Inix Technologies Correlations

0094 Stock

0.01 0.01 50.00%

The current 90-days correlation between Inix Technologies and Dataprep Holdings Bhd is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Inix Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Inix Technologies Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Inix Technologies Correlation With Market

Good diversification

The correlation between Inix Technologies Holdings and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inix Technologies Holdings and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Inix 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 Inix 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 Inix 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 Inix Technologies Holdings to buy it.

Moving against Inix Stock

0.53	5225	IHH Healthcare Bhd	Pair Corr
0.47	1066	RHB Bank Bhd	Pair Corr
0.47	5285	Sime Darby Plantation	Pair Corr
0.42	5168	Hartalega Holdings Bhd	Pair Corr
0.34	5028	HeiTech Padu Bhd	Pair Corr

Related Correlations Analysis

	5216	5204	8338	0050	0132	0131	5028	0123	0092
5216		0.85	0.61	0.84	-0.54	0.78	0.02	-0.03	0.51	5216
5204	0.85		0.48	0.77	-0.54	0.79	0.19	-0.03	0.53	5204
8338	0.61	0.48		0.67	-0.31	0.47	-0.51	0.21	0.26	8338
0050	0.84	0.77	0.67		-0.59	0.77	-0.16	0.04	0.49	0050
0132	-0.54	-0.54	-0.31	-0.59		-0.6	-0.14	0.27	-0.45	0132
0131	0.78	0.79	0.47	0.77	-0.6		0.18	-0.25	0.57	0131
5028	0.02	0.19	-0.51	-0.16	-0.14	0.18		-0.36	0.3	5028
0123	-0.03	-0.03	0.21	0.04	0.27	-0.25	-0.36		-0.32	0123
0092	0.51	0.53	0.26	0.49	-0.45	0.57	0.3	-0.32		0092
	5216	5204	8338	0050	0132	0131	5028	0123	0092

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

5204	+ 0.85	5216
0050	+ 0.84	5216
0131	+ 0.79	5204
0131	+ 0.78	5216
0050	+ 0.77	5204
0131	+ 0.77	0050

High negative correlations

0131	- 0.6	0132
0132	- 0.59	0050
0132	- 0.54	5204
0132	- 0.54	5216
5028	- 0.51	8338
0092	- 0.45	0132

Risk-Adjusted Indicators

There is a big difference between Inix Stock performing well and Inix 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 Inix 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
5216	1.34	(0.06)	0.00	(0.07)	0.00	0.00	2.56	(2.50)	9.89
5204	1.95	0.09	0.01	0.40	1.90	(4.14)	5.71	(3.12)	15.68
8338	2.41	(0.26)	0.00	(0.26)	0.00	0.00	7.14	(6.67)	33.19
0050	1.85	(0.01)	(0.02)	0.06	2.15	(4.11)	4.00	(3.85)	10.71
0132	3.43	0.32	0.02	(0.70)	4.16	(9.00)	9.09	(8.33)	25.38
0131	1.41	0.08	(0.01)	(0.09)	2.30	(7.81)	7.69	(7.14)	16.03
5028	3.03	0.48	0.13	0.57	3.00	(3.99)	8.51	(4.19)	44.99
0123	3.40	0.51	0.06	1.69	3.41	(9.90)	10.00	(9.09)	34.65
0092	3.57	0.18	0.01	0.29	4.75	(17.09)	14.29	(12.50)	55.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Inix 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.

Did you try this?

Run Technical Analysis Now

Technical Analysis

Check basic technical indicators and analysis based on most latest market data

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC