Sims Metal Correlations
The correlation of Sims Metal 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.
Sims |
The ability to find closely correlated positions to Sims Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sims Metal 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 Sims Metal - 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 Sims Metal Management to buy it.
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Sims Pink Sheet performing well and Sims Metal 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 Sims Metal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| STLD | 1.59 | 0.12 | 0.06 | 0.07 | 1.77 | 4.13 | 10.47 | |||
| CLF | 3.00 | (0.04) | 0.00 | (0.27) | 0.00 | 7.86 | 28.73 | |||
| X | 2.35 | 0.42 | 0.16 | 0.45 | 2.47 | 5.46 | 16.06 | |||
| MT | 2.06 | 0.44 | 0.22 | 0.85 | 1.78 | 6.03 | 16.40 | |||
| RS | 1.22 | 0.03 | 0.03 | 0.01 | 1.51 | 2.87 | 5.82 |
Sims Metal Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sims Metal pink sheet to make a market-neutral strategy. Peer analysis of Sims Metal could also be used in its relative valuation, which is a method of valuing Sims Metal by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Sims Metal Corporate Management
| Stephen Mikkelsen | Group Officer | Profile | |
| Ral HamiltonRomeo | Global Marketing | Profile | |
| Robert Thompson | Global Metal | Profile | |
| JD BA | Group Sec | Profile | |
| Ana Metelo | Director Sec | Profile | |
| Elise Gautier | Group Chief Risk & Compliance Officer | Profile |
Still Interested in Sims Metal Management?
Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.