Glencore PLC Correlations

GLCNF Stock

USD 4.10 0.02 0.49%

The current 90-days correlation between Glencore PLC and Glencore PLC ADR is 0.87 (i.e., Very poor diversification). The correlation of Glencore 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.

Glencore PLC Correlation With Market

Modest diversification

The correlation between Glencore PLC and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glencore PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Glencore 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 Glencore 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 Glencore 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 Glencore PLC to buy it.

Moving together with Glencore Pink Sheet

1.0	GLNCY	Glencore PLC ADR	Pair Corr
0.69	AAUKF	Anglo American plc	Pair Corr
0.7	SLF	Sun Life Financial	Pair Corr
0.66	INTC	Intel Earnings Call This Week	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.84	MSFT	Microsoft	Pair Corr
0.88	JPM	JPMorgan Chase	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr
0.86	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.85	AXP	American Express	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.85	IBM	International Business Earnings Call This Week	Pair Corr
0.86	BAC	Bank of America	Pair Corr

Moving against Glencore Pink Sheet

0.69	MCD	McDonalds	Pair Corr
0.43	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.42	KO	Coca Cola Earnings Call This Week	Pair Corr
0.33	SIGL	Signal Advance	Pair Corr

Related Correlations Analysis

	GLNCY	NGLOY	SMMYY	RTPPF	IVPAF	CMCLF	AAUKF	FQVLF
GLNCY		0.86	0.84	0.14	-0.74	0.84	0.69	0.91	GLNCY
NGLOY	0.86		0.81	0.22	-0.52	0.68	0.81	0.82	NGLOY
SMMYY	0.84	0.81		0.14	-0.61	0.77	0.69	0.89	SMMYY
RTPPF	0.14	0.22	0.14		0.09	0.1	0.3	0.13	RTPPF
IVPAF	-0.74	-0.52	-0.61	0.09		-0.6	-0.43	-0.66	IVPAF
CMCLF	0.84	0.68	0.77	0.1	-0.6		0.59	0.89	CMCLF
AAUKF	0.69	0.81	0.69	0.3	-0.43	0.59		0.73	AAUKF
FQVLF	0.91	0.82	0.89	0.13	-0.66	0.89	0.73		FQVLF
	GLNCY	NGLOY	SMMYY	RTPPF	IVPAF	CMCLF	AAUKF	FQVLF

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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

FQVLF	+ 0.91	GLNCY
FQVLF	+ 0.89	SMMYY
FQVLF	+ 0.89	CMCLF
NGLOY	+ 0.86	GLNCY
SMMYY	+ 0.84	GLNCY
CMCLF	+ 0.84	GLNCY

High negative correlations

IVPAF	- 0.74	GLNCY
FQVLF	- 0.66	IVPAF
IVPAF	- 0.61	SMMYY
CMCLF	- 0.6	IVPAF
IVPAF	- 0.52	NGLOY
AAUKF	- 0.43	IVPAF

Risk-Adjusted Indicators

There is a big difference between Glencore Pink Sheet performing well and Glencore 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 Glencore 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
GLNCY	1.55	0.24	0.08	0.73	1.90	(1.75)	3.21	(2.22)	10.75
NGLOY	1.80	0.20	0.06	0.68	1.81	(2.05)	3.94	(3.63)	9.88
SMMYY	1.42	0.22	0.05	2.71	1.51	(1.70)	4.45	(2.65)	12.16
RTPPF	1.14	0.05	(0.01)	0.29	1.36	(2.80)	3.56	(3.35)	14.56
IVPAF	2.84	(0.10)	0.00	(0.09)	0.00	0.00	7.80	(6.31)	22.89
CMCLF	3.48	0.91	0.12	(2.51)	3.99	(4.57)	8.70	(7.50)	24.29
AAUKF	1.60	0.33	0.06	(4.76)	1.52	(4.11)	4.88	(4.21)	23.21
FQVLF	1.91	0.47	0.27	0.67	1.33	(2.52)	5.12	(2.72)	11.14

Be your own money manager

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

Martin Fewings	Head Communications	Profile
Shaun Teichner	G Counsel	Profile
Gary Nagle	CEO Director	Profile
Peter Freyberg	Head Assets	Profile
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