Indiana Resources Correlations

IDA Stock   0.08  0  1.32%   
The correlation of Indiana Resources 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.

Indiana Resources Correlation With Market

Average diversification

The correlation between Indiana Resources and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Indiana Resources and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Indiana Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Indiana Resources 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 Indiana Resources - 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 Indiana Resources to buy it.

Moving together with Indiana Stock

  0.82NST Northern Star ResourcesPairCorr
  0.63EVN Evolution MiningPairCorr
  0.64BSL Bluescope SteelPairCorr
  0.89SFR Sandfire ResourcesPairCorr
  0.8DEG De Grey MiningPairCorr
  0.76ATM Aneka Tambang TbkPairCorr
  0.66PRU Perseus MiningPairCorr
  0.71URW Unibail Rodamco WestPairCorr
  0.83NEM NEWMONT PORATION CDIPairCorr
  0.67CYL Catalyst MetalsPairCorr
  0.81GDI GDI Property GroupPairCorr
  0.86EMR Emerald ResourcesPairCorr

Moving against Indiana Stock

  0.65WHC Whitehaven CoalPairCorr
  0.61AAI Alcoa IncPairCorr
  0.58PLS Pilbara MineralsPairCorr
  0.51SUN Suncorp Group SplitPairCorr
  0.431TT Thrive Tribe TechnologiesPairCorr

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   
EVEMBX
EPNMBX
EPNEVE
RHCKAM
KAMMBX
RHCMBX
  
High negative correlations   
FPHKAM
FPHRHC
EPNFPH
EPNRHC
EPNKAM
FPHEVE

Risk-Adjusted Indicators

There is a big difference between Indiana Stock performing well and Indiana Resources 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 Indiana Resources' 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 Indiana Resources 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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Indiana Resources Corporate Management

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