Impala Platinum Correlations

IMP Stock

12,366 230.00 1.90%

The current 90-days correlation between Impala Platinum Holdings and Nedbank Group is 0.08 (i.e., Significant diversification). The correlation of Impala Platinum 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.

Impala Platinum Correlation With Market

Very good diversification

The correlation between Impala Platinum Holdings and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Impala Platinum Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Impala Stock

0.92	AMS	Anglo American Platinum	Pair Corr
0.79	NPH	Northam Platinum Holdings	Pair Corr
0.64	CPIP	Capitec Bank Holdings	Pair Corr
0.63	SBK	Standard Bank Group	Pair Corr

Moving against Impala Stock

0.69	ARA	Astoria Investments	Pair Corr
0.53	SEB	Sebata Holdings	Pair Corr
0.4	ANI	Afine Investments	Pair Corr

Related Correlations Analysis

	BOX	CLH	NED	CPI	CAA	BTI	HCI	KAP
BOX		-0.48	-0.37	-0.09	0.29	0.14	-0.47	-0.31	BOX
CLH	-0.48		0.43	0.36	0.15	-0.69	0.84	0.44	CLH
NED	-0.37	0.43		0.19	-0.52	-0.44	0.51	0.35	NED
CPI	-0.09	0.36	0.19		0.08	-0.07	0.11	-0.12	CPI
CAA	0.29	0.15	-0.52	0.08		-0.01	-0.1	0.02	CAA
BTI	0.14	-0.69	-0.44	-0.07	-0.01		-0.69	-0.48	BTI
HCI	-0.47	0.84	0.51	0.11	-0.1	-0.69		0.3	HCI
KAP	-0.31	0.44	0.35	-0.12	0.02	-0.48	0.3		KAP
	BOX	CLH	NED	CPI	CAA	BTI	HCI	KAP

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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

HCI	+ 0.84	CLH
HCI	+ 0.51	NED
KAP	+ 0.44	CLH
NED	+ 0.43	CLH
CPI	+ 0.36	CLH
KAP	+ 0.35	NED

High negative correlations

HCI	- 0.69	BTI
BTI	- 0.69	CLH
CAA	- 0.52	NED
KAP	- 0.48	BTI
CLH	- 0.48	BOX
HCI	- 0.47	BOX

Risk-Adjusted Indicators

There is a big difference between Impala Stock performing well and Impala Platinum 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 Impala Platinum'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
BOX	1.26	0.17	0.12	(2.74)	1.21	(1.52)	3.66	(2.11)	8.07
CLH	1.18	(0.37)	0.00	1.85	0.00	0.00	1.99	(2.79)	7.14
NED	1.03	(0.11)	0.00	(3.28)	0.00	0.00	2.02	(2.15)	6.87
CPI	0.97	(0.03)	0.00	0.13	0.00	0.00	2.17	(2.03)	5.25
CAA	1.67	0.13	0.05	0.16	2.04	(1.80)	4.98	(4.14)	10.42
BTI	0.92	0.17	0.08	(0.91)	1.76	(0.89)	1.71	(1.82)	14.66
HCI	1.15	(0.30)	0.00	2.43	0.00	0.00	2.13	(2.57)	5.48
KAP	2.18	(0.11)	0.00	0.90	0.00	0.00	5.15	(5.41)	12.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in Impala Platinum 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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Impala Platinum Corporate Management

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

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