corr
0.48	APC	Apple Inc	Pair Corr
0.48	APC	Apple Inc	Pair Corr
0.48	PQ9	BANK MANDIRI	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.36	BYRA	BANK RAKYAT IND	Pair Corr
0.33	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	FR70	AW8	8D9	KWO	O3I	T2G	4T0
FR70		-0.63	0.06	0.22	-0.69	0.12	0.22	FR70
AW8	-0.63		-0.24	-0.17	0.65	-0.4	-0.44	AW8
8D9	0.06	-0.24		-0.32	0.22	-0.26	-0.03	8D9
KWO	0.22	-0.17	-0.32		-0.33	0.26	0.21	KWO
O3I	-0.69	0.65	0.22	-0.33		-0.46	-0.55	O3I
T2G	0.12	-0.4	-0.26	0.26	-0.46		0.39	T2G
4T0	0.22	-0.44	-0.03	0.21	-0.55	0.39		4T0
	FR70	AW8	8D9	KWO	O3I	T2G	4T0

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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

O3I	+ 0.65	AW8
4T0	+ 0.39	T2G
T2G	+ 0.26	KWO
KWO	+ 0.22	FR70
4T0	+ 0.22	FR70
O3I	+ 0.22	8D9

High negative correlations

O3I	- 0.69	FR70
AW8	- 0.63	FR70
4T0	- 0.55	O3I
T2G	- 0.46	O3I
4T0	- 0.44	AW8
T2G	- 0.4	AW8

Risk-Adjusted Indicators

There is a big difference between SIMS Stock performing well and SIMS METAL 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 SIMS METAL'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
FR70	1.37	0.01	0.01	0.06	2.05	(1.30)	2.45	(2.67)	9.82
AW8	0.31	0.02	0.04	(0.92)	0.34	(1.05)	0.96	(0.94)	2.82
8D9	2.17	0.21	0.03	(0.27)	3.24	(5.35)	3.70	(3.57)	31.95
KWO	0.90	0.01	0.01	0.03	1.36	(1.99)	2.13	(2.08)	18.52
O3I	1.45	0.26	0.21	(3.45)	1.14	(2.03)	3.24	(2.26)	16.26
T2G	0.14	(0.03)	0.00	0.48	0.00	0.00	0.57	(0.57)	2.27
4T0	1.23	(0.03)	0.00	0.66	0.00	0.00	2.48	(3.05)	6.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in SIMS METAL 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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SIMS METAL Corporate Management

Elected by the shareholders, the SIMS METAL's board of directors comprises two types of representatives: SIMS METAL inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SIMS. The board's role is to monitor SIMS METAL's management team and ensure that shareholders' interests are well served. SIMS METAL's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, SIMS METAL's outside directors are responsible for providing unbiased perspectives on the board's policies.

Thomas Gorman	Non-Executive Independent Director	Profile
James Thompson	Independent Non-Executive Director	Profile
Elise Gautier	Group Chief Risk & Compliance Officer	Profile
Michael Movsas	Chief Commercial Officer	Profile
Hiroyuki Kato	Non-Independent Non-Executive Director	Profile

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