Kingspan Group Correlations
| KRX Stock | EUR 86.25 3.75 4.55% |
The correlation of Kingspan 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kingspan Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kingspan Group plc 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.
Weak diversification
The correlation between Kingspan Group plc and NYA is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kingspan Group plc and NYA in the same portfolio, assuming nothing else is changed.
Kingspan |
The ability to find closely correlated positions to Kingspan 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 Kingspan 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 Kingspan 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 Kingspan Group plc to buy it.
Moving together with Kingspan Stock
| 0.73 | RYA | Ryanair Holdings plc | PairCorr |
| 0.67 | EG7 | FBD Holdings PLC | PairCorr |
| 0.76 | SK3 | Smurfit Kappa Group | PairCorr |
Moving against Kingspan Stock
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Kingspan Stock performing well and Kingspan 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 Kingspan 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.Be your own money manager
Our tools can tell you how much better you can do entering a position in Kingspan 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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Kingspan Group Corporate Management
Elected by the shareholders, the Kingspan Group's board of directors comprises two types of representatives: Kingspan Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Kingspan. The board's role is to monitor Kingspan Group's management team and ensure that shareholders' interests are well served. Kingspan 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, Kingspan Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Siobhan ODwyer | Global Affairs | Profile | |
| FCA BComm | Group Director | Profile | |
| Russell Shiels | Pres Director | Profile | |
| Lorcan Dowd | Head Sec | Profile | |
| Catriona Nicholson | Head Relations | Profile | |
| Jim Carolan | Group Certification | Profile | |
| Gene Murtagh | CEO Director | Profile |
Already Invested in Kingspan Group plc?
The danger of trading Kingspan Group plc 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 Kingspan Group 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 Kingspan Group. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Kingspan Group plc 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kingspan Group plc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Complementary Tools for Kingspan Stock analysis
When running Kingspan Group's price analysis, check to measure Kingspan Group'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 Kingspan Group is operating at the current time. Most of Kingspan Group's value examination focuses on studying past and present price action to predict the probability of Kingspan Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kingspan Group's price. Additionally, you may evaluate how the addition of Kingspan Group to your portfolios can decrease your overall portfolio volatility.
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