MAGNUM MINING Correlations

M8Z Stock  EUR 0.04  0.00  0.00%   
The correlation of MAGNUM MINING 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.

MAGNUM MINING Correlation With Market

Good diversification

The correlation between MAGNUM MINING EXP and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAGNUM MINING EXP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MAGNUM MINING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MAGNUM MINING 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 MAGNUM MINING - 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 MAGNUM MINING EXP to buy it.

Moving together with MAGNUM Stock

  0.78MSF MicrosoftPairCorr
  0.78MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.68BYRA BANK RAKYAT INDPairCorr
  0.83PQ9 PT Bank MandiriPairCorr
  0.87PQ9 BANK MANDIRIPairCorr

Moving against MAGNUM Stock

  0.65SSU Samsung ElectronicsPairCorr
  0.63SSU Samsung ElectronicsPairCorr
  0.49SSUN Samsung ElectronicsPairCorr
  0.49SSUN Samsung ElectronicsPairCorr

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   
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K8Y9JD
K8Y7JZ
CP27JZ
5ZO7JZ
9JDCP2
  
High negative correlations   
5ZOCP2
12P7JZ
12P9JD
12PK8Y
12P5ZO
5ZOK8Y

Risk-Adjusted Indicators

There is a big difference between MAGNUM Stock performing well and MAGNUM MINING 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 MAGNUM MINING'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 MAGNUM MINING 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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Fundamental Analysis

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