Commonwealth Bank Correlations

Stocks Australia . 
Stock . Commonwealth Bank of
CBA Stock   170.40  3.62  2.08%   
The current 90-days correlation between Commonwealth Bank and Vitura Health is -0.1 (i.e., Good diversification). The correlation of Commonwealth Bank 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Commonwealth Bank Correlation With Market

Good diversification

The correlation between Commonwealth Bank of and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commonwealth Bank of and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Commonwealth Bank could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Commonwealth Bank 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 Commonwealth Bank - 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 Commonwealth Bank of to buy it.

Moving against Commonwealth Stock

  0.68CYL Catalyst MetalsPairCorr
  0.55VVA Viva LeisurePairCorr
  0.5529M 29METALSPairCorr
  0.53NXT NEXTDCPairCorr
  0.53MFF MFF Capital InvestmentsPairCorr
  0.52HLI Helia Group Earnings Call TodayPairCorr
  0.49CBAPM Commonwealth BankPairCorr
  0.41AMU American Uranium SplitPairCorr
  0.38PE1 Pengana Private EquityPairCorr
  0.38GNP Genusplus GroupPairCorr
  0.36SBM ST BarbaraPairCorr
  0.35TEA TasmeaPairCorr
  0.34RF1 Regal InvestmentPairCorr
  0.32EDU EDU HoldingsPairCorr

Related Correlations Analysis


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

SXL
+ 0.75
CQR
OCA
+ 0.6
MTO
OCA
+ 0.22
VIT
MTO
+ 0.12
FPH
MTO
+ 0.09
CQR
OCA
+ 0.09
FPH
  

High negative correlations

FPH
- 0.55
SXL
OCA
- 0.5
SXL
CQR
- 0.4
VIT
OCA
- 0.36
CQR
SXL
- 0.3
VIT
FPH
- 0.24
CQR

Risk-Adjusted Indicators

There is a big difference between Commonwealth Stock performing well and Commonwealth Bank 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 Commonwealth Bank'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 Commonwealth Bank 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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Commonwealth Bank Corporate Management

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