Bank of Ireland Correlations
| BIRG Stock | EUR 10.05 0.05 0.50% |
The correlation of Bank of Ireland 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 Bank of Ireland moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bank of Ireland 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.
Significant diversification
The correlation between Bank of Ireland 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 Bank of Ireland and NYA in the same portfolio, assuming nothing else is changed.
Bank |
The ability to find closely correlated positions to Bank of Ireland could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of Ireland 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 Bank of Ireland - 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 Bank of Ireland to buy it.
Moving together with Bank Stock
| 0.93 | A5G | AIB Group PLC Earnings Call This Week | PairCorr |
| 0.69 | SK3 | Smurfit Kappa Group | PairCorr |
| 0.91 | EG7 | FBD Holdings PLC | PairCorr |
| 0.72 | KMR | Kenmare Resources PLC | PairCorr |
| 0.71 | GL9 | Glanbia PLC Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Bank Stock performing well and Bank of Ireland 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 Bank of Ireland'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 Bank of Ireland 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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Bank of Ireland Corporate Management
Elected by the shareholders, the Bank of Ireland's board of directors comprises two types of representatives: Bank of Ireland inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bank. The board's role is to monitor Bank of Ireland's management team and ensure that shareholders' interests are well served. Bank of Ireland'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, Bank of Ireland's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Mark Spain | Group Director | Profile | |
| Gabrielle Ryan | Group Counsel | Profile | |
| Myles FCCA | Group Director | Profile | |
| Eamonn Hughes | Chief Officer | Profile | |
| Damien Garvey | Head Affairs | Profile | |
| David Deverall | Managing Director | Profile | |
| Henry Dummer | Chief Officer | Profile |
Already Invested in Bank of Ireland?
The danger of trading Bank of Ireland 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 Bank of Ireland 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 Bank of Ireland. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bank of Ireland 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Bank of Ireland. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for Bank Stock analysis
When running Bank of Ireland's price analysis, check to measure Bank of Ireland'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 Bank of Ireland is operating at the current time. Most of Bank of Ireland's value examination focuses on studying past and present price action to predict the probability of Bank of Ireland's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bank of Ireland's price. Additionally, you may evaluate how the addition of Bank of Ireland to your portfolios can decrease your overall portfolio volatility.
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