Zanaga Iron Correlations

ZIOC Stock

4.00 0.16 4.17%

The current 90-days correlation between Zanaga Iron Ore and Givaudan SA is 0.05 (i.e., Significant diversification). The correlation of Zanaga Iron 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.

Zanaga Iron Correlation With Market

Good diversification

The correlation between Zanaga Iron Ore and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zanaga Iron Ore and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Zanaga Stock

0.8	0QPS	Givaudan SA	Pair Corr
0.89	SMSN	Samsung Electronics	Pair Corr
0.86	SMSD	Samsung Electronics	Pair Corr
0.77	HYUD	Hyundai Motor	Pair Corr
0.91	RIGD	Reliance Industries	Pair Corr

Moving against Zanaga Stock

0.89	AMRQ	Amaroq Minerals	Pair Corr
0.85	FXPO	Ferrexpo PLC	Pair Corr
0.78	HHPD	Hon Hai Precision	Pair Corr
0.74	DEC	Diversified Energy	Pair Corr
0.73	0O1C	Thyssenkrupp AG ON	Pair Corr
0.63	AAZ	Anglo Asian Mining	Pair Corr
0.56	MTL	Metals Exploration Plc	Pair Corr
0.52	CEY	Centamin PLC	Pair Corr
0.42	TYT	Toyota Motor Corp	Pair Corr
0.35	SBID	State Bank	Pair Corr

Related Correlations Analysis

	0QPS	ANTO	CEY	ATYM	FXPO	AMRQ	CAML	AAZ	MTL
0QPS		0.67	-0.25	0.61	-0.95	-0.69	0.79	-0.35	-0.54	0QPS
ANTO	0.67		0.3	0.93	-0.57	-0.1	0.94	0.11	-0.23	ANTO
CEY	-0.25	0.3		0.26	0.33	0.6	0.25	0.69	0.58	CEY
ATYM	0.61	0.93	0.26		-0.53	-0.15	0.9	0.01	-0.21	ATYM
FXPO	-0.95	-0.57	0.33	-0.53		0.73	-0.71	0.33	0.51	FXPO
AMRQ	-0.69	-0.1	0.6	-0.15	0.73		-0.26	0.74	0.57	AMRQ
CAML	0.79	0.94	0.25	0.9	-0.71	-0.26		0.06	-0.27	CAML
AAZ	-0.35	0.11	0.69	0.01	0.33	0.74	0.06		0.53	AAZ
MTL	-0.54	-0.23	0.58	-0.21	0.51	0.57	-0.27	0.53		MTL
	0QPS	ANTO	CEY	ATYM	FXPO	AMRQ	CAML	AAZ	MTL

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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

CAML	+ 0.94	ANTO
ATYM	+ 0.93	ANTO
CAML	+ 0.9	ATYM
CAML	+ 0.79	0QPS
AAZ	+ 0.74	AMRQ
AMRQ	+ 0.73	FXPO

High negative correlations

FXPO	- 0.95	0QPS
CAML	- 0.71	FXPO
AMRQ	- 0.69	0QPS
FXPO	- 0.57	ANTO
MTL	- 0.54	0QPS
FXPO	- 0.53	ATYM

Risk-Adjusted Indicators

There is a big difference between Zanaga Stock performing well and Zanaga Iron 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 Zanaga Iron'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
0QPS	0.84	(0.18)	0.00	4.30	0.00	0.00	1.44	(2.34)	5.27
ANTO	1.68	(0.13)	0.00	(0.78)	0.00	0.00	4.53	(4.52)	12.91
CEY	1.95	0.29	0.07	(5.00)	1.78	(2.42)	3.33	(2.92)	28.88
ATYM	1.77	(0.10)	0.00	2.71	0.00	0.00	3.97	(5.03)	11.16
FXPO	4.27	1.24	0.18	(0.64)	4.40	(5.01)	10.72	(7.25)	41.73
AMRQ	1.92	0.80	0.37	7.39	0.97	(2.73)	5.00	(2.56)	10.60
CAML	1.17	(0.11)	0.00	0.45	0.00	0.00	2.42	(2.70)	9.45
AAZ	2.25	0.38	0.09	2.05	2.33	(3.16)	5.73	(4.66)	16.37
MTL	2.36	0.10	(0.02)	(0.66)	2.46	(3.21)	5.61	(4.50)	16.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zanaga Iron 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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