Phibro Animal Correlations

PB8 Stock

EUR 20.00 0.00 0.00%

The current 90-days correlation between Phibro Animal Health and ORMAT TECHNOLOGIES is 0.19 (i.e., Average diversification). The correlation of Phibro Animal 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.

Phibro Animal Correlation With Market

Good diversification

The correlation between Phibro Animal Health and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Phibro Animal Health and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Phibro Stock

0.64	GU5	Guangzhou Baiyunshan	Pair Corr
0.62	NVD	NVIDIA	Pair Corr
0.73	MOB	Monster Beverage Corp	Pair Corr
0.63	DTE	Deutsche Telekom	Pair Corr

Moving against Phibro Stock

0.54	LDZU	ASPEN PHARUNADR 1	Pair Corr
0.37	3KY	HANSOH PHARMAC HD	Pair Corr
0.37	BYRA	PT Bank Rakyat	Pair Corr
0.32	BYRA	BANK RAKYAT IND	Pair Corr
0.42	TCID	Telkom Indonesia Tbk	Pair Corr
0.39	PTI	Perusahaan Perseroan	Pair Corr

Related Correlations Analysis

	HNM	ESY	22UA	NRSA	98Q	FUY	9TG	KWO
HNM		-0.67	-0.17	0.47	0.21	-0.18	0.63	-0.2	HNM
ESY	-0.67		0.31	-0.84	-0.61	-0.07	-0.16	-0.13	ESY
22UA	-0.17	0.31		-0.44	-0.41	0.31	-0.1	-0.06	22UA
NRSA	0.47	-0.84	-0.44		0.64	0.12	-0.06	0.22	NRSA
98Q	0.21	-0.61	-0.41	0.64		0.28	-0.25	0.32	98Q
FUY	-0.18	-0.07	0.31	0.12	0.28		-0.66	0.28	FUY
9TG	0.63	-0.16	-0.1	-0.06	-0.25	-0.66		-0.39	9TG
KWO	-0.2	-0.13	-0.06	0.22	0.32	0.28	-0.39		KWO
	HNM	ESY	22UA	NRSA	98Q	FUY	9TG	KWO

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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

98Q	+ 0.64	NRSA
9TG	+ 0.63	HNM
NRSA	+ 0.47	HNM
KWO	+ 0.32	98Q
22UA	+ 0.31	ESY
FUY	+ 0.31	22UA

High negative correlations

NRSA	- 0.84	ESY
ESY	- 0.67	HNM
9TG	- 0.66	FUY
98Q	- 0.61	ESY
NRSA	- 0.44	22UA
98Q	- 0.41	22UA

Risk-Adjusted Indicators

There is a big difference between Phibro Stock performing well and Phibro Animal 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 Phibro Animal'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
HNM	1.18	(0.09)	0.00	0.23	0.00	0.00	2.44	(3.16)	7.70
ESY	1.33	0.36	0.14	(1.35)	1.11	(2.80)	3.66	(2.67)	15.94
22UA	1.84	0.13	0.04	(0.33)	2.70	(2.03)	3.84	(3.91)	16.83
NRSA	1.33	(0.20)	0.00	0.63	0.00	0.00	2.52	(2.63)	12.72
98Q	1.70	(0.07)	0.00	0.20	0.00	0.00	4.59	(3.88)	12.08
FUY	1.24	(0.06)	0.00	0.43	0.00	0.00	2.61	(2.61)	12.14
9TG	1.21	0.01	(0.01)	0.00	1.65	(1.22)	2.81	(2.76)	8.62
KWO	1.07	0.05	0.02	0.21	1.55	(2.03)	2.13	(3.06)	15.06

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Our tools can tell you how much better you can do entering a position in Phibro Animal 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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