TechnoDex Bhd Correlations

0132 Stock

0.06 0.01 8.33%

The current 90-days correlation between TechnoDex Bhd and Dataprep Holdings Bhd is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TechnoDex Bhd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TechnoDex Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TechnoDex Bhd Correlation With Market

Good diversification

The correlation between TechnoDex Bhd and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TechnoDex Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TechnoDex Stock

0.63

1066

RHB Bank Bhd

Pair Corr

Moving against TechnoDex Stock

0.62	0050	Systech Bhd	Pair Corr
0.6	0131	Diversified Gateway	Pair Corr
0.56	5183	Petronas Chemicals	Pair Corr
0.54	5216	Datasonic Group Bhd	Pair Corr
0.5	5204	Awanbiru Technology Bhd	Pair Corr
0.5	1155	Malayan Banking Bhd	Pair Corr
0.44	0092	mTouche Technology Bhd	Pair Corr
0.44	5347	Tenaga Nasional Bhd	Pair Corr
0.44	1295	Public Bank Bhd	Pair Corr
0.39	6888	Axiata Group Bhd	Pair Corr
0.38	8338	Dataprep Holdings Bhd	Pair Corr

Related Correlations Analysis

	5216	5204	8338	0050	0132	0131	5028	0123	0092
5216		0.84	0.6	0.83	-0.54	0.78	-0.01	-0.04	0.51	5216
5204	0.84		0.44	0.72	-0.5	0.78	0.21	-0.05	0.52	5204
8338	0.6	0.44		0.72	-0.38	0.49	-0.58	0.22	0.26	8338
0050	0.83	0.72	0.72		-0.62	0.76	-0.22	0.0	0.48	0050
0132	-0.54	-0.5	-0.38	-0.62		-0.6	-0.06	0.28	-0.44	0132
0131	0.78	0.78	0.49	0.76	-0.6		0.15	-0.28	0.57	0131
5028	-0.01	0.21	-0.58	-0.22	-0.06	0.15		-0.33	0.28	5028
0123	-0.04	-0.05	0.22	0.0	0.28	-0.28	-0.33		-0.34	0123
0092	0.51	0.52	0.26	0.48	-0.44	0.57	0.28	-0.34		0092
	5216	5204	8338	0050	0132	0131	5028	0123	0092

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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

5204	+ 0.84	5216
0050	+ 0.83	5216
0131	+ 0.78	5216
0131	+ 0.78	5204
0131	+ 0.76	0050
0050	+ 0.72	5204

High negative correlations

0132	- 0.62	0050
0131	- 0.6	0132
5028	- 0.58	8338
0132	- 0.54	5216
0132	- 0.5	5204
0092	- 0.44	0132

Risk-Adjusted Indicators

There is a big difference between TechnoDex Stock performing well and TechnoDex Bhd 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 TechnoDex Bhd'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
5216	1.34	(0.06)	0.00	(0.07)	0.00	0.00	2.56	(2.50)	9.89
5204	1.93	0.13	0.02	0.59	1.85	(4.14)	5.71	(3.12)	15.68
8338	2.23	(0.15)	0.00	(0.16)	0.00	0.00	7.14	(6.67)	33.19
0050	1.92	(0.16)	0.00	(0.28)	0.00	0.00	4.00	(3.85)	10.71
0132	3.43	0.33	0.02	(0.69)	4.16	(9.00)	9.09	(8.33)	25.38
0131	1.31	(0.04)	0.00	0.20	0.00	0.00	7.69	(7.14)	16.03
5028	3.01	0.50	0.14	0.61	2.99	(3.87)	8.51	(4.19)	44.99
0123	3.45	0.39	0.04	2.18	3.65	(9.90)	10.00	(9.09)	34.65
0092	3.57	0.17	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 TechnoDex Bhd 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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