Sime Darby Correlations

4197 Stock

2.27 0.02 0.87%

The current 90-days correlation between Sime Darby Bhd and PIE Industrial Bhd is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sime Darby moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sime Darby Bhd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sime Darby Correlation With Market

Good diversification

The correlation between Sime Darby Bhd and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sime Darby Bhd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sime Stock

0.7

8044

Computer Forms Bhd

Pair Corr

Moving against Sime Stock

0.73	5292	Uwc Bhd	Pair Corr
0.67	0129	Silver Ridge Holdings	Pair Corr
0.63	5162	ECS ICT Bhd	Pair Corr
0.62	4936	Malpac Holdings Bhd	Pair Corr
0.59	1066	RHB Bank Bhd	Pair Corr
0.59	5168	Hartalega Holdings Bhd	Pair Corr
0.49	2445	Kuala Lumpur Kepong	Pair Corr
0.46	0083	Notion Vtec Bhd	Pair Corr
0.38	0097	ViTrox Bhd	Pair Corr
0.34	3255	Heineken Bhd	Pair Corr

Related Correlations Analysis

	7095	5305	0304	5169	7217	8192	5797	8273
7095		0.45	-0.62	0.27	-0.55	-0.9	-0.88	0.3	7095
5305	0.45		-0.27	-0.33	-0.09	-0.46	-0.36	0.52	5305
0304	-0.62	-0.27		-0.35	0.46	0.66	0.63	0.05	0304
5169	0.27	-0.33	-0.35		-0.31	-0.25	-0.46	-0.52	5169
7217	-0.55	-0.09	0.46	-0.31		0.42	0.5	0.15	7217
8192	-0.9	-0.46	0.66	-0.25	0.42		0.84	-0.34	8192
5797	-0.88	-0.36	0.63	-0.46	0.5	0.84		-0.08	5797
8273	0.3	0.52	0.05	-0.52	0.15	-0.34	-0.08		8273
	7095	5305	0304	5169	7217	8192	5797	8273

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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

5797	+ 0.84	8192
8192	+ 0.66	0304
5797	+ 0.63	0304
8273	+ 0.52	5305
5797	+ 0.5	7217
7217	+ 0.46	0304

High negative correlations

8192	- 0.9	7095
5797	- 0.88	7095
0304	- 0.62	7095
7217	- 0.55	7095
8273	- 0.52	5169
5797	- 0.46	5169

Risk-Adjusted Indicators

There is a big difference between Sime Stock performing well and Sime Darby 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 Sime Darby'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
7095	1.19	0.22	0.14	1.72	1.16	(1.59)	2.61	(2.02)	9.39
5305	1.29	0.12	0.03	0.29	1.55	(4.02)	4.17	(4.00)	8.17
0304	1.15	(0.11)	0.00	1.22	0.00	0.00	1.89	(1.89)	9.11
5169	2.55	0.18	0.03	0.20	2.76	(9.58)	7.69	(6.25)	29.78
7217	2.03	(0.18)	0.00	0.27	0.00	0.00	6.25	(6.06)	16.04
8192	1.35	(0.20)	0.00	1.81	0.00	0.00	4.40	(3.88)	12.00
5797	1.29	(0.18)	0.00	0.43	0.00	0.00	2.90	(4.76)	14.55
8273	0.96	(0.07)	0.00	(2.08)	0.00	0.00	2.47	(2.41)	6.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sime Darby 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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