Pilbara Minerals Correlations

PILBF Stock

USD 1.17 0.07 5.65%

The current 90-days correlation between Pilbara Minerals and South32 Limited is -0.05 (i.e., Good diversification). The correlation of Pilbara Minerals 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.

Pilbara Minerals Correlation With Market

Good diversification

The correlation between Pilbara Minerals Limited and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pilbara Minerals Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pilbara Pink Sheet

0.7	GLCNF	Glencore PLC	Pair Corr
0.71	GLNCY	Glencore PLC ADR	Pair Corr
0.75	CNCK	Coincheck Group NV	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.8	AXP	American Express	Pair Corr

Moving against Pilbara Pink Sheet

0.55	MCD	McDonalds	Pair Corr
0.53	RIO	Rio Tinto ADR	Pair Corr
0.53	TRV	The Travelers Companies	Pair Corr
0.48	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	SHTLF	GMBXF	OROCF	CRECF	JORFF	LLKKF	CXOXF	PMETF	LTHHF	AZLAF
SHTLF		0.15	0.0	0.35	-0.35	-0.42	-0.35	-0.44	0.0	-0.09	SHTLF
GMBXF	0.15		0.0	0.1	-0.41	-0.21	0.12	-0.22	0.0	-0.04	GMBXF
OROCF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	OROCF
CRECF	0.35	0.1	0.0		-0.55	-0.53	-0.27	-0.74	0.0	-0.26	CRECF
JORFF	-0.35	-0.41	0.0	-0.55		0.42	-0.06	0.83	0.0	0.33	JORFF
LLKKF	-0.42	-0.21	0.0	-0.53	0.42		0.29	0.51	0.0	0.11	LLKKF
CXOXF	-0.35	0.12	0.0	-0.27	-0.06	0.29		0.19	0.0	0.07	CXOXF
PMETF	-0.44	-0.22	0.0	-0.74	0.83	0.51	0.19		0.0	0.43	PMETF
LTHHF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	LTHHF
AZLAF	-0.09	-0.04	0.0	-0.26	0.33	0.11	0.07	0.43	0.0		AZLAF
	SHTLF	GMBXF	OROCF	CRECF	JORFF	LLKKF	CXOXF	PMETF	LTHHF	AZLAF

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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

PMETF	+ 0.83	JORFF
PMETF	+ 0.51	LLKKF
AZLAF	+ 0.43	PMETF
LLKKF	+ 0.42	JORFF
CRECF	+ 0.35	SHTLF
AZLAF	+ 0.33	JORFF

High negative correlations

PMETF	- 0.74	CRECF
JORFF	- 0.55	CRECF
LLKKF	- 0.53	CRECF
PMETF	- 0.44	SHTLF
LLKKF	- 0.42	SHTLF
JORFF	- 0.41	GMBXF

Risk-Adjusted Indicators

There is a big difference between Pilbara Pink Sheet performing well and Pilbara Minerals 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 Pilbara Minerals' 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
SHTLF	1.05	0.06	0.01	0.21	1.88	(3.56)	4.59	(1.40)	14.70
GMBXF	1.48	0.15	0.07	0.47	1.84	(1.69)	4.51	(3.09)	8.84
OROCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRECF	4.78	0.61	0.09	0.69	4.64	(7.45)	12.90	(9.37)	30.64
JORFF	6.66	0.69	0.04	0.37	8.61	(17.08)	28.21	(20.00)	66.83
LLKKF	6.29	0.12	0.01	(0.11)	8.17	(6.63)	11.76	(13.64)	33.97
CXOXF	6.90	0.58	0.05	0.53	8.87	(10.16)	15.85	(18.10)	59.21
PMETF	3.21	(0.26)	0.00	(0.61)	0.00	0.00	7.61	(5.74)	20.02
LTHHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AZLAF	34.57	10.99	0.33	(0.51)	23.91	(56.20)	53.62	(41.73)	728.21

Be your own money manager

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

Alex LLB	Chief Sec	Profile
Dale Eng	CEO MD	Profile
David Hann	Investor Specialist	Profile
Vince Carolis	Chief Officer	Profile

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