Chemring Group Correlations

CHG Stock

567.00 12.00 2.12%

The correlation of Chemring Group 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.

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

Moving together with Chemring Stock

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0.74	S247	Smarttech247 Group PLC	Pair Corr
0.69	EEE	Empire Metals Limited	Pair Corr
0.83	0IKZ	Freddie Mac	Pair Corr
0.74	JDG	Judges Scientific Plc	Pair Corr
0.88	HSX	Hiscox	Pair Corr
0.86	SMSD	Samsung Electronics	Pair Corr
0.76	0O2B	Gruppo MutuiOnline SpA	Pair Corr
0.76	0I9F	Digital Realty Trust	Pair Corr
0.61	GSK	GlaxoSmithKline PLC	Pair Corr
0.87	INSE	Inspired Plc	Pair Corr

Moving against Chemring Stock

0.47

TYT

Toyota Motor Corp

Pair Corr

Related Correlations Analysis

	WWH	EJFI	0R9G	LORD	MHC	EDIN	MNKS	OCI
WWH		0.86	0.63	0.81	-0.77	0.79	0.81	0.85	WWH
EJFI	0.86		0.82	0.94	-0.89	0.76	0.9	0.94	EJFI
0R9G	0.63	0.82		0.81	-0.78	0.56	0.76	0.8	0R9G
LORD	0.81	0.94	0.81		-0.94	0.73	0.9	0.95	LORD
MHC	-0.77	-0.89	-0.78	-0.94		-0.78	-0.92	-0.95	MHC
EDIN	0.79	0.76	0.56	0.73	-0.78		0.88	0.85	EDIN
MNKS	0.81	0.9	0.76	0.9	-0.92	0.88		0.97	MNKS
OCI	0.85	0.94	0.8	0.95	-0.95	0.85	0.97		OCI
	WWH	EJFI	0R9G	LORD	MHC	EDIN	MNKS	OCI

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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

OCI	+ 0.97	MNKS
OCI	+ 0.95	LORD
LORD	+ 0.94	EJFI
OCI	+ 0.94	EJFI
MNKS	+ 0.9	EJFI
MNKS	+ 0.9	LORD

High negative correlations

OCI	- 0.95	MHC
MHC	- 0.94	LORD
MNKS	- 0.92	MHC
MHC	- 0.89	EJFI
EDIN	- 0.78	MHC
MHC	- 0.78	0R9G

Risk-Adjusted Indicators

There is a big difference between Chemring Stock performing well and Chemring Group 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 Chemring Group'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
WWH	0.90	0.13	0.03	0.68	1.06	(1.05)	2.50	(1.57)	5.17
EJFI	0.30	0.10	0.00	4.31	0.00	0.00	0.87	(0.41)	3.48
0R9G	1.51	0.24	0.03	(1.08)	2.19	(2.01)	4.71	(4.49)	14.26
LORD	2.20	1.20	0.43	(9.66)	0.83	(3.69)	8.97	(2.73)	18.51
MHC	1.69	(0.59)	0.00	(2.25)	0.00	0.00	3.57	(5.00)	17.66
EDIN	0.48	0.25	0.29	(3.81)	0.00	(0.66)	1.25	(0.50)	5.01
MNKS	0.89	0.31	0.23	1.48	0.53	(1.10)	2.46	(1.28)	5.70
OCI	0.45	0.24	0.37	2.33	0.00	(0.67)	1.53	(0.44)	3.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in Chemring Group 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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