The correlation of Magna Mining is a statistical measure of how it moves in relation to other equities. 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 Magna Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magna Mining 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.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Magna Mining. 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.
The correlation between Magna Mining and NYA is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magna Mining and NYA in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Magna Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Magna Mining 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 Magna Mining - 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 Magna Mining to buy it.
Related Correlations Analysis
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Correlation MatchupsOver 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
Risk-Adjusted IndicatorsThere is a big difference between Magna Stock performing well and Magna Mining 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 Magna Mining'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 managerOur tools can tell you how much better you can do entering a position in Magna Mining 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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Magna Mining Corporate Management
Elected by the shareholders, the Magna Mining's board of directors comprises two types of representatives: Magna Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Magna. The board's role is to monitor Magna Mining's management team and ensure that shareholders' interests are well served. Magna Mining'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, Magna Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.
Already Invested in Magna Mining?
The danger of trading Magna Mining 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 Magna Mining 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 Magna Mining. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Magna Mining 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 Magna Mining. 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.Note that the Magna Mining information on this page should be used as a complementary analysis to other Magna Mining'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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Complementary Tools for Magna Stock analysis
When running Magna Mining's price analysis, check to measure Magna Mining'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 Magna Mining is operating at the current time. Most of Magna Mining's value examination focuses on studying past and present price action to predict the probability of Magna Mining's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Magna Mining's price. Additionally, you may evaluate how the addition of Magna Mining to your portfolios can decrease your overall portfolio volatility.
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