Iron Road Correlations
| IRNRF Stock | USD 0.03 0.00 0.00% |
The correlation of Iron Road 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Iron Road moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Iron Road Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between Iron Road Limited and NYA is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iron Road Limited and NYA in the same portfolio, assuming nothing else is changed.
Iron |
The ability to find closely correlated positions to Iron Road could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Iron Road 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 Iron Road - 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 Iron Road Limited to buy it.
Moving against Iron Pink Sheet
| 0.87 | CNK | Cinemark Holdings Financial Report 3rd of May 2024 | PairCorr |
| 0.82 | STLD | Steel Dynamics Financial Report 17th of July 2024 | PairCorr |
| 0.8 | CISXF | China Steel | PairCorr |
| 0.8 | CMG | Chipotle Mexican Grill | PairCorr |
| 0.56 | NUE | Nucor Corp Sell-off Trend | PairCorr |
| 0.55 | GGBR4 | Gerdau SA Split | PairCorr |
| 0.44 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.41 | PBCRY | Bank Central Asia | PairCorr |
Related Correlations Analysis
| -0.13 | -0.88 | 0.67 | -0.55 | SID | ||
| -0.13 | 0.42 | -0.3 | 0.39 | ZEUS | ||
| -0.88 | 0.42 | -0.7 | 0.62 | USAP | ||
| 0.67 | -0.3 | -0.7 | -0.09 | PKX | ||
| -0.55 | 0.39 | 0.62 | -0.09 | RS | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Iron Pink Sheet performing well and Iron Road 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 Iron Road'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SID | 1.89 | (0.40) | 0.00 | (0.78) | 0.00 | 3.68 | 10.64 | |||
| ZEUS | 1.55 | 0.08 | (0.01) | (0.18) | 2.01 | 2.89 | 10.44 | |||
| USAP | 2.46 | 0.62 | 0.17 | (0.95) | 2.42 | 5.61 | 22.10 | |||
| PKX | 1.57 | (0.01) | 0.00 | 0.13 | 0.00 | 3.24 | 11.56 | |||
| RS | 1.11 | 0.09 | 0.00 | (0.30) | 1.45 | 1.93 | 15.51 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Iron Road 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?
Run Portfolio Comparator Now
Portfolio ComparatorCompare the composition, asset allocations and performance of any two portfolios in your account |
| All Next | Launch Module |
Iron Road Corporate Directors
Iron Road corporate directors refer to members of an Iron Road board of directors. The board of directors generally takes responsibility for the Iron Road's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Iron Road's board members must vote for the resolution. The Iron Road board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Glen Chipman | Non-Executive Director | Profile | |
| Ian MastertonHume | Non-Executive Director | Profile | |
| Leigh Hall | Non-Executive Director | Profile | |
| Julian Gosse | Non-Executive Director | Profile |
Already Invested in Iron Road Limited?
The danger of trading Iron Road Limited is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Iron Road is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Iron Road. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Iron Road Limited is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Iron Road Limited. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Complementary Tools for Iron Pink Sheet analysis
When running Iron Road's price analysis, check to measure Iron Road's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Iron Road is operating at the current time. Most of Iron Road's value examination focuses on studying past and present price action to predict the probability of Iron Road's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Iron Road's price. Additionally, you may evaluate how the addition of Iron Road to your portfolios can decrease your overall portfolio volatility.
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |