IBEX Technologies Correlations

IBT Stock

EUR 684.00 10.00 1.48%

The current 90-days correlation between IBEX Technologies and Moderna is 0.17 (i.e., Average diversification). The correlation of IBEX Technologies 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.

IBEX Technologies Correlation With Market

Average diversification

The correlation between IBEX Technologies and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IBEX Technologies and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IBEX Stock

0.72

VX1

Vertex Pharmaceuticals

Pair Corr

Moving against IBEX Stock

0.56	BYRA	PT Bank Rakyat	Pair Corr
0.51	PQ9	BANK MANDIRI	Pair Corr
0.49	MBG	Mercedes Benz Group	Pair Corr
0.48	0QF	Moderna	Pair Corr
0.44	BYRA	BANK RAKYAT IND	Pair Corr
0.44	BYRA	BANK RAKYAT IND	Pair Corr
0.43	PQ9	BANK MANDIRI	Pair Corr
0.4	PQ9	BANK MANDIRI	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr
0.35	PQ9	PT Bank Mandiri	Pair Corr
0.34	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	0QF	8SP	2DG	TM9	NOH1	RS6	XYTA	9K1	3RKU
0QF		0.8	0.93	0.62	-0.36	-0.86	-0.23	0.72	-0.59	0QF
8SP	0.8		0.67	0.52	-0.28	-0.66	-0.2	0.5	-0.27	8SP
2DG	0.93	0.67		0.58	-0.38	-0.87	-0.09	0.74	-0.66	2DG
TM9	0.62	0.52	0.58		0.07	-0.51	0.09	0.79	-0.66	TM9
NOH1	-0.36	-0.28	-0.38	0.07		0.49	0.26	-0.07	0.05	NOH1
RS6	-0.86	-0.66	-0.87	-0.51	0.49		0.07	-0.67	0.54	RS6
XYTA	-0.23	-0.2	-0.09	0.09	0.26	0.07		0.21	-0.24	XYTA
9K1	0.72	0.5	0.74	0.79	-0.07	-0.67	0.21		-0.88	9K1
3RKU	-0.59	-0.27	-0.66	-0.66	0.05	0.54	-0.24	-0.88		3RKU
	0QF	8SP	2DG	TM9	NOH1	RS6	XYTA	9K1	3RKU

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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

2DG	+ 0.93	0QF
8SP	+ 0.8	0QF
9K1	+ 0.79	TM9
9K1	+ 0.74	2DG
9K1	+ 0.72	0QF
2DG	+ 0.67	8SP

High negative correlations

3RKU	- 0.88	9K1
RS6	- 0.87	2DG
RS6	- 0.86	0QF
9K1	- 0.67	RS6
3RKU	- 0.66	TM9
3RKU	- 0.66	2DG

Risk-Adjusted Indicators

There is a big difference between IBEX Stock performing well and IBEX Technologies 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 IBEX Technologies' 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
0QF	2.40	(0.73)	0.00	(1.60)	0.00	0.00	3.70	(6.47)	15.59
8SP	2.12	(0.25)	0.00	(1.96)	0.00	0.00	3.36	(4.50)	20.22
2DG	5.38	(0.46)	0.00	(0.26)	0.00	0.00	13.64	(10.00)	52.42
TM9	2.62	(0.19)	0.00	0.40	0.00	0.00	5.56	(6.43)	30.27
NOH1	1.92	0.10	0.05	0.19	1.88	(2.66)	6.61	(3.25)	13.10
RS6	1.41	0.09	0.05	0.31	1.45	(1.61)	2.94	(2.60)	15.24
XYTA	12.41	4.01	0.14	(19.84)	8.83	(55.21)	33.33	(25.00)	233.33
9K1	1.77	(0.27)	0.00	0.64	0.00	0.00	3.03	(4.66)	14.80
3RKU	1.57	0.42	0.23	1.12	1.28	(2.16)	3.31	(2.40)	9.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in IBEX Technologies 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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