Ilika Plc Correlations

ILIKF Stock  USD 0.25  0.01  3.85%   
The current 90-days correlation between Ilika plc and Novonix Ltd ADR is 0.18 (i.e., Average diversification). The correlation of Ilika 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.

Ilika Plc Correlation With Market

Good diversification

The correlation between Ilika plc and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ilika plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ilika 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 Ilika 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 Ilika 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 Ilika plc to buy it.

Moving together with Ilika OTC Stock

  0.76SHG Shinhan FinancialPairCorr
  0.78BCH Banco De ChilePairCorr
  0.76PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.92MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.81JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.92KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr

Moving against Ilika OTC Stock

  0.82ABB Drone Delivery CanadaPairCorr
  0.78VRT Vertiv HoldingsPairCorr
  0.72FNMFO Federal National MortgagePairCorr
  0.68NVT nVent Electric PLCPairCorr
  0.61MIELY Mitsubishi Electric CorpPairCorr
  0.6MIELF Mitsubishi ElectricPairCorr
  0.53KB KB Financial GroupPairCorr
  0.43CIB Bancolombia SA ADRPairCorr
  0.38ITCL Banco Ita ChilePairCorr
  0.362457 Phihong TechnologyPairCorr
  0.81CSCO Cisco Systems Aggressive PushPairCorr
  0.79JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.73AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.71TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.7T ATT Inc Aggressive PushPairCorr
  0.69INTC Intel Downward RallyPairCorr
  0.67AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.66DIS Walt DisneyPairCorr
  0.61HPQ HP IncPairCorr
  0.61WMT Walmart Aggressive PushPairCorr
  0.52CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

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   
NVNXFNVX
ZAIRFNHHHF
ZAIRFEXROF
NHHHFEXROF
REFXFEXROF
HYEGEXROF
  
High negative correlations   
NVNXFEXROF
ZAIRFMNSEF
EXROFNVX
NHHHFMNSEF
ZAIRFNVX
ZAIRFNVNXF

Risk-Adjusted Indicators

There is a big difference between Ilika OTC Stock performing well and Ilika Plc OTC Stock 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 Ilika 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NVX  5.06  0.06  0.07  0.15  5.23 
 16.33 
 65.77 
MNSEF  14.47  3.04  0.09 (1.36) 15.16 
 50.00 
 141.39 
EXROF  7.17 (1.51) 0.00 (0.23) 0.00 
 19.57 
 52.99 
NHHHF  6.82  0.65  0.01 (0.41) 10.24 
 21.95 
 83.33 
NVNXF  4.50  0.16  0.06  0.21  4.18 
 10.64 
 51.42 
ZAIRF  6.17 (1.17) 0.00 (0.43) 0.00 
 16.67 
 60.94 
LPENF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
REFXF  43.90  14.86  0.19  1.45  24.09 
 46.00 
 779.00 
HYEG  43.24  14.37  0.00  0.51  0.00 
 20.00 
 1,358 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ilika 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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