Mitie Group Correlations

MITFY Stock

USD 5.82 0.06 1.02%

The current 90-days correlation between Mitie Group Plc and Intertek Group Plc is 0.02 (i.e., Significant diversification). The correlation of Mitie Group 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.

Mitie Group Correlation With Market

Good diversification

The correlation between Mitie Group Plc and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitie Group Plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Mitie Pink Sheet

0.77	TRI	Thomson Reuters	Pair Corr
0.71	TLPFF	Teleperformance SE	Pair Corr
0.83	TLPFY	Teleperformance PK	Pair Corr
0.75	EC	Ecopetrol SA ADR	Pair Corr
0.66	CBYDF	Corby Spirit	Pair Corr
0.82	NVRO	Nevro Corp	Pair Corr
0.65	TCTZF	Tencent Holdings	Pair Corr
0.64	CDR-PB	Cedar Realty Trust	Pair Corr
0.81	AXSM	Axsome Therapeutics	Pair Corr
0.81	BAOB	Baraboo Bancorporation	Pair Corr
0.79	TOI	Oncology Institute Earnings Call This Week	Pair Corr

Moving against Mitie Pink Sheet

0.65	PBCRY	Bank Central Asia	Pair Corr
0.53	PPERY	Bank Mandiri Persero	Pair Corr
0.5	PPERF	Bank Mandiri Persero	Pair Corr
0.49	PBCRF	PT Bank Central	Pair Corr
0.46	GPN	Global Payments	Pair Corr
0.46	TLK	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	IKTSY	WLDPF	CGRW	DCMDF	HZNOF	TLPFF	CTGL
IKTSY		-0.39	0.0	-0.15	0.64	0.82	-0.84	IKTSY
WLDPF	-0.39		0.0	-0.14	-0.02	-0.64	0.46	WLDPF
CGRW	0.0	0.0		0.0	0.0	0.0	0.0	CGRW
DCMDF	-0.15	-0.14	0.0		-0.23	-0.04	0.24	DCMDF
HZNOF	0.64	-0.02	0.0	-0.23		0.38	-0.63	HZNOF
TLPFF	0.82	-0.64	0.0	-0.04	0.38		-0.73	TLPFF
CTGL	-0.84	0.46	0.0	0.24	-0.63	-0.73		CTGL
	IKTSY	WLDPF	CGRW	DCMDF	HZNOF	TLPFF	CTGL

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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

TLPFF	+ 0.82	IKTSY
HZNOF	+ 0.64	IKTSY
CTGL	+ 0.46	WLDPF
TLPFF	+ 0.38	HZNOF
CTGL	+ 0.24	DCMDF
CGRW	+ 0.0	IKTSY

High negative correlations

CTGL	- 0.84	IKTSY
CTGL	- 0.73	TLPFF
TLPFF	- 0.64	WLDPF
CTGL	- 0.63	HZNOF
WLDPF	- 0.39	IKTSY
HZNOF	- 0.23	DCMDF

Risk-Adjusted Indicators

There is a big difference between Mitie Pink Sheet performing well and Mitie Group 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 Mitie Group'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
IKTSY	1.31	0.09	0.08	(7.66)	1.70	(1.41)	3.09	(2.72)	8.15
WLDPF	2.60	(0.39)	0.00	(0.21)	0.00	0.00	4.69	(16.67)	40.00
CGRW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DCMDF	1.93	(0.10)	0.00	0.16	0.00	0.00	6.21	(4.08)	27.00
HZNOF	1.61	0.27	0.08	(0.78)	2.13	(2.95)	6.55	(3.84)	19.70
TLPFF	2.01	0.37	0.10	0.23	2.40	(2.72)	5.23	(5.23)	14.96
CTGL	1.99	(1.05)	0.00	2.18	0.00	0.00	0.00	0.00	66.67

Be your own money manager

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

Fiona Lawrence	Group Director	Profile
Claire Lovegrove	Head Relations	Profile
Jason Towse	Managing Services	Profile
Cijo Joseph	Chief Officer	Profile
Peter Dickinson	Company Secretary	Profile
Jasmine Hudson	Chief Officer	Profile

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