MultiChoice Correlations

MCG Stock   10,776  24.00  0.22%   
The current 90-days correlation between MultiChoice Group and ABSA Bank Limited is 0.17 (i.e., Average diversification). The correlation of MultiChoice 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.

MultiChoice Correlation With Market

Significant diversification

The correlation between MultiChoice Group and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MultiChoice Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MultiChoice could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MultiChoice 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 MultiChoice - 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 MultiChoice Group to buy it.

Moving together with MultiChoice Stock

  0.67HIL HomeChoice InvestmentsPairCorr

Moving against MultiChoice Stock

  0.64ANI Afine InvestmentsPairCorr
  0.63MRP Mr Price GroupPairCorr
  0.58PPH Pepkor HoldingsPairCorr
  0.53AEG AvengPairCorr
  0.52BIK BrikorPairCorr
  0.44WBC We Buy CarsPairCorr
  0.43RTN Rex Trueform GroupPairCorr
  0.36RMH RMB HoldingsPairCorr

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   
ABSPWBC
ARTWBC
ABSPART
WBCEMN
AVIWBC
AMEEMN
  
High negative correlations   
ANIMCG
WHLEMN
WHLART
WHLWBC
WBCMCG
AMEANI

Risk-Adjusted Indicators

There is a big difference between MultiChoice Stock performing well and MultiChoice 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 MultiChoice'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MCG  0.45  0.00 (0.04) 0.03  0.51 
 0.96 
 2.97 
EMH  0.79 (0.05) 0.00  0.10  0.00 
 1.43 
 16.97 
EMN  1.23  0.23  0.05 (0.96) 1.39 
 4.85 
 16.61 
WBC  1.49  0.59  0.31  1.16  1.33 
 3.69 
 9.38 
ART  1.09  0.07  0.03 (0.58) 1.32 
 2.83 
 8.64 
ANI  582.00  302.80  0.00 (1.68) 0.00 
 12.22 
 9,998 
ABSP  0.65  0.10  0.09  0.48  0.75 
 1.45 
 6.71 
AME  1.48  0.19  0.04 (0.77) 1.83 
 4.41 
 18.52 
AVI  0.90  0.01 (0.01) 0.06  1.28 
 1.99 
 6.33 
WHL  1.17 (0.08) 0.00 (0.18) 0.00 
 2.32 
 10.02 

Be your own money manager

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

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