Netcall PLC Correlations

NEW Stock

1.15 0.10 9.52%

The current 90-days correlation between Netcall PLC and Gamma Communications plc is 0.13 (i.e., Average diversification). The correlation of Netcall 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. If the correlation is 0, the equities are not correlated; they are entirely random.

The ability to find closely correlated positions to Netcall 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 Netcall 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 Netcall 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 Netcall PLC to buy it.

Moving together with Netcall Stock

0.76	AMZ	Amazon Inc	Pair Corr
0.69	CYL	CryoLife	Pair Corr
0.71	CYL	CRYOLIFE	Pair Corr
0.71	UFH	US FOODS HOLDING	Pair Corr
0.82	2T9A	TRAINLINE PLC LS	Pair Corr
0.72	SK3	Smurfit Kappa Group	Pair Corr
0.71	EQN2	Equinix	Pair Corr
0.69	PPB	Flutter Entertainment PLC	Pair Corr
0.79	2WY	Wyndham Hotels Resorts	Pair Corr
0.72	WX1	Acadia Realty Trust	Pair Corr
0.63	0XHR	Xenia Hotels Resorts	Pair Corr
0.68	FFH	Fifth Third Bancorp	Pair Corr
0.75	PTX	Palantir Technologies	Pair Corr

Moving against Netcall Stock

0.67	EII	Eisai	Pair Corr
0.56	AXI	Atos SE	Pair Corr

Related Correlations Analysis

	6GC	SRI	QCH	T2G	BW8	UTDI	IE2A	WN6
6GC		-0.43	-0.35	-0.01	0.01	0.29	-0.22	-0.34	6GC
SRI	-0.43		0.84	0.1	0.66	-0.66	0.65	0.33	SRI
QCH	-0.35	0.84		0.45	0.71	-0.91	0.9	0.64	QCH
T2G	-0.01	0.1	0.45		0.01	-0.61	0.56	0.67	T2G
BW8	0.01	0.66	0.71	0.01		-0.54	0.61	0.1	BW8
UTDI	0.29	-0.66	-0.91	-0.61	-0.54		-0.91	-0.69	UTDI
IE2A	-0.22	0.65	0.9	0.56	0.61	-0.91		0.68	IE2A
WN6	-0.34	0.33	0.64	0.67	0.1	-0.69	0.68		WN6
	6GC	SRI	QCH	T2G	BW8	UTDI	IE2A	WN6

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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

IE2A	+ 0.9	QCH
QCH	+ 0.84	SRI
BW8	+ 0.71	QCH
WN6	+ 0.68	IE2A
WN6	+ 0.67	T2G
BW8	+ 0.66	SRI

High negative correlations

IE2A	- 0.91	UTDI
UTDI	- 0.91	QCH
WN6	- 0.69	UTDI
UTDI	- 0.66	SRI
UTDI	- 0.61	T2G
UTDI	- 0.54	BW8

Risk-Adjusted Indicators

There is a big difference between Netcall Stock performing well and Netcall 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 Netcall 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
6GC	1.13	(0.10)	0.00	(0.13)	0.00	0.00	2.15	(2.12)	7.40
SRI	3.12	1.10	0.25	(3.86)	1.84	(6.82)	8.33	(3.85)	26.44
QCH	1.22	0.39	0.29	0.45	0.91	(1.68)	3.16	(1.31)	9.45
T2G	0.08	(0.01)	0.00	0.35	0.00	0.00	0.56	(0.55)	2.22
BW8	0.78	0.10	0.08	0.22	0.62	(1.35)	1.96	(0.98)	4.81
UTDI	1.28	(0.31)	0.00	0.88	0.00	0.00	2.63	(2.14)	19.18
IE2A	2.82	0.55	0.08	(2.99)	2.59	(9.85)	9.09	(5.88)	28.96
WN6	1.06	(0.06)	0.00	(0.11)	0.00	0.00	2.50	(2.59)	6.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in Netcall 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.

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