Anglo American Correlations

AAL Stock

2,124 13.50 0.63%

The current 90-days correlation between Anglo American PLC and Givaudan SA is 0.09 (i.e., Significant diversification). The correlation of Anglo American 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Anglo American Correlation With Market

Weak diversification

The correlation between Anglo American PLC and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anglo American PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Anglo American could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Anglo American 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 Anglo American - 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 Anglo American PLC to buy it.

Moving together with Anglo Stock

0.92	ANTO	Antofagasta PLC	Pair Corr
0.79	ATYM	Atalaya Mining	Pair Corr
0.91	CAML	Central Asia Metals	Pair Corr
0.78	TLOU	Tlou Energy	Pair Corr
0.8	FOG	Falcon Oil Gas	Pair Corr
0.78	QBT	Quantum Blockchain Earnings Call This Week	Pair Corr
0.83	ALL	Atlantic Lithium	Pair Corr

Moving against Anglo Stock

0.61	IAG	International Consolidated	Pair Corr
0.49	GMET	Golden Metal Resources	Pair Corr
0.48	CEY	Centamin PLC	Pair Corr
0.41	HE1	Helium One Global	Pair Corr
0.4	AAZ	Anglo Asian Mining Earnings Call This Week	Pair Corr
0.36	MTL	Metals Exploration Plc	Pair Corr

Related Correlations Analysis

	0QPS	ANTO	CEY	EVR	ATYM	CAML	FXPO	AMRQ	AAZ	MTL
0QPS		-0.14	0.61	0.0	0.22	-0.17	-0.46	0.17	-0.12	0.53	0QPS
ANTO	-0.14		-0.31	0.0	0.82	0.92	0.46	0.21	-0.25	-0.44	ANTO
CEY	0.61	-0.31		0.0	-0.15	-0.28	-0.17	0.08	0.46	0.42	CEY
EVR	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	EVR
ATYM	0.22	0.82	-0.15	0.0		0.77	0.09	0.23	-0.35	0.07	ATYM
CAML	-0.17	0.92	-0.28	0.0	0.77		0.39	0.29	-0.27	-0.36	CAML
FXPO	-0.46	0.46	-0.17	0.0	0.09	0.39		-0.09	0.3	-0.54	FXPO
AMRQ	0.17	0.21	0.08	0.0	0.23	0.29	-0.09		-0.15	0.1	AMRQ
AAZ	-0.12	-0.25	0.46	0.0	-0.35	-0.27	0.3	-0.15		0.04	AAZ
MTL	0.53	-0.44	0.42	0.0	0.07	-0.36	-0.54	0.1	0.04		MTL
	0QPS	ANTO	CEY	EVR	ATYM	CAML	FXPO	AMRQ	AAZ	MTL

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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

CAML	+ 0.92	ANTO
ATYM	+ 0.82	ANTO
CAML	+ 0.77	ATYM
CEY	+ 0.61	0QPS
MTL	+ 0.53	0QPS
FXPO	+ 0.46	ANTO

High negative correlations

MTL	- 0.54	FXPO
FXPO	- 0.46	0QPS
MTL	- 0.44	ANTO
MTL	- 0.36	CAML
AAZ	- 0.35	ATYM
CEY	- 0.31	ANTO

Risk-Adjusted Indicators

There is a big difference between Anglo Stock performing well and Anglo American 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 Anglo American'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
0QPS	0.80	0.09	(0.02)	(5.95)	1.04	(0.85)	2.06	(1.68)	6.49
ANTO	1.70	(0.28)	0.00	(0.20)	0.00	0.00	3.06	(4.70)	10.55
CEY	1.61	0.49	0.21	1.16	1.59	(1.99)	2.93	(2.85)	22.93
EVR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ATYM	2.04	(0.20)	0.00	(0.12)	0.00	0.00	3.50	(4.80)	12.93
CAML	1.57	(0.19)	0.00	(0.07)	0.00	0.00	3.58	(3.62)	9.27
FXPO	2.95	0.00	(0.02)	0.14	3.52	(3.16)	6.90	(5.26)	24.83
AMRQ	2.47	0.87	0.39	12.06	0.77	(6.68)	1.60	(2.99)	8.51
AAZ	2.43	0.57	0.12	(0.67)	2.45	(3.25)	5.56	(5.03)	19.13
MTL	2.36	0.27	0.09	0.37	2.31	(3.63)	7.29	(4.21)	19.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Anglo American 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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