Bank of Queensland Correlations

Preferred Stocks . Australia . 
Preferred Stock . Bank of Queensland
BOQPF Preferred Stock   104.00  0.02  0.02%   
The current 90-days correlation between Bank of Queensland and Bendigo and Adelaide is -0.03 (i.e., Good diversification). The correlation of Bank of Queensland 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.

Bank of Queensland Correlation With Market

Very good diversification

The correlation between Bank of Queensland and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank of Queensland and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Bank of Queensland could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Queensland 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 Bank of Queensland - 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 Bank of Queensland to buy it.

Moving together with Bank Preferred Stock

  0.68BFL BSP Financial GroupPairCorr
  0.72PGF PM Capital GlobalPairCorr
  0.67MQGPD Macquarie GroupPairCorr
  0.62TLC LotteryPairCorr
  0.62IPX IperionxPairCorr
  0.72AAI AlcoaPairCorr
  0.72ANZ ANZ Group HoldingsPairCorr
  0.7WAM WAM CapitalPairCorr
  0.64ASG Autosports GroupPairCorr
  0.71FSA FSA GroupPairCorr
  0.7SKY SKY MetalsPairCorr
  0.71AII Almonty Industries SplitPairCorr
  0.66BDT Birddog TechnologyPairCorr
  0.62NAB National Australia BankPairCorr
  0.81PAI Platinum Asia InvestmentsPairCorr
  0.64WTC Wisetech GlobalPairCorr
  0.63BNZ BENZ Mining CorpPairCorr

Moving against Bank Preferred Stock

  0.41IVT InventisPairCorr

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   
BOQ
+ 0.9
BEN
BOQPF
+ 0.68
BFL
BFL
+ 0.65
BEN
BOQPF
+ 0.6
BEN
BOQPF
+ 0.53
BOQ
BFL
+ 0.46
BOQ
  
High negative correlations   
BBC
- 0.65
JDO
JDO
- 0.37
BOQ
BBC
- 0.25
BFL
JDO
- 0.15
BEN
BBC
- 0.07
BEN

Risk-Adjusted Indicators

There is a big difference between Bank Preferred Stock performing well and Bank of Queensland 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 Bank of Queensland'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 Bank of Queensland 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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Bank of Queensland Corporate Management

Elected by the shareholders, the Bank of Queensland's board of directors comprises two types of representatives: Bank of Queensland inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of Queensland's management team and ensure that shareholders' interests are well served. Bank of Queensland'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, Bank of Queensland's outside directors are responsible for providing unbiased perspectives on the board's policies.
Racheal KellawayGroup OfficerProfile
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