Foschini Correlations

TFG Stock   13,583  207.00  1.55%   
The current 90-days correlation between Foschini Group and Bytes Technology is -0.27 (i.e., Very good diversification). The correlation of Foschini 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.

Foschini Correlation With Market

Average diversification

The correlation between Foschini Group and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foschini Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Foschini could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Foschini 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 Foschini - 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 Foschini Group to buy it.

Moving together with Foschini Stock

  0.78LEW Lewis Group LimitedPairCorr
  0.92RLO ReunertPairCorr
  0.83AFT AfrimatPairCorr
  0.94DCP Dis Chem PharmaciesPairCorr

Moving against Foschini Stock

  0.95GFI Gold FieldsPairCorr
  0.9ANG AngloGold AshantiPairCorr
  0.57TLM Telemasters HoldingsPairCorr

Related Correlations Analysis

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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   
KIOHAR
HARBYI
ARLFTH
KIOBYI
WBCBYI
ARLWBC
  
High negative correlations   
ARLHAR
ARLKIO
KIOFTH
FTHBYI
FTHHAR
WBCFTH

Risk-Adjusted Indicators

There is a big difference between Foschini Stock performing well and Foschini 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 Foschini'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 Foschini 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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Foschini Corporate Management

Elected by the shareholders, the Foschini's board of directors comprises two types of representatives: Foschini inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Foschini. The board's role is to monitor Foschini's management team and ensure that shareholders' interests are well served. Foschini's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Foschini's outside directors are responsible for providing unbiased perspectives on the board's policies.
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