Methanex Correlations
| MX Stock | CAD 73.00 1.32 1.84% |
The correlation of Methanex 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 Methanex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Methanex 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.
Modest diversification
The correlation between Methanex and NYA is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methanex and NYA in the same portfolio, assuming nothing else is changed.
Methanex |
The ability to find closely correlated positions to Methanex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Methanex 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 Methanex - 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 Methanex to buy it.
Moving together with Methanex Stock
| 0.85 | IE | Ivanhoe Energy | PairCorr |
| 0.79 | FDY | Faraday Copper Corp | PairCorr |
| 0.84 | CHEV | CHEVRON CDR | PairCorr |
| 0.72 | AMZN | Amazon CDR | PairCorr |
| 0.87 | GOOG | Alphabet CDR | PairCorr |
| 0.64 | CLIP | Clip Money | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Methanex 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 Volatility Now
Portfolio VolatilityCheck portfolio volatility and analyze historical return density to properly model market risk |
| All Next | Launch Module |
Methanex Corporate Management
Elected by the shareholders, the Methanex's board of directors comprises two types of representatives: Methanex inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Methanex. The board's role is to monitor Methanex's management team and ensure that shareholders' interests are well served. Methanex'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, Methanex's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Vanessa James | Sr. VP of Global Marketing and Logistics | Profile | |
| Karine Delbarre | Senior Logistics | Profile | |
| Sarah Herriott | Director Relations | Profile | |
| Mark Allard | Senior Solutions | Profile |
Already Invested in Methanex?
The danger of trading Methanex 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 Methanex 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 Methanex. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Methanex 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.
When determining whether Methanex offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Methanex's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Methanex Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Methanex Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Methanex. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. To learn how to invest in Methanex Stock, please use our How to Invest in Methanex guide.You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Complementary Tools for Methanex Stock analysis
When running Methanex's price analysis, check to measure Methanex'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 Methanex is operating at the current time. Most of Methanex's value examination focuses on studying past and present price action to predict the probability of Methanex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Methanex's price. Additionally, you may evaluate how the addition of Methanex to your portfolios can decrease your overall portfolio volatility.
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |