Nexgram Holdings Correlations

0096 Stock

0.01 0.00 0.00%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nexgram Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nexgram Holdings Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nexgram Holdings Correlation With Market

Good diversification

The correlation between Nexgram Holdings Bhd and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexgram Holdings Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	0103	0096	5168	7160	5263	0166	5053	4456	5306	5292
0103		0.03	0.65	0.61	0.27	0.28	0.85	0.57	0.04	0.39	0103
0096	0.03		0.09	-0.15	-0.03	-0.12	-0.09	-0.12	-0.04	0.09	0096
5168	0.65	0.09		0.69	0.1	0.41	0.7	0.29	0.25	0.88	5168
7160	0.61	-0.15	0.69		0.06	0.6	0.66	0.45	0.22	0.5	7160
5263	0.27	-0.03	0.1	0.06		-0.07	0.21	-0.13	-0.24	0.0	5263
0166	0.28	-0.12	0.41	0.6	-0.07		0.36	0.35	-0.06	0.42	0166
5053	0.85	-0.09	0.7	0.66	0.21	0.36		0.57	0.04	0.44	5053
4456	0.57	-0.12	0.29	0.45	-0.13	0.35	0.57		-0.06	0.08	4456
5306	0.04	-0.04	0.25	0.22	-0.24	-0.06	0.04	-0.06		0.39	5306
5292	0.39	0.09	0.88	0.5	0.0	0.42	0.44	0.08	0.39		5292
	0103	0096	5168	7160	5263	0166	5053	4456	5306	5292

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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

5292	+ 0.88	5168
5053	+ 0.85	0103
5053	+ 0.7	5168
7160	+ 0.69	5168
5053	+ 0.66	7160
5168	+ 0.65	0103

High negative correlations

5306	- 0.24	5263
7160	- 0.15	0096
4456	- 0.13	5263
4456	- 0.12	0096
0166	- 0.12	0096
5053	- 0.09	0096

Risk-Adjusted Indicators

There is a big difference between Nexgram Stock performing well and Nexgram Holdings 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 Nexgram Holdings' 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
0103	5.24	1.13	0.11	(2.35)	4.58	(15.56)	22.22	(9.09)	52.08
0096	11.57	1.52	0.06	(2.11)	11.83	(33.33)	33.33	(25.00)	58.33
5168	1.74	0.45	0.15	(1.06)	2.18	(1.98)	4.14	(2.89)	13.51
7160	1.96	0.17	0.07	0.61	1.90	(2.77)	3.86	(2.65)	17.61
5263	1.56	0.07	0.03	0.28	2.05	(1.81)	3.25	(2.78)	12.07
0166	1.64	(0.03)	0.00	(0.04)	0.00	0.00	3.48	(3.17)	11.84
5053	1.00	0.15	0.09	1.01	1.03	(1.26)	2.52	(1.85)	7.89
4456	1.59	0.12	0.03	(0.27)	1.50	(4.49)	2.86	(2.78)	14.62
5306	1.03	0.10	0.06	0.64	1.11	(1.28)	2.76	(2.19)	6.78
5292	2.11	0.61	0.23	(5.16)	2.07	(2.53)	4.95	(2.98)	15.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexgram Holdings 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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