Glencore PLC Correlations
GLNCY Stock | USD 10.95 0.06 0.55% |
The correlation of Glencore 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Glencore PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Glencore PLC ADR 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.
Very weak diversification
The correlation between Glencore PLC ADR and NYA is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glencore PLC ADR and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Glencore 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 Glencore 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 Glencore 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 Glencore PLC ADR to buy it.
Moving together with Glencore Pink Sheet
0.81 | BHPLF | BHP Group Limited | PairCorr |
0.84 | BHP | BHP Group Limited Fiscal Year End 27th of August 2024 | PairCorr |
0.72 | RTPPF | Rio Tinto Group | PairCorr |
0.81 | RIO | Rio Tinto ADR | PairCorr |
1.0 | GLCNF | Glencore PLC | PairCorr |
0.78 | AAUKF | Anglo American Plc | PairCorr |
Moving against Glencore Pink Sheet
0.71 | META | Meta Platforms Financial Report 24th of April 2024 | PairCorr |
0.69 | AMD | Advanced Micro Devices Aggressive Push | PairCorr |
0.68 | TM | Toyota Motor Financial Report 8th of May 2024 | PairCorr |
0.68 | DECK | Deckers Outdoor Financial Report 23rd of May 2024 | PairCorr |
0.66 | AMZN | Amazon Inc Aggressive Push | PairCorr |
0.65 | MSFT | Microsoft Fiscal Quarter End 31st of March 2024 | PairCorr |
0.57 | NVDA | NVIDIA Financial Report 22nd of May 2024 | PairCorr |
0.57 | HIG | Hartford Financial Financial Report 25th of April 2024 | PairCorr |
0.54 | MUSA | Murphy USA Financial Report 7th of May 2024 | PairCorr |
0.54 | MOD | Modine Manufacturing Financial Report 22nd of May 2024 | PairCorr |
0.52 | WMS | Advanced Drainage Systems Financial Report 16th of May 2024 | PairCorr |
0.51 | ALSN | Allison Transmission Financial Report 25th of April 2024 | PairCorr |
0.48 | FIX | Comfort Systems USA Financial Report 24th of April 2024 | PairCorr |
0.45 | UNM | Unum Group Sell-off Trend | PairCorr |
Related Correlations Analysis
TKR | ACU | CRKT | PSFE | VCSA | EML | ||
TKR | -0.3 | 0.0 | 0.38 | -0.19 | 0.69 | TKR | |
ACU | -0.3 | 0.0 | 0.41 | 0.66 | -0.03 | ACU | |
CRKT | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CRKT | |
PSFE | 0.38 | 0.41 | 0.0 | 0.12 | 0.57 | PSFE | |
VCSA | -0.19 | 0.66 | 0.0 | 0.12 | -0.36 | VCSA | |
EML | 0.69 | -0.03 | 0.0 | 0.57 | -0.36 | EML | |
TKR | ACU | CRKT | PSFE | VCSA | EML |
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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 Glencore Pink Sheet performing well and Glencore PLC 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 Glencore 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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
TKR | 1.16 | (0.10) | 0.01 | 0.07 | 1.54 | 2.34 | 8.39 | |||
ACU | 2.48 | 0.25 | 0.03 | (1.04) | 3.31 | 5.50 | 17.64 | |||
CRKT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
PSFE | 2.60 | 0.15 | 0.09 | 0.19 | 3.40 | 5.56 | 18.83 | |||
VCSA | 3.32 | (0.31) | 0.00 | (0.12) | 0.00 | 7.28 | 26.47 | |||
EML | 1.79 | 0.72 | 0.35 | 6.98 | 1.24 | 4.31 | 11.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Glencore 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.Did you try this?
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Glencore PLC Corporate Directors
Glencore PLC corporate directors refer to members of a Glencore PLC board of directors. The board of directors generally takes responsibility for the Glencore PLC'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 Glencore PLC's board members must vote for the resolution. The Glencore PLC board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Martin Gilbert | Non-Executive Independent Director | Profile | |
Gill Marcus | Non-Executive Independent Director | Profile | |
William MaCaulay | Independent Non-Executive Director | Profile | |
Leonhard Fischer | Independent Non-Executive Director | Profile |
Already Invested in Glencore PLC ADR?
The danger of trading Glencore PLC ADR 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 Glencore PLC 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 Glencore PLC. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Glencore PLC ADR 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 Glencore PLC ADR. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Glencore PLC ADR information on this page should be used as a complementary analysis to other Glencore PLC's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Complementary Tools for Glencore Pink Sheet analysis
When running Glencore PLC's price analysis, check to measure Glencore PLC'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 Glencore PLC is operating at the current time. Most of Glencore PLC's value examination focuses on studying past and present price action to predict the probability of Glencore PLC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Glencore PLC's price. Additionally, you may evaluate how the addition of Glencore PLC to your portfolios can decrease your overall portfolio volatility.
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