FirstGroup PLC Correlations

FGP Stock

220.00 1.60 0.72%

The current 90-days correlation between FirstGroup PLC and Playtech Plc is 0.21 (i.e., Modest diversification). The correlation of FirstGroup PLC 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.

FirstGroup PLC Correlation With Market

Average diversification

The correlation between FirstGroup PLC and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FirstGroup PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FirstGroup Stock

0.82	0M69	OTP Bank Nyrt	Pair Corr
0.74	0IL0	Fannie Mae	Pair Corr
0.92	0QYP	Microsoft	Pair Corr
0.83	0IKZ	Freddie Mac	Pair Corr
0.78	ANG	Angling Direct PLC	Pair Corr
0.93	KAP	JSC National Atomic	Pair Corr
0.73	0QVF	FinecoBank SpA	Pair Corr
0.85	WIX	Wickes Group PLC	Pair Corr
0.91	0O2B	Gruppo MutuiOnline SpA	Pair Corr
0.86	SMSD	Samsung Electronics	Pair Corr
0.81	BIRG	Bank of Ireland	Pair Corr
0.81	0K7F	Aurubis AG	Pair Corr
0.94	OIT	Odyssean Investment Trust	Pair Corr
0.8	S247	Smarttech247 Group PLC	Pair Corr
0.77	0RP8	Liechtensteinische	Pair Corr
0.9	EEE	Empire Metals Limited	Pair Corr
0.9	0LC3	Synchrony Financial Earnings Call Tomorrow	Pair Corr
0.89	THX	Thor Explorations	Pair Corr
0.91	CMCL	Caledonia Mining	Pair Corr
0.89	0QP1	Chocoladefabriken Lindt Earnings Call Tomorrow	Pair Corr
0.73	HSX	Hiscox	Pair Corr
0.76	0H3Q	Deutsche Post AG	Pair Corr
0.8	0I9F	Digital Realty Trust Earnings Call This Week	Pair Corr
0.75	0IN3	Jacquet Metal Service	Pair Corr
0.74	HSBA	HSBC Holdings PLC	Pair Corr
0.93	MMIT	Mobius Investment Trust	Pair Corr

Moving against FirstGroup Stock

0.63	0A0C	Stadler Rail AG	Pair Corr
0.56	TYT	Toyota Motor Corp	Pair Corr
0.5	0R15	SoftBank Group Corp	Pair Corr
0.63	GSC	GS Chain PLC	Pair Corr
0.44	MET1	Metals One PLC	Pair Corr

Related Correlations Analysis

	PTEC	0M1K	CUSN	GMET	OIT	TMPL	RSG	EJFI
PTEC		0.74	0.75	0.72	0.67	0.77	0.73	0.78	PTEC
0M1K	0.74		0.53	0.83	0.73	0.72	0.62	0.83	0M1K
CUSN	0.75	0.53		0.55	0.63	0.71	0.67	0.61	CUSN
GMET	0.72	0.83	0.55		0.87	0.84	0.69	0.9	GMET
OIT	0.67	0.73	0.63	0.87		0.94	0.82	0.88	OIT
TMPL	0.77	0.72	0.71	0.84	0.94		0.9	0.9	TMPL
RSG	0.73	0.62	0.67	0.69	0.82	0.9		0.83	RSG
EJFI	0.78	0.83	0.61	0.9	0.88	0.9	0.83		EJFI
	PTEC	0M1K	CUSN	GMET	OIT	TMPL	RSG	EJFI

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Risk-Adjusted Indicators

There is a big difference between FirstGroup Stock performing well and FirstGroup PLC 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 FirstGroup PLC'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
PTEC	1.39	0.34	0.21	0.73	1.06	(1.84)	4.04	(2.52)	7.88
0M1K	0.03	0.01	0.00	(1.89)	0.00	0.00	0.00	0.00	0.97
CUSN	1.80	0.06	(0.01)	0.29	2.37	(2.59)	5.21	(4.95)	14.84
GMET	2.74	0.81	0.19	(1.76)	2.57	(3.76)	8.06	(4.05)	22.26
OIT	1.19	0.34	0.16	9.11	0.85	(1.57)	3.90	(1.77)	8.68
TMPL	0.50	0.25	0.24	2.53	0.00	(0.72)	1.22	(0.79)	3.16
RSG	2.69	0.68	0.13	(0.71)	2.79	(3.16)	7.17	(4.31)	23.91
EJFI	0.27	0.09	0.00	(2.22)	0.00	0.00	0.84	(0.41)	3.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in FirstGroup PLC 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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FirstGroup PLC Corporate Management

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

Andrew Jarvis	Managing Glasgow	Profile
David Blizzard	Company Secretary	Profile
Faisal Tabbah	Head Relations	Profile
Janette Bell	Managing Bus	Profile
Stuart Butchers	Group Communications	Profile

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