Mitie Group Correlations
| MTO Stock | EUR 1,160 1.50 0.13% |
The correlation of Mitie Group 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 Mitie Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mitie Group PLC 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.
Average diversification
The correlation between Mitie Group PLC and NYA is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mitie Group PLC and NYA in the same portfolio, assuming nothing else is changed.
Mitie |
The ability to find closely correlated positions to Mitie Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mitie Group 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 Mitie Group - 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 Mitie Group PLC to buy it.
Moving together with Mitie Stock
| 0.75 | TN8 | Thermo Fisher Scientific | PairCorr |
| 0.74 | DC4 | DexCom Inc | PairCorr |
| 0.94 | AG8 | Agilent Technologies | PairCorr |
| 0.65 | 893 | MITSUBISHI KAKOKI | PairCorr |
| 0.62 | HCMA | HITACHI CONSTRMACHADR/2 | PairCorr |
| 0.62 | BFP | BBVA Banco Frances | PairCorr |
Moving against Mitie Stock
Related Correlations Analysis
| 0.32 | 0.28 | -0.63 | 0.71 | -0.06 | WX8 | ||
| 0.32 | 0.56 | -0.3 | 0.41 | 0.61 | DAP | ||
| 0.28 | 0.56 | 0.09 | 0.46 | 0.73 | SHL1 | ||
| -0.63 | -0.3 | 0.09 | -0.61 | 0.2 | DC4 | ||
| 0.71 | 0.41 | 0.46 | -0.61 | 0.12 | IX1 | ||
| -0.06 | 0.61 | 0.73 | 0.2 | 0.12 | QTS | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 Mitie Stock performing well and Mitie Group 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 Mitie Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WX8 | 4.50 | (0.42) | 0.00 | (0.39) | 0.00 | 11.79 | 29.75 | |||
| DAP | 0.83 | 0.07 | (0.01) | (0.15) | 0.92 | 1.58 | 7.91 | |||
| SHL1 | 1.30 | 0.00 | (0.01) | 0.00 | 1.31 | 2.99 | 6.94 | |||
| DC4 | 1.61 | 0.10 | 0.03 | 0.38 | 1.78 | 4.13 | 12.79 | |||
| IX1 | 1.16 | (0.11) | 0.00 | 0.61 | 0.00 | 2.65 | 14.48 | |||
| QTS | 1.22 | 0.13 | 0.06 | 0.46 | 1.31 | 2.04 | 17.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Mitie Group 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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Portfolio RebalancingAnalyze risk-adjusted returns against different time horizons to find asset-allocation targets |
| All Next | Launch Module |
Mitie Group Corporate Management
Elected by the shareholders, the Mitie Group's board of directors comprises two types of representatives: Mitie Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Mitie. The board's role is to monitor Mitie Group's management team and ensure that shareholders' interests are well served. Mitie Group'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, Mitie Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Mary Finnegan | Head Treasurer | Profile | |
| Christian Magloth | Head HR | Profile | |
| Oliver Wittorf | Head IT | Profile | |
| Gerhard Keller | Head Analytics | Profile | |
| Shawn Vadala | Chief Officer | Profile | |
| Peter Aggersbjerg | Head Divisions | Profile | |
| Richard Wong | Head Organizations | Profile |
Already Invested in Mitie Group PLC?
The danger of trading Mitie Group PLC 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 Mitie Group 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 Mitie Group. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Mitie Group PLC 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 Mitie Group PLC. 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Mitie Stock analysis
When running Mitie Group's price analysis, check to measure Mitie Group'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 Mitie Group is operating at the current time. Most of Mitie Group's value examination focuses on studying past and present price action to predict the probability of Mitie Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Mitie Group's price. Additionally, you may evaluate how the addition of Mitie Group to your portfolios can decrease your overall portfolio volatility.
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