MG Plc Correlations

MNG Stock   221.20  0.20  0.09%   
The correlation of MG Plc 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.

MG Plc Correlation With Market

Modest diversification

The correlation between MG Plc and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MG Plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MG Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MG Plc 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 MG Plc - 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 MG Plc to buy it.

Moving together with MNG Stock

  0.730O9Q alstria office REITPairCorr
  0.96LGEN Legal General GroupPairCorr
  0.720R6V mobilezone holdingPairCorr
  0.840E5M De Longhi SpAPairCorr
  0.86RKT Reckitt BenckiserPairCorr
  0.73DORE Downing RenewablesPairCorr
  0.91PANR Pantheon ResourcesPairCorr
  0.840KBT Ren Redes EnergeticasPairCorr
  0.820QG9 Prosiebensat 1 MediaPairCorr
  0.87FAIR Fair Oaks IncomePairCorr
  0.75BATS British American TobaccoPairCorr
  0.78SFT Software Circle plcPairCorr
  0.68PHNX Phoenix Group Holdings Earnings Call TomorrowPairCorr
  0.690GTN BioGaia AB serPairCorr
  0.730QK6 Logitech InternationalPairCorr
  0.79VTA Volta Finance LimitedPairCorr
  0.68HTWS Helios Towers PlcPairCorr
  0.870R07 Pan American SilverPairCorr
  0.9AZN AstraZeneca PLCPairCorr
  0.820RYA Ryanair Holdings plcPairCorr
  0.64KBT K3 Business Technology Earnings Call This WeekPairCorr
  0.860QM2 Berner KantonalbankPairCorr

Moving against MNG Stock

  0.72GR1T GRIT Real EstatePairCorr
  0.48HOC Hochschild Mining plcPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
OPTZEG
ABDXBBH
WWHBBH
ZEG0GA3
OPT0GA3
WWHABDX
  
High negative correlations   
OPTABDX
OPTBBH
ABDXZEG
ZEGBBH
ABDX0GA3
OPTWWH

Risk-Adjusted Indicators

There is a big difference between MNG Stock performing well and MG Plc 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 MG Plc'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 MG Plc 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.

Did you try this?

Run Portfolio Center Now

   

Portfolio Center

All portfolio management and optimization tools to improve performance of your portfolios
All  Next Launch Module