Mitie Group Correlations
| MTO Stock | EUR 1,036 21.00 2.07% |
The current 90-days correlation between Mitie Group PLC and Westinghouse Air Brake is 0.34 (i.e., Weak diversification). The correlation of Mitie 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.
Mitie Group Correlation With Market
Significant diversification
The correlation between Mitie Group PLC and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitie Group PLC and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Mitie 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 Mitie 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 Mitie 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 Mitie Group PLC to buy it.
Moving together with Mitie Stock
| 0.62 | DC4 | DexCom Inc | PairCorr |
| 0.7 | AG8 | Agilent Technologies | PairCorr |
| 0.71 | IX1 | IDEXX Laboratories | PairCorr |
| 0.61 | LIE | Sun Life Financial | PairCorr |
| 0.67 | 74G | DIVIDEND GROWTH SPLIT | PairCorr |
| 0.72 | E908 | Lyxor 1 | PairCorr |
| 0.67 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against Mitie Stock
| 0.66 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.56 | KWE1 | Ring Energy | PairCorr |
| 0.35 | ADC | AdCapital AG | PairCorr |
| 0.33 | TN8 | Thermo Fisher Scientific Earnings Call This Week | PairCorr |
Related Correlations Analysis
| 0.8 | 0.27 | 0.64 | 0.17 | 0.62 | WB2 | ||
| 0.8 | 0.56 | 0.82 | 0.47 | 0.69 | RY4D | ||
| 0.27 | 0.56 | 0.56 | 0.36 | 0.11 | P4Q | ||
| 0.64 | 0.82 | 0.56 | 0.34 | 0.42 | ZNHH | ||
| 0.17 | 0.47 | 0.36 | 0.34 | 0.49 | 31WN | ||
| 0.62 | 0.69 | 0.11 | 0.42 | 0.49 | M0G | ||
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Risk-Adjusted Indicators
There is a big difference between Mitie Stock performing well and Mitie 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 Mitie 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WB2 | 1.16 | 0.32 | 0.11 | (0.81) | 1.03 | 2.80 | 10.84 | |||
| RY4D | 1.30 | 0.27 | 0.11 | 1.50 | 1.16 | 3.73 | 10.57 | |||
| P4Q | 2.11 | 0.10 | (0.01) | (23.75) | 2.69 | 4.59 | 16.95 | |||
| ZNHH | 1.69 | 0.17 | 0.00 | (0.49) | 1.82 | 2.86 | 10.56 | |||
| 31WN | 2.91 | 0.21 | 0.03 | 2.40 | 3.05 | 7.69 | 20.47 | |||
| M0G | 2.26 | 0.65 | 0.24 | 9.98 | 1.63 | 6.03 | 17.36 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Mitie 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.Did you try this?
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Mitie Group Corporate Management
Elected by the shareholders, the Mitie Group's board of directors comprises two types of representatives: Mitie Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Mitie. The board's role is to monitor Mitie Group's management team and ensure that shareholders' interests are well served. Mitie Group'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, Mitie Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Mary Finnegan | Head Treasurer | Profile | |
| Christian Magloth | Head HR | Profile | |
| Oliver Wittorf | Head IT | Profile | |
| Gerhard Keller | Head Analytics | Profile | |
| Shawn Vadala | Chief Officer | Profile | |
| Peter Aggersbjerg | Head Divisions | Profile | |
| Richard Wong | Head Organizations | Profile |