IBEX Technologies Correlations

IBT Stock

EUR 684.00 10.00 1.48%

The current 90-days correlation between IBEX Technologies and Novo Nordisk AS is 0.16 (i.e., Average diversification). The correlation of IBEX Technologies 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.

IBEX Technologies Correlation With Market

Modest diversification

The correlation between IBEX Technologies and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IBEX Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IBEX Stock

0.68	VX1	Vertex Pharmaceuticals	Pair Corr
0.61	AQHE	Event Hospitality	Pair Corr
0.63	UFH	US FOODS HOLDING	Pair Corr
0.63	PNP	PNC Financial	Pair Corr
0.63	WX1	Acadia Realty Trust	Pair Corr

Moving against IBEX Stock

0.52	YHA	Yamaha Split	Pair Corr
0.46	0QF	Moderna	Pair Corr
0.45	MBG	Mercedes Benz Group	Pair Corr
0.41	5FV	YAOKO LTD	Pair Corr
0.42	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA
NOVA		0.62	0.65	0.63	-0.35	0.77	-0.29	0.07	NOVA
CSJA	0.62		0.97	0.59	-0.04	0.7	-0.08	-0.1	CSJA
CSJ	0.65	0.97		0.64	-0.06	0.72	-0.07	-0.13	CSJ
MBG	0.63	0.59	0.64		-0.39	0.78	0.19	0.02	MBG
VX1	-0.35	-0.04	-0.06	-0.39		-0.44	0.04	-0.18	VX1
0QF	0.77	0.7	0.72	0.78	-0.44		-0.16	-0.1	0QF
1FW1	-0.29	-0.08	-0.07	0.19	0.04	-0.16		0.34	1FW1
22UA	0.07	-0.1	-0.13	0.02	-0.18	-0.1	0.34		22UA
	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA

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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

CSJ	+ 0.97	CSJA
0QF	+ 0.78	MBG
0QF	+ 0.77	NOVA
0QF	+ 0.72	CSJ
0QF	+ 0.7	CSJA
CSJ	+ 0.65	NOVA

High negative correlations

0QF	- 0.44	VX1
VX1	- 0.39	MBG
VX1	- 0.35	NOVA
1FW1	- 0.29	NOVA
22UA	- 0.18	VX1
1FW1	- 0.16	0QF

Risk-Adjusted Indicators

There is a big difference between IBEX Stock performing well and IBEX Technologies 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 IBEX Technologies' 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
NOVA	1.38	(0.29)	0.00	4.97	0.00	0.00	2.94	(2.70)	6.32
CSJA	1.03	(0.13)	0.00	(0.34)	0.00	0.00	2.38	(2.34)	6.98
CSJ	0.95	(0.13)	0.00	(0.22)	0.00	0.00	2.11	(2.10)	4.47
MBG	1.11	(0.06)	0.00	0.25	0.00	0.00	1.98	(2.16)	9.12
VX1	1.36	(0.14)	0.00	2.03	0.00	0.00	3.36	(2.69)	10.29
0QF	2.40	(0.73)	0.00	(1.66)	0.00	0.00	3.70	(6.47)	15.59
1FW1	3.92	0.83	0.17	(2.94)	3.96	(4.83)	11.85	(6.76)	28.36
22UA	2.17	0.16	0.05	0.31	2.76	(2.28)	5.82	(4.43)	14.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in IBEX Technologies 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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